Business

NNPC N12bn deficit affects revenue allocation to states, others

Government revenue for the month of March 2018, dropped by N77billion due to a N12billion underpayment from the Nigerian National Petroleum Corporation, NNPC, and a 13 percent decrease in crude oil export sales.

According to the Federation Account Allocation Committee, FAAC, gross statutory rev [...]

Fri, 27 April 2018


NCC remits N49.7bn to Consolidated Revenue Fund in Q1

The Nigerian Communications Commission, NCC, said it has remitted over N49.7billion into the Consolidated Revenue Fund, CRF, account n the first quarter of the year 2018.

With this remittance, the commission has taken the lead in making early payments to the CRF as it generates revenue, as agai [...]

Fri, 27 April 2018


FG moves to end IPSAS migration issues

 

The Office of the Accountant General of the Federation said it is making moves to tackle some of the teething problems affecting the migration from the International Public Sector Accounting Standards, IPSAS, cash basis to IPSAS accrual basis.

Speaking at a retreat on ‘First [...]

Fri, 27 April 2018


EIB, AfDB, provides $70m for private sector investment in Nigeria

The European Investment Bank, EIB, and the African Development Bank, AfDB, have both finalised arrangement to provide a US $70million equity stake in the Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.

A statement from the international [...]

Mon, 23 April 2018


IMF warns of lower oil prices in 2019, calls for economic diversification

Oil producing nations have been alerted over a possible decline in crude oil prices, as the International Monetary Fund, IMF, projects that the average price of the product could drop from $62.31 a barrel in 2018 to $58.24 a barrel in 2019.

The IMF in its World Economic Outlook Report launched [...]

Mon, 23 April 2018


NBS to conduct survey on hygiene, others

The National Bureau of Statistics is set to begin a survey on water and sanitation, to provide further context on previously published data on water access, open defecation, and other factors that affects public hygiene.

The study, to be conducted in collaboration with the Federal Ministry of W [...]

Mon, 23 April 2018


RMAFC recovers govt. funds held in banks

A total of N48.7billion has been returned to federal government coffers by the Revenue Mobilization Allocation and Fiscal Commission, RMAFC, from unremitted funds it recovered from collecting banks engaged by some government agencies.

The Commission recently revealed that it had recovered the s [...]

Mon, 23 April 2018


US govt. commends NDIC over academy

The Nigeria Deposit Insurance Corporation, NDIC, has been commended for setting a standard for capacity building on Deposit Insurance System, DIS, in African.

The recent commendation which came from the United States Department of Treasury, particularly commended the NDIC for setting up a world [...]

Mon, 23 April 2018


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PhotoWe’ll fish out Shi’ites, Abuja natives to security agents

 

 

 

 

 

 

 

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26 August 2019