The National Bureau of Statistics (NBS) says the net Federal Account Allocation Committee (FAAC) allocation to the 36 states in 2017 Fiscal Year stood at N1.73 trillion. The NBS stated this in “Internally Generated Revenue (IGR) at State Level for 2017 report’’ published on the bureau’s website. Meanwhile, the NBS stated that the full year […]
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The Second richest man in the world and co-chairman of the Bill and Melinda Gates Foundation, Bill Gates, says the execution process of the economic and recovery growth plan (ERGP) of President Muhammadu Buhari does not reflect the needs of Nigerians. The ERGP is a medium-term document launched in 2017 to restore the nation’s economic status […]
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Teleology Holdings Ltd., says it is transferring a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile. The company made this known in a statement signed by Mr Adrian Wood, Teleology’s Director and pioneer Managing Director of MTN Nigeria. Wood said the payment underscored Teleology’s […]
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Oil marketers have commenced a reduction of their workforce due to their inability to pay staff salaries, the News Agency of Nigeria (NAN) reports. Some of the marketers, who preferred anonymity, confirmed to NAN on Wednesday in Lagos that they resorted to adopt a massive sack of their workers as the Federal Government had yet […]
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Guaranty Trust Bank (GTB) plc has released its audited financial results for the year ended December 31, 2017 to the Nigerian and London Stock Exchanges. A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria. Gross […]
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Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production and as the U.S. economy continued to create jobs, which industry hopes will drive higher fuel demand. Brent sweet crude was at 65.70 dollars per barrel, up 21 cents, or 0.3 per cent, […]
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Nigeria’s External Reserves are steadily heading towards the $50 billion mark, berthing at $46 billion as at the close of business on Friday, March 9, 2018. Figures obtained from the Central Bank of Nigeria (CBN) at the weekend indicate that the reserves grew by about $3.2 billion between February and March 2018. The reserves at […]
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Coca-Cola company, a beverage company, has revealed planns to produce an alcoholic drink for the first time in the 125 years of its existence. In September, the West African arm of the company had announced plans of spending $600 million on expanding its production lines. Peter Njonjo, president of the West Africa operation at Coca-Cola, […]
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Data obtained from the Central Bank of Nigeria showed on Wednesday, showed that Nigeria’s foreign reserves hit $43.2bn on March 6, 2018. The foreign exchange reserves had recorded a four-year high at $42.76bn on March 2, after commencing this year at $38.77bn. The foreign reserves have gained about $3.99bn or 10.3 per cent this year. […]
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Are you a Nigerian undergraduate that wants to be empowered with creative skills? Look no further, as Guaranty Trust Bank plc, is set to hold the maiden edition of the GTCrea8 Convention for Undergraduates, on Thursday, March 8, 2018 at the University of Lagos, Akoka. The above mentioned event is a one day convention with […]
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