ECONOMY · FINANCE · HEALTH

COVID-19: States to get $2.5m performance-based grants for tax relief_Femi Ehiabhi

The Nigerian Governors’ Forum (NGF) on Sunday said that each state government would receive USD2.5 million performance-based grants for implementing tax relief programmes for individual taxpayers and businesses to mitigate COVID-19 impact. The forum disclosed this in a statement issued by the Head, Media and Public Affairs of NGF Secretariat, Mr Abdulrazaque Bello-Barkindo, in Abuja… Continue reading COVID-19: States to get $2.5m performance-based grants for tax relief_Femi Ehiabhi

ECONOMY · FINANCE

Nigeria’s 2021 budget of N12.6trn to be financed by N4.3 trillion loan, others_Femi Ehiabhi

The federal government has proposed N12.6 trillion as aggregate budget for the 2021 fiscal year. The proposed budget will have a deficit of N5.16 trillion and will be partly financed by a total loan package of N4.28 trillion. The proposals were contained in the 2021- 2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper… Continue reading Nigeria’s 2021 budget of N12.6trn to be financed by N4.3 trillion loan, others_Femi Ehiabhi

ECONOMY · FINANCE

Nigeria’s Dangote Cement raises N250 billion in debt securities in H1_Femi Ehiabhi

Nigeria’s Dangote Group of Companies said its raised N250 billion from its recent debut N100 billion Dangote Cement Series 1 Bond in debt securities within six months in 2020. Under its N300 billion Bond programme, which was 150 per cent over-subscribed, to its earlier issued N150 billion commercial paper (CP) notes (series 13-16 under its… Continue reading Nigeria’s Dangote Cement raises N250 billion in debt securities in H1_Femi Ehiabhi

FINANCE

House Rent Agreement, CofO to Carry Stamp Duty_Ada Nkong

The Federal Inland Revenue Service (FIRS) has alerted Nigerians and others resident in the country to make sure that documents pertaining to rent or lease agreements for their homes or offices, Certificate of Occupancy (CofO) as well as a list of other common business-related transaction instruments are subject to authentication with the new FIRS Adhesive… Continue reading House Rent Agreement, CofO to Carry Stamp Duty_Ada Nkong

FINANCE

N792.1m Paid Into Eradication Support Account-PTF

The Secretary to the Government of the Federation, and Chairman of the Presidential Task Force (PTF) on COVID-19, Boss Mustapha, disclosed that 792.1 million naira has been paid into the Eradication Support Account to finance the fight against the spread of the pandemic in the country. Mustapha said this during the daily PTF briefing on… Continue reading N792.1m Paid Into Eradication Support Account-PTF

BANKING · ECONOMY · FINANCE

Access Bank makes a subtle u-turn on planned sack?_Femi Ehiabhi

Access Bank on Monday is hinging her planned suspension of operations in some of its branches across the country, to security concerns and regulatory directives by the Central Bank of Nigeria (CBN). The bank, however, said it would begin a phased reopening of such branches. The confirmation was contained in a regulatory filing at the Nigerian Stock… Continue reading Access Bank makes a subtle u-turn on planned sack?_Femi Ehiabhi

FINANCE

FG Receives $311, Abacha Assets _Ada Nkong

The Nigerian government has received $311,797,866.11 recovered assets of General Sani Abacha repatriated from the United States and the Bailiwick of Jersey. The Attorney-General of Federation and Minister of Justice, Abubakar Malami, confirmed this on Monday in a statement by the Special Assistant on Media and Public Relations at his office, Dr Umar Gwandu. According… Continue reading FG Receives $311, Abacha Assets _Ada Nkong

FINANCE

Minister of Finance Explains $3.4 bn IMF Loan_Ada Nkong

Minister of Finance, Budget and National Planning, Zainab Ahmed, has explained why Nigeria is borrowing $3.4bn from the International Monetary Fund. In an interview on Channels Television’s Politics Today Programme, the minister said the loan will help in curbing the spread of the COVID-19 pandemic and regulating the crash in crude oil prices. The minister… Continue reading Minister of Finance Explains $3.4 bn IMF Loan_Ada Nkong

FINANCE

Senate Approves President Buhari’s Loan Request_Ada Nkong

President Muhammadu Buhari's request for the Senate to approve his request to secure a fresh loan of N850 billion to fund some projects in the 2020 budget has been approved.. The request was contained in a letter read by the Senate President, Ahmad Lawan, on Tuesday on the floor of the upper chamber of the… Continue reading Senate Approves President Buhari’s Loan Request_Ada Nkong