Business

Banks To Meet Over Court Order On BVN

Banks To Meet Over Court Order On BVN

Business October 23, 2017 at 11:30 am 0 comments

Company secretaries and legal teams of 19 Deposit Money Banks in the country will on Tuesday hold an emergency meeting to fashion out modalities to comply with a court order directing commercial banks to freeze bank accounts without the Bank Verification Number

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Court Orders CBN, Banks To Freeze Accounts Without BVN

Court Orders CBN, Banks To Freeze Accounts Without BVN

Business October 22, 2017 at 10:24 am 0 comments

The Federal High Court in Abuja has ordered the Central Bank of Nigeria and the 19 commercial banks in the country to disclose all accounts in their custody and the balances in such accounts.
The court ordered the banks to disclose the details of all such accounts, their owners and

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N246.30 Billion Generated As VAT In Q2 — NBS

N246.30 Billion Generated As VAT In Q2 — NBS

Business October 21, 2017 at 11:23 am 0 comments

The National Bureau of Statistics (NBS) says that N246.30 billion was generated as Value Added Tax (VAT) in the second quarter of the year.
The bureau gave the figure in its `Sectoral Distribution of Value Added Tax’’ for the Second Quarter released on Friday in Abuja.
It stated that the

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Average Price For Petrol Drops, Kerosene Increases – NBS

Average Price For Petrol Drops, Kerosene Increases – NBS

Business October 20, 2017 at 5:46 pm 0 comments

The average price paid by consumers for Premium Motor Spirit, petrol, dropped by 1.2 per cent year-on-year, the Nigeria Bureau of Statistics, NBS, has said
According to a report on the NBS website, the bureau also listed states with the highest and lowest average price of petrol in comparison with

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External Borrowing May Cost 30 Years To Repay – FG

External Borrowing May Cost 30 Years To Repay – FG

Business October 20, 2017 at 11:24 am 0 comments

The Federal Government has said its external borrowing plan, for which it is seeking the approval of the National Assembly, will take Nigeria between five years and 30 years to repay.
The government also insisted it would have to borrow more to complete a number of ongoing infrastructural projects.

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Buhari Sends 2018-2020 MTEF To Senate

Buhari Sends 2018-2020 MTEF To Senate

Business October 19, 2017 at 1:28 pm 0 comments

President Muhammadu Buhari has sent the 2018-2020 Medium-Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, to the Senate.
The submission of the documents usually precedes the presentation of the budget estimates to the National Assembly.
In a letter read by the Senate President, Bukola Saraki, on Thursday, the President

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