archiveJanuary 23, 2019

The Nigerian equities market extended its positive run from the prior session, as the market All-Share Index (ASI) appreciated by 0.46 per cent to 30,878.56 points on Wednesday following investors’ interest across Tier-1 and Tier-2 banks. Hence, the Month-to-Date loss declined to 1.76 per cent. Across sector indices, the Industrial...

As govt agencies expose revenue growth strategies The Federal Government on Wednesday gave in indication that Value Added Tax (VAT) may have to be increased this year in order to boost non-oil revenue to finance development projects. The Minister of Finance, Mrs Zainab Ahmed, who spoke at the unveiling government’s...

The Vice-Presidential Candidate of the Peoples Democratic Party (PDP), Mr Peter Obi, on Wednesday said the party would revamp the economy of the country and set it on the path of growth if returned to power. Obi made the statement in Ikeja while addressing traders during his visit to the...

The Central Bank of Nigeria (CBN) on Wednesday issued banknotes fitness guidelines to commercial and microfinance banks to sustain public confidence in the nation’s currency. This is contained in a circular issued by the CBN Deputy Governor, Operations, Mrs Folashodun Shonubi and Director, Currency Operation, Mrs Priscilla Eleje in Lagos....

  The National Assembly on Wednesday approved the issuance of promissory note and bond worth N563.643 billion for the payment of promissory note and bonds to local contractors. Hon. Adeyinka Ajayi, chairman, House Committee on Aids, Loans and Debts management presented a Senate and House conference report through which the...

  The sacked Executive Secretary of the Tertiary Education Trust Fund (TeTFund), Abdullahi Baffa, said he was forced out of office owing to his refusal to provide monetary kickbacks to Minister of Education, Adamu Adamu. Baffa told BBC Hausa on Wednesday that the Minister had sent a contractor to him...

No fewer than eight out of ten Nigerian women wear wigs as part of their fashion items for their day-to-day activities, a survey by the News Agency of Nigeria reveals. The study, conducted on 1, 100 urban and suburban women from Abuja, Lagos and Port Harcourt, showed that 81.8 percent...

  The Nigeria Union of Teachers (NUT), has frowned at the N27, 000 minimum wage approved for Nigerian workers by the National Council of State. The union was also not comfortable with the Federal Government’s decision to pay its workers N30,000 as minimum wage. The National Council of State, at...

Former president, Olusegun Obasanjo has spoken again, lashed out at President Muhammadu Buhari, saying the incumbent has issues trusting people not relating to him. Obasanjo, in an interview with BBC Yoruba, expressed his disappointments at President Buhari, emphasizing that Buhari, who is seeking re-election, is not relevant to those he...

The House of Representatives would meet with the Finance, Budget and ministers as well as the Director General (DG) of the National Budget Office over what it called fundamental errors in figures in the 2019 Appropriation Bill. Chika Adamu (APC, Niger) noted that proposed allocations to the Ministry of Finance,...