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Sunday, September 15, 2019

Nigeria’s Problem Is Revenue, Not Debt, Says Zainab Ahmed

Nigeria’s Problem Is Revenue, Not Debt, Says Zainab Ahmed   Minister of Finance, Zainab Ahmed, has said that Nigeria does not have a debt problem, despite...

FIRS Places VAT On Online Transactions From January 2020

FIRS Places VAT On Online Transactions From January 2020   Chairman of the Federal Inland Revenue Service, Babatunde Fowler, on Monday said that Nigerian banks would...

VAT Generates N312bn In 3 Months

VAT Generates N312bn In 3 Months   The Federal Government generated N311.94bn between April and June; statistics provided by the National Bureau of Statistics have shown. In...
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Discos Expected To Repay N34bn CBN Loan This Year

Discos Expected To Repay N34bn CBN Loan This Year   Electricity distribution companies are expected to repay this year N34.05bn of the loan disbursed under the...

FG Requests $5bn Chinese Loan For Mambilla Power Project

FG Requests $5bn Chinese Loan For Mambilla Power Project   Nigeria has formally requested for loan from China Exim Bank to build the 3,050 megawatts (MW)...

9mobile Obtains $230m Loan To Reposition Operations

9mobile Obtains $230m Loan To Reposition Operations   The management of Emerging Markets Telecommunication Services Limited, trading as 9mobile, has secured $230m loan facility from Africa...
Godwin Emefiele CBN Governor

CBN Sets New Limits For Banks On Non-performing Loans

CBN Sets New Limits For Banks On Non-performing Loans   The Central Bank of Nigeria has set new limits for banks and other financial institutions on...

Banks’ Software Investment Grows By 55% To N120bn

Banks’ Software Investment Grows By 55% To N120bn   Although investments in software by Nigerian banks have grown over the years, Nigerian software developers have made...
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Banks Jostle To Unlock N1.5tn For Real Sector Lending

Banks Jostle To Unlock N1.5tn For Real Sector Lending   Commercial banks are positioning themselves to attract more customers in the small business segment of the...

NNPC Under-remitted N78bn To Federation Account, NEITI Says

NNPC Under-remitted N78bn To Federation Account, NEITI Says   The Nigeria Extractive Industries Transparency Initiative on Thursday announced that the Nigerian National Petroleum Corporation under-remitted N77.92bn...

About 3,891 Debtors Owe Banks Above N1bn Each

About 3,891 Debtors Owe Banks Above N1bn Each   About 3,891 firms and other debtors have taken individual loans above N1bn, totalling N13.19tn of loans in...

Governors Reject FG’s Plan To Ask For Refund Of N614bn Bailout

Governors Reject FG's Plan To Ask For Refund Of N614bn Bailout   The Federal Government has demanded the repayment of N614bn it offered to 35 states...

Banks Disregard CBN’s Directive On Torn N50 Notes, Others

Banks Disregard CBN's Directive On Torn N50 Notes, Others   Indications emerged on Thursday that Nigerian commercial banks were not complying with a Central Bank of...

SEC Okays NSE Rulebook On Derivatives Market

SEC Okays NSE Rulebook On Derivatives Market   The Securities and Exchange Commission has approved the Nigerian Stock Exchange’s rulebook on derivatives market. The NSE said the...

Bonds: FG Rakes In N620bn In 6 Months

Bonds: FG Rakes In N620bn In 6 Months   The Federal Government recorded a total of N619.63bn from debt securities issued in the first half of...

IRS Targets N80bn Revenue In FCT

IRS Targets N80bn Revenue In FCT   The Federal Capital Territory’s (FCT) Inland Revenue Service (IRS) is working hard to rake in not less than N80bn...

LNG Sponsored-projects In Nigeria, Others To Attract $103bn

LNG Sponsored-projects In Nigeria, Others To Attract $103bn   Liquefied Natural Gas projects in Nigeria, Egypt, Mozambique and elsewhere on the African continent are expected to...

Investors Undersubscribe FG’s August Bonds

Investors Undersubscribe FG's August Bonds   The Federal Government’s N145bn August bonds, which was offered on Wednesday were undersubcribed by N49.91bn The Debt Management Office showed the...

Nigerian Payment Firms To Generate $1.19bn From Remittances

Nigerian Payment Firms To Generate $1.19bn From Remittances   Nigerian banks, fintech companies and mobile money operators are likely to earn $1.19bn from remittances this year,...

Buhari Approves N600bn Intervention Fund For Power Sector

Buhari Approves N600bn Intervention Fund For Power Sector   The power sector is going to get another intervention of N600bn from the Federal Government very soon. President...