Business
EIB, AfDB, provides $70m for private sector investment in Nigeria
The European Investment Bank, EIB, and the African Development Bank, AfDB, have both finalised arrangement to provide a US $70million equity stake in the Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.
A statement from the international [...]
IMF warns of lower oil prices in 2019, calls for economic diversification
Oil producing nations have been alerted over a possible decline in crude oil prices, as the International Monetary Fund, IMF, projects that the average price of the product could drop from $62.31 a barrel in 2018 to $58.24 a barrel in 2019.
The IMF in its World Economic Outlook Report launched [...]
NBS to conduct survey on hygiene, others
The National Bureau of Statistics is set to begin a survey on water and sanitation, to provide further context on previously published data on water access, open defecation, and other factors that affects public hygiene.
The study, to be conducted in collaboration with the Federal Ministry of W [...]
RMAFC recovers govt. funds held in banks
A total of N48.7billion has been returned to federal government coffers by the Revenue Mobilization Allocation and Fiscal Commission, RMAFC, from unremitted funds it recovered from collecting banks engaged by some government agencies.
The Commission recently revealed that it had recovered the s [...]
US govt. commends NDIC over academy
The Nigeria Deposit Insurance Corporation, NDIC, has been commended for setting a standard for capacity building on Deposit Insurance System, DIS, in African.
The recent commendation which came from the United States Department of Treasury, particularly commended the NDIC for setting up a world [...]
CBN, Banks distribute start-up kits to SMEs
At least 358 youths took delivery of materials worth N133million in the first phase of the Agribusiness Small and Medium Enterprises Investment Scheme, AGSMEIS, of the Central Bank of Nigeria.
The disbursement is part of the N26billion AGSMEIS fund arrangement of the apex bank and the Deposit M [...]
VAIDS: Buhari bows to pressure, extends deadline
The Presidency may have finally bowed to pressures from some state governors, individuals and business owners to extend its tax amnesty period, as President Muhammadu Buhari last week approved an additional 90days extension of the Voluntary Assets and Income Declaration Scheme.
Minister of Fina [...]
Inflation rate drops by 0.99% in March
Nigeria’s inflation rate dropped by 0.99percent points to hit 13.34percent in March 2018, away from the 14.33 percent recorded in February, the National Bureau of Statistics, NBS, has disclosed.
The Bureau reports in its Consumer Price Index, CPI, which measures inflation, that the figure [...]
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