1.
Nigeria has been estimated to have realised about $40 billion from crude oil exports in the first half of this year, according to the Organisation of Petroleum Exporting Countries (OPEC). The 12-nation member organisation, in its revenue fact sheet, however stated that the oil giant of Africa had net earnings of about $84 billion in 2013.
2. The Bank of Industry (BOI) has stated that it is currently in talks with the Federal Ministry of Agriculture and Rural Development, to
provide a N13 billion rice intervention fund to boost rice production in the country, reports THISDAY.
3.Worried by the huge amount of money involved, the
Senate has moved to keep revenue in the country by passing a bill titled Nigeria Automotive Industry Development Plan ( Fiscal Incentives, assurance and guarantees) Bill through second reading, a stage which is very critical to the survival of any legislative proposal.
4. The Central Bank of Nigeria
(CBN) has refunded over N17 billion to customers in fraudulent charges by banks as at last month. Its Head of Consumer Protection Department, Hajia Khadijah Kassim, told reporters in Calabar, the Cross River State capital, yesterday, that the refund followed about 5,500 complaints against the banks by customers.
5. The Minister of Water Resources,
Mrs. Sarah Ochekpe recently stated that ongoing water sector reforms by the Federal Government will improve service delivery. She said: “Our desire is that Nigerians should have 100 per cent access to water supply. “And those projects that we are constructing will be properly completed and put into effective use and I believe that with God on our side, we will surely succeed.”
6.
A consortium of foreign financial institutions has generated a total of $400 million to construct a 260-megawatt power plant to be located in Ewekoro, Ogun State. Lafarge Nigeria Limited, the cement manufacturing company, is the lead arranger of the deal, which also includes the International Finance Corporation, IFC, a subsidiary of the World Bank; Wartsila-Development; and Financial Services Company based in Finland.
7. The
Central Bank of Nigeria (CBN) has said that electronic payment channels so far are recording enormous growth with total transfers on the platform grossing N10.85 trillion in 2013.
8. The
Federal Government could earn as much as N127 billion annually if the bill on cassava bread is signed into law by the National Assembly. The Director General of Federal Institute of Industrial Research Oshodi (FIIRO), Dr. (Mrs.) Gloria Elemo, recently said that government will not only save this huge amount of money in foreign exchange, but will also create 5000 SMEs to produce 1.2 million tones of high quality cassava flour demand estimate by the flour milling industry at 20 percent inclusion level.
9.
Sterling Bank Plc. has said it recorded a deposit of N2 billion through its new initiative, Third Party Acquirer (3PA) scheme between January and June 2014, barely six months after it was introduced. The bank says it has put in place the necessary structure to meet up with a target deposit of N8.5 billion by the end of the year.
10.
Financial Access Capital Partners B.V. and Management Transformation Limited have entered into partnership with the aim of developing an efficient and inclusive banking sector in Nigeria, Ghana and potentially, other African markets.
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This article was first published on 23rd September 2014
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1.Nigeria has been estimated to have realised about $40 billion from crude oil exports in the first half of this year, according to the Organisation of Petroleum Exporting Countries (OPEC). The 12-nation member organisation, in its revenue fact sheet, however stated that the oil giant of Africa had net earnings of about $84 billion in 2013.
2. The Bank of Industry (BOI) has stated that it is currently in talks with the Federal Ministry of Agriculture and Rural Development, to provide a N13 billion rice intervention fund to boost rice production in the country, reports THISDAY.
3.Worried by the huge amount of money involved, the Senate has moved to keep revenue in the country by passing a bill titled Nigeria Automotive Industry Development Plan ( Fiscal Incentives, assurance and guarantees) Bill through second reading, a stage which is very critical to the survival of any legislative proposal.
4. The Central Bank of Nigeria (CBN) has refunded over N17 billion to customers in fraudulent charges by banks as at last month. Its Head of Consumer Protection Department, Hajia Khadijah Kassim, told reporters in Calabar, the Cross River State capital, yesterday, that the refund followed about 5,500 complaints against the banks by customers.
5. The Minister of Water Resources, Mrs. Sarah Ochekpe recently stated that ongoing water sector reforms by the Federal Government will improve service delivery. She said: “Our desire is that Nigerians should have 100 per cent access to water supply. “And those projects that we are constructing will be properly completed and put into effective use and I believe that with God on our side, we will surely succeed.”
6. A consortium of foreign financial institutions has generated a total of $400 million to construct a 260-megawatt power plant to be located in Ewekoro, Ogun State. Lafarge Nigeria Limited, the cement manufacturing company, is the lead arranger of the deal, which also includes the International Finance Corporation, IFC, a subsidiary of the World Bank; Wartsila-Development; and Financial Services Company based in Finland.
7. The Central Bank of Nigeria (CBN) has said that electronic payment channels so far are recording enormous growth with total transfers on the platform grossing N10.85 trillion in 2013.
8. The Federal Government could earn as much as N127 billion annually if the bill on cassava bread is signed into law by the National Assembly. The Director General of Federal Institute of Industrial Research Oshodi (FIIRO), Dr. (Mrs.) Gloria Elemo, recently said that government will not only save this huge amount of money in foreign exchange, but will also create 5000 SMEs to produce 1.2 million tones of high quality cassava flour demand estimate by the flour milling industry at 20 percent inclusion level.
9. Sterling Bank Plc. has said it recorded a deposit of N2 billion through its new initiative, Third Party Acquirer (3PA) scheme between January and June 2014, barely six months after it was introduced. The bank says it has put in place the necessary structure to meet up with a target deposit of N8.5 billion by the end of the year.
10. Financial Access Capital Partners B.V. and Management Transformation Limited have entered into partnership with the aim of developing an efficient and inclusive banking sector in Nigeria, Ghana and potentially, other African markets.
