South-East, South-South To Hold Economic Summit

  South-East and South-South professionals are having an economic summit to aid in establishing economic union for the zones; and also lead Nigeria’s economic emancipation drive. Already, arrangements have begun; and plans concluded to hold a conference in collaboration with the governors of all the concerned states in the region on April 18, at Owerri, capital […]

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Minister Says, Recession Will End In 2017

Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday assured that the current economic recession in the country will end in 2017. He said this during a chat with State House correspondents at the end of the Federal Executive Council (FEC) meeting in Abuja. He said: “Yes we are determined to get the […]

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Buhari Endorses Private Investors In Refineries

The Nigerian National Petroleum Corporation (NNPC) has revealed that President Buhari has approved the implementation of a new commercial model that will allow private investors to invest in restoring the operational efficiency of the country’s refineries. According to the NNPC, the presidential approval was given to enable the national oil firm revamp the struggling refineries located in […]

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Improvement As Naira Sells At N450 To 1$

    The Nigerian currency gained N10 to exchange at N450 to a dollar at the parallel market, while the Pound Sterling and the Euro exchanged at N560 and N470, respectively. At the Bureau De Change (BDC) window, the Naira was sold at N399 to a dollar, CBN controlled rate, while the Pound Sterling and […]

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FG, States, LGs Receive N465bn For January

A total of N465.149 billion has been distributed as Federal Allocation for the month of January, 2017 between the Federal Government, State Governments and Local Government Councils. The communiqué issued by the Technical sub -Committee of Federation Accounts Allocation Committee (FAAC) at the end of the meeting Tuesday indicated that the gross statutory revenue received […]

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Seized Ekiti Budget Support Fund Released By FG

The N1.1 billion Budget Support Fund of Ekiti State seized by the Federal Ministry of Finance, about two weeks ago, has been released. This development was disclosed yesterday in Ado-Ekiti by Governor Ayodele Fayose’s Chief Press Secretary, Mr Idowu Adelusi, who quoted the governor as saying that the state officials had communicated with the Federal […]

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CBN To Suspend Five Banks For Defaulting Forex Rules

The Central Bank of Nigeria (CBN) has tightened its operational guidelines on foreign exchange (forex) trading among banks and other authorised dealers. Defaulting banks risk eight weeks suspension, according to the new rules which go into effect immediately. The apex bank has been battling to stabilise the naira’s value. The rules released yesterday by the […]

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FG Increases VAT On Champagne, Luxury Items

The reviewed National Tax Policy has been approved by the Federal Executive Council on Wednesday. The Minister of Finance, Mrs. Kemi Adeosun, revealed this to pressmen at the end of a meeting of the council presided over by Acting President Yemi Osinbajo. The reviewed National Tax Policy depicts that the Value Added Tax on luxury […]

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