A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
The Senate on Wednesday approved $1.5billion and €995million external loan requests from President Mohammadu Buhari. The approval was sequel to the consideration of the report of the Senate Committee on Local and Foreign Debts presented by its Chairman, Sen. Clifford Ordia (PDP-Edo) during plenary. The president had in May 2020 sent a letter to the
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By Fortune Eromosele A mortgage lender firm, Infinity Trust Mortgage Bank Plc, ITMB, has said it recorded notable growth in various aspects of its operations in spite of COVID-19 constraints on businesses in Nigeria. The Managing Director and Chief Executive Officer of ITMB, Dr Olabanjo Obaleye said the growth does not benefit the bank alone,
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By James Ogunnaike – Abeokuta Ogun state government has cleared the air on domestic debt owed by the state, saying the figures given to it by the immediate past administration led by Senator Ibikunle Amosun did not capture the entire liabilities it left behind. The government said not lesser than N50billion in financial liabilities were
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By Elizabeth Adegbesan The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has advised the government to tie its borrowings to specific projects in order to boost infrastructure development in the country. The Institute also enjoined the federal government to provide incentives to boost local production of petroleum products in order to secure the
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The Minister of Transportation, Rotimi Amaechi, has said the Federal Government borrowed about $2.5 billion for the construction of the Lagos-Ibadan rail line. Amaechi, who stated this in an interview on Channels Television’s Newsnight on Monday night, said: “If you look at the whole total cost, it will be $2.5 to $2.6 billion that we have borrowed from China Exim Bank.”
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By Emma Ujah, Abuja The Central Bank of Nigeria (CBN) has released the list of 47 International Money Transfer Operators (IMYOs) approved to receive foreign exchange remittances from Diaspora Nigerians. According to the list posted on the bank’s website today, 17 of the IMTOs were based in the United Kingdom; 14 in Lagos; eight in
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By Godwin Emefiele I would like to thank the organisers for identifying a very topical theme. As we are all aware remittances from Nigerians living abroad has had a significant benefit on domestic income, social welfare and economic growth in Nigeria. Given the depth of skills that Nigerians in the diaspora possess, an effective engagement,
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Scarred by the death of his mother, 36-year-old Prince Harry has struggled in the royal limelight for much of his life, and his fears for wife Meghan have now put him at loggerheads with his family. The younger son of the heir to the throne, Prince Charles, and the late Diana, princess of Wales, Harry
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By Johnbosco Agbakwuru – Abuja The federal government (FG) has said it will borrow more money to fund critical infrastructure, saying Nigeria would not make any meaningful headway in its quest for development if it doesn’t borrow more. Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said this, Thursday,at a maiden special media
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The Federation Accounts Allocation Committee (FAAC) has shared N640.310 billion to the three tiers of government for January. Mr Hassan Dodo, the Director of Information, Ministry of Finance, Budget and National Planning, said this was made known in a communique issued at the end of a virtual conference of FAAC on Thursday. The committee in
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