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  • UPDATED: NNPC says CBN supervising $231.8 mln government remittance

    July 21, 2017 9:53 PM 11

    ABUJA, July 21 – Nigeria’s state oil company on Friday said the central bank was supervising the remittance of funds to the government totalling $231.8 million from Diamond Bank, Skye Bank and Keystone Bank. The Nigerian National Petroleum Corporation (NNPC) said the money accrued from investments — $174.4 million with Diamond Bank, $40.7 million in Skye Bank and $16.7 million

  • $793.2m TSA Funds: Skye Bank Confesses Custody of $41m, Denies Illegal Possesion

    July 21, 2017 9:30 PM 11

    Sequel, to the Federal High Court order of 7 banks to remit $793.2 million (approximately N249.9 billion), Skye Bank affirms being in custody of $41 million (about N12. 9billion) of the total sum. Management of Skye Bank has today, Friday, confirmed being in possession of about $41 millionwhich belongs to the Nigerian Investments Management Services

  • FAAC disburses N2.79trn to FG, states, LGs in H-1 2017

    July 20, 2017 11:10 PM 19

    Previous NBS reports on FAAC disbursements show that the sum of N430.16 billion was shared among the three tiers of government in January 2017; N514.15 billion in February; N466.93 billion in March; N496.39 billion in April; and N418.82 billion in May 2017. An analysis of the disbursements revealed that the sum of N2.79 trillion disbursed so far this year is N540 billion

  • NCC Approves Etisalat's Name Change To 9mobile

    July 19, 2017 2:07 PM 14

    The Nigeria Telecommunications Commission (NCC) has approved Etisalat Nigeria’s name change to 9mobile, after its United Arab Emirates parent company pulled out of its brand name and shares, over the Nigerian unit’s multi-million-dollar debt to a consortium of 13 local banks. The telecoms regulator says the move is to ensure the continuity of Nigeria’s

  • Etisalat Nigeria Officially Confirms Brand Name Change

    July 19, 2017 9:01 AM 25

    1. Of transformations and new identities – 9Mobile has been officially confirmed by EMTS, which formerly traded as Etisalat Nigeria, as its new trading name. (The transformation is already in place, considering the string of promotional messages I received in the past twenty hours, tethered to the new name.) + The re-branding is essentially a placeholder

  • FIRS Generates 1.78Trillion Naira In Six Months On Tax Revenue

    July 19, 2017 2:59 AM 22

    The Federal Inland Revenue Service (FIRS) says it has generated 1.78 trillion naira in tax revenue between January and July this year. The executive chairman at FIRS, Mr. Tunde Fowler, who gave this information while defending the agency’s budget before the Senate Committee on Finance in Abuja, says this represents an increase in tax revenue of 224.14 billion

  • NNPC, Halliburton search for oil in Inland basins

    July 18, 2017 11:05 PM 24

    A new vista has been added to the ongoing search for commercial hydrocarbon in the inland sedimentary basins by the Research and Development Division of the Nigerian National Petroleum Corporation (NNPC), following ongoing collaboration with US based Halliburton Corporation to get the exact location of viable crude oil deposits. Group General Manager

  • Paris Club refund windfall excites labour, ASUU, others

    July 18, 2017 11:04 PM 21

    The organised labour will monitor the application of the N243 billion Paris Club refund released by the Federal Government to the states. Governors must play by the rules, it warns. TOBA AGBOOLA and TONY AKOWE report. THERE was excitement in the camps of the organised labour and some varsity teachers yesterday. It was over the release of N243 billion

  • With N1.7trn in 6 months, FIRS records significant increase in 2017 revenue

    July 18, 2017 10:42 PM 19

    The Federal Inland Revenue Service (FIRS) says it collected a total of N1.782 trillion as tax revenue between January and July 2017. This is even as it has projected a total of N1.8 trillion value added tax (VAT) collection for the 2017 fiscal year. Tunde Fowler, FIRS executive chairman, made this known on Tuesday while presenting the agency’s budget

  • FG releases details of Paris Club refund to 36 states

    July 18, 2017 8:45 PM 21

    The federal government has released a state-by-state breakdown of the second tranche of Paris Club refund. A statement from the ministry of finance said the payments, which totalled N243,795,465,195.20 were made to the 36 states and the federal capital territory upon the approval of President Muhammadu Buhari on May 4, 2017. Akwa-Ibom, Bayelsa, Delta