Business

Maritime: Nigeria losses $500m annually - SOAN

President, Ship owners Association of Nigeria,Mr Greg Ogbeifun, SOAN, has said that Nigeria losses $500 million annually to foreign shipping operators in the country.

He told reporters in an interview in Abuja that Nigeria tax policies and levies were affecting the maritime business.

Acc [...]

Sat, 03 November 2018


FGFG to kick-off nat’l programme for broadband penetration

The federal government has concluded arrangement for a national programme for Infrastructure Companies, InfraCos, to increase broadband penetration in the country starting later in the year.

The four year intervention seeks to increase broadband penetration across all geopolitical zones of the [...]

Sat, 03 November 2018


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


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The non-release of the 2018 budget of the Federal Capital Territory Administration, FCTA, has grounded both capital and statutory activities of the [...]

11 November 2018

PhotoNon-release of FCTA 2018 budget grounds activities

The non-release of the 2018 budget of the Federal Capital Territory Administration, FCTA, has grounded both capital and statutory activities of the [...]

11 November 2018