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IMF: Debt Service Becoming Burden to Nigeria, Others

By |October 31st, 2017|

The International Monetary Fund (IMF) has stated that debt servicing costs are becoming a burden, especially in oil-producing countries such as Nigeria, Angola and Gabon in Africa.
This, according to the multilateral institution, was expected to absorb more than 60 per cent of government revenues in the aforementioned countries in 2017.

The fund stated this in its […]

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FG Agrees to Pay N88bn as Compensation to Nigerian Civil War Victims

By |October 31st, 2017|

Forty-seven years after the Nigerian Civil War ended under ‘no victor, no vanquished’ terms, the federal government Monday agreed to pay victims of the war N88 billion as compensation.

A breakdown of the compensation adopted by the ECOWAS Court of Justice as consent judgment for government and the victims showed that N50 billion would go directly […]

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Addressing the Problem of Weak Revenue Generation in Nigeria

By |October 31st, 2017|

The 2018-2020 Medium-Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) that the Federal Government of Nigeria (FGN) released on 20 October, 2017 will focus on some areas which we think are critical in raising the revenue generating capacity of the Nigerian economy. The MTEF/FSP forms the basis on which the FGN’s yearly budget […]

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CSCS increases automation, efficiencies with TCS BaNCS, apost trade service solution

By |October 31st, 2017|

The Central Securities Clearing System (CSCS) Plc recently announced in Lagos it would increase automation and improve efficiencies in the Nigerian capital market with the deployment of TCS BaNCS, a world class multi-asset class solution for securities depository, clearing and settlement. The solution replaced the NASDAQ Equator which has been in use since inception of the […]

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National Competitiveness Council of Nigeria’s State Competitive Index to Help Spur Growth-Friendly P

By |October 30th, 2017|

The National Competitiveness Council of Nigeria (NCCN), will launch Nigeria’s first Sub-National Competitive Index on November 2, a move that will help spur growth-friendly policies.

The index evaluates the competitiveness of Nigeria’s 36 states and FCT through metrics that examine growth, development and productivity potential.

NCCN’s index draws from resources of The World Economic Forum, World Bank, Mexico’s IMCO and […]

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With Innovation Nigeria can compete globally-Dr Ogbonnaya Onu

By |October 30th, 2017|

Nigeria’s Minister of Science and Technology Dr. Ogbonnaya Onu believes Nigeria will compete globally through innovation.

The Minister asserted this at the official commissioning ceremony of the Nigerian stock exchange Data Centre.

Valued at N500ml, the Minister described it as a world-class data centre, commending the Exchange for its good work in helping to facilitate the growth […]

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CSCS Board announces Haruna Jalo-Waziri as New CEO

By |October 30th, 2017|

Pursuant to the Securities and Exchange Commission’s (SEC) “No Objection”, the Board of Directors of the Central Securities Clearing System (CSCS) Plc is pleased to announce the appointment of Mr. Haruna Jalo-Wazirias the Managing Director/Chief Executive Officer of the company effective 1 November 2017.

Mr. Jalo-Waziri replaces Mr. Bola Adeeko who was appointed Interim Chief Executive Officer effective […]

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Justice Salami Rejects Appointment To Monitor Corruption Cases

By |October 27th, 2017|

The Chief Justice of Nigeria and Chairman of the National Judicial Council, Walter Onnoghen, has confirmed the resignation of retired Justice Ayo Salami as Chairperson of the Corruption and Financial Crimes Cases Trial Monitoring Committee. Continue here: http://saharareporters.com/2017/10/26/justice-salami-rejects-appointment-monitor-corruption-cases

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Malabu Oil Deal: Finally, FG Recovers $85m from UK

By |October 27th, 2017|

The Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, Thursday said Nigeria had recovered $85 million from the Malabu Restrained Funds in the United Kingdom.

Malami spoke in Abuja at the Pre-Global Forum on Asset Recovery (GFAR) and Consultative meeting with the theme: ‘Building an Enduring Framework for Asset Recovery in […]

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A Decline in October 2017 FAAC Payout

By |October 27th, 2017|

The total monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government amounted to N558bn (US$1.82bn) in October (from September revenues), representing a 13% decline when compared with N638bn recorded in the previous month. The decline was partly linked to the 8.2% decrease in average crude oil prices during the […]

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