The Accountant-General of the Federation (AGF), Mr Ahmed Idris, on Tuesday said N617.56 billion revenue generated in March was shared from the federation account to the three tiers of government. The amount showed a decrease of about N2.29 billion from what was shared in February. Idris said this at a news conference at the end […]
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The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) says it has recovered about N118 million from two commercial banks in the country. The panel’s Head, Media and Communication, Lucie-Ann Laha, made this known in a press statement in Abuja on Tuesday. According to her, the recoveries were made as a result […]
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The Federal Government of Nigeria has inspected 64 coaches under construction in China for the various rail projects in Nigeria with 10 coaches to be delivered in June for Abuja-Kaduna rail corridor. The Minister of Transportation, Rotimi Amaechi, led a delegation to China to inspect the level of work at the Chinese Railway Rolling-stock Corporation […]
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Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation, Tony O. Elumelu has called for far reaching Tax reforms and for the National Assembly to urgently pass the Executive Tax bill into law. Elumelu made this statement as he delivered the keynote address at the 21st Annual Tax Conference of the Chartered Institute of Taxation of […]
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Facebook on Wednesday reported quarterly profit sank 51 percent from a year earlier due to setting aside of $3 billion for an anticipated fine from US regulators. The leading social network logged a profit of $2.4 billion on revenue that climbed 26 percent to $15.1 billion in the first three months of this year. The […]
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The Federal Government has announced that it is decentralising the Nigeria Mining Cadastre Office for ease of operations, adding that this will cut down the time for processing licences from 45 to 15 days. The Minister of State for Mines and Steel Development, Bwari Abubakar, disclosed this in Lagos on Tuesday, during the Nigeria Mining […]
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The Nigerian Communications Commission (NCC) on Monday said that telecommunications operators carried out 14,639 Mobile Number Portability activities in February 2019. The NCC made this known in its “Incoming and Outgoing Porting Activities of Mobile Network Operators’ Report’’ on its website. The commission said in the report that 10,650 subscribers ported within the networks in […]
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The Chairman of Momas Electricity Meter Manufacturing Company Ltd., (MEMMCOL), Lagos, Kola Balogun, says indigenous meter manufacturers have commenced massive production of meters. This he said was to meet the Nigerian Electricity Regulatory Commission (NERC’s) directive of May 1, rollout deadline. Balogun disclosed this in an interview with the News Agency of Nigeria (NAN) on […]
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Guaranty Trust Bank plc has released its unaudited Financial Results for the quarter ended March 31, 2019 to the Nigerian and London Stock Exchanges. The Bank recorded positive performance across all financial metrics with gross earnings for the period growing by 1.2% to ₦110.3billion from ₦109.0billion posted in March 2018. Profit before tax improved to […]
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In furtherance of its plans to scale its operation this year, NOVA Merchant Bank Limited, in yet another milestone, has received an investment grade rating from both Agusto & Co (Bbb) and Global Credit Ratings (BBB-). The reasons given for the Bank’s rating include the strength of the Board and management team, robust capitalisation, prudent […]
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