92-Year-Old Tunisian President Beji Caid Essebsi Dies

Beji Caid Essebsi, the world’s oldest sitting president and Tunisia’s first freely-elected president, has died aged 92, writes BBC. According to Reuters, Essebsi was hospitalised in late June, spending a week undergoing treatment for what authorities described as a severe health crisis. Click here for more.

FAAC Allocates N762.5bn To Three Tiers Of Govt

The Federation Account Allocation Committee on Thursday distributed the sum of N762.59bn to the three tiers of government. The amount which was distributed from the gross revenue generated for the month of June. Click here for more.

Fuel Subsidy Hits N206.6bn In Two Months

Within a space of two months, the amount that was spent by the Nigerian National Petroleum Corporation in subsidising Premium Motor Spirit, popularly known as petrol, rose by over 1,174 per cent; latest figures obtained from the corporation on Thursday have shown. Click here for more.

Nigerians Abroad Remitted $25bn In 2018 – FG

The Federal Government has said Nigerians living abroad remitted $25bn in 2018, representing 83 per cent of the national budget in that year. The amount, it noted, was about 6.1 per cent of the Gross Domestic Product of the country. The Secretary to Government of the Federation, Boss Mustapha, who said this at the 2019 National Diaspora Day celebration. Click here for more.

Onne Port attracts more cargoes with $10m facility upgrade

Fortunes of the Onne Port, Rivers State, has been boosted as the West Africa Container Terminal (WACT), acquired two giant mobile harbour cranes for massive cargo handling. Click here for more.

Ending Fuel Importation Requires Collective Responsibility

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, yesterday said setting up refineries to end the deluge of petroleum importation into the country require the support of its joint venture partners. Click here for more.

Market Maintains Negative Posture As NSEASI Closes Below 28,000bpts

Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.35% to close at 27,990.61 points as against 0.20% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -10.94%. Click here for more.

NSE to enforce VAT on Stock Market transactions

Following the expiration of the Value-Added Tax (VAT) exemption on Stock Exchange transaction commissions, investors and dealing members of the capital market, are now required to pay VAT for transactions carried out on the Nigerian Stock Exchange (NSE). Click here for more.

Currency Circulation Rose To N2.16tn In April – CBN

The apex bank said this in its first quarter report on currency-in-circulation and deposits. This was in contrast to the respective decline of 3.9 per cent and  four per cent at the end of the preceding month and the end of the corresponding period of 2018. Click here for more.

38.5 Million Accounts Now Have BVN Identity – NISS

According to the latest figure obtained from the NISS, the banks witnessed 1.7 million new BVN registrations in the past five months. This represents 31 per cent of the total number of bank accounts, and 53 per cent of the total number of active bank accounts, the Nigerian Interbank Settlement Scheme records have shown. Click here for more.

NDIC Warns Against Adoption Of Crytpocurrencies

The Managing Director, Nigeria Deposit Insurance Corporation Umaru Ibrahim on Thursday called on Nigerians to exercise caution in the adoption of cryptocurrencies as their preferred mode of financial transactions. Click here for more.

TEF Entrepreneurship Forum Begins Today

The 2019 edition of the Tony Elumelu Foundation (TEF) annual Entrepreneurship Forum will commence in Abuja, Friday. The two-day event is the climax of this year’s edition of the entrepreneurship programme for young African entrepreneurs. Click here for more.