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Tag Archives: Investments

Inflation rate at 18.72% smacks FG’s 11 reasons to believe recovery from recession

Osinbajo buhari

Less than three days after the federal government rolled out what it described as 11 reasons to show that recession is fading away, the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) report released on Wednesday in Abuja said the 18.72 per cent rise in inflation rate is 0.17 percentage points higher than the18.55 per cent recorded ...

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Ecobank inks investment financing deal with Afreximbank

Ecobank Hqs

Ecobank Transnational Incorporated, the parent company of Ecobank Group has consummated new Memorandum of Understanding with the African Export-Import Bank to drive investment financing. President of Afreximbank, Dr Benedict Oramah, in a statement Wednesday said that the collaboration would open more opportunities for African businesses to access the much-needed financing. While revealing that inadequate access to trade finance remained one ...

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Heritage bank, others still withholding MDAs fund meant for TSA

Heritage bank

More than one year after, the federal government has once again decried the resistance of some money deposit banks (MDBs) in effecting complete compliance to the Treasury Single Account (TSA) regime by remitting all funds belonging to MDAs. Otherwise, the government is expressing worry as few banks are still frustrating financial plans and performance of the government by trapping funds ...

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FG gives 11 reasons, claims economy on way out of recession

Udoma, Buhari, Adeosun

The Presidency on Tuesday announced that the nation’s economy which is currently in recession has started gradual recovery and growth. Details obtained from the 23rd newsletter published by the Presidency Office of Digital Engagement, and posted on the official website of the Presidency, @AsoRock show that the Presidency said there were 11 reasons to prove that the nation’s economy was ...

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TSA compelled MDAs to close 20,000 bank accounts in banks, saves N4.7bn monthly

Buhari CBN

Government has revealed that since the commencement of the Treasury Single Account (TSA) in September 2015, money deposit banks who had been riding on the deep pocket deposits of Ministries, Departments and Agencies (MDAs) have lost not only the custody of government’s yearly national budget, but over 20,000 accounts. The federal government had soaked away a total sum of N5.24tn ...

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CBN refutes Mailafia’s claims, says less than 1% fake naira notes in circulation

CBn Emefiele

Barely less than one week after a former deputy Governor of the Central Bank of Nigeria (CBN), Mr. Obadiah Mailafia had disclosed that the total percent of fake naira notes in circulation is in the region of 20 per cent, the bank Tuesday debunked claims, saying only about 20 per cent of the naira notes in circulation were counterfeit. Otherwise, ...

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