Sarah NEGEDU

Banks to begin investigating security, IT staff

In its quest to check fraudulent activities among bank staff, the Central Bank of Nigeria, CBN, has directed Deposit Money Banks, DMBs, and Payment Service Providers, PSPs, to conduct background checks on their security and IT staff

In a letter signed by the Director Banking Supervision, CBN, A [...]

Sun, 21 October 2018


Abuja easiest place to start business – World Bank

The World Bank Office in Nigeria has identified the federal capital territory Abuja, as the easiest place to start a business in the country.

Though not listed among states with the biggest strides in improving their business environments, the recent World Bank Doing Business in Nigeria report [...]

Sun, 21 October 2018


Prices of selected food stuff decreased in September – NBS

The National Bureau of Statistics, NBS, says average price of some selected food items in the country decreased in September. The bureau disclosed this in its “Selected Food Price Watch’’ (September 2018) report released in Abuja.

The NBS said the average price of one dozen of [...]

Sat, 20 October 2018


David Mark’s daughter dumps PDP, slams father

A daughter of David Mark, former Senate President, Mrs. Blessing Onuh, has announced her resignation from the Peoples Democratic Party, PDP, over what she described as "severe fraud and manipulations" that took place during the party's primary elections in Benue state. 

O [...]

Sat, 20 October 2018


CBN charge MfBs on technical supports for SMEs

Operators of microfinance banks in the country have been charged to come up with other ingenious measures to support Small and Medium-scale Enterprises, as the provision of loans alone is not enough to make them succeed.

The Central Bank of Nigeria asked microfinance institutions that provide c [...]

Sun, 14 October 2018


Staff of defunct Nigeria Airways get N22bn severance package

Former staff of the defunct national carrier, Nigeria Airways, will from Monday next week start receiving payment of their severance benefits from federal government.

The Minister of Finance, Mrs. Zaibab Ahmed in a statement in Abuja, said the payment worth N22.6billion will last for seven days [...]

Sun, 14 October 2018


Tax: FG to levy owners of assets abroad

Owners of assets outside the shores of the country have been given a 12month grace period, starting from October 8, within which they must declare and pay taxes on their assets abroad.

This directive follows the recent signing of the new executive order number eight, tagged Voluntary Offshore A [...]

Sun, 14 October 2018


World Bank/IMF meeting and murky shadow on Nigeria

Economic projections on Nigeria were relatively gloomy at the just concluded annual meetings of the International Monetary Fund and World Bank Group, with experts predicting low economic growth among other indicators.

The country currently sits at a distant 152nd position among 157 countries, i [...]

Sun, 14 October 2018


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