Some federal government agencies now operate bank accounts in violation of the Treasury Single Account (TSA). The TSA is a bank account or a set of linked accounts through which the government transacts all its receipts and payments. Under the TSA, all government payments for services and revenue collections are operated through one account known as Consolidated Revenue Fund/Treasury Single Account (CRF/TSA) domiciled with the Central Bank of Nigeria (CBN). Going by the TSA regulations, ministries, departments and agencies under the federal government are not allowed to open or operate any bank account.

Lafarge Africa Plc has declared N13.66 billion dividends, which translates to 300kobo per share and bonus issue of one new share for every 10 previously held by shareholders for the year ended December 31, 2015. The company stated that it expects its installed capacity to rise to 14.1 million metric tons per annum with the completion of 2.5mm tons plant lines in one of its subsidiaries, United Cement Company of Nigeria, Unicem, Limited.

The Central Bank of Nigeria (CBN) on Friday reported that economic activities declined faster in June, confirming that the nation’s economy formally entered into recession in the second quarter of the year. Economic recession is a period of general decline in economic activities and it is typically defined as a decline in GDP for two or more consecutive quarters. Nigeria’s economy contracted in the first quarter of the year, as it recorded negative Gross Domestic Product (GDP) during the quarter. According to the National Bureau of Statistics the nation’s GDP in Q1 2016 contracted by 0.36 per cent, the first negative growth in many years.

Former first lady of Old Anambra State, Chief Caroline Onoh, Bianca Ojukwu’s mother, would be laid to rest on August 5, 2016.

The former Governor of Anambra State, Mr. Peter Obi has urged Nigerians to avoid peddling falsehoods,which are injurious to individuals, institutions and society at large – especially in this trying period of the nation’s development. He made this observation yesterday while interacting with some journalists in Lagos.