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 statements for the next three years covering up to 2019 is contained in a circular …
Unremitted N450bn: FG issues new guideline for calculating surplus Read More »
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 reduce significantly as the fiscal and monetary authorities would begin to implement certain policies to …
Inflation rate may hit 20% in first quarter —Experts Read More »
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 economic and financial stimulus measures in order to be less vulnerable to commodity price fluctuations …
ECOWAS urges Nigeria, others to reform economies Read More »
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. Nigeria, an OPEC member and Africa’s biggest economy, relies on crude oil sales for two-thirds …
Nigeria interbank lending rate eases on budget cash injections Read More »
Christmas is fast approaching and a lot of festivities will be going on. While some people are focusing on their weight, especially after two holidays of eating good food, others are focusing on their finances and setting financial goals for the New Year 2017. There is no better time to start planning your finances than …
The Chief Executive Officer of MTN Nigeria, Ferdinand Moolman last week appealed to the senate to consider the Data price floor as set by the Nigerian Communications Commission, NCC, saying that data price is among the lowest in the continent. Moolman who made presentations in Abuja, at the Senate hearing on Data price floor, also …
Approve NCC’s Data price floor- MTN urges senate Read More »
Nigeria plans to sell 95 billion naira ($302 million) worth of bonds on Dec. 14, its last debt auction for the year, the Debt Management Office (DMO) said on Tuesday. The office said it would sell 35 billion naira of a bond maturing in 2036, 25 billion naira of paper maturing in 2026 and 35 …
Port operations in the country have been hit by hike in import duties of vehicles and rice as well as the introduction of a fish quota system by the administration of former President Goodluck Jonathan. Seaport operators disclosed this in a statement on Sunday in Lagos and decried the effects of prolonged low activities at …
Port operators decry high Customs duty, CBN forex regime Read More »
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 refund to state governments and matured treasury bills entered the system this week, raising liquidity …
Nigeria’s overnight lending rate falls sharply on naira injection Read More »
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 cement factory in the southeastern Tanzanian town of Mtwara, set up last year with an …
