The Federal Government, States and Local Government Areas (LGAs) shared N762.5 billion as federal allocation for the month of June. Mr Ahmed Idris, the Accountant-General of the Federation (AGF), said this on Thursday in Abuja, while addressing newsmen at the end of the Federation Accounts Allocation Committee (FAAC) meeting. He said that the gross statutory revenue […]
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The Central Bank of Nigeria (CBN) has issued operating licence to three new banks to operate in the country. The new banks are Titan Trust Bank Limited, TAJ Bank Limited and Globus Bank Limited. According to the apex bank, Titan Trust and Globus Bank will operate as commercial lenders while TAJ Bank Limited was licensed […]
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The Nigerian National Petroleum Corporation (NNPC) says it has signed a 3.15 billion dollars Financing and Technical Services Agreement between Sterling Oil Exploration and other partners for the development of Oil Mining Lease (OML) 13. The corporation disclosed this in a statement signed by Mr Ndu Ughamadu, its Group General Manager, Group Public Affairs Division, […]
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The Federal Government says it is considering banning importation of milk because it can be produced in the country to grow the economy. The Central Bank Governor, Mr Godwin Emefiele, who disclosed this while addressing newsmen after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday said the Federal Government would soon put restrictions […]
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The Nigerian Communications Commission (NCC) says it is working on ensuring the availability of spectrum to boost broadband deployment and penetration in the country. The Executive Vice Chairman, NCC, Prof. Umar Dambatta, made this known during the 14th Annual Technology Africa Leadership Roundtable, held on Friday night in Lagos. The theme of the Roundtable is: […]
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The Director-General, Nigeria Agricultural Quarantine (NAQS), Dr. Vincent Isegbe, says Nigeria will soon resume exportation of hibiscus flower to Mexico. Isegbe who made this kniwn on Thursday in Kano, at a stakeholders’ sensitisation workshop, said that the exportation would resume after two-and-a-half years of banning the country from exporting the product. According to him, the […]
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The Naira on Thursday gained marginally to the dollar at the parallel market in Lagos, exchanging at N358.5 to the dollar. The Pound Sterling and the Euro closed at N462 and N407, respectively. At the Bureau De Change (BDC) segment, the naira was sold at N360 to the dollar while the Pound Sterling and the […]
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The Joint Tax Board (JTB) Chairman, Mr Tunde Fowler, on Thursday unveiled the South West Regional National Tax payer Identification Number (TIN). Fowler said, at the inauguration ceremony of the new TIN registration system and consolidated national taxpayers’ database in Lagos, the new system would promote a tax friendly environment. Fowler, also the Executive Chairman, […]
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Ms Christine Lagarde, the Managing Director, International Monetary Fund (IMF), has resigned, the IMF says. The Executive Board of the fund said this in a statement issued by it on Tuesday in Washington D.C., adding that it has accepted Lagarde’s resignation with effect from Sept. 12. “We would like to express our greatest appreciation for […]
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Nigeria’s inflation eased sharply lower in June to 11.22 percent year on year, a 0.18 percent points decrease than 11.40 percent posted in May. Latest data released by the National Bureau of Statistics (NBS) on Tuesday showed that the headline index fell to 1.07 percent on a month-on-month basis, indicating a decline of 0.04 percent […]
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