Tag - vanguard

  PUNCH AfDB approves $600m loan for Nigeria The African Development Bank’s Board of Directors on Wednesday approved a $600m loan for Nigeria, several months after the Federal Government had approached the lender for a budget-support facility.[Read More…] Buhari’ll resend $30bn loan request to Senate, says minister President Muhammadu Buhari will resubmit the request for his …

  THISDAY Union Dicon Salt Takes Over $100m Alape Staple Crop Processing Zone The future looks rosy for shareholders of Union Dicon Salt Plc as the company has become the core investor in the $100 million Alape Staple Crop Processing Zone (SCPZ) in Kogi State. Union Dicon Salt replaces Cargill, a United States based agro-industrial …

PUNCH FG generates N586.17bn from taxes in 90 days The Federal Government generated a total sum of N586.17bn as tax revenue through the Federal Inland Revenue Service in the first quarter of this year, a document showing the fiscal position of government has shown.[Read More…] UK approves N4.74bn for solar power in Nigeria The United Kingdom, …

THISDAY Forte Oil to Raise N100bn Capital for Expansion Forte Oil Plc is to raise N100 billion fresh capital  to expand its operations within Nigeria.  Consequently, the directors of the company are seeking the approval of shareholders at the forthcoming annual general meeting  to raise the funds. According to the company,  the N100 billion could …

PUNCH Lagos to prosecute tax defaulters from April 1 The Lagos State Internal Revenue Service says it will commence the prosecution of tax evaders and offenders in the state from April 1, 2016.[Read More…] China reduces import of Nigerian crude oil Nigeria saw its share of China’s crude oil imports shrink by 7.5 per cent last …

VANGUARD China wants more of Nigeria’s oil China has said it would need more crude oil exports from Nigeria, in spite of the recent changes in prices.[Read More…] CBN to sell N1trn treasury bills in Q-2 2016 The Central Bank of Nigeria (CBN) yesterday said it will sell treasury bills of N1.73 trillion in the second …

  THISDAY Crude Theft: FG Sues IOCs over $12bn Missing Oil Revenue In a move interpreted by industry watchers as a major step by the Muhammadu Buhari administration to curb the menace of oil theft in the country, the federal government has instituted civil suits against international oil companies (IOCs) operating in the country in …

PUNCH Again, Buhari rejects calls for naira devaluation President Muhammadu Buhari has again rejected calls by the International Monetary Fund to lift foreign exchange restrictions and allow a more flexible exchange rate for the naira.[Read More…] Investment inflow into Nigeria drops by N2.3tn Over the past three years, the flow of investment into the country has …

GUARDIAN FG to unbundle NNPC into 5 operational zones The Minister of State, Petroleum Resources, Dr Ibe Kachikwu, on Thursday said that a major overhaul of the Nigerian National Petroleum Corporation (NNPC) system would be announced in the next one week.[Read More…] PUNCH $20bn idle in Nigerians’ domiciliary accounts –CBN The Central Bank of Nigeria on …

THISDAY N330bn in Treasury Bills to Mature This Week Treasury bills valued at N329.9 billion are expected to mature this Wednesday. This however is expected to be offset by an auction of same amount.[Read More…] Zenith Bank Takes Lead in Forex Allocation from CBN Bank returns on the utilisation of foreign exchange bought by commercial banks …