Asset Management Corporation of Nigeria has been ordered to take over some properties belonging to Jide Omokore, an ally of Diezani Alison-Madueke, a former Minister of Petroleum Resources, over an unpaid N29bn debt. This order was handed down by a Federal High Court judge sitting in Ikoyi following the refusal by Omokore and his company… Continue reading N29BN DEBT: AMCOM TO TAKE OVER OMOKORE’S PROPERTIES_Ehiabhi Femi
Category: FINANCE
NO TIN, NO BANK ACCOUNT_Ehiabhi Femi
Nigerians are in for a shock as the Finance Bill currently passed by National Assembly has amended sections 33, 49 & 58 of the Personal Income Tax Act. Thus, individuals are required to produce their Tax Identification Numbers (TIN) before they can operate existing or new bank accounts in Nigeria. What this means is that,… Continue reading NO TIN, NO BANK ACCOUNT_Ehiabhi Femi
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CROSS RIVER BUDGET TAG DEFIES GOOGLE’S SKILLS_Ada Nkong
Following the pronouncement of Cross River State Governor, Prof. Ben Ayade that the states budget is tagged Budget of 'Olympotic Meristemasis', some people took to Google to unravel the mystery behind the name.Surprisingly, the app which is considered the greatest store of Knowledge at the moment says it has no results for the search.As at… Continue reading CROSS RIVER BUDGET TAG DEFIES GOOGLE’S SKILLS_Ada Nkong
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EXTERNAL RESERVES PLUNGES TO $40.3 BILLION_Femi Ehiabhi
Pressured by the impact of volatility in the price of crude oil, slow down in dollar inflows from foreign portfolio investors (FPIs), as well as increased dollar sales by the Central Bank of Nigeria (CBN), Nigeria’s External Reserves plunged to $40.3 billion as at October 18, 2019. This is the first time in almost two… Continue reading EXTERNAL RESERVES PLUNGES TO $40.3 BILLION_Femi Ehiabhi
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USSD CHARGES: CBN WILL NOT ALLOW IT-EMEFIOLE
“About five, four months ago, I held a meeting with some telecom companies as well as the leading banks in Nigeria at Central Bank, Lagos,”
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MINISTER ORDERS SUSPENSION OF N4 USSD CHARGES_Ada Nkong
The Minister of Communication has suspended the N 4 USSD charge planned by mobile Operators. A statement by Mrs Uwa Suleiman, Spokesperson to the Honourable Minister of Communications on Sunday directed the immediate suspension of the charges until he’s properly briefed. The Minister is said to be unaware of the imposed charges. The statement reads,… Continue reading MINISTER ORDERS SUSPENSION OF N4 USSD CHARGES_Ada Nkong
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SENATE APPROVES 2020-2022 MTEF_Ada Nkong
Following a debate that lasted about two hours thursday,the Senate has passed the 2020-2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). This followed the presentation of the report on the 2020-2022 MTEF FSP by the Senate Committee on Finance. Shortly after Senator Solomon Adeola made the submission, the lawmakers passed all the… Continue reading SENATE APPROVES 2020-2022 MTEF_Ada Nkong
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FRESH $2.5BN WORLD BANK LOAN: FG IN TALKS_Femi Ehiabhi
The Federal Government and World Bank are in talks for as much as $2.5 billion in a new tranche of concessionary lending to Nigeria, the bank’s Vice President for Africa Hafez Ghanem has said. In the past year Nigeria received $2.4 billion from the World Bank, Ghanem said in an interview with Bloomberg in Abuja… Continue reading FRESH $2.5BN WORLD BANK LOAN: FG IN TALKS_Femi Ehiabhi
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CBN INCREASES CHARGES ON WITHDRAWALS_Ada Nkong
The Central Bank of Nigeria on Tuesday disclosed that the nationwide implementation of the cashless policy will begin by March 2020. This was contained in a circular to all Deposit Money Banks in the country. According to the circular, implementation of the policy would signal the imposition of charges on deposits in addition to already… Continue reading CBN INCREASES CHARGES ON WITHDRAWALS_Ada Nkong
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