BUSINESS
FIRS Generated N10.04trn In 2022, Says Official
The Tax Controller, Enugu Medium and Small Tax Office of the Federal Inland Revenue Services (FIRS), Mrs Stella Obiora, says the organisation generated N10.04 trillion in 2022. Obiora, represented by the Executive Chairman of the agency, Mr Muhammed Nami, stated this in Enugu on Friday during their special day at the ongoing 34th Enugu InternatiTrade Fair. She said the management of...
Banks borrow N19.6tn from CBN amid rising liquidity problems
Commercial banks borrowed a total of N19.64tn from the Central Bank of Nigeria in 2019, an increase of 73 per cent from the N11.36tn borrowed in 2018. This has raised concerns among analysts following the rising liquidity problems in the financial services sector. This happened barely one month after the World Bank warned the CBN against supporting undercapitalised banks indefinitely. According to...
Emefiele Responsible For Economic Rot, Nigerians Should Be Patient — Akpabio
The Senate President, Godswill Akpabio, says the current administration led by President Bola Tinubu met the Nigerian economy in a mess which he claimed was caused by policies carried out by former governor of the Central Bank, Godwin Emefiele. The Senate President spoke during a thanksgiving service by Senator Barinada Mpigi in Koroma, Tai Local Government Area of Rivers State...
EEDC, AEDC, others Now Selling FG’s Free Meter, Customers Allege
Power consumers have raised the alarm that power distribution companies, including Enugu Electricity Distribution Company, EEDC and Abuja Electricity Distribution Company, AEDC were now selling the free meters that were provided for electricity users by the Federal Government. In October 2020, the Federal Government inaugurated the National Mass Metering Programme in respect of which the Central Bank of Nigeria issued...
We Had To Borrow To Fund Roads, Rail, Power – Buhari
The President, Muhammadu Buhari, on Tuesday, justified the nation’s debt profile, saying his regime needed to borrow to fund critical infrastructure like roads, rail, and power. According to a statement titled “President Buhari justifies borrowing to fund infrastructure,” by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President spoke at a virtual meeting he had with members...
VP Shettima Calls For Equity In Distribution Of Fertilizers To Nigerian Farmers
Vice President Kashim Shettima has called on stakeholders to ensure transparency, equity and fairness in the distribution of fertilizers to farmers. He made the call on Tuesday when he met with Fertilizers Producers and Suppliers Association of Nigeria (FEPSAN) at the Presidential Villa, Abuja. Shettima said President Bola Tinubu is passionate about reducing the cost of fertilizers for Nigerian farmers as...
Naira Gains Marginally Against Dollar, Exchanges At 441.25
The Naira on Monday exchanged N441.25 against the dollar at the Investors and Exporters window, making a slight appreciation. The figure represented a slight increase of 0.03 percent when compared to the N441.38 it exchanged for the dollar before the close of business on 14 October. NAN also reports that the open indicative rate closed at N439.63 to the dollar on...
VP Shettima Jets Out To US For Business Summit
Vice President Kashim Shettima has departed Abuja for Dallas, United States of America, to represent President Bola Tinubu at the 2024 US-Africa Business Summit hosted by the Corporate Council on Africa. A statement by his Senior Special Assistant on Media and Communications, Stanley Nkwocha says the Vice President will join other political and business leaders across Africa, the United States...
VIDEO: We’re Financially Enlightened Govt, Not Jumping At Any Loan — Gov. Otti
Abia State Governor, Dr. Alex Otti has described his administration as financially enlightened, noting that it is not interested in jumping at any loan that comes its way. The governor in an interaction with journalists in Umuahia said the state has been receiving offers for loan from commercial banks within but has not drawn on any of them. https://youtu.be/aUsiS8NN7mI He further revealed...
$115 Million Infrastructure Loan Approved For Abia Was Facilitated By Ikpeazu — Spokesman
Onyebuchi Ememanka, Spokesman to the immediate past governor of Abia State, Okezie Ikpeazu has said the $115 million infrastructure loan approved by the Federal Executive Council (FEC) on Monday was facilitated by his principal. He said, of the total sum of One Hundred and Fifteen Million Dollars ( $115 Million), one Hundred Million Dollars is from the Africa Development Bank...
