Sarah NEGEDU

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


Nigeria needs 400,000 teachers - NUT

The Nigeria Union of Teachers, NUT, has said the country requires over 400,000 teachers in primary and secondary schools to address the deficit currently experienced in the basic education subsector.

National President of NUT, Comrade Nasir Idris, who stated this in Abuja at the 2018 World Teac [...]

Sun, 07 October 2018


Flood threatens rice production, agric minister warns

The federal government has warned that the country is likely to experience shortage in rice production, owing to the flash flood currently being recorded in parts of the country.

The Ministry of Agriculture and Rural Development cautioned that if adequate measures were not taken to replant the [...]

Sun, 07 October 2018


Telecoms attract $5bn quarterly investment

Investment into the telecom sector in Nigeria has been steadily attracting deals worth $5billion every quarter since the beginning of 2018, bringing total investment in the sector since 2001 to $85billion.

According to the Nigerian Communications Commission, NCC, sector’s contribution to [...]

Sun, 07 October 2018


NDIC pays N11.50bn to failed bank depositors

The Nigeria Deposit Insurance Corporation, NDIC, said it has paid over N11.50billion to depositors, creditors, and shareholders of failed banks as at 2017.

The Managing Director of NDIC, Alhaji Umaru Ibrahim, who disclosed this at the NDIC’s Special Day at the 13th Abuja International Tra [...]

Sun, 07 October 2018


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Benue State Governor Samuel Ortom has announced that he is still with his deputy, Engr Benson Abounu, as his running mate in next year's genera [...]

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Photo2019: Ortom Retains Deputy as Running Mate

Benue State Governor Samuel Ortom has announced that he is still with his deputy, Engr Benson Abounu, as his running mate in next year's genera [...]

15 October 2018