States generate N31billion tax revenue in May 2016

The 36 states of the federation were said to have generated a total of N31, 324,433,480.10billion in gross value added tax, VAT, in May 2016, figures from the Office of the Accountant General of the Federation has shown.
The figure contained in the monthly Federation Account Allocation Committee [...]

Mon, 11 July 2016

Skye Bank squabbles, no cause for alarm-CBN

The Central Bank of Nigeria, CBN, has dismissed allegations that some banks in the country may be distressed, saying all deposit money banks in the country are in good financial condition.
The assurance became necessary following the replacement of most members of the board and management of Sky [...]

Mon, 11 July 2016

NIPOST to make free postal deliveries to IDP camps

All area postal managers in the country have been directed to make every items meant for delivery at the Internally Displaced Persons camps free of charge, management of the Nigerian Postal Service, NIPOST, have said.
This, according to the Acting Postmaster General of the Federation, Dr. Richar [...]

Sat, 11 June 2016

FG assures Nig. bond investors of better investment yields

The federal government has guaranteed holders of the nation’s Eurobonds of the safety of their investments, saying despite bleak economic outlook, the Nigerian government is working at strengthening its economy in the shortest possible period.
Nigeria’s Minister of Finance Mrs. Kemi [...]

Sat, 11 June 2016

Banks put hold on mass retrenchment

The federal government’s threat to Deposit Money Banks to stop sack of its staffers or risk withdrawal of their operational licenses may have paid off, as the banks last week agreed to suspend the mass sack of workers.
The bank chief executive officers under the aegis of the Bankers’ [...]

Sat, 11 June 2016

FG to disburse N95bn to 400 businesses in June

There were indications last week that the federal government has reached advanced stage for the disbursement N95billion to 400 businesses, under its Government Enterprise and Empowerment Programme, GEEP, intervention programme.
According to the Bank of Industry, BoI, the fund which is part of th [...]

Sat, 11 June 2016

Informal sector contributes 92% to agric growth

Despite the calls for the diversification of the Nigerian economy to more reliable sectors such as agriculture, growth in the sector has been largely informal at an estimated 91.85percent share.
Data on formal and informal sector split of the nation’s Gross Domestic Product for 2015 shows [...]

Sat, 11 June 2016

Abuja makes list of highest telcom subscribers

Approximately 6.03million of the total number of active telecommunication subscribers recorded in the first quarter of 2016 were resident in the Federal Capital territory at the time.
The figure which represent 4.05percent of the total number of 148.74million active subscribers in the country be [...]

Mon, 06 June 2016


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