The three tiers of government, made up of the Federal, 36 States and the Federal Capital Territory and 774 Local Governments, on Wednesday shared N619.9 billion as statutory allocation from the Federation Allocation Account for February 2019. A communiqué by the Technical Sub -Committee of the Federation Accounts Allocation Committee (FAAC) at the end of […]
The Nigerian National Petroleum Corporation (NNPC) on Wednesday closed its portal for ongoing recruitment exercise and began short listing of applicants. Ndu Ugahmadu, the corporation’s spokesman, disclosed this in a statement in Abuja. The News Agency of Nigeria (NAN) reports that the portal was opened on March 13. The NNPC is an equal opportunity employers […]
A Federal High Court in ALagos will on June 6 resume trial in a suit filed by the federal government against Shell Western Supply & Trading Limited over alleged 406.7 million dollars deprivation in crude oil shipment. The suit numbered FHC/L/CS/336/16 was filed in Lagos by Prof. Fabian Ajogwu (SAN) on behalf of the federal […]
Nigeria plans to tap concessionary long-term loans to finance its 2019 budget in addition to borrowing at home, Finance Minister Zainab Ahmed said on Wednesday. “We intend to fund the 2019 budget through borrowing locally and internationally with a spread of 50:50. Our focus is on concessionary long-term loans,” said a National Assembly tweet quoting […]
Nigerian bond yields fell slightly on Wednesday, a day after the central bank unexpectedly announced an interest rate cut aimed at stimulating growth in Africa’s biggest economy, traders said. Nigeria’s central bank cut its benchmark interest rate by 50 basis points to 13.5 percent on Tuesday, its first reduction in four years. The rate has […]
Debutant, Paul Onuachu scored the second fastest goal in the history of international football when he blasted the ball past Egypt’s goalkeeper, Mahmoud Gennesh, less than seven seconds after the kick off of the international friendly at the Stephen Keshi Stadium, Asaba. Onuachu’s goal is only second to Lukas Podolski’s strike after six seconds for […]
Nigeria has low private capital to Gross Domestic Product (GDP) rate, which remains a major consideration that foreign investors consider in making their investments in countries, Country Managing Director at International Finance Corporation (IFC), Mrs. Eme Essien, has said. Speaking yesterday at the FirstBank 125 years anniversary in Lagos, she said the level of risk […]
Actionaid Nigeria has called on the Federal Government to forget the idea of increasing Value Added Tax, VAT, warning that it will slow down the economy, urging government to discontinue payment of subsidy on petroleum products instead. taxation symbol In a statement by its Country Communication Coordinator, Niniola Ayanda, yesterday, the group said: ”Rather than […]
The police in Nigeria have emerged as the most corrupt public institution in the country, according to a new survey released today by Socio-Economic Rights and Accountability Project (SERAP). The power sector was ranked second in the survey’s corruption index, which examined five public institutions in Nigeria in the last 5 years. Other public institutions […]
Lawyers representing Nigeria’s attorney general on Tuesday appeared in court to argue that telecoms company MTN Group did not have grounds to oppose a $2 billion tax bill, legal teams for both sides said. MTN faces the demand from the country’s attorney general, a claim which the company has said is without merit. Nigeria handed […]