archiveAugust 9, 2017

Acting President, Prof. Yemi Osinbajo has said that the N7 trillion federal budget for 2017 is not sufficient to facilitate the desired economic development in the country, hence the government was making the investment climate profitable and easy for private sector involvement. According to him, Nigeria was opening up for...

Fitch Ratings has revised its 2017 and 2018 world GDP growth forecasts by increasing it to 3.0 per from 2.9 per cent in June and 3.2 per cent from 3.1 per cent, respectively. According to world leading rating agency, “The revisions are led by emerging markets and China in particular,...

The Nigerian Stock Exchange All-Share Index (NSE ASI) and the Market Capitalization increased by 0.38 per cent, while the year-to-date return stood at 41.93 per cent. The All Share Index closed at 38,144.02 against the previous close of 37,999.56 while Market Capitalization closed at ₦13.147 trillion against previous close of...

Promasidor Nigeria Limited has appointed Mr. Anders Einarsson as Managing Director. Einarsson, succeeds Mr. Olivier Thiry, who is now elevated to the Group as Chief Executive Officer. Until his elevation, Einarsson served the organisation diligently as Chief Operating Officer. He joined PNG in 2013 as Strategy Director and was later...

Nigeria plans to sell 62.43 billion naira ($171 mln) of treasury bills at an auction next Wednesday, the central bank said on Wednesday. The bank plans to offer 32.43 billion naira in three-month paper and 30 billion naira of a six-month bill. Results of the auction will be announced on...

Nigeria plans to refinance $3 billion worth of treasury bills denominated in the local currency with dollar borrowing to lower costs and improve its debt position, the finance minister said on Wednesday, as Africa's top economy recovers from a recession. Minister of Finance, Mrs Kemi Adeosun announced the shift after...

A Federal High Court on Wednesday in Lagos struck out a suit filed by the Federal Government seeking to recover 793.2 million dollars allegedly kept by seven commercial banks in violation of the Treasury Single Account (TSA) policy. Diamond Bank, United Bank for Africa (UBA), First Bank, Skye Bank, Fidelity...

The Federal Executive Council on Wednesday adopted the 2017-2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategic Plan (FSP). The Minister of Budget and Economic Planning, Senator Udo Udoma said the Federal Government hopes to achieve seven percent growth in 2020 in accordance with the administration’s Economic Recovery and Growth...

A Federal High Court sitting in Lagos on Wednesday ordered the interim forfeiture of the sum of N7,646,700,000 said to have been kept in Sterling Bank Plc by former Petroleum Resources Minister, Diezani Alison-Madueke. The Economic and Financial Crimes Commission (EFCC) told Justice Chuka Obiozor-led court via an ex parte...

The National Bureau of Statistics (NBS) has explained that challenges beyond its control were the reasons for the postponement of the release of eight crucial reports. The Bureau disclosed this on its official Twitter handle. According to the NBS, the affected reports are July 2017 AGO/Diesel Price Watch, HHK/Kerosene Price...