archiveJuly 2016

Despite the political impasse in Abia State and near breakdown of law and order due to political distractions over the controversial judgment of Justice Okon Abang of the Federal High Court in Abuja, the Abia State House of Assembly has passed a vote of confidence on governor Okezie Ikpeazu, saying...

An ex-while president of Chartered Institute of Taxation of Nigeria (CITN)  Mrs Adebimpe Balogun has disagreed  with  the move by the Federal Government to increase Value Added Tax (VAT) from five per cent to ten. Speaking at the eighth Wole Soyinka’s Centre Media Lecture Series, with the theme: “Tax Education,...

Federal ministries, departments and agencies (MDAs) are indebted to the Federal Government to the tune of N178.56 billion. The Debt Management Office (DMO) disclosed this in a report entitled: ‘Federal Government On-lent Loans to MDAs’, stressing that 11 MDAs benefitted from the money lent to them for infrastructure development projects....

The Director-General of Securities and Exchange Commission (SEC), Mounir Gwazo, has revealed that the nation’s unclaimed dividends now in the excess of N80 billion. The DG who was speaking during a meeting with management of Nigerian Television Authority (NTA), in Abuja, regretted that the unclaimed dividends were from small stakeholders...

The repairs on the fourth turbine of the Shiroro Hydro Dam in Niger State has been completed and there is hope of  improved power supply in the country as a result of the development. The turbine which collapsed since 2010 had defiled all efforts to bring it back on stream...

Equities transactions on the Nigerian Stock Exchange (NSE) today reverted to negative territory as investors recorded a loss of N44 billion as the Market Capitalisation of the Exchange closed at N9.867 trillion from N9.911 trillion on Tuesday even as the All-Share Index closed at 28,730.42 from the previous day’s of...

Nigerian Breweries Plc has declared 11 per cent decline in profit after tax to N19 billion for the six months ended June 30, 2016 from N21.5 billion posted in the prior six months. The unaudited condensed interim financial statements posted on The   Nigerian Stock Exchange official website, shows that the...

    The Managing Director of Heritage Bank, Ifie Sekibo has denied the report of a takeover of the bank by the Central Bank of Nigeria (CBN) and threatened to take action against those bearing what it described as unfounded rumors about the bank. There have are been several news...

Table has turned on the Nigerian Stock Exchange (NSE) as retail investors and domestic institutional   investors have dominated the equities market on the Exchange for the month of May, 2016. This segment of investors accounted for 60.95 per cent of trading activities valued at N63.34 billion out of sum of...

A delegation from the headquarters of the African Development Bank (AfDB) in Abidjan, led by Mr. Mwila Aeron Katambula, the Bank's Transport Specialist, is currently in Abia State for the final lap of talks between Abia State Government and AfDB on some developmental projects of interest to the bank in...