$1.2bn loan: GTBank, Access, others take over Etisalat

The ownership structure of Etisalat Nigeria is now set to change after talks with lenders to restructure its $1.2bn (N541bn) loan failed.

$1.2bn loan: GTBank, Access, others take over Etisalat

The ownership structure of Etisalat Nigeria is now set to change after talks with lenders to restructure its $1.2bn (N541bn) loan failed. This came months after discussions with a consortium of 13 banks, including Guaranty Trust Bank Plc and Access Bank Plc, to restructure the loan after the telecoms firm missed repayment deadlines failed to […]

FG spent N1.2trn on capital projects in last I2 months – Finance Minister

The Federal Government has spent over N1.2 trillion in the last 12 months on capital projects in the country and pledged to continue to prioritise infrastructure spending. The Minister of Finance, Mrs Kemi Adeosun, disclosed this yesterday at the Nigerian Stock Exchange, NSE and Bloomberg CEO Roundtable Session in Lagos.

FG spent N1.2trn on capital projects in last I2 months – Finance Minister

•Signs Global Convention Act on base erosion and profit shifting •Contribution of tax to GDP is 6% By Peter Egwuatu The Federal Government has spent over N1.2 trillion in the last 12 months on capital projects in the country and pledged to continue to prioritise infrastructure spending. The Minister of Finance, Mrs Kemi Adeosun, disclosed […]

Economy will record positive growth by third quarter of 2017 – Bankers’ committee

The Director of Banking Supervision, Central Bank of Nigeria (CBN), Mr Ahmed Abdullahi on Thursday said that the economy would record tremendous improvement by the third quarter of the year.

The Director of Banking Supervision, Central Bank of Nigeria (CBN), Mr Ahmed Abdullahi on Thursday said that the economy would record tremendous improvement by the third quarter of the year. Abdullahi said while briefing newsmen on the outcome of the 333rd Bankers’ Committee meeting in Lagos. According to him, this is because the foreign exchange […]

Edo: 35,000 farmers register for CBN borrower program in Edo

A total of 35,000 farmers have registered for the Central Bank of Nigeria (CBN) Anchor Borrower Programme in Edo State. The Permanent Secretary, Edo State Ministry of Agriculture and Natural Resources, Bashir Kadiri, disclosed this recently in Benin while speaking with journalists. He said there were about 2,000 cooperative societies in the state and that […]

World Bank raises forecast for Nigeria’s economic growth to 1.2%

The World Bank yesterday upgraded its forecast for Nigeria’s economic growth to 1.2 per cent for 2017, citing improved oil production due to decreased militant activities.

World Bank raises forecast for Nigeria’s economic growth to 1.2%

The World Bank yesterday upgraded its forecast for Nigeria’s economic growth to 1.2 per cent for 2017, citing improved oil production due to decreased militant activities. The World Bank disclosed this in its June 2017 Global Economic Prospects report, saying:  “Nigeria is forecast to go from recession to a 1.2 percent growth rate in 2017, […]

[EXCLUSIVE] Stock market crashes by N1.61tn in two years under Buhari

[EXCLUSIVE] Stock market crashes by N1.61tn in two years under Buhari

Stanley Opara The Nigerian stock market crashed by N1.61tn in two years under the current Federal Government headed by President Muhammadu Buhari. Data from the Nigerian Stock Exchange showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May 26, 2017 (the last day of trading this month) was N10.047tn. […]

Nigeria dollar scarcity to continue till 2018 – Moody’s

Nigeria dollar scarcity to continue till 2018 – Moody’s

Despite the Central Bank of Nigeria’s efforts to strengthen the value of the naira against the dollar, Moody’s Investors Service has said foreign currency shortages will remain in the country till 2018. This was stated in a report, ‘Foreign-currency shortages are subsiding but will take time to overcome’, released on Monday by the global rating […]

EXCLUSIVE: NPA moves against Atiku’s biggest cash cow, Intels, over TSA policy, project funding

The Nigerian Ports Authority and and Integrated Logistics Services Nigeria Limited (Intels), Nigeria’s leading logistic firm for the oil and gas industry, are locked in a fierce business dispute, with the NPA threatening to terminate Intels’ port revenue collection contract, PREMIUM TIMES can authoritatively report today.

EXCLUSIVE: NPA moves against Atiku’s biggest cash cow, Intels, over TSA policy, project funding

The Nigerian Ports Authority and and Integrated Logistics Services Nigeria Limited (Intels), Nigeria’s leading logistic firm for the oil and gas industry, are locked in a fierce business dispute, with the NPA threatening to terminate Intels’ port revenue collection contract, PREMIUM TIMES can authoritatively report today. Those familiar with the matter said the dispute, which has […]

FG releases N1.2 trn for capital projects in 2016

FG releases N1.2 trn for capital projects in 2016

The Federal Government says despite the challenges of 2016, it was able to achieve ‘fully cash-backed” capital releases of N1.2 trillion. The Minister of Finance, Mrs Kemi Adeosun, stated this last night on her twitter handle, @HMKemiAdeosun. The minister, in the short message she tweeted, however, did not name the specific projects for which the […]

Official exchange rate redundant, Soludo tells CBN

A former Governor of the Central Bank of Nigeria, Prof. Charles Soludo, says the apex bank’s official exchange rate of N306 to the dollar has become redundant, describing it as an instrument for rent seekers and arbitrary allocation of scarce foreign exchange in the country.

Official exchange rate redundant, Soludo tells CBN

A former Governor of the Central Bank of Nigeria, Prof. Charles Soludo, says the apex bank’s official exchange rate of N306 to the dollar has become redundant, describing it as an instrument for rent seekers and arbitrary allocation of scarce foreign exchange in the country. As a result, he said the CBN must achieve a […]

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