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Reps: 1,723 contractors received N70 billion without mobilising to site

The House of Representatives ad hoc committee on abandoned Projects in Niger Delta has discovered that a total of 1,723 contractors had collected a total of N70.495 billion without mobilising to the site.
Bank of Agriculture - BoA

Anchor Borrowers: BOA’s N84 billion reached 500,000 farmers directly – MD

The Managing Director of Bank of Agriculture (BOA), Malam Kabir Adamu, has said that the Bank disbursed N84 billion to farmers during the Anchor Borrower Program (ABP) of the Central Bank of Nigeria (CBN).

Federal government assures steady power supply to universities

Minister of Power Alhaji Sale Mamman says that the Buhari administration is determined to provide and ensure that Nigerian universities enjoy reliable and uninterrupted power supply throughout the academic calendar.
Power

Minister assures federal universities of stable power supply

The Minister of Power, Alhaji Sale Mamman, has assured that the present administration was determined to ensure that all the federal universities enjoy reliable and uninterrupted power supply.

NSCDC arrests 12 female naira vendors

No fewer than 12 young female currency vendors have been arrested by men of Rivers State Command of Nigeria Security and Civil Defence Corps (NSCDC) over alleged illicit sale of naira notes.
Central Bank of Nigeria - CBN

Central bank orders private, public firms to pay salaries, taxes, pensions electronically

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to dishonour instructions on the payment of salaries, pensions, and taxes of public and private companies that are not transmitted on approved electronic payment and collection platforms.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Federal government begins deduction of N614 billion budget support funds from states

The federal government has said it will begin deduction of the N614 billion bailout funds disbursed to 35 States of the federation (excluding Lagos) under the National Budget Support Loan Facility.

Central bank to sanction banks for e-payment breach

Bank chiefs who breach Central Bank of Nigeria’s (CBNs) e-payment reporting rules, including using unapproved third party end-to-end payment solution are to face sanctions, the apex bank said on Tuesday.

Central bank makes DisCos’ remittance condition for N600 billion disbursement

The Central Bank of Nigeria (CBN) has warned would-be beneficiaries of the N600billion power sector intervention fund that the disbursement of the fund will be based on the accountability system of distribution companies (DisCos) which is driven by their performance through revenue remittance.

Central bank Injects $210 million into forex market

The Central Bank of Nigeria (CBN) has injected 210 million U.S. dollars into interbank segment of the Foreign Exchange Market following sales concluded on Tuesday.

Central bank urges fintechs, payment service providers to stick to standards

The Central Bank of Nigeria has urged financial technology companies, payment service providers and Deposit Money Banks engaged in offering payment solutions to customers to ensure they adhere to policy framework and standards that guide their respective operations in the ecosystem in which they operate.

Federal government receives N2 trillion revenue in six months – Budget Office chief

The Federal Government received two trillion naira as revenue from January to June 2019, Director-General of the Budget Office, Mr Ben Akabueze, has said.

Banks reject costly deposits over central bank’s policy

Banks are rejecting high interest-yielding deposits as they countdown to the Central Bank of Nigeria (CBN) policy mandating them to give out at least 60 per cent of their deposits as loans or be sanctioned, it was learnt on Monday.

FSDH: Fuel subsidy unsustainable

The Chief Executive officer of FSDH Merchant Bank Limited, Hamda Ambah, has said the government must provide palliative measures for the masses to guarantee the success of the deregulation of the downstream oil and gas sector, which will lead to the removal of fuel subsidy.

Chamber: Abuja trade fair to feature 45 foreign companies

The Abuja Chamber of Commerce and Industry (ACCI) says the forthcoming 2019 Abuja International Trade Fair will feature 45 foreign companies to strengthen businesses, trade and investment opportunities in the country.
Ogun state governor Prince Dapo Abiodun has tweeted his real official portrait, as against the image that is being circulated by street traders in Abeokuta, the capital.

Ogun begins agricultural revolution, unveils anchor borrowers’ scheme

Ogun State Governor, Mr. Dapo Abiodun has unveiled the State Anchor Borrowers’ Scheme, signaling the commencement of an agricultural revolution in the state.

Forex: Central bank intervenes with $321.11 million, CNY33.3 million

The Central Bank of Nigeria (CBN) on Friday said it made another intervention in the Retail Secondary Market Intervention Sales (SMIS) with the injection of about $321 million.

CIBN: Debtors unwilling to repay loans sabotaging economy

The President and Chairman of Council, Chartered Institute of Bankers of Nigeria, Dr. Uche Olowu, has said the failure of perpetual borrowers to repay bank loans is hurting the nation’s economy.

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Seyi Makinde

Tribunal verdict triumph of truth over falsehood – Oyo governor

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Google to unveils new Pixel phone October 15

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Reps: 1,723 contractors received N70 billion without mobilising to site

The House of Representatives ad hoc committee on abandoned Projects in Niger Delta has discovered that a total of 1,723 contractors had collected a total of N70.495 billion without mobilising to the site.

Gary Neville brands Paul Pogba’s agent Mino Raiola a ‘disgrace’

Gary Neville has branded Manchester United midfielder Paul Pogba’s agent Mino Raiola a disgrace and urged his former club to no longer negotiate with the Italian.