Business

36% privatised enterprises are failing – BPE

At least 36percent of the privatisation deals handled by the federal government have not lived up to expectations the Bureau of Public Enterprises, BPE, has revealed.

Director General of the Bureau Mr. Alex Okoh, made the assertion at the end of ‘Anti-Corruption and Bribery’ worksho [...]

Sat, 03 November 2018


PenCom fines defaulting employers N129mn

The National Pension Commission, PenCom, said it fined defaulting employers a total of N129.32million between April and June this year, as penalties for failing to contribute into the scheme.

The fine is part of the N465.02million outstanding pension contributions recovered from defaulting empl [...]

Sat, 03 November 2018


AfDB promotes disaster risk management in Africa

The African Development Bank has approved the Africa Disaster Risks Financing Programme, ADRiFi, to boost resilience and response to climate shocks in member countries.

AfDB in a press statement believes that the comprehensive climate risk management programme open to regional member countries, [...]

Sat, 03 November 2018


Corporate governance: CBN limits family influence on BDCs

The Central Bank of Nigeria has limited the number of family members that can be admitted into the board of Bureaux De Change, BDC, operating in the country.

In a new code of corporate governance rules for BDCs, the apex bank stipulates that with effect from December 1, 2018, only a maximum of [...]

Sat, 03 November 2018


Nigeria records N43bn shortfall in September allocation

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 [...]

Sun, 28 October 2018


FG to assess TSA performance

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 [...]

Sun, 28 October 2018


Microfinance banks capital base now N5bn

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 [...]

Sun, 28 October 2018


Nigeria’s debt profile not the issue – Budget Office

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 [...]

Sun, 28 October 2018


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