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Nigeria’s Recession To End Q3 2017- Emefiele

Nigeria’s Recession To End Q3 2017- Emefiele

Nigeria will be out of economic recession by the end of the third quarter of 2017, Governor, Central Bank of Nigeria (CBN), Godwin Emefiele has declared. This comes as he revealed that the nation’s foreign reserve stands at over $31billion. The apex bank boss who spoke with journalists after a closed door session with the leadership […]

Nigerian First-quarter Output Improved, Statistics Shows

Nigerian First-quarter Output Improved, Statistics Shows

From the numbers we are seeing, certainly things are improving, and if the data doesn’t show Nigeria out of recession, it will show Nigeria is on its way out of recession Nigeria’s economy, which contracted in 2016, performed better in the first three months of this year than during the previous three quarters on improved […]

Court Orders Forfeiture Of N449m Found In Abandoned BDC Shop

Court Orders Forfeiture Of N449m Found In Abandoned BDC Shop

Federal High Court in Lagos on Wednesday ordered a temporary forfeiture of the sum of N449,750,000 found in an abandoned Bureau de Change shop in Victoria Island by the Economic and Financial Crimes Commission. The forfeiture order was made by Justice Rilawan Aikawa following an ex parte application taken before him by the anti-graft agency. An […]

How To Invest In FG’s Savings Bond

How To Invest In FG’s Savings Bond

The Federal Government of Nigeria, FGN, savings bond was introduced into the market on March 7, 2017 as a result of market restructuring that saw the upward review of the minimum subscription for treasury bills and bonds in the primary market from N10,000 to N50m. This means that investors or group of investors that cannot […]

‘FG Spends 80% Of Revenue As Running Cost’

Mrs. Morenike Babington-Ashaye, a former tax manager at Cooper & Lybrand, one of the world’s oldest accounting firms (now part of PricewaterhouseCoopers), has said it is disturbing that about 80 per cent of government’s revenue is being utitilised as a running cost. Babington-Ashaye, who is also a founding member of the Chartered Institute of Taxation […]

Nigeria Is Out Of Recession, World Economics Says

Nigeria Is Out Of Recession, World Economics Says

After a few quarters of negative growth that saw the death of businesses in Nigeria, the Country’s economy is out of recession, but “conditions remain difficult for businesses,” World Economics said Tuesday. World Economics is a London-based organisation dedicated to producing financial analysis, insight and data relating to questions of key importance to the world […]

Inflation Rate Will Drop Futher, Financial Experts Predict

Financial experts have expressed optimism that the nation’s inflation figure would continue to slowdown with  enhanced stability in the  foreign exchange market. In interviews with the News Agency of Nigeria (NAN), the experts said the inflation figure would continue to witness downward trend with continuous improvement in the nation’s exchange rate. Prof. Sheriffadeen Tella, Professor […]

Court Orders Forfeiture Of $43m, £27,800, N23m Recovered By EFCC To FG

Court Orders Forfeiture Of $43m, £27,800, N23m Recovered By EFCC To FG

The Federal High Court sitting in Lagos has ordered the temporary forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 recovered by the Economic and Financial Crimes Commission from an apartment in the Ikoyi area of Lagos on Wednesday. The court, in a ruling on Thursday afternoon by Justice Muslim Hassan, ordered that the funds […]

Nigeria’s Inflation Declines By 0.52 % In March

Nigeria’s Inflation Declines By 0.52 % In March

Price increases have been recorded in all Classification of Individual Consumption. The National Bureau of Statistics (NBS) on Thursday, said that inflation dropped by 0.52 percent in March, the second decline recorded on the year- on- year basis. The first decline was recorded in February when inflation dropped by 0.94 per cent. In its latest […]

FG Recorded Fiscal Deficit Of N3.21tn In 2016

FG Recorded Fiscal Deficit Of N3.21tn In 2016

The Nigeria Federal Government recorded a fiscal deficit of N3.21tn in its operations last year, figures obtained from the Central Bank of Nigeria revealed. The figures are contained in the Financial Stability Report prepared the apex and released in Abuja on Wednesday. It stated that the fiscal deficit for the second half of the year, […]

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