Category: Business News

NCC audits telecom firms’ financial status

The Nigerian Communications Commission has commenced a financial health check on major telecommunications operators in the country. The commission’s Executive Commissioner, Mr. Sunday Dare, stated this on Tuesday during a corporate governance executive workshop organised by the regulator in Lagos. He said that the NCC embarked on the exercise to find out the credit and…

Nigerian government to auction N135bn bonds on August 23rd – DMOThe Federal Government has offered for subscription by auction, N135 billion bonds in its Aug. 23 auction, according to the Debt Management Office (DMO).  The offering circular obtained from the DMO’s website indicates that it would sell N35 billion of a bond, to mature in July, 2021, at 14.50 per cent.  It would also sell N50 billion at 16.28 per cent to mature in March 2027, while another N50 billion of paper would be sold at 16.24 per cent, to mature in April 2037.  All the bonds on offer are reopening of previous issues, the circular said.  Nigeria issues sovereign bonds monthly to support the local bond market.  It also created a benchmark for corporate issuance to fund its budget deficit.

The Federal Government has offered for subscription by auction, N135 billion bonds in its Aug. 23 auction, according to the Debt Management Office (DMO). The offering circular obtained from the DMO’s website indicates that it would sell N35 billion of a bond, to mature in July, 2021, at 14.50 per cent. It would also sell…

FIRS, JTB share data of high-income earners

The Joint Tax Board and the Federal Inland Revenue Service have started sharing data of high net worth individuals to profile income earners and taxpayers in order to get them pay appropriate taxes. Twelve states have signed the Memorandum of Understanding under the Voluntary Assets and Income Declaration Scheme. The JTB also announced that it…