Sidebar

Exclusive Reports

20
Mon, May

No fewer than 350,000 micro enterprises across the 36 states of Nigeria have benefited from the Federal Government Enterprise and Empowerment Programme, GEEP MarketMoni scheme. The Executive Director, Bank of Industry, BoI, Mrs. Toyin Adeniji, told newsmen at the Kano edition of Micro Small and Medium-scale Enterprises

More than N650 billion has so far been remitted as operating surplus into the Consolidated Revenue Fund (CRF) in the last two years, according to Mr Victor Muruako, Acting Chairman, Fiscal Responsibility Commission (FRC).

Muruako made this known, while speaking with the News Agency of Nigeria (NAN), on Tuesday in Abuja.

He said it was part of the FRC’s mandate to ensure that scheduled corporations under the Fiscal Responsibility Act (FRA) 2007, remit 80 per cent of its operating surplus into the CRF.

Oil prices extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while U.S. production gains show no signs of slowing.

Brent crude futures LCOc1 stood at $75.35 a barrel at 0913 GMT, down $1.09 from the previous close and after touching a three-week low of $74.49 earlier in the session.

Reuter's news agency reports that U.S. West Texas Intermediate (WTI) crude futures were at $66.69, down $1.19, after hitting a six-week low of $65.80.

The Manufacturers Association of Nigeria (MAN) has appealed to the Federal Government to resolve its N29 billion electricity tariff dispute with the Electricity Distribution Companies (Discos) and the Nigerian Electricity Regulatory Commission (NERC).

The Director-General of MAN, Segun Ajayi-Kadir, made the appeal in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos.

Ajayi-Kadir made the call while assessing the three years performance of President Muhammadu Buhari’s administration, its impact on the manufacturing sector and setting agenda for the coming year.

He urged the Federal Government to assist in settling the dispute out of court by picking part of the N29 billion debt.

The Bureau de Change (BDCs) operators in Nigeria have been advised by the Central Bank of Nigeria (CBN) to access Foreign Exchange from it thrice a week.

CBN acting Director, Corporate Communications, Mr Isaac Okorafor who disclosed this in a statement on Sunday said the new directive would allow eligible travellers more access to foreign exchange and allow more liquidity to the market.

“All BDCs shall henceforth access forex from the CBN on Mondays, Wednesdays and Fridays.

Telecom giant MTN Ghana Limited launched its Initial Public Offer on Tuesday as it commits to trade 35% of the company’s value.

Till the end of July, MTN will be offering 4,637,394,533 billion shares at 75 pesewas each.

The company is hoping to raise about GH¢3.478 billion cedis from the exercise and to possibly list on the Ghana Stock Exchange on September 5, 2018.

The Nigerian National Petroleum Corporation, NNPC, Friday, said it has introduced measures to ensure the full and effective implementation of its 2018 budget.

The NNPC in a statement in Abuja, said this was the outcome of a top Management Steering Committee Meeting to review the first quarter performance report and close out on 2017 operations.

Speaking at the meeting, the Group Managing Director of the NNPC, Mr. Maikanti Baru, charged all the Chief Operating Officers (COOs) of the Autonomous Business Units (ABU) and Managing Directors of Strategic Business Units (SBUs), as well as Heads of Corporate Services Units (CSUs) to focus more on the implementation aspect of the budget.

Non-oil economic activity in the United Arab Emirates(UAE) grew by 3.1 percent from a year earlier in the first quarter, slowing slightly from 3.4 percent in the final quarter of 2017, the central bank estimated on Tuesday. Overall economic activity, which includes oil output, grew by 1.2 percent in the first quarter, accelerating from 0.1 percent in the previous quarter.

With Italy in political turmoil, oil prices on the rise and North Korea tensions back on the burner, the last thing the global economy needs is a big lurch towards a trade war further clouding the outlook.

But that is exactly what the Trump administration faces if it does not extend temporary exemptions on steel and aluminium imports from Europe that expire on Thursday, according to Reuter's news agency.

The Europeans have opportunities for last minute diplomacy when the Organisation for Economic Cooperation and Development holds its annual ministerial council in Paris on Wednesday.

Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has succeeded in developing and implementing fiscal policies to curtail wastages in governance, thereby reducing fiscal leakages and boosting Government’s non-oil revenue. Mr Oluyinka Akintunde, Special Adviser to Adeosun on Media and Communications, said this in Abuja in a statement on the achievements of the Minister since her assumption of office in November, 2015.

The National Industrial Court, Abuja, on Thursday affirmed the dismissal of one Hauwa’u Idirisu, from Union Bank, over her involvement in fraudulent pension fund transactions as lawful. Idirisu was dismissed for gross misconduct when it was discovered that her password was used to upload files that contained fraudulent deductions and diversions on a Military Pension Fund account.

More Articles ...