The federal government has accused Switzerland of “robbing” Nigeria in the course of recovering funds looted from the country. Nigeria recently signed an agreement with Switzerland for the release of $322 million said to have been stolen by Sani Abacha, former military head of state. This is
BUSINESS
The Federal Government has secured a $500 million loan facility from the Export Import Bank of China (CEXIM), through the Bank of Industry (BoI), to establish modular refineries and implement the Flare Gas Recovery Programme. The establishment of modular refineries is part of the federal government’s strategy for ending importation of petroleum products and discouraging
Nigeria’s apex bank, the Central Bank of Nigeria (CBN) is to auction treasury bills worth N1.024 trillion in the fourth quarter of this year in a bid to mob up excess liquidity in the economy The central bank stated this in its Nigerian Treasury Bills Issue programme for the fourth quarter of the year posted on its website. According to […]
The Central Bank of Nigeria has debited the four banks it sanctioned over the breaching of its capital importation policy of N5.87 billion. The banks affected are Standard Chartered Bank, N2.4 billion; Stanbic IBTC, N1.88 billion; Citibank Nigeria, N1.2 billion; and Diamond Bank, N250 million. The banks were accused by the CBN of issuing irregular […]
President Muhammadu Buhari thursday in Beijing, China, was given assurances from the joint venture partners handling the 3,050 megawatts Mambilla Hydro-electric power plant that all processes leading to its take-off next year would soon be completed. A statement by the presidential spokesman, Malam Garba Shehu, said at the meeting in Beijing with the President of […]
The Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, said on Thursday that the government would sell properties built and developed in corporate names across the country on which taxes were not being paid. Fowler disclosed this in Lagos at a stakeholders’ meeting, where he noted that the country still had one of the […]
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