FG To Borrow Unclaimed Dividends, Funds In Dormant Accounts
The Federal Government plans to borrow unclaimed dividends and funds in dormant account balances of Deposit Money Banks.
It disclosed this under Part XII of the Companies and Allied Matters Act in the signed Finance Act 2020.
Under...
Some MDAs, Banks Colluding To Divert Funds, Alleges Lawan
President of the Senate, Ahmad Lawan, has accused some banks of conniving with certain categories workers in government agencies to divert public funds to private pockets.
He has therefore tasked the anti-corruption agencies to focus more on...
Agric Intervention: CBN Warns Banks Against Funds Diversion
The Central Bank of Nigeria has warned banks participating in the Private-Sector-led Accelerated Agriculture Development Scheme against diverting the intervention funds meant for agro-processors and others.
The CBN gave the warning in its guidelines for the scheme which...
Nigeria’s Collective Investment Funds Rise To N1.32trn
Total net asset of collective investment schemes and funds in Nigeria has risen to N1.322 trillion, according to latest records provided by Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC).
Latest reports on collective investment schemes (CIS)...
Banks To Support Govt With Road Projects Fund
The Bankers Committee has said that the industry will fund road projects and provide support for the Federal Government in bridging the infrastructural gap in the country.
This was disclosed during a press briefing after the Bankers’ Committee...
FG Approves Funds For Algiers-Lagos Highway
President Muhammadu Buhari on Monday said the Federal Government has made special funding commitment to the reconstruction of Trans-Saharan African highway linking Lagos with Algiers, the Algerian capital.
Buhari, who disclosed this at the 70th Session of the Trans-Saharan Road...
