Category Archives: Finance

Lagos Internal Revenue Service Hires New Tax Experts

The Lagos State Internal Revenue Service has engaged 1,200 members of the Chartered Institute of Taxation of Nigeria and the Institute of Chartered Accountants of Nigeria as tax audit monitoring agents in order to ensure the maximisation of its revenue-generating

First Bank Nigeria Set To Fire 1,000 Workers

FBN Holdings Nig. Plc, the parent company of First Bank Nigeria Limited, is planning to cut about 1000 jobs and focus less on providing loans to the oil industry in a bid to reverse the 2015 financial year’s 82 per

Naira Crashes As FG Denies Currency Swap Deal with China

The naira took a downward swing on Thursday after federal government’s disclosure that there was “no yuan swap” deal signed by Nigeria and China. The Naira, which traded between 315 and 317 on Wednesday, sunk sharply to a position between

Focus on Non-oil Resources, IMF tells Nigeria

The International Monetary Fund (IMF) has stressed the critical need for Nigeria to raise non oil revenues to ensure fiscal sustainability while maintaining infrastructure and social spending. This is contained in a statement released yesterday by the Board of the

Sterling Bank Trains 15,000 Students On Financial Literacy

Not fewer than 15,000 students in primary and secondary schools across the country benefited from the voluntary teaching programme organised by Sterling Bank Nigeria Plc in commemoration of the 2016 Financial Literacy Week which was held last week. The training

ICPC Writes Nigerian Banks On Mobile Money Transfers

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has written banks in Nigeria to introduce security measures to prevent fraud committed through cash transfers via mobile banking applications. This was disclosed by the ICPC chairman, Barr. Ekpo Nta,

BoI To Disburse N310bn Loans To SMEs In 4 Years – DG

The Bank of Industry (BoI) on Friday said it would disburse at least N310 billion in loans to Small and Medium Enterprises (SMEs) between 2016 and 2019. Mr Waheed Olagunju, the Acting Director-General of the bank, disclosed this at a

Gtbank International Payment Tips

Please read the New International Payment Tips Gtbamk sent me recently. Dear Customer, International Payment Tips We would like to inform you of an important point when using your GTBank Naira MasterCard for international payments. At the point of payment,

CBN, Naira Devaluation and Matters Arising

Entrenching a realistic and sustainable micro-economic policy in Nigeria has been a huge challenge for years. Although successive administrations have considered various micro-economic policies to strengthen the economy, reduce inflation and stabilise the Naira, economists say much still needed to

Budget 2016: Delivering PMB Budget Of Change To Nigerians

President Muhammadu Buhari presented the 2016 budget of six trillion naira to the National Assembly during the week tagged the Budget of Change. JONATHAN NDA-ISAIAH, in this report, takes a look at critical sectors that will be affected by the