Loans: Govts, Oil Firms, Manufacturers Borrow N8.24trn From Banks
The oil and gas sector, governments and manufacturers account for the large chunk of loans from Nigerian banks as of the end of March this year.
The total loans given to the oil and gas, manufacturing sectors...
In 6 Months, Apapa Customs Records $46.6m Export, N203.3bn Revenue
The Apapa Area Command of the Nigeria Customs Service (NCS), Thursday announced that it generated a total revenue of N203.26 billion between January 1, 2019 and June 30, 2019, which represents 54.5 per cent of...
TSA: FG Generates N10trn From 1,674 MDAs
Since the start of the implementation of the Treasury Single Account in 2012, the Federal Government has collected over N10trn from 1,674 Ministries, Departments and Agencies.
The TSA initiative, which is one of the public financial management reforms, had...
Customs To Pay N5.5bn For Illegal Seizure Of Rice
The Federal High Court in Abuja on Wednesday ordered the Nigeria Customs Service and its board chairman to pay about N5.5bn to Maggpiy Trading TFZE for unlawfully seizing 90 containers of rice imported by the company.
Delivering...
CBN Bars Payment Of Interest On Bank Deposits Above N2bn
The Central Bank of Nigeria has said the remunerable daily placements by banks at the Standing Deposit Facility will not exceed N2bn.
It stated this in a circular, titled ‘Guidelines on accessing the CBN Standing Deposit...
Nigeria Loses $12bn Annually To Oil Theft, Stakeholders Seek FG Action
Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the implications for the country’s...
