The International Monetary Fund (IMF) has expressed concern over Nigeria’s ability to service its external loans estimated at over $18.9billion, given its mono-product economy status and low revenue base.
‘FG targets seven per cent growth’
The Federal Government is targeting an ambitious seven per cent economic growth by 2020, against a mere 0.8 per cent achieved in 2017, the Minister of Budget and National Planning, Udoma Udo Udoma has said.
Coronation Merchant’s assets hit N137 billion with zero NPL
Coronation Merchant Bank Group has recorded a significant growth in its 2017 operations, as total assets increased by 28 per cent to N136.7 billion from N106.6 billion achieved in the corresponding period of 2016.
FIRS, JTB, SMEDAN take tax awareness to SMEs
The Federal Inland Revenue Service (FIRS), Joint Tax Board (JTB) and the Small and Medium Enterprises Development Agency (SMEDAN) have sensitised Business Membership Organisations (BMOs) on tax payment and their rights as taxpayers, in a move aimed at stimulating the economy.
Access Bank’s SME loan portfolio hits N60 billion
Access Bank Plc may have empowered the Small and Medium scale Enterprises (SMEs) in the country as its loan portfolio reaches N60 billion mark.Besides, the bank disclosed that it currently has about 250,000 SMEs’ accounts, which it hoped to double in a short while.
Experts task audit committee on banks’ reports, others
To achieve robust financial reporting and safeguard assets of banks, financial experts have stressed the need for audit committee members to focus more on issues around internal controls, reporting, disclosures and information technology in the discharge of duties in their respective institutions.
FCMB unveils automated branch, project at LASPOTECH
First City Monument Bank (FCMB) has opened its Flexx Hub, a specially designed automated branch to cater for the banking needs of students on campuses, at the Lagos State Polytechnic (LASPOTECH), Ikorodu.
Banks’ stocks lift NSE’s turnover by N30b
Heavy transactions in the shares of some banks, especially FCMB and United Bank for Africa (UBA), last week, lifted the volume of shares traded, as a turnover of 3.008 billion shares worth N30.296 billion was recorded in 24,036 deals by investors on the floor of the Nigeria Stock Exchange (NSE).
The desperate journey of the naira
It is a noteworthy development that Nigerian workers are contemplating the necessity of asking for a salary review. The minimum wage remains N18,000.00 per month, which may not be enough to feed a senator’s dog for the same period. It is true that Senator Shehu Sani some weeks past has revealed to us the best…
Shareholders demand Adeosun’s sack over Oando saga
Three shareholders’ groups have call for the immediate sack of the Minister of Finance, Mrs. Kemi Adeosun, for her unwholesome interference on the affairs of the Securities and Exchange Commission (SEC).
FMDQ OTC admits N100 billion infrastructure Sukuk on platform
Efforts to tackle the nation’s infrastructure deficit is yielding a reasonable result, as the Federal Government through the Ministry of Finance, and the Debt Management Office (DMO), last week, listed the ₦100 billion Federal Roads Sukuk on the FMDQ OTC Securities Exchange platform. The seven-year, 16.47 per cent Ijarah Sukuk due 2024 and the first…