The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation, increased to 12.56 per cent year-on-year in June, 2020. The NBS made this known in its CPI and Inflation Report for June released on Friday. It stated that the report showed that June inflation was 0.16 per cent points higher than […]
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The Federation Accounts Allocation Committee (FAAC) has shared N651.18 billion Federation Account Revenue to the federal, states and local governments councils and relevant agencies for the month of June. Mr Henshaw Ogubike, Director Information, Press and Public Relations of FAAC announced the figures in a statement on Sunday in Abuja. Ogubike said the monthly meeting, […]
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Dr. Ngozi Okonjo-Iweala, who is Nigeria’s candidate for the position of Director General of the World Trade Organisation (WTO), has assured least developed countries (LDCs) and Small Vulnerable Economies (SVEs) that are members of the global trade body of her support if given the job. She said she would provide opportunities for them to participate […]
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The Central Bank of Nigeria (CBN) is seeking legislative powers through the Senate Committee on Banking, Insurance and other Financial Institutions to grant it exclusive rights to issue and revoke banking licenses. The apex bank Governor, Godwin Emefiele said that licensing of banks and revocation of the same when a bank goes distressed will bring […]
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As part of effort to further sanitise the banking industry, the Nigeria Deposit Insurance Corporation (NDIC) has proposed stiff penalties for negligent Directors of failed banks. This according to the agency will serve as deterrence and ensure the banking industry secures compliance with available laws and regulation. The Corporation also proposed criminalising insider loans by […]
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President Muhammadu Buhari has given directives for better coordination among security and investigating agencies with the National Assembly to ensure that the administration’s effort to bring sanity, transparency and accountability to the management of the large amount of resources dedicated to development of the Niger Delta sub-region is not derailed. In his reaction to the […]
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Fidelity Bank Plc has announced that two of its Board members, Mr. Ernest Ebi who has been serving as Chairman, Board of Directors and Mr. Seni Adetu, who has been serving as an Independent Non-Executive Director, having successfully completed their tenure in accordance with the Bank’s internal governance policy, will be stepping down from the […]
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The Central Bank of Nigeria (CBN) has directed all authorised dealers to discontinue the processing of Form M for the importation of maize with immediate effect. The CBN made this known in a circular signed by Dr Ozoemena Nnaji, the Director of Trade and Exchange Department of the apex bank in Abuja. Form M is […]
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The United Capital Plc has released its economic outlook report for the second half of the year. The bi-annual report analyses the status of the Nigerian economy and outlines future projections informed by domestic and global events. Based on extensive research, “Up in the Air”, as the report is titled, encapsulates the uncertainty triggered by […]
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Nigeria Women have been urged to play a more active and frontal role to stimulate the growth of businesses and overall development. The advice was given by the President and Chief Executive Officer, Global Fund for Women (GFW), Ms. Latanya Mapp Frett, who was the Special Guest Speaker at the fourth edition of the Women […]
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Major Nigeria’s financial institution, Union Bank of Nigeria Plc has said it will continue to expand its agency banking network to complement its operations and to also increase financial inclusion in Nigeria The bank also said it recently concluded a corporate social responsibility project to support individuals contributing towards reducing economic hardship and fallout of […]
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The Central Bank of Nigeria (CBN) and banks under the aegis of the Bankers’ Committee yesterday unveiled plans to spend about N25 billion as initial funding on the development of Nigeria Creative Centre at the National Theatre, Lagos and three other major cities in Nigeria. The other cities are Kano, Port Harcourt and Enugu. The […]
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