NSE moves 310.56 million shares worth N4.99 billion
Businessam StaffOctober 18, 2019
The Nigerian Stock Exchange (NSE) on Friday moved 310.56 million shares worth N4.99 billion in 2,825 deals. News Agency of Nigeria (NAN) reports that this was against 147.09 million shares valued at N2.89 billion traded in 2,347 deals on Thursday. Guaranty Trust Bank dominated trading activities with 75.22 million shares worth N1.98 billion. It was […]
Buhari orders forensic audit of NDDC from 2001 to 2019
Businessam StaffOctober 17, 2019
President Muhammadu Buhari has ordered a forensic audit of the operations of the Niger Delta Development Commission from 2001 to 2019. The decision followed persistent criticisms of the operations of the commission. A statement by Femi Adesia, the special adviser (media and publicity), said Buhari gave the directive after receiving governors of the states that […]
FirstBank leads dialogue for inclusive growth in Fintech ecosystem
Omobayo AzeezOctober 17, 2019
By Omobayo Azeez First Bank Nigeria Limited (FirstBank) has championed discourse in the financial services industry to promote inclusive growth in financial technology (Fintech) as it relates to small and medium enterprises (SMEs) in the ecosystem. ___________________________________________________________________ The bank further expressed this at the third edition of its annual Fintech Summit themed “Banking + Tech […]
Buhari reduces ministers’ foreign trips, cuts their estacodes
Businessam StaffOctober 16, 2019
President Muhammadu Buhari has reduced the number and duration of foreign trips for ministers and other categories of government officials in a move described as ‘cost-saving measure’ to achieve fiscal prudence. In a statement signed by Willie Bassey, the director of information at the office of the Secretary to the Government of the Federation, the President also removed […]
Reforms targeted at improving public finance efficiency – Idris
Tola AkinmutimiOctober 16, 2019
By Tola Akinmutimi Ahmed Idris, the accountant-general of the federation, on Wednesday said that ongoing reforms in the country and other countries globally were being pursued by national governments to improve governance for efficiency and effectiveness. Idris made this remark when he received the Dasuki Arabi, director general of Bureau of Public Service Reform (BPSR) […]
Inflation hits 11.24% as food prices rise
Businessam StaffOctober 16, 2019
The consumer price index, that measures the rate at which the prices of goods and services in increase, stood at 11.24% in September. This is a 0.22 percentage point increase from the 11.02% recorded in August. All the indices that measure inflation recorded an increase. “The urban inflation rate increased by 11.78 percent (year-on-year) in […]
States record N691bn IGR in six months — NBS
Businessam StaffOctober 11, 2019
Within a six months period covering January to June this year, the 36 states and the Federal Capital Territory generated the sum of N691.11bn as internally generated revenue. The figure is contained in the second quarter IGR report released on Friday by the National Bureau of Statistics. The report explained that the N691.11bn represents an […]
MMA Customs revenue generation for September rises by 25%
Samson EchenimOctober 10, 2019
By Samson Echenim Revenue generation by the Murtala Mohammed Airport area command of the Nigeria Customs Service for September 2019 hit N4.99 billion, up from N3.97 billion generated in the same month in 2018, showing an increase of 25 percent. The command, in a statement on Tuesday, said it exceeded its monthly revenue target with […]
2020 Budget: CSOs raise concerns over VAT increase, frivolous items, others
Businessam StaffOctober 10, 2019
Less than 24 hours after president Muhammadu Buhari presented the 2020 budget proposal of N10. 33 trillion to the National Assembly on Tuesday, Civil Society Organisations, CSOs, have raised grave concerns over items of the proposed budget, which include an increase of value added tax, VAT, to 7.5 per cent, frivolous items, deficit and borrowings, […]
Airtel Africa, Mastercard target 100m customers with e-payment solutions
Omobayo AzeezOctober 9, 2019
By Omobayo Azeez Airtel Africa has partnered Mastercard, the digital payment service provider, to give over 100 million Airtel Africa mobile phone users across 14 African countries access to Mastercard’s global e-payment network. According to the telecoms company in a statement on Wednesday, Mastercard virtual card which is different from its plastic card will […]