Business

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


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


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


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