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Tag Archives: business

FG To Borrow N1.24tn Via TBs In Q3– CBN


The Federal Government is planning to borrow N1.24tn in the third quarter via the issuance of Treasury bills by the Central Bank of Nigeria. A CBN debt calendar for the third quarter released on Friday showed that it would sell N1.24tn ($4.1bn) worth of treasury bills from June 15 to August 31. The apex bank aims to auction N226.64bn in 91-day bills, N311.32bn in 182-day ... Read More »

FG Releases Paris Club Refund Details To States

adeosun kemi

Facts have emerged as to how the Federal Government allocated the first tranche of N516.38bn reimbursement made to the 36 states of the federation and the Federal Capital Territory from the Paris Club debt refund. Based on the schedule of reimbursement, which was released by the Ministry of Finance on Friday in Abuja, five states got the highest amounts of refund from the Federal Government. ... Read More »

We’ve Attracted Over $86m Chinese Investments –NPA


The Nigerian Ports Authority has said with the initiatives it has taken in the past couple of months, it has attracted investments worth over $86m from the China Harbour Engineering Company at the Lekki Deep Sea Port. The NPA made the assertion while refuting an allegation by the Committee of Maritime Professionals that NPA’s current management under Ms. Hadiza Bala-Usman was hindering investment in the ... Read More »

Consumers Can Buy Electricity Directly From Gencos – Fashola

babatunde raji fashola

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has declared that eligible power consumers are now free to purchase electricity directly from power generation companies. By declaring eligible customers, the minister has empowered the consumer to buy electricity directly from licensees other than the power distribution companies, a development that the Discos recently opposed. The Nigerian Electricity Regulatory Commission on Friday stated that ... Read More »

Ogun Partners IPPs On Stable Power Supply


In its bid to ensure stable supply of power to enhance business activities, the Ogun State Government has appointed seven Independent Power Producers, (IPP), to take care of the industrial clusters in the State. The Senior Special Adviser to the Governor on Energy, Mr. Taiwo Fagbemi disclosed this at a Town Hall Meeting at Ado/Odo-Ota Local Government Council Area of the State. He explained that ... Read More »

We’’ll Continue To Ensure Transparency In Budgetary Process – Budget Comm.

Commissioner for Budget and Planning, Ms. Adenrele Adesina

Ogun State Government has restated commitment at ensuring that its budgeting process remains transparent to accommodate stakeholders’ views towards ensuring citizens’ participation. The Commissioner for Budget and Planning, Ms Adenrele Adesina, stated this while speaking as a discussant at the 9th Delegate Conference of the Chartered  Institute of Taxation of Nigeria (CITN) with the theme “Budget and Open  Government: The Quest for Transparency and Accountability’’, in Abeokuta. Adenrele ... Read More »

Fraudsters Target 63.7m Banks Accounts, E-Payment Channels


Fraudsters have continued to get unauthorised access to bank accounts and other electronic payments platforms . Statistics from the Nigeria Inter Bank Settlement Scheme (NIBSS) indicate there are 93 million bank accounts in the country with 63.7 million of them being active. As at September 2016, operators of current accounts in the country stood at 25.4 million, with savings account having 65.4 million holders while ... Read More »

Investments In Nigeria’s Oil Sector Decline To N78b


Stakeholders blame uncertainty, delay in PIB Capital importation into Nigeria’s oil and gas sector has declined from the $200 million (N90 billion) from the second quarter of 2016 to $172 million (N78 billion) in 3rd quarter, according to the National Bureau of Statistics (NBS). But this decline has been attributed to uncertainty in the country’s oil and gas sector occasioned by insecurity, delay in the ... Read More »

CBN To Move Against Banks Over Poor Services


Urges public to reject inefficiency • ‘Delay in funds transfer, system failure not acceptable’ The Central Bank of Nigeria (CBN) has warned the nation’s banks against poor services, asking them to shape up or close shop.The caution followed a series of complaints by customers of frustrations in completing their transactions at various branches or at Automotive Teller Machines (ATMs), most associated with system failures or ... Read More »

FG Releases N3.9tr To MDAs –Finance Minister

adeosun kemi

Finance Minister, Mrs. Kemi Adeosun, has said that at the end of September, N3.9 trillion out of the N6.1 trillion budgeted for the year has been released. Mr Mohammed Dikwa, Director, Special Projects in the ministry, who represented the minister, made the statement at a stakeholders’ forum on reducing the cost of governance in Abuja. In a paper entitled: ‘Public Sector Financial Management Reforms as a ... Read More »

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