News Reports

FIRS targets increased tax revenue from VAIDS in 2018

About N23 billion has already been generated from the scheme.

CBN

CBN injects $210 million into foreign exchange market

The bank had last Friday intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $262.5 million to cater for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors

Akinwunmi Adesina

Nigeria largest shareholder in AfDB with $6 billion portfolio – Official

The official says President Muhammadu Buhari will inaugurate the bank’s new office complex in Abuja on Thursday to further consolidate the country’s position as the largest shareholder.

Ease-of-doing business: 198 new companies spring up in Kaduna – SON

The companies include rice and vegetable oil mills, fertilizer, tomatoes paste, bakeries and animal feeds

Nigeria Stock Exchange (NSE)

NSE gets new executive director for regulation

The appointee joined the NSE in 2012.

Major Nigeria health stories last week

About 900,000 children will be immunised against polio in 2018.

Senator Udoma Udo Udoma

Why Nigerian economy will do better in 2018 — Udoma

The budget minister says the government is targeting a GDP growth rate of 3.5% and an inflation rate of 12.54%.

Nigerian-Stock-Exchange

NSE suspends trading in 7-Up shares

The trading is placed on “full suspension”.

Oil Cargo

Oil price reaches $70

Oil markets had been well supported by OPEC-led production cuts.

9mobile

Fresh crisis in 9Mobile as Court nullifies order approving its interim management

Spectrum Wireless’ application was for a nullification of the ex parte order.

Oil, gas agency plans to fund recurrent expenditure from IGR

Agency says it intends to start paying its staff salaries, overheads.

Nigeria ends 2017 with 101,695 ng domain names — Official

The use of the ng domain name slowed in December.

Sterling Bank gets new CEO

Mr. Adeola’s banking career started in the then Nigeria International Bank Ltd.

Aliko-Dangote-1062x598

Dangote named Africa’s richest for seventh year

Only two other Nigerians made the list of richest persons in the continent.

Equities maintain price rally on NSE, Index hits 43,041.54

The index rose by 1,225.43 points or 2.93 per cent to close higher at 43,041.54 against 41,816.11 recorded on Wednesday

CBN

CBN sets fresh target for Nigerian banks

The target is “to ensure that the masses and people at the grassroots have access to financial services.”

Senator Udoma Udo Udoma

Minister hosts Japanese lawmakers, discuss areas of cooperation

The areas identified are health, education, power, infrastructure development and agriculture.

Ibe Kachikwu

Economists, marketers react to Kachikwu’s three suggestions to end fuel scarcity

The minister said government is considering three options to resolve the fuel crisis.

254 firms bid to lift Nigeria’s crude oil in 2018/2019

In 2017, 224 firms participated in a similar process.

Nigeria to grow by 2.5% in 2018, says World Bank

The World Bank’s January 2018 Global Economic Prospect report also says Nigeria’s Gross Domestic Product (GDP) is expected to grow by 2.8 per cent in 2019 and 2020.

Kemi Adeosun, Minister for Finance

Bill and Melinda Gates foundation to help Nigeria repay $76 million polio facility

Minister of Finance says the eradication of polio was made possible as a result of the ODA facility provided by the Japanese Government

Internet users hit 94.8 million in November –NCC

The data shows an increase of 931,369 from October.

pic-10-minister-of-finance-holds-news-conference-on-state-of-the-economy-in-abuja

N100 billion revenue shortfall: Nigerian govt orders contractors to show TIN before payment

The finance minister says the order will assist the government block revenue leakages by MDAs’ vendors

Swiss firm to help Nigeria draft law against ‘dumping’

The company’s services would be on a pro bono basis.

CBN

Nigeria’s external reserve rises to $40.4 billion

Crude oil price also increased on Monday.