archiveDecember 2, 2016

The Market capitalisation and the All-Share Index (NSE ASI) of the Nigerian Stock Exchange (NSE) which closed at N8.69 trillion and  25,265.08 basis points respectively on Thursday closed at N8.86 trillion and 25,740.83 basis points on Friday as investors closed the week with a gain of N17 billion. The market...

State Governments have submitted to the Federal Government (FG) claims of over-deductions for external debt service arising between 1995 and 2002 as a result of First Line Charge deductions from the Federation Account Allocation Committee (FAAC) allocations. According to Special Assistant, Media to Honourable Minister of Finance, Mr. Festus Akanbi...

Following impressive quarter-on-quarter growth in profitability, shares of Access bank Plc and United bank Plc (UBA) appreciated by N50.7 billion in 11 months on the equities market. These financial institutions have proven to overcome tough operating environment despite dwindling foreign exchange, rising inflation, among other headwinds facing the nation’s economy...

Nobel Laureate, Professor Wole Soyinka, has made true his promise to leave the United States if Donald Trump won the presidency, announcing Thursday that he has “disengaged” from the U.S. and thrown away his green card. Soyinka, who won the 1986 Nobel Prize for literature, was born in Nigeria but...

The Nigerian economy is bound to pick up as a result of Organisation of the Petroleum Exporting Countries (OPEC) member countries agreement on oil output cut after its meeting on Wednesday. OPEC reached a landmark deal that will effectively cut production by about 1.2 million barrels per day, or about...

The Kaduna State House of Assembly on Thursday passed the 2017 Appropriation Bill, three weeks earlier than it did last year. The lawmakers approved N214.921 billion for 2017 up from the N172 billion approved for 2016. This is made up of recurrent expenditure of N83.46 billion and capital spending of...

A group, Information for Democracy and Development (IDD) has condemned in strong terms what it called unwarranted barrage of media attacks on the Financial Reporting Council of Nigeria (FRC) and its current Executive Secretary/CEO, Mr Jim Obazee. Executive Secretary (Banking and Financial Sector Observatory) of the Abuja-based organisation, Mallam Yakubu...

A Federal Government audit report on 33 revenue yielding agencies  have so far yielded a recovery of N292.44 billion from  non-disclosure of actual revenues accruing to them. The Minister of Finance, Mrs Kemi Adeosun, made the disclosure on Thursday  at  a media briefing where she said the government was about...

MTN Group’s plan to sell shares in its Nigerian unit on the local stock exchange next year is at risk following allegations by lawmakers that Africa’s biggest wireless carrier illegally moved almost $14 billion out of the country, according to two people familiar with the matter. In the event of...