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The federal government under the World Bank supported states fiscal transparency, accountability and sustainability (SFTAS) Programme-for-Results has disbursed N123.34 billion performance-based grant to eligible states. The minister of finance, budget and national planning, Zainab Ahmed, said Sokoto state received the highest amount of N6.612 billion while Kano state got the […]
On Tuesday, the naira suffered further decline at the parallel market and Investors and Exporters forex window. According to figures obtained from Bureau De Change operators, the naira exchanged to the dollar for 473/$ at the parallel market. In recent times, it had gained after ending the year 2020 at […]
A voluntary production cuts document published by the Organisation of Petroleum Exporting Countries (OPEC) reveals that Nigeria has agreed to voluntarily cut its daily crude oil production by 939,000 barrels between January and March. If the cuts is fully complied with, Nigeria’s daily production will be 1.51 million barrels per […]
Nigeria has lost N5.4 trillion to tax evasion by multinationals. This is according to the Federal Inland Revenue Service (FIRS). The FIRS chairman, Muhammad Nami who disclosed this on Monday while speaking at a workshop in Abuja explained that the revenue was lost between 2007 and 2017. While commending some […]
Alfred Olajide has been appointed by Coca-Cola has it’s new vice president and managing director for its Nigeria operations. According to a statement by the company, the appointment followed a reorganisation of its global leadership structure. Olajide takes over from Yebeltal Getachew whose tenure elapsed on December 31, 2020. Coca-Cola […]
The total net worth of the President/Chief Executive, Dangote Industries Limited, Aliko Dangote on Friday dropped by $900m as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange. According to Bloomberg Billionaires Index — a ranking of the world’s 500 richest people, […]
The government of Ghana has offered free electricity units to lifeline customers for three months. Lifeline customers are those who consume less electricity compared to some consumers who use multiple phases. The managing director of the Electricity Company of Ghana Limited, Kwame Agyeman-Budu, in a statement on Tuesday said the […]
First City Monument Bank (FCMB) has appointed Yemisi Edun as its new managing director in acting capacity, following the allegations of marital infidelity between Adam Nuru, the managing director, and Moyo Thomas, a former employee of the bank. In a tweet on Wednesday, FCMB said while Nuru is on leave, […]
The Debt Management Office (DMO) says Nigeria took loans worth $31.98 billion from World Bank Group, International Monetary Fund (IMF), African Development Bank (AfDB) Group and others as of September 2020. This is contained in the September 30, 2020, debt stock report recently released by the DMO. According to the […]
