The 36 states of the federation shared N111.8 billion in October. It is less than the N143.6 billion shared in September from the Federation Account by N31.8 billion. The breakdown forms part of a report yesterday by the News Agency of Nigeria (NAN) from Office of...

As Nigeria’s economic recession bites harder and unemployment rate soaring, Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has advised the Federal Government to cut its losses by fully implementing the 2003 Cabotage Act to turn in about N2trillion annually. Emefiele, who...

The Federal Government has so far disbursed a total of N220.5 billion budget support facility to 35 states. Bauchi State Governor Mohammed Abubakar said Finance Minister Kemi Adeosun dropped the hint at the Council Chambers of the Presidential Villa in Abuja yesterday during the National...

There is growing concern about the financial health of Deposit Money Banks (DMBs) in the country, as a good number of them have continued to sack workers contrary to assurances of the Bankers’ Committee. New Telegraph’s investigation revealed that bank workers are still being regularly...

The Central Bank of Nigeria (CBN) said Heritage Bank Plc is not currently in distress as being falsely insinuated by some online media. The central bank noted that there had been “false and malicious stories on the social media insinuating that Heritage Bank is under...

The foreign investment in Nigerian equities in the third quarter of 2016 fell to nine – year low as investors seek safety in less risky and high yielding fixed income securities. The capital importation data supplied by the Central Bank of Nigeria (CBN) and recently...