Operating surplus: FG to review laws against defaulting MDAs

To curb the growing trend of evading payments into the Consolidated Revenue Fund by some government agencies, the federal government has directed all listed agencies to pay their operating surpluses into the CRF before making any investment.

The Fiscal Responsibility Commission had recently rev [...]

Sun, 12 August 2018

FG moves to improve operations of free trade zones

The Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah, has said government is reviewing fiscal arrangements and incentives applicable to the country’s free trade zones so as to improve their operations.

He said the Nigeria Industrial Council had been working to review the [...]

Wed, 01 August 2018

MPC worried over FG, States’ failure to save

The Monetary Policy Committee of the Central Bank of Nigeria is worried over the continued failure of fiscal authorities to build economic buffers so as to cushion the threat of declining revenue in the future.

Raising from its third meeting this year, the committee regrets that despite several [...]

Wed, 01 August 2018

Inflation rate drops by 0.37% in June

Nigeria’s inflation rate has dropped to 11.23percent (year-on-year) from 11.61percent recorded in May 2017, making it the 17th consecutive month that the index would be recording continuous decline since January 2017.

The National Bureau of Statistics reports that the Consumer Price Index [...]

Wed, 01 August 2018

NEXIM Bank to disburse N25bn for non-oil export

As part of efforts aimed at stimulating the non-oil sector in the country, the Nigerian Export-Import, NEXIM- Bank, has received approval for a N25billion credit facility for exporters in the non-oil sector.

The loan, NEXIM Bank says will be disbursed to exporters of agricultural and value-adde [...]

Wed, 01 August 2018

NAICOM to unveil fresh guideline for recapitalization

The National Insurance Commission, NAICOM, will this week unveil the transitional guideline on the new recapitalization in the insurance industry.

NAICOM had last week announced a risk-based recapitalisation of the insurance sector with the introduction of 3-tier based recapitalisation for insu [...]

Wed, 01 August 2018

FG, states pay June salaries, to decide on NNPC

The states and federal governments have finally agreed to put on hold their prolong disagreement with the Nigerian National Petroleum Corporation, NNPC, over its revenue remitted into the federation account.

Recall that the disagreement with the revenue generating agency had led to delay in pay [...]

Sat, 21 July 2018

CBN begins Naira, Yuan currency swap

The Central Bank of Nigeria, CBN, has officially begun implementation of the Bilateral Currency Swap Agreement, BCSA, signed with the Peoples Bank of China.

The apex bank Friday, announced the flagged off its intervention in the sale of foreign exchange in Chinese Yuan, CNY, through a combinati [...]

Sat, 21 July 2018


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PhotoOnnoghen: Before Nigeria descends into anarchy

Last Friday, President Muhammadu Buhari bared his Sun King syndrome when he announced the ‘suspension’ of the Chief Justice of Nigeria, [...]

28 January 2019

PhotoOnnoghen: FG warns U.S, U.K NBA plans court boycott · MURIC backs Buhari

The federal government has warned the United States of America and the United Kingdom to stay away from the country’s internal affairs.

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28 January 2019