Month: March 2017

  • Gov Emmanuel signs N371Bn 2017 Appropriation Bill into Law

    By Joseph INOKOTONG Akwa Ibom State Governor, Mr. Udom Emmanuel has signed the 2017 Appropration Bill of Three hundred and Seventy one Billion Naira (N371Bn), into Law. The amount is Six Billion Naira higher than the N365Bn presented to the state Assembly by Emmanuel late last year. Assenting to the bill in Uyo, Emmanuel expressed…

  • FG Extends Tenure of 2016 Capital Budget

    By Joseph INOKOTONG The Accountant-General of the Federation, Alhaji Idris Ahmed has issued a Circular extending the tenure of the Capital elements of the 2016 Budget until May 5, 2017 or the passage of the 2017 Budget, whichever is the earliest, Minister of Finance, Mrs. Kemi Adeosun has announced. Federal Ministries, Departments and Agencies are…

  • Finance Ministry unveils Management, Board Members of DBN

    By Joseph INOKOTONG The Federal Ministry of Finance on Thursday, announced details of members of the board and management of the newly licensed Development Bank of Nigeria (DBN). The Management team is led by Mr. Tony Okpanachi, a banker and erstwhile Deputy Managing Director/Deputy CEO, Ecobank Nigeria Limited. Prior to his appointment as Managing Director/…

  • Nigeria Priced Its $500M  Notes At 7.5% Yield

    Nigeria Priced Its $500M Notes At 7.5% Yield

    By Joseph INOKOTONG The Federal government Wednesday, announced that it priced its offering of US$500 million aggregate principal amount of notes (the “Notes”) at a yield of 7.5% under its US$1.5 billion (increased from US$1 billion) Global Medium Term Note Programme, which will be consolidated and form a single series with the Republic’s existing US$1,000,000,000…

  • FG Wants Japanese businesses in special economic zones

    FG Wants Japanese businesses in special economic zones

    By Joseph INOKOTONG Japanese companies are invited to take advantage of the various business opportunities that will be presented by the Special Economic Zones being established in various parts of the country. The zones which will serve as manufacturing hubs will have the necessary infrastructural facilities to support the country’s industrialization drive. Budget and National…

  • CBN Approves Licence For DBN

    By Joseph INOKOTONG The Central Bank of Nigeria (CBN), has granted a Wholesale Development Finance Licence to the Development Bank of Nigeria (DBN). The Minister of Finance, Mrs. Kemi Adeosun who confirmed this said t he approval was conveyed in a letter, Wednesday addressed to the Managing Director/Chief Executive of Officer of DBN. The letter…

  • ECA Urges Respect For Human Rights In Free Trade Agreements

    By Joseph INOKOTONG The Economic Commission for Africa (ECA), has counseled that the plight of the people should be paramount, especially human rights when negotiating the continent’s Free Trade Area. David Luke, Director of the African Trade Policy Centre at the Economic Commission for Africa (ECA), said this on Saturday at the launch of the…

  • Media Important To BPE’s Reforms – Akpotaire

    By Joseph INOKOTONG The Acting Director General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire said at an interactive session with the Finance Correspondents Association of Nigerian (FICAN) in Abuja on Thursday that the media is a significant part of the reforms being carried out by the BPE. He said that the…

  • 2016 Budget: Capital Releases hit N1trn Mark

    By Joseph INOKOTONG The Federal government has so far released N1 trillion capital vote from the 2016 budget to Ministries, Departments and Agencies (MDAs) . “This is the highest ever budgetary releases in Nigeria’s annual funding for capital projects,” Minister of Finance, Mrs. Kemi Adeosun has revealed. “So far, N1 trillion has been released on…

  • FAAC January meeting in picture