The Federal Government, in a bid to check the high level of under-remittance of funds by revenue-collection agencies, has issued fresh guidelines for the computation of operating surpluses. The new guideline that will guide the preparation of the agencies’ financial…
Economic and financial experts have said that the country’s inflation rate may rise further to 20 per cent during the first quarter of this year from the current 18.4 per cent. They, however, said the inflation rate was expected to…
As economic recession continues to weigh on the banking sector, non-performing loans ratio in the banking industry has crashed further above the Central Bank of Nigeria’s five per cent threshold. The NPLs ratio fell to 13.4 per cent in September…
Investors in the nation’s stock market lost over N214 billion last week following massive selloff of shares of highly capitalized companies across the sub sectors on the Nigerian Stock Exchange, NSE. Consequently, the market capitalization of the NSE which represents…
Generally, life works clockwise, taking you round in circles as you begin the year in January and end it in December only to start the process again. The difference however, is that change is constant and your decisions at the…
Members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM Nigeria have been thrown into panic and great confusion, last Tuesday, following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for…
A West African bloc called on Nigeria and other countries to undergo “necessary structural reforms” to improve their economies, as a collapse in oil and commodity prices continues to cripple economic growth. Nigeria and other member countries should “take appropriate…
Investors on the Nigerian Stock Exchange, NSE, have gained N468 billion in three weeks, as the positive run in the stock market continued last week. This sharply contracts the N660 billion loss suffered by investors last month on the NSE.…
Nigeria’s overnight lending rate fell this week to around 3 percent on Friday from an average of 3.9 percent a week ago on expectations that budget cash will be injected into the banking system on Friday or Monday, traders said.…
THE management of Nigerian Ports Authority (NPA) has written off N119 billion bad debts. The debts are monies owned the agency by terminal operators and some of its partners in the last ten years. The Managing Director of the Authority,…
