Kemi Adeosun, Minister of Finance, said on Tuesday that the Federal Government, states and local governments shared N467.8 billion as allocation in August. This indicates a shortfall in revenue by N184.2 billion from N652 billion shared in July. Adeosun, who was represented by the Permanent Secretary, Mr Mahmoud Dutse, said this at the end of […]
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Seven major drinks companies including Coca-Cola and PepsiCo will limit the sugar content of drinks they sell in Singapore, as part of the city-state’s campaign to fight diabetes. Singapore is one of the first countries in Asia to target sugary drinks, bringing it in line with many Western nations that have sought to mitigate the […]
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The Nigerian Civil Aviation Authority, NCAA, says it has downscaled the Certificate of Airworthiness of FirstNation Airways as a scheduled operator to a non-scheduled operator over alleged violation of safety procedures. Muhtar Usman, the Director-General of the agency, told journalists in Lagos on Monday that the airline had been operating only one aircraft for nine […]
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The National Bureau of Statistics has released data showing that 8,663 people were “sacked” by Nigerian banks between January and June 2017. When broken down, the data shows that an average of 360 people have been sacked every week from January to June 2017. The figures were higher in the first quarter and lower in […]
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Foremost Nigerian financial institution, Access Bank Plc has rewarded 120 of its loyal customers whilst promoting financial inclusion and encouraging a savings culture in Nigeria. This is in line with the Federal Government’s quest to boost economic growth in the country. The Bank recently introduced the family fortune promo tagged “Save Today, Take Tomorrow” to […]
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The Nigerian National Petroleum Corporation (NNPC) says it has successfully reduced the cost of producing one barrel crude oil to $23 from $78 as at August 2015, has therefore been able to save about $3 billion annually. According to a statement signed by Ndu Ughamadu, the corporation’s spokesman, this fact was disclosed at the inauguration […]
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Guaranty Trust Bank plc, “GTBank” has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges. A review of the half year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by […]
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The joint tax board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing information of high net worth individuals to profile their income and tax payments. Speaking at the 138th meeting of the JTB on Sunday, Babatunde Fowler, executive chairman of the FIRS, said 12 states have signed the memorandum of understanding under […]
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Igo Weli, general manager, external relations of Shell Petroleum Development Company (SPDC) stated that the remitted $29.8 billion to the federation account and $1.2 billion to Niger Delta Development Commission (NDDC) between 2002 and 2016. He made the disclosure on Monday while reacting to the shut down of SPDC flow station and gas plant in […]
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The Federal Executive Council, FEC, on Wednesday approved the refinancing of the country’s domestic debts into treasury bills worth $3 billion as part of the overall strategy of government to reduce the cost of borrowing. The Minister of Finance, Kemi Adeosun, gave the indication while addressing State House Correspondents on the FEC meeting presided by […]
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