Finance articles

Senate, House pass 2018 budget, raise spending to N9.1 trillion

Senate, House pass 2018 budget, raise spending to N9.1 trillion

The Senate and the House of Representatives have passed the 2018 budget, raising it by N500 billion. Both Houses on Wednesday approved a budget that rose from N8.6 trillion to N9.1 trillion, six months after it was presented by the executive. President Muhammadu Buhari presented the budget to a joint session of the National Assembly

UTILIZATION OF RETURNED LOOT: ANEEJ applauds Buhari for including CSOs

The Africa Network for Environment & Economic Justice, ANEEJ, has applauded the plan by the Buhari administration to expend the $320million loot returned from Switzerland to Nigeria on the poorest of the poor through a conditional Cash Transfer Programme. In a statement released to the media after 8th Commonwealth Conference on Anti-Corruption, organized by the

SEC restates commitment to ensuring fairness and transparency in Capital Market transactions

The Securities and Exchange Commission (SEC) has restated its determination to ensure that every shareholder is fairly, equitably and similarly treated and given sufficient information regarding transactions in the capital market. Acting Director General of SEC, Ms. Mary Uduk stated this while delivering a keynote address at the 1st Annual Seminar of the Committee on

Oando shareholders want Adeosun sacked

Some Oando Plc shareholders on Sunday demanded the immediate sack of the Minister of Finance, Kemi Adeosun, accusing her of “unwholesome interference in the smooth operation of the capital market.” The aggrieved investors also accused Mrs Adeosun of meddling with the functions of the Securities & Exchange Commission (SEC), causing “severe damage to the capital

Gwarzo, it’s time to face your allegations

By Chikwelu Chukwujindum There is no doubt that one of the biggest drawbacks to national development particularly in African countries south of the Sahara is the reckless and bare-faced conversion of public funds and property to personal use by public officials. In Nigeria, Africa’s most populous nations, the challenge of rising to its full potential

FG appoints Abdul Zubair acting SEC DG

The Federal Government of Nigeria has appointed Dr. Abdul Zubair, the acting Director General of the Securities and Exchange Commission (SEC) with immediate effect. He was before the appointment, the Director in charge of External Relations in the Commission. In view of the foregoing, the SEC Nigeria, wishes to assure the investing public and all

Capital Market Operators urged to adapt to new business environment – Mounir Gwarzo, SEC DG.

The Director General of the Securities and Exchange Commission, Mr. Mounir Gwarzo has urged capital market participants to constantly adapt to new and rapidly changing economic, regulatory and business environments which will aid them in performing their expected roles in economic development of the nation. He mentioned this during his opening remarks at the 21st

Buhari asked us to focus on northern Nigeria — World Bank

The President of the World Bank Group, Jim Yong Kim, said on Thursday that the bank had concentrated on the northern region of Nigeria in line with President Muhammadu Buhari’s request. Kim and the Managing Director, International Monetary Fund, Christine Lagarde, who spoke at separate press conferences in Washington DC, United States, also advised Buhari