President Muhammadu Buhari has approved the nomination of Folashodun Shonubi as deputy governor at the Central Bank of Nigeria (CBN), subject to senate confirmation. Garba Shehu, senior special assistant to the president on media and publicity, made this known in statement in Abuja on Friday. Shonubi is currently the managing director of the Nigeria Inter-Bank […]
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The Distillers and Blenders Association of Nigeria (DIBAN) says it rejects the new ”astronomical increase” in excise duty being imposed on domestic wines and spirits. The Chairman of DIBAN, Chief Patrick Anegbe told newsmen on Wednesday in Lagos, that the hike was a threat to the N420 billion investment of the industry. Anegbe said that […]
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The subject of this piece might look like an aberration, given the fact that it is somewhat hard to find a financial institution that will – outside its primary function of providing financial services- go out of its was to promote arts, culture and entrepreneurship. But it is a possibility and Guarantee Trust Bank Plc, […]
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Fellow Nigerians, recently approved excise duty for alcoholic beverages and tobacco will take effect on Monday, June 4, 2018. Recall that President Muhammadu Buhari had approved the amendment to the excise duty rates in March. The amendment came after Kemi Adeosun, minister of finance, wrote to the president seeking approval for the excise reviews that […]
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The Vice-President of Nigeria, Professor Yemi Osinbajo says Nigeria did not sign the African free continental trade agreement (AfCTA) because the federal government wanted to satisfy the private sector. Speaking on Thursday at the FT Nigeria Summit, the vice-president said the private sector was not happy with the specifics of the agreement. He said: “With […]
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The Central Bank of Nigeria (CBN) has eased the stress of all intending travellers by mandating all money banks to sell foreign currency over the counter with the presentation of passports and air tickets. While giving the order in a statement issued by its acting director of corporate communications, Isaac Okorafor on Saturday evening, the apex […]
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The Federal Government, states and local governments shared N701 billion as revenue for the month of April, the Permanent Secretary, Ministry of Finance, Mahmoud Isa-Dutse, said on Wednesday in Abuja. Mr Isa-Dutse said the amounts shared were the outcome of Federal Account Allocation Committee (FAAC) meeting. Giving a breakdown of the revenue accrued in April, […]
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Pan-African Financial Services Institution, United Bank for Africa (UBA) Plc will be rewarding its loyal customers who refer friends and family to the bank in its new diaspora campaign. The campaign is designed to reward customers of the bank who refer their Diaspora friends/relatives to open a UBA account. Specifically, this campaign will last for […]
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Brent crude oil rose above 80 dollars a barrel on Tuesday, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Brent crude futures rose to $80.41 a barrel, by 11:12 a.m. EDT (1512 GMT). U.S. West Texas Intermediate (WTI) crude rose 59 cents to […]
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The Aliko Dangote Foundation has flagged off its one-off and unconditional Micro-grants Programme in Niger State with 25,000 disadvantaged women as beneficiaries bringing the total number of women beneficiaries to 256,500 across seven states of the federation. Chairman of the Aliko Dangote Foundation, Aliko Dangote said weekend at the flag-off ceremony held at the Justice […]
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