Business

The Federal Ministry of Finance on Tuesday provided some clarifications on the Paris Club Refund approved for the 36 States of the Federation.   It will be recalled that the issue of Paris Club loan over-deduction had been a long standing dispute between the Federal Government and the State Governments which dated back to the period of 1995 to 2002. …

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  Photo Caption: From Left: Past President, The Chartered Institute of Bankers of Nigeria, Dr Segun Aina, Past President, CIBN Mr Okechukwu Unegbe, Former Minister of Economic Development  Alh Umaru Mutallab and Acting Director General, Securities and Exchange Commission, Ms Mary Uduk during the 11th Annual Banking and Finance Conference of CIBN in Abuja yesterday

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MTN Nigeria has gone to court to challenge the directive of the Central Bank of Nigeria (CBN) that the telecoms company should refund $8.134 billion illegally repatriated from the country and the demand by the Attorney General of the Federation (AGF) that it should pay $2 billion tax arrears to the federal government. In a suit at the Federal High …

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The Federal, States and Local Government Areas across the country shared a total of N3.95 trillion from the Federation Account in the first half of 2018. The disbursements made at the Federation Accounts Allocation Committee (FAAC) represent an increase of 41 percent when compared to the N2.79 trillion disbursed in the first half of 2017 and a 95 percent increase …

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Diamond Bank Plc has announced the launch of  SMEZONE– a digital platform based business community for Small and Medium-scale Enterprises (SME) in the country where they can easily access relevant, network and be mentored with & by other entrepreneurs, attend webinars, receive newsletters and participate in competitions that ultimately help position their business for greater success. Commenting on the innovation, Head, Corporate …

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The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period. As part of efforts to achieve this target, the FIRS said it had started introducing some initiatives, according to a communiqué issued after a recent meeting of the Joint Tax Board. Part of …

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The 2018 annual conference of the Finance Correspondents Association of Nigeria (FICAN) will hold in Lagos on 15th and 16th of September, 2018. The conference, with the theme: “Banks, Fintech and Nigeria’s Financial Inclusion Journey,” has the Central Bank of Nigeria (CBN) Governor as the keynote speaker. There will also be representatives from the Nigeria Deposit Insurance Corporation (NDIC). The …

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…… Definite Hearing Commences October 2 Chief Magistrate Chinyere Nweoachenu of Wuse Magistrate Court in Abuja has dismissed all applications brought before her by BGL Plc and her subsidiaries objecting to their trial before the court. The Chief Magistrate therefore fixed definite hearing of the case for Wednesday October 2, 2018.  In her ruling on the applications, Magistrate Nweoachenu stated …

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The Nigerian Stock Exchange (NSE) has announce that over 44 keynote speakers and thought leaders have confirmed to speak at the 22nd Annual African Securities Exchange Association (ASEA) Conference scheduled to hold on November 26 and 27, 2018 at the Oriental Hotel, Lagos, Nigeria. Among the growing list of influential speakers are Mrs Kemi Adeosun, Honourable Minister of Finance, Nigeria; …

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The Bank of Industry has signed a memorandum of understanding with the Export-Import Bank of China for the provision of a $500m facility towards the establishment of modular refineries in Nigeria. The establishment of modular refineries is part of the Federal Government’s plan to end importation of petroleum products and to discourage illegal bunkering activities in the Niger Delta region. …

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