President Muhammadu Buhari has ordered for the review of the revenue reporting template between the NNPC and the Federation Account Allocation Committee (FAAC). The Minister of Finance, Mrs Kemi Adeosun conveyed the President’s directive on Friday while giving a breakdown on how N821.9 billion revenue generated in June was shared among the three tiers of […]
Continue Reading
Facebook is in deep financial difficulty after its Chief Executive Officer (CEO), Mark Zuckerberg lost more than $16 billion in less than 24 hours. The company reported weaker-than-expected second-quarter results and issued guidance that its financial future is not as rosy as some investors thought it might be. Set against this backdrop, one activist investor […]
Continue Reading
The Naira on Wednesday gained marginally against the dollar at the parallel market in Lagos. The Nigerian currency gained 50 kobo to close at N358, stronger than N358.5 traded on Tuesday, while the Pound Sterling and the Euro closed at N480 and N418.5 respectively. At the Bureau De Change (BDC) window, the naira closed at […]
Continue Reading
The Naira on Monday remained stable at the parallel market in Lagos exchanging at N358 to the dollar. The Nigerian currency had exchanged at same rate on July 20, while the Pound Sterling and the Euro closed at N480 and N418 respectively. At the Bureau De Change (BDC) window, the Naira was sold at N360 […]
Continue Reading
The rate at which the prices of good and services are increasing is on the rise, the National Bureau of Statistics says. NBS, in a data made available on Monday showed that month-on-month inflation rose from 1.09 percentage points in May to 1.24 percentage points in June. However, year-on-year inflation slowed from 11.61 percentage points […]
Continue Reading
Four major Nigerian banks have engaged in a social media battle, throwing banters at each other on their Twitter handles. Those involved in the battle of wits are Sterling Bank, Access Bank, First Bank and Union Bank. The fight started when Sterling Bank tweeted a picture of its new marketing collateral. The picture depicted different […]
Continue Reading
Federal, States and Local Government Councils have shared N668. 89 billion from the federation account as revenue generated in May. The Director of Information, Federal Ministry of Finance, Hassan Dodo, made this known in a statement on Friday in Abuja. Dodo, however, said that the distribution of the funds did not signify the end of […]
Continue Reading
A report by TheCable has shown that Aso Rock, Nigeria’s seat of executive power, failed to remit taxes, such as pay as you earn (PAYE), value added tax (VAT) and withholding tax (WHT), to the Federal Inland Revenue Service (FIRS) in 2016 — despite deducting at source. The two chambers of the national assembly also failed […]
Continue Reading
President Muhammadu Buhari has appointed Muiz Banire, a senior advocate of Nigeria (SAN), as chairman of the governing board of the Assets Management Corporation of Nigeria (AMCON). Banire is the former legal adviser of the ruling All Progressives Congress (APC). His appointment is subject to the confirmation by the senate. On Tuesday, Senate President Bukola Saraki […]
Continue Reading
Skye Bank Plc., has flagged off its Money Transfer promo tagged “Skye Money Transfer promo” aimed at rewarding the bank’s loyal customers scheduled to run from the 1st of July till 30th of September, 2018. This notice was contained in a statement from the bank which quoted the Group Head, Product & Innovation Group of […]
Continue Reading