Senate backs NFIU’s directive on Local Government finance 

May 8, 2019

 The senate on Wednesday,  threw its weight behind financial guidelines for local governments recently introduced by the Nigerian Financial Intelligence Unit (NFIU).  The Senate has also resolved that relevant stakeholders like state houses of assembly and the presidency should expedite action on the nagging issue of granting financial autonomy to local government councils across the […]

AfDB, Fidelity Bank to fund MSMEs with $50m

May 8, 2019

The African Development Bank and Fidelity Bank Plc have signed a $50m financing agreement aimed at the funding and promoting the growth of Micro, Small and Medium Enterprises in the country. At the signing of the agreement in Abuja on Tuesday, AfDB disclosed that the board of the development finance institution had approved the fund […]

FG offers 2, 3-year savings bonds at 11.74%, 12.74% for May

May 7, 2019

The federal government has offered for subscription of two-year savings bond at 11.74 per cent and three-year savings bond at 12.74 per cent per annum, the Debt Management Office (DMO) has said. According to the offer circular obtained from the DMO website on Monday, the two-year bond will be due in May 2021, while the […]

Taxpayers hit 45m soon, says FIRS

May 7, 2019

The Federal Inland Revenue Service (FIRS) says the country’s taxpayers will soon increase to 45 million. Wahab Gbadamosi, the head, communications and SERVICOM department, in a statement in Abuja on Monday said the Executive Secretary, Joint Tax Board (JTB), Mr Oseni Elamah, disclosed this at the presentation of the new Taxpayer Identification Number (TIN) Registration […]

States’ IGR hits N324.59bn in Q4, 2018 – NBS 

May 2, 2019

The National Bureau of Statistics (NBS) said the internally generated revenue (IGR) of 36 states and the Federal Capital Territory (FCT) for fourth quarter 2018 was N324.59 billion compared to N264.34 billion recorded in third quarter of the same year. NBS disclosed this in “IGR at State Level for Fourth Quarter and Full Year 2018” […]

Bank of England ups growth forecasts and holds rates following Brexit delay

May 2, 2019

The Bank of England (BOE) held interest rates steady on Thursday following the agreement to extend the deadline for the U.K.’s withdrawal from the European Union until October. The nine-member monetary policy committee (MPC), led by governor Mark Carney, voted unanimously to keep interest rates unchanged at 0.75%. This was the first meeting of the […]

SEC restates commitment to fight money laundering, terrorism financing in capital market

May 2, 2019

The Securities and Exchange Commission (SEC) on Thursday expressed commitment to ensuring that the capital market was not used for money laundering and terrorism financing.  Mary Uduk, SEC acting director-general, stated this in her opening remarks at the anti money laundering (AML) training for compliance officers of capital market operators (CMOs) in Lagos. Uduk, represented […]

Fed likely to ignore Trump’s call to cut interest rates

May 1, 2019

The U.S. Federal Reserve, leaning back against pressure from President Donald Trump to slash interest rates, is expected to leave borrowing costs unchanged on Wednesday as it maintains a ‘patient’ monetary policy stance amid strong economic growth. Trump, who has accused the U.S. central bank of undercutting his efforts to boost economic growth, said on […]