Category: Business News

FG Sets Up N500 billion Social Protection Funds says MITI Boss

FG Sets Up N500 billion Social Protection Funds says MITI Boss   very soon over two million traders, farmers and artisans will receive N500 billion micro-credit to be managed by the Bank of Industry (BoI). It is tagged: N500 billion Social Protection Programme for 2016. Speaking at Inaugural fra in Lagos, Minister of Industry, Trade…

Nigeria sets up committee on sukuk

The Federal Government has set up a committee to advise on issuing the country’s first sovereign sukuk, the Securities and Exchange Commission (SEC) said on Thursday, citing the need to explore alternative funding sources. Nigeria plans to borrow as much as $5 billion to help fund a budget deficit worsened by the slump in oil…

Senate seeks privatisation of Lagos National Stadium

Senate seeks privatisation of Lagos National Stadium National Stadium, Lagos The Senate Committee on Youths and Sports has advocated the privatisation of the National Stadium in Lagos if the ministry of sports was not willing to reactivate its operations. The chairman of the committee, Senator Obinna Ogba, stated this on Thursday when the Permanent Secretary…

[Nigeria] FirstBank and Zenith Bank Lead Commercial Banks in Forex Allocation from CBN

First Bank of Nigeria Limited is leading 14 other commercial banks in the utilization of foreign exchange from the Central Bank of Nigeria, CBN. With a total of $25,701,921.17 FirstBank reported the highest amount of forex purchased from the CBN on behalf of its customers. The allocations ranged from fuel, machinery and pharmaceuticals imports, all the…