A total of N648.710 billion has been distributed between the Federal, States and Local Government Councils as Federal Allocation for the month of September, 2018.
The amount, shared at the FAAC meeting presided over by the Minister of Finance, Mrs Zainab Ahmed, represents a decline of N43.13bn [...]
The federal government said it is has concluded arrangement to introduce a performance audit of the Treasury Single Account, to help government assess the management of the account
The Auditor-General for the Federation, Anthony Ayine, said the audit will among other things, seek to determine t [...]
The Central Bank of Nigeria has increased the minimum capital requirement for microfinance banks in the country, with national microfinance banks required to have a minimum capital base of N5billion.
The apex bank announced the upward review of the minimum capital requirement in a circular to a [...]
In spite the general concern over the huge debt profile of Nigeria, the Director General of the Budget Office, Dr. Ben Akabueze, believes the country should rather concentrate in growing its revenue.
Akabueze, who believes Nigeria is currently facing a serious revenue problem, said the focus sh [...]
The Central Bank of Nigeria, CBN, has made a case in support of trade protectionism, stressing that Nigeria should take a cue from the ongoing global trade war by adopting policies to protect the local economy.
Citing example of the foreign exchange restriction placed on 41 items by the CBN, th [...]
The National Insurance Commission has announced the suspension of the implementation of its Tier-based Minimum Solvency Capital policy, following a suit filed against it by some stakeholders in the industry.
NAICOM ask insurance companies to maintain status quo pending the regulatory directive [...]
At least 354 paratatals pensioners under the defined benefit scheme received a total payment of N138.35million as pension arrears in the third quarter of the year.
This figure is from the total pension payment of N23.45billion paid to federal pensioners by the Pension Transitional Arrangement D [...]
The Federal Government has said it will drastically cut down on its borrowing in 2019, even as it proposes a cut in its budget size from the current N9.1trillion to N8.6trillion next year.
The Minister of Budget and Planning, Senator Udo Udoma, made this known during the unveiling of the 2019-2 [...]
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