NDIC pays N15.4bn into consolidated revenue fund

The Nigeria Deposit Insurance Corporation, NDIC, has remitted the sum of N15.4 billion into the Consolidated Revenue Fund between 2007 and 2014, the Fiscal Responsibility Commission, FRC, has said.

The sum, which is 25 percent of the corporation’s gross revenue during the period, has been [...]

Sun, 24 January 2016

N50 Stamp Duty for ’eligible transactions’ only - CBN

The Central Bank of Nigeria, CBN, has made clarifications on some misconception over the implementation of the N50 stamp duty imposed on bank customers, saying the charges would be made per transaction and not on every N1, 000 as reported in some quarters.

The apex bank last week, in a circular [...]

Sun, 24 January 2016

e-dividend registration exercise in Abuja

L-R: Divisional Head, Corporate Communication, Security & Exchange Commission, Mr. Naif Absussalam, Assistant Managers, SEC, Mr. Abubarkar Suleiman and Mr. Abdulrahman Abubakar and Head of Department, Marketing Development, Mr. Henry Rowland during SEC's e-dividend registration exercis [...]

Sun, 17 January 2016

SEC to facilitate payment of N90bn unclaimed dividend

Investors in the Nigerian capital market have been urged to register for the e-dividend scheme so as to facilitate the smooth payment of the over N90billion dividends presently left unclaimed.

At a recent campaign to raise awareness over unclaimed dividend, the Securities and Exchange Commissio [...]

Sat, 16 January 2016

FG to check payroll fraud through BVN

The federal government has said it is putting in place effective modalities through the use of Bank Verification Number, BVN, to help identify and check activities of ghost workers within the public sector.

The initiative which is aimed at addressing the rather slow pace of progress in the Inte [...]

Sat, 16 January 2016

Experts fault IMF boss over Nigeria’s debt profile

Economic analysts have faulted the Managing Director of the International Monetary Fund, IMF, Ms. Christine Lagarde, saying that the country’s debt to GDP ratio was in the balance, therefore, can raise funds from the bond market to finance development.

Lagarde had expressed concern over N [...]

Mon, 11 January 2016

FG assures Nigerians, Nothing to fear over Lagarde’s visit

Some Nigerians have expressed fears over the visit of the Managing Director of the International Monetary Fund, IMF, Ms Christine Lagarde, with many seeing it as a bait to lure the country into taken an IMF loan.

These fears were however allayed with President Muhammadu Buhari’s bold decl [...]

Sun, 10 January 2016

FG gets 53% of November revenue allocation

Over N369 billion was last week distributed among the three tiers of government, as statutory allocation for November 2015, the federal government has said.

Briefing journalists at the end of the monthly outcome of the Federation Accounts Allocation Committee meeting in Abuja, Minister of Finan [...]

Thu, 31 December 2015


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