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Finance
Union Bank Provides Assistance to 6,000 Regional Farmers.

Union Bank Provides Assistance to 6,000 Regional Farmers

Posted: October 1, 2022 at 4:38 am   /   AFRICA, Business, Finance, news, TRENDING

In order to support farmers in Kebbi State in their efforts to become financially included, Union Bank of Nigeria has teamed up with Wacot Rice Limited.The bank said on Tuesday that it has teamed up with the rice processing business Wacot Rice Limited to financially support 6,000 neighborhood growers.This was said to apply to mothers […]

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Fidelity bank, SMEDAN agree to close $158.1 billion SME financing gap

Fidelity bank, SMEDAN agree to close $158.1 billion SME financing gap

Posted: October 1, 2022 at 4:36 am   /   AFRICA, Business, Finance, news, TRENDING

A Memorandum of Understanding (MoU) was signed between Fidelity Bank Plc and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to close the $158.1 billion financing gap for small and medium-sized businesses in Nigeria. According to the World Bank, Nigeria’s financing gap for MSMEs is estimated at $158.1billion. The MoU, according to both […]

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Nigerian Senate confirms Cardoso as CBN governor, four other deputies

Nigeria to face harder times as CBN raises interest rate

Posted: September 28, 2022 at 3:06 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

Nigeria may have to face harder times following the raising of the interest rate by the Central Bank of Nigeria. The benchmark interest rate set by the CBN, the Monetary Policy Rate (MPR), was raised for the third time in a row on Tuesday to 15.5 percent. The CBN raised the cash reserve ratio (CRR) […]

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Buhari's ministers, appointees frustrating anti-graft war in Nigeria —Reps

REVEALED: Corruption in House of Reps as members squander N2.5bn allocation

Posted: September 19, 2022 at 2:27 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

Members of the Federal House of Representatives were paid N2,500,000,000 as running costs and for constituency projects in 2019 but an audit report by the Federal Government has revealed that the legislators could not account for the money or what it was spent on. Caracal Reports learnt that the money was granted to the Honorable […]

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Govs wreck LGs, stealing their funds – Buhari says

Tax payment: FG grants N16trn waiver to Dangote, Honeywell, others

Posted: September 19, 2022 at 2:23 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

The Federal Government has foregone N16.76tn in revenue to tax reliefs and concessions given to large companies between 2019 and 2021, according to findings.  As of the end of 2021, 46 companies had benefitted from various tax incentives and duty waiver schemes while the requests of 186 companies were still pending.These were contained in the […]

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New UK Prime Minister, Truss’ policy could boost UK-Nigeria trade beyond current £4.4 billion

New UK Prime Minister, Truss’ policy could boost UK-Nigeria trade beyond current £4.4 billion

Posted: September 7, 2022 at 7:09 pm   /   AFRICA, Business, Finance, news, TRENDING

Mary Elizabeth Truss, the leader of the Conservative Party, taking power as Britain’s next Prime Minister (PM). Her policy trust may just be the tonic to ramp up UK-Nigeria trade beyond the current £4.4 billion mark.   Truss, aged 47, is the third female Prime Minister of the United Kingdom; following Theresa May and Margaret Thatcher.  The […]

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Customs recovers pump action rifles, 1500 bags of rice from smugglers

Custom expresses doubt in NNPC over N6.34trillion petrol subsidy

Posted: September 2, 2022 at 4:21 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

The Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd.), has stated that the Nigerian National Petroleum Company Limited (formerly Nigerian National Petroleum Corporation) cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to warrant the over N6.34tn subsidy payment on the commodity annually. Ali stated this in his […]

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CBN Governor, Emefiele, Afreximbank President, Oramah, Others under EFCC, NFIU investigations over $300million Paid to acquire Union Bank

CBN worries as oil dropped by 29% to N790bn

Posted: August 31, 2022 at 5:31 am   /   AFRICA, Business, FEATURED STORIES, Finance, TRENDING

The Central Bank of Nigeria has expressed worries as the crude oil revenue crashed by 29 per cent in the first quarter of 2022. CBN in its latest economic and statistical report for the first quarter of 2022, revealed that earnings from crude oil has dropped to N790bn from N1.1trn recorded in the previous quarter, […]

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NCC threatens to withdraw airlines licenses over N46bn debt

NCAA threatens to withdraw airlines licenses over N46bn debt

Posted: August 31, 2022 at 5:24 am   /   AFRICA, FEATURED STORIES, Finance, Lifestyle, news, TRENDING

The Nigerian Civil Aviation Authority, on Tuesday, said it would withdraw the licenses of domestic airlines within 30 days beginning from August 30, 2022, if the airlines fail to sign a Memorandum of Understanding on how to clear the about N46bn debt which they owe aviation agencies. It said this in response to a letter […]

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Redesigned naira notes will come with consequences, Budget minister says

Worries as FG’s debt may hit N54tn

Posted: August 30, 2022 at 3:05 am   /   AFRICA, Finance, news, TRENDING

…Plans to borrow to finance 2023 budgetThe Federal Government is proposing a budget with estimates totalling N19.76tn, while the deficit will hover between N11.30tn and N12.41tn in the 2023 fiscal year. If the deficit settles at N12.41tn in 2023, the Federal Government may need to borrow to finance it, which could raise Nigeria’s total debt […]

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