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

ECONOMY · FINANCE

Extractive Sector: FIRS to rake in N4trn in Tax Revenue_Femi Ehiabhi

The Federal Inland Revenue Service (FIRS) said it would rake in four trillion naira as tax revenue from the extractive sector of the Nigerian economy in the 2020 fiscal year. The FIRS made this known in a statement issued by Abdullahi Ahmad, Director, Communications and Liaison Department in the service in Abuja on Tuesday. The… Continue reading Extractive Sector: FIRS to rake in N4trn in Tax Revenue_Femi Ehiabhi

BANKING · ECONOMY · FINANCE

UBA hits N89.1Bn in Profit After Tax_Femi Ehiabhi

United Bank for Africa Plc (UBA) has posted a profit after tax of N89.1 billion for the financial year ended Dec. 31, 2019. The profit after tax represented a growth of 13.3 percent to N89.1 billion compared with N78.6 billion recorded in the correpsonding period of 2018. Its profit before tax stood at N111.3 billion… Continue reading UBA hits N89.1Bn in Profit After Tax_Femi Ehiabhi

BANKING · ECONOMY · FINANCE

Cashless Policy Implementation: No going Back-CBN_Femi Ehiabhi

The Central Bank of Nigeria (CBN) has said there is no going back on the full implementation of the federal government’s cashless policy which is expected to commence from April 1 across the country. The first phase of the cashless policy implementation started in Nigeria’s commercial hub, Lagos, on January 1, 2012. It expanded to… Continue reading Cashless Policy Implementation: No going Back-CBN_Femi Ehiabhi