Business and Economy

Expert wants appropriate monetary policy tools to check rising inflation rate By Ginika Okoye Mr Emmanuel Atama, the Executive Secretary of the National Cooperative Financing Agency of Nigeria (CFAN), has appealed to the Central Bank of Nigeria (CBN) to use appropriate monetary policy tools to check rising inflation rate in …

Sokoto Governor Aminu Tambuwal By Habibu Harisu Mr Ibrahim Mijinyawa, the Director Payee, Sokoto State Internal Revenue Service, said about N41 billion has been collected as Internally Generated Revenue (IGR) from 2017 to 2019 in the state. Mijinyawa disclosed this at the Stakeholders’ Periodic Reflection and Action Meeting on Tax …

Lagos Governor Babajide Sanwo-Olu By Michael Ajayi/ Vivian Ihechu Officials of some ministries in Lagos State have described the GOAL Project of Youths Empowerment Foundation (YEF), as a strategy to help adolescent girls acquire relevant life skills and be self-reliant. They spoke to the News Agency of Nigeria (NAN) on …

Nigeria Stock Exchange By Chinyere joel-Nwokeoma The market capitalisation of the Nigerian Stock Exchange (NSE) on Wednesday depreciated further by N9 billion, amid profit taking. Specifically, the market capitalisation, which opened at N14.347 trillion lost N9 billion to close at N14.338 trillion. Also, the All-Share Index dipped 24.48 points or …

Experts explain inflation hike, anticipate further tightening by CBN By Chinyere Joel-Nwokeoma Financial experts on Wednesday attributed continuous inflation spike in January to minimum wage payment, border closure and Value Added Tax (VAT) increment announcement just as they tasked government on friendly policies to boost production. They stated this in …

FAAC: FG, States, LGAs share money for January By Solomon Asowata The Federal, States and Local Governments on Wednesday shared a total of N647.35 billion for the month of January as the Federation Account Allocation Committee (FAAC) meeting ended in Lagos. The News Agency of Nigeria (NAN) reports that the …

SEC Towers By Solomon Asowata The Securities and Exchange Commission Nigeria (SEC) on Tuesday advised state governments to establish companies for specific target projects in order to boost their Internally Generated Revenue (IGR). Ms Mary Uduk, Acting Director-General, SEC, gave the advice while speaking at the ongoing Federation Account Allocation Committee …

China cuts interest rate of MLF China’s Central Bank cut the interest rate of medium-term lending facility (MLF) to 3.15 per cent on Monday, 10 basis points lower than the previous MLF. The People’s Bank of China injected 200 billion yuan (about 28.66 billion U.S. dollars) into the market via …

Mr Chibunna Ubawuike By Cecilia Ijuo The Treasurer, National Fish Association of Nigeria (NFAN), Mr Chibunna Ubawuike, says plans by the Federal Government to ban fish importation will save the country over $1billion US dollars. Ubawuike, who made the disclosure in an interview with the News Agency of Nigeria(NAN) in …

stakeholders urge FG to seek domestic capital for infrastructure funding By Chinyere Joel-Nwokeoma Stakeholders in the capital market have stressed the need to attract private and domestic capital for funding of critical infrastructure in the country. The stakeholders stated this at the Securities and Exchange Commission (SEC) 2020 budget seminar …