National Assembly raises own 2020 budget by N3bn

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The National Assembly has raised its budget for 2020 from the N125bn to N128bn. The House of Representatives Committee on Appropriations made the recommendation in its report on the 2020 Appropriation Bill scheduled for consideration and passage today. The increment of the National Assembly budget forms part of the increase in the size of the […]

NBS: 18 bankers sacked daily between January and September

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NBS: 18 bankers sacked daily between January and September

An average of 18 people were sacked every working day between January and September 2019. This is according to data made available by the National Bureau of Statistics (NBS). According to the ‘Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels and Staff Strength’ report, 3,582 people were sacked between the first and third […]

LAPO Microfinance Bank’s founder, Godwin Ehigiamusoe exit company, gets replacement

December 2, 2019

LAPO Microfinance Bank’s founder, Godwin Ehigiamusoe exit company, gets replacement

LAPO Microfinance Bank has made changes to its management following the exit of Godwin Ehigiamusoe, the founder and Chief Executive Officer of the financial institution and Lift Above Poverty Organization (LAPO NGO). The microfinance bank said Ehigiamusoe had been replaced by Cynthia Ikponmwosa. She was nominated to take over the Managing Director role of the financial arm of LAPO. Ikponmwosa’s […]

FG targets 15% Tax-to-GDP ratio with the Nigeria finance bill

November 27, 2019

FG targets 15% Tax-to-GDP ratio with the Nigeria finance bill

The federal government is targeting a tax-to-gross domestic product (GDP) ratio of 15 per cent by 2023, up from the six per cent it is presently, with the Nigeria Tax and Fiscal Law Amendment Bill (the Finance Bill) currently before the National Assembly, according to Zainab Ahmed, the minister of finance, budget and national planning. […]

UBA CEO speaks on the mission to actualise financial inclusion for women

November 26, 2019

UBA CEO speaks on the mission to actualise financial inclusion for women

The Chief Executive Officer of United Bank for Africa Plc (UBA), Kennedy Uzoka, is in Rwanda attending the ongoing 2019 Global Gender Summit. On the sidelines of the event, he spoke to CNBC Africa about the efforts his tier-1 bank is making towards accelerating financial inclusion for women across Nigeria and beyond. The issue According to him, […]

SEC cancels bank signature verification for e-dividend exercise

November 26, 2019

SEC cancels bank signature verification for e-dividend exercise

The Securities and Exchange Commission (SEC) has directed that registrars discontinue the practice of requesting for confirmation of bank signature during the e-dividend mandate management System (e-DMMS) process. Mary Uduk, the acting director-general, SEC, disclosed this while addressing the press on the third quarter Capital Market Committee meeting in Lagos on Friday. She stated that […]