Category: Finance and Economy

WE’RE TACKLING CHALLENGES THAT UNDERMINE BUSINESSES, INVESTMENTS, PRESIDENT BUHARI TELLS DANGOTE GROUP

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WE’RE TACKLING CHALLENGES THAT UNDERMINE BUSINESSES, INVESTMENTS, PRESIDENT BUHARI TELLS DANGOTE GROUP

President Muhammadu Buhari Friday in Abuja urged entrepreneurs and investors to channel ideas and resources into areas of the economy that stimulate growth, with long-term effect on job creation and poverty reduction, assuring that fixing infrastructure remains government’s top priority.Receiving Chairman of Dangote Industries Ltd, Alhaji Aliko Dangote, and Board members of the Group at…

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Finance and Economy, Governance

CBN e-valuation: Clearing Agents Paralyses Port Operations As They Embark On Strike

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CBN e-valuation: Clearing Agents Paralyses Port Operations As They Embark On Strike

Following the implementation of the new e-valuation policy at the Ports and the subsequent rejection of the new system by the Association of Clearing Agents, Ports operations at both Tin-Can Island and the Ports & Terminal Multipurpose Limited may have been grounded on Monday, following the commencement of the withdrawal of services by agents and…

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Employment, Labour & Productivity, Finance and Economy

CBN To Cease Sale Of FOREX To Banks By Year End – Emefiele

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CBN To Cease Sale Of FOREX To Banks By Year End – Emefiele

The Central Bank of Nigeria has revealed that it would stop the sale of foreign exchange to banks by the end of the year. CBN Governor, Godwin Emefiele, said the banks must begin to source their forex from export proceeds. “The era is coming to an end when, because your customers need 100million dollars in…

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Finance and Economy

NASS TO CBN: Account For Missing $40million

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NASS TO CBN: Account For Missing $40million

The Central Bank of Nigeria (CBN) has been directed to provide details of the $40million recovered by the Economic and Financial Crimes Commission (EFCC) in its recovery account domiciled in the apex bank. The House of Representatives’ Public Accounts Committee (PAC) on Tuesday launched an investigation into the allegedly missing funds based on an audit…

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Finance and Economy

Fuel Queues Return To Abuja, Lagos, Others

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Fuel Queues Return To Abuja, Lagos, Others

Investigations by Rextun City Updates from last week to late hours of Monday have revealed that following the supply of a wrong specification of petrol in some parts of the country, and its subsequent removal in compliance with a government order, long queues have once more returned to petrol stations in Abuja, Lagos, and some…

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Finance and Economy

PROJECTS: Executive Council Approves N15b CBN Fund Access In Rivers

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PROJECTS: Executive Council Approves N15b CBN Fund Access In Rivers

The Rivers State Executive Council has approved access to N15 billion facility from the Central Bank of Nigeria (CBN) Infrastructure Fund, to accelerate the completion of three critical projects. According to a statement signed by Kelvin Ebiri, Special Assistant on Media, to Governor Nyesom Wike, the three major projects are the -Okoloma Road; Chokocho-Igbodo Road…

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Finance and Economy, Governance

FUEL SUBSIDY: Experts Warn Against Loan For Funding

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FUEL SUBSIDY: Experts Warn Against Loan For Funding

Following the eighteen month petroleum subsidy extension given by the Fed­eral Government, indus­try experts have warned against relying on foreign loans to fund the subsidy budget. Prof John Ebhomien, former World Bank/Inter­national Monetary Fund (IMF) economist and finan­cial management expert and development econo­mist, maintained that the country should not cave in to the whims and…

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Finance and Economy, Governance

Kwara Gov signs 2022 budget as CAPEX hits 56%

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Kwara Gov signs 2022 budget as CAPEX hits 56%

•budget prioritizes project completion, workers’ welfare•House commends govt for prudence Kwara State Governor AbdulRahman AbdulRazaq on Friday signed the 2022 budget, with the capital expenditure now pegged at 56%, indicating a commitment to complete many of the ongoing infrastructural projects. The size of the budget is N189,617,487,624 — 44% of it being for recurrent expenditure….

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Finance and Economy, Governance

CBN Releases Revised Fees Chargeable on Interbank Transfers, Slash ATM Charges

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CBN Releases Revised Fees Chargeable on Interbank Transfers, Slash ATM Charges

The Central Bank of Nigeria has announced a downward review of charges for electronic banking transactions in its revised guidelines to charges by Banks, other Financial Institutions and Non-Bank Financial Institutions. This was confirmed in a circular released on Friday by the apex bank’s Director, Financial Policy and Regulation Department, Chibuzor Efobi, titled, “RE: GUIDE…

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Finance and Economy, News