2.38% GDP growth in Q4 2018, Nigeria’s strongest performance since recession, says budget minister
Nse Anthony-Uko
February 12, 2019
Udoma Udo Udoma, minister of budget and national planning, has expressed delight at the fourth quarter 2018 numbers just released by the National Bureau of Statistics (NBS). The report shows that the real gross domestic product (GDP) grew by 2.38 per cent, indicating the strongest quarter growth since the economy slipped into recession in 2016. […]
Nigeria’s deposit insurer, NDIC, board to focus on financial system stability
Nse Anthony-UkoFebruary 12, 2019
The safety and stability of Nigeria‘s financial system will remain the main focus of members of the newly inaugurated board of the Nigeria Deposit Insurance Corporation (NDIC) as they pledged to formulate policies that would enable them achieve these goals. Ronke Shokefun, chairman of the board made the pledge at the opening ceremony of the […]
Mixed reactions trails 2018 GDP figures as services, agriculture lead growth performance
Adesola AfolabiFebruary 12, 2019
The National Bureau of Statistics (NBS) Tuesday released Nigeria’s 2018 fourth quarter (Q4) results and 2018 full year (FY) gross domestic product (GDP) figures, showing that economic activities grew for the seventh successive quarter. The NBS report which reveals real GDP grew 2.38 percent year-on-year (y/y) in Q4-18 as against a 1.81 percent y/y growth […]
EFCC, ABCON to combat money laundering at airport
Businessam StaffFebruary 12, 2019
The Economic and Financial Crimes Commission and the Association of Bureaux De Change Operators of Nigeria have taken the campaign against money laundering and terrorism financing to Bureaux de Change operators at the Murtala Muhammed Airport 2 (MM2), Lagos. Speaking during the sensitisation programme against money laundering and terrorism financing campaign at MM2, which was […]
Nigeria’s economy grew at 1.9 percent in 2018-NBS
Adesola AfolabiFebruary 12, 2019
Nigeria’s economy grew 1.9 per cent in 2018, the National Bureau of Statistics said on Tuesday, just days from an election in which the pace of growth is a campaign issue. The NBS said gross domestic product also rose by 2.38 per cent in the fourth quarter of 2018 compared to the same quarter in […]
Nigeria expects $3bn in diaspora investment funding
Businessam StaffFebruary 11, 2019
Nigeria expects $3 billion in investment funding from citizens living mainly in the U.S. to support the agriculture, power, mining and transportation sectors, a senior presidential adviser said. The government will support “a diaspora investment fund,” Abike Dabiri-Erewa, President Muhammadu Buhari’s adviser on diaspora affairs, said in an interview in Abuja, the capital. “They’re planning […]
N3.4bn tax debt: FIRS to sell properties of 52 firms
Business StaffFebruary 11, 2019
The Federal Inland Revenue Service is to dispose off the properties of 52 companies over tax debts valued at about N3.4bn. The Punch reports that already, the Legal Department of the Service had begun the process to sell the properties in a bid to effectively implement the initiative. It was learnt that apart from the […]
Banking sector leads activity chart, lifts benchmark index by 0.8%
Adesola AfolabiFebruary 11, 2019
Banking stocks continued to be the toast of investors at the equities market as sustained bargain hunting raised the sector’s index by almost 2 percent Monday and pushed the All Share Index 0.8 percent northward in an extension of gains from the previous week. Specifically, price appreciation in Zenith Bank (+2.3%), UBA (+4.6%) and Access (+5.3%) led […]
AfDB working to improve transparency, governance, accountability in Africa, says Adesina
Businessam StaffFebruary 11, 2019
Akinwunmi Adesina, president of the African Development Bank, says the bank is working hard with African governments to improve transparency, governance, accountability and project delivery across the continent. This effort is driven by the belief held at the bank that corruption does not invest in the future but kills it, Adesina said at the World Peace […]
EFCC, SPIPRPP grill Adeosun over untoward activities as finance minister
BY OUR REPORTERSFebruary 11, 2019
By our Reporters In what appears to be an unfolding subtle probe into the tenure of former finance minister, Kemi Adeosun, business a.m. has been told by reliable sources close to the development, that she was forced back to the country two weekends ago to respond to some untoward issues pertaining to her time […]