Federal – Page 155 – City Business News

September 5, 2016 No Responses

FG faults US Congressman’s report on Nigeria

The Federal Government has described as ‘sadly out of tune with reality’ the published letter from US Congressman Tom Marino to Secretary of State John Kerry, asking the US to withhold security assistance to Nigeria on the strength of ‘some...

September 4, 2016 No Responses

‘Foreigners can now invest in T-Bills, others’

The Central Bank of Nigeria (CBN) has unveiled new guidelines which empowers foreigners to invest in short-term debts and securities. Under the arrangement, foreigners can now invest in Treasury Bills (T-Bills), Federal Government Bonds, certificates ...

September 3, 2016 No Responses

Auto policy proposed review ignites fresh controversy

The resolve by the Federal Government to review ‘some aspect’ of the automotive policy is generating anxiety among investors and stakeholders in the sector. The technical committee on the review under the chairmanship of Director General of Nationa...

September 3, 2016 No Responses

Apapa Customs generates N35Billion in August

For the month of August, 2016, the Apapa Command of Nigeria Customs Service (NCS) generated N34.9 Billion revenue, about N8 Billion higher than the N27 Billion realised in July. According to the command, the collection is the highest monthly...

September 2, 2016 No Responses

NECA blames recession on inadequate policies

The Nigerian Employers Consultative Association of Nigeria (NECA) has blamed Nigeria’s ongoing economic challenges on inadequate policy direction on the part of the present administration. President of NECA, Mr Larry Ettah, in his address at the Associati...

September 2, 2016 No Responses

Elumelu seeks stronger business tiers between Africa, France

The chairman of Heirs Holdings and United Bank for Africa (UBA), Tony Elumelu has called for stronger business relationship between Africa and France. Speaking at the MEDEF Summer University Forum in Paris , Elumelu who is also founder of...

September 2, 2016 No Responses

FG to partner Northern States on revival of Durbar Festival

The Federal Government is to work with the states in Northern Nigeria to revive the Durbar Festival because of its huge potential to showcase the pristine African culture and also create jobs. The Minister of Information and Culture, Alhaji Lai Mohammed,...

September 2, 2016 No Responses

No going back on new minimum wage, says NLC

The Nigeria Labour Congress (NLC) yesterday called on the Federal Government to reconstitute the tripartite committee to negotiate a new minimum wage in view of the current economic recession facing the country. Speaking at 59th Annual General Meeting, NL...

September 1, 2016 No Responses

Airtel, Nestle CEOs list modalities for improved GDP

The critical role of private sector in the development of Nigeria’s economy took the centre stage on Wednesday at the second edition of Nigerian Stock Exchange (NSE) Chief Executive Officers (CEOs) roundtable discussions in Lagos. Some Chief Executive Off...

September 1, 2016 No Responses

Nigeria’s GDP Contracts 2.06% as NBS confirms recession

The National Bureau of Statistics (NBS) confirmed on Wednesday that Nigeria has entered the recession bracket. The situation is further compounded as the country continues to records job losses occasioned by sustained drop in the price of crude oil...

August 31, 2016 No Responses

FG seeks cultural tiers with Sudan

The Minister of Information and Culture, Alhaji Lai Mohammed, has called for the strengthening of bilateral ties between Nigeria and Sudan in the areas of cultural/creative industry and digital economy in order to boost the efforts of the two countries...

August 31, 2016 No Responses

CBN approves 11 international money transfer operators

The Central bank of Nigeria (CBN) has licensed 11 new international money transfer operators (IMTOs) to do business in the country’s foreign exchange market. A statement issued by CBN spokesperson Isaac Okorafor, explained that the licensing was in further...

August 31, 2016 No Responses

Nigeria, Britain seal MoU on stolen funds

A Memorandum of Understanding (MoU) on modalities for the repatriation of Nigeria’s stolen assets has been signed by Nigeria and British Government The Attorney-General of the Federation, Abubakar Malami, who signed onbehalf of Nigeria explained that the ...

August 31, 2016 No Responses

FG to award Lagos-Ibadan railway contract

The Federal Government has concluded plans to award the contract for the construction of Lagos-Ibadan railway contract. According to the Minister of Transport, Rotimi Amaechi, plans are also underway to sign the contracts for Kano-Kaduna and Calabar-Port Har...