In developing economies, the key to socio-economic growth is access to finance, but the challenge is to increase loans to individuals and SMEs without suffering the fall-out of bad debt. The Central Bank of Nigeria (CBN) increased the minimum loan-to-deposit ratio (LDR) of commercial banks from 60 percent to 65 per cent in the latter […]
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The Peoples Democratic Party (PDP) has called on President Mohammadu Buhari and Vice President Yemi Osinbajo to publicly declare their assets. The party made the call in a statement issued by its Deputy National Publicity Secretary, Mr Diran Odeyemi, on Friday in Abuja. Odeyemi also urged the President of the Senate, Sen. Ahmed Lawan and the […]
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The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Sen. Stella Oduah-Ogiemwonyi over an unpaid debt of about N20 billion. AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos against Sea Petroleum Oil & […]
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The Federal Government of Nigeria, on Wednesday applied to the Federal High Court in Abuja to temporarily seize some properties belonging to the Deputy Senate President, Ike Ekweremadu, for failing to declare the assets to the Code of Conduct Bureau. Nine of the targeted properties are said to be in Abuja, two of them in […]
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The Asset Management Corporation of Nigeria (AMCON) on Tuesday took over the assets of Daily Times Nigeria Plc, a foremost media establishment over huge outstanding loan. The corporation in a statement signed by its Head, Corporate Communications, Mr Jude Nwauzor, said that the take over was in continuation of AMCON recovery activities in the new […]
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The federal government and some foreign countries including the United Kingdom, have started the automatic exchange of tax information (AETI), on overseas assets owned by Nigerians. Kemi Adeosun, minister of finance, made this known on Friday during the presentation of the progress report on tax laws reform by Taiwo Oyedele, vice chairman of the national […]
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