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Central bank: 40 per cent of foreign credits in Nigeria’s economy dangerous

The Central Bank of Nigeria (CBN) has revealed that 40 per cent of the total credits available in the economy, especially in the capital and money markets are from foreign holdings.

Experts advise governments to use capital market for infrastructure funding

Private and public sectors experts have advised governments at all levels to use the capital market to bridge funding gap and develop much-needed infrastructure.
Gov. AbdulRahman AbdulRazaq of Kwara, has congratulated President Muhammadu Buhari, on his victory at the Presidential Election Petition Tribunal.

Governor AbdulRazaq: We’ll jumpstart Kwara economy with infrastructure

Kwara State Governor AbdulRahman AbdulRazaq has said he would jumpstart the state economy and tourism sector with solid infrastructure, especially roads and other basic amenities.
Hassan Rouhani said Sunday Iran extends its “hand of friendship and brotherhood” toward cooperating with regional nations.

Iran unveils budget of ‘resistance’ against US sanctions

Iran’s President Hassan Rouhani on Sunday presented to parliament what he called a “budget of resistance” against crippling sanctions imposed by arch-enemy the United States.
Governor of Lagos State, Mr. Babajide Sanwo-Olu, has promised the support of his administration for creative industry with a view to making the sector achieve a sustainable economic status. 4

Lagos okays N250 million for research, innovation council

The Lagos State government on Thursday said it has voted N250million for its agency for speeding up innovation, the Lagos State Science, Research and Innovation Council (LASRIC) for use by innovators in the state.
A fire incident occurred at the headquarters of the Federal Inland Revenue Service (FIRS) in Abuja on Monday, officials said.

FIRS creates e-tax services

The Federal Inland Revenue Service (FIRS) has created electronic tax services, (e-tax services) to improve transparency and speed in tax administration.
Babatunde Fowler FIRS

Tunde Fowler: Digital economy now new gold

Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has described the digital space as the new gold in revenue generation in the country.
The African Export-Import Bank (Afreximbank) says it is providing one billion dollars grant to African countries to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA).

AfCFTA will promote insecurity, imperialism – NGO

The federal government has been advised to urgently reverse its decision to take part in the proposed African Continental Free Trade Agreement (AfCFTA) signed by 27 African Union member states in Kigali, Rwanda, describing it as an instrument of neo-colonialism.
All Progressives Congress (APC) National Publicity Secretary, Lanre Issa-Onilu

APC: Third term for President Buhari is unconstitutional

The ruling All Progressives Congress, APC, has warned those seeking an amendment to the constitution to allow President Muhammadu Buhari become eligible for another term in office to desist from their illegal and unconstitutional act warning that the party would discipline any member engaged in such.
The Chief Executive Officer (CEO), First Bank of Nigeria Limited, Adesola Adeduntan, has said the introduction of FirstGem, a female-focused product by the bank has contributed to the development of the Nigerian economy.

Adesola Adeduntan: First Bank drives economic development with FirstGem

The Chief Executive Officer (CEO), First Bank of Nigeria Limited, Adesola Adeduntan, has said the introduction of FirstGem, a female-focused product by the bank has contributed to the development of the Nigerian economy.

PDP governors strategies on IGR

Governors elected on the platform of the Peoples Democratic Party, PDP, are currently meeting in Abuja’s, with top party functionaries in attendance.
The Speaker of the House of Representatives, Femi Gbajabiamila, has called for an improved welfare package for teachers in Nigerian as they join their colleagues globally to mark this year’s World Teachers’ Day. 7

House of Reps probe diaspora remittances in last three years

House of Representatives has mandated its Committees on Diaspora, Banking and Currency, National Planning and Economic Planning to investigate the actual amount of remittances made by Nigerians in diaspora between 2016 and 2019.
As part of its ongoing effort to revitalise the growth of SME’s in the Health Sector, Polaris Bank has announced the introduction of a new Polaris Health Sector Loan bundle to support the growth of the sector.

Bank to fund SMEs in health sector

As part of its ongoing effort to revitalise the growth of SME’s in the Health Sector, Polaris Bank has announced the introduction of a new Polaris Health Sector Loan bundle to support the growth of the sector.

CITN: Apathy causes outcry against new tax regime

The President of Chartered Institute of Taxation of Nigeria (CITN), Dame Olajumoke Simplice, has blamed Nigerians’ outcry against the new tax regime on long period of apathy and lack of focus to make taxation the bedrock of government’s revenue mobilisation.
Central Bank of Nigeria - CBN

NECA applauds central bank over 60 per cent loan deposit ratio

Nigeria Employers’ Consultative Association (NECA) has applauded the Central Bank of Nigeria (CBN) over it directive to the commercial banks to maintain a minimum Loan Deposit Ratio (LDR) of 60 per cent. The body said this will aid the growth of the real sector of the economy.
The border closure has affected goods from other West African countries. Wikimedia Commons

NEPZA: Benin accounts for N1.45 trillion goods smuggled into Nigeria annually

This was the revelation from Simon Tsuwan, a representative of the Acting Managing Director, Nigeria Export Processing Zones Authority (NEPZA), David Terhemba Nongo, has revealed. He spoke on the sidelines of a two-day national workshop in Lagos, last week.
The Centre for Anti-Corruption and Open Leadership, CACOL, has commended the Muhammadu Buhari’s government’s support for the quick establishment of specialized courts to try corruption and its allied cases for speedy determination of such cases within a stipulated time in order to bring culprits to book and discourage penchant for embezzlement and other forms of grand corruption.

President Buhari: Nigeria saves billions of dollars from food importation

President Muhammadu Buhari has commended Nigerian farmers over improved food production in the country.
The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo, has said the Federal Government will welcome long-term agribusiness activities coming from Russia to Nigeria.

We’re addressing your concerns – Nigeria tells US investors

The Federal Government has assured existing and potential American investors of its commitment to addressing issues of corruption, political instability and insecurity in the country.

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PRESIDENT BUHARI PRESIDES OVER FEC MEETING MAY 8 2019 5

FEC approves N307.5 million for NAFDAC operational vehicles

The Federal Executive Council (FEC) has approved N307.5 million for the purchase of operational vehicles for the National Agency for Food and Drug Administration and Control (NAFDAC).
Abubakar Malami

AGF: Federal government has ordered probe of court invasion by DSS

The Federal Government has ordered an investigation into the Friday invasion of the Federal High Court, Abuja, by the operatives of the Department of State Service, the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, has said.
The Director General of the International Labour Organization, ILO, Mr. Guy Ryder has commended Nigeria for the labour friendly disposition of the President Muhammadu Buhari administration.

Pensioners beg President Buhari to give them free healthcare services

The Nigeria Union of Pensioners (NUP) has appealed to President Muhammadu Buhari to approve free medical treatments for them who are 70 years and above across the country.
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila (APC-Lagos), has announced the demise of a former member of the house, Rep. Tony Okey. 7

Speaker Gbajabiamila: House of Reps will pass PIB, new electoral act next year

Speaker of the House of Representatives, Rep. Femi Gbajabiamila has promised that the House of representatives will establish the first Library for the National Assembly, pass amendments to the Electoral Law and the Petroleum Industry Bill, (PIB) next year.

Court remands four suspects for allegedly trading in human parts

An Ilorin Magistrates’ Court, on Wednesday, remanded four suspects in an Ilorin Correctional Centre for allegedly buying and selling human parts in the metropolis.