PUNCH
FG begins preparation of 2016 budget
The Federal Government on Tuesday began the process of the preparation of the 2016 budget for the country.[Read More…]
TSA: 300 MDAs yet to comply, says FG
The Federal Government on Tuesday said that about 600 out of its 900 Ministries, Departments and Agencies had so far complied with the directive on the Treasury Single Account.[Read More…]
Oil slump: CBN moves to boost agric lending
As the fall in global oil prices continues to batter oil-producing economies including Nigeria, the Central Bank of Nigeria has begun moves to encourage banks to advance more loans to stakeholders in the agriculture value chain.[Read More…]
THISDAY
House: FG Spent N222.1bn on Fuel Subsidy without Appropriation
The federal government spent N222.1 billion on fuel subsidy between January and July 2015 without approval from the National Assembly, despite the fact that the money was not contained in the 2015 Appropriation Act.[Read More…]
Implementation of e-Dividend Mandate System Begins
Electronic dividend (e-dividend) payment has received a boost as the Securities and Exchange Commission (SEC) informed the investing public that enrolment can now be efficiently conducted at bank and registrar branches nationwide through the online platform.[Read More…]
FG Releases Grounded Aircraft after Payment of Penalties
The federal government has released a Bombardier 700-100 with registration no: G-RBEN Global express S/N 9083, which was grounded last week after the owners of the aircraft paid a penalty of N7 million to the Nigerian Civil Aviation Authority (NCAA) and $20,000 (N4.4 million) to the Nigerian Airspace Management Agency (NAMA).[Read More…]
VANGUARD
FG spent less than 10% on insurance in 2014 — Kari
THE Federal Government of Nigeria was only able to spend about N2 billion on insurance out of N20 billion budgeted in 2014.[Read More…]
LEADERSHIP
Heritage Bank To Increase SME Lending To 25%
As part of its commitment towards growing the Nigerian economy through small and medium scale enterprises (SME), Heritage Bank has said that it plans to increase the share of lending to SMEs to 25 per cent of its loan book in 2016.[Read More…]
REUTERS
China factory slump casts pall but Europe pierces gloom
Global shares fell on Wednesday after figures showing the biggest contraction in China’s manufacturing sector since the global financial crisis intensified fears that a slowdown in the world’s second-largest economy will spread more widely.[Read More…]
Aussie dollar slides after China PMI, eyes on ECB’s Draghi
The Australian and New Zealand dollars sank on Wednesday after a business survey dealt another blow to investors’ already fragile confidence in China, the chief driver of global sentiment in the past month.[Read More…]
BLOOMBERG
Chinese Factory Gauge Slumps to Lowest Level Since March 2009
A private Chinese manufacturing gauge fell to the lowest in 6 1/2 years, underscoring challenges facing the economy as its old growth engines splutter.[Read More…]