The Niger House of Assembly has pledged to enact laws that would ensure an environment conducive to woo investors to the state. The Speaker of the Assembly, Alhaji Ahmed Marafa, made the pledge in Minna during the 2017 Niger State Investment Summit which had as its theme: “Impact Investing for Advancing Agricultural Economy and Innovation.” Marafa […]

Major blue chip has  depreciated further on the Nigerian Stock Exchange (NSE) , forcing the market indicators to close negatively with loss of 2.25 per cent. The market capitalization shed N294 billion in a day to close at N12.786 trillion compared with N13.080 trillion recorded on Monday due to sell pressure. Also, the All-Share Index […]

The Central Bank of Nigeria (CBN) has intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of this forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum […]

The Joint Tax Board and the Federal Inland Revenue Service have started sharing data of high net worth individuals to profile income earners and taxpayers in order to get them pay appropriate taxes. Twelve states have signed the Memorandum of Understanding under the Voluntary Assets and Income Declaration Scheme. The JTB also announced that it […]

In 10 years, Nigeria accumulated a total of $201.2bn in Excess Crude Account, which it squandered within the same period. The Nigeria Extractive Industries Transparency Initiative stated this in its Occasional Paper (Issue 2) made available to our correspondent in Abuja on Monday. The publication, which focused on ‘The case for a robust oil savings […]

Zenith Bank Plc says it has made a provision of 30 per cent on its loan to 9mobile, the country’s fourth largest telecoms company formerly known as Etisalat Nigeria. “We have taken about 30 per cent … as a provision which we believe is very prudent as the company is undergoing restructuring to prepare for […]

The New Nigeria Development Company (NNDC) says it will invest 15 million dollars through a partnership with a Turkish firm to reactivate the collapsed Kaduna Textile company. The Group Managing Director, Dr. Ahmed  Musa, said this to newsmen shortly after a closed-door meeting with the Turkish business delegation at the NNDC’s head office in Kaduna. […]

The Transmission Company of Nigeria (TCN)  says  it has secured 1.55 billion dollars from multilateral corporations  to finance its transmission expansion projects  in the country. The Managing Director of TCN, Mr Usman  Mohammed, said this in Kano , while addressing newsmen . He said that TCN had approached multilateral donors to raise  significant finance  to […]

The Lagos Chamber of Commerce and Industry (LCCI) has urged the National Assembly to be cautious in its oversight and investigative role, to avoid economic disruption and loss of investors’ confidence. Mr Muda Yusuf, Director-General of LCCI, made the appeal in a statement  in Lagos. He said that allegations and petitions received by the national […]

Lagos State Government has announced the closure of the N85.14 billion Series 2 Bond Issuance, targeted at physical and social infrastructure development. The Commissioner for Finance, Mr Akinyemi Ashade, said in a statement in Lagos that the bond was issued in two tranches. Ashade said tranche 1 would be N46.37 billion at 16.75 per cent, […]