Following an injection of naira liquidity into the banking system, Nigeria’s overnight lending rate dropped sharply to an average of 3.9 percent on Friday from 10 percent a week ago. A total of 454 billion naira ($1.49 billion) in debt…
Category: Finance
Tanzania, Dangote Partner on natural gas supply
Tanzania and Nigeria’s Dangote Cement have reached an agreement on the supply of natural gas to the firm’s manufacturing plant in the East African country after negotiations stalled over prices, Tanzanian President John Magufuli said on Saturday. The $500 million…
CBN, NDIC plan AMCON’s replacement, Warn on Bitcoin transactions
The Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) have commissioned a study on the establishment of an institution that would take after the Asset Management Company of Nigeria (AMCON) at its expiration. The institution, which…
LET YOUR NETWORK WORK FOR YOU
LET YOUR NETWORK WORK FOR YOU It is no news that the recession is biting hard and with Christmas around the corner, expenses are about to go up the roof. As a result, making extra income will not be a…
ENJOY A RELAXING CHRISTMAS WITH THE EMBER LOAN PROMO
Every year, Award Winning Rosabon Financial Services, Nigeria’s foremost non-banking financial intermediary firm, organizes end of the year promotions for its customers to appreciate and reward them for their continuous patronage. This year we decided to give our customers a…
The Cobalt Tie Dinner Like No Other
Hold your horses! Take a break from your busy day and get an eyeful at what went down on the 27th of November, 2016. It was a spectacle indeed as “The Cobalt Tie Dinner” was hosted by The Concept Group…
FG plans lower tax rate for MSMEs
THE Minister of Finance, Kemi Adeosun, last week said that the federal government will propose reduction in the income tax rate applicable to the Micro, Small and Medium Enterprises, MSMEs, as an incentive to encourage compliance and promote the sector.…
Oil may rise to $55 if all producers cooperate – Iran
Oil prices have risen to their highest in nearly a month, as expectations grow among traders and investors that OPEC will agree to cut production, but market watchers reckon a deal may pack less punch than Saudi Arabia and its…
Budget 2016: FG spends N3.577tr in 9 months — Udoma
The Minister of Budget and National Planning, Senator Udoma Udo Udoma, yesterday, said that the Federal Government has spent N3.577 trillion as at September out of the N6.06 trillion budgeted for 2016 He disclosed this in Lagos at the KPMG…
No plans to amend Forex Act – CBN
The Central Bank of Nigeria (CBN) yesterday said it was not planning to amend the Foreign Exchange Act or recommend jail term for anyone that holds the dollar for more than 30 days. Acting Director, Corporate Communications Department, Mr. Isaac…