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What The Terms T+1, T+2, T+3 Mean & Difference Between Trade and Settlement Date In the financial world, time is money, so when a trade is executed, a day or two is needed to clear the transaction and pass the funds (ownership) from the buyer to the seller. This is where the disparity between the […]

It is often said proverbially that “when it rains, it pours”. So was it on Friday when world markets were routed by the unexpected “Armageddon” that came with UK’s vote to leave the EU. Nigerians will tell you that it is after the race that you count the miles. For Brexit, it does look like […]Read More

Controller General of the Nigeria Customs Service, Col. Hameed Ali, retd, has said Nigeria lost a total of 138.9 billion, representing 35.5% in income generation expected from the agency between January and May, 2016. The development came as the Senate Committee on Finance directed all the revenue generating agencies in the country to henceforth prepare […]

Government’s policies such as the removal of the pioneer status tax incentive, the forex policy and customs duties are discouraging local and foreign investment, the Group Executive Director, Dangote Industries Limited, Mr. Devakumar Edwin, has said. He lamented that government’s policies were rendering manufacturing companies inoperative and making the economy stagnant. Edwin spoke in Lagos […]

The Federal Government has opened discussion with the Australian government on safer mining practice in the country’s solid minerals sector. The Minister of Solid Minerals Development, Dr. Kayode Fayemi, disclosed this after a meeting with the Australian Foreign Affairs Assistant Secretary (African Branch), Matthew Neuhaus, in Abuja, according to a statement. Fayemi said the discussion […]

Nigerians will experience a further reduction in the pump price of Premium Motor Spirit, popularly known as petrol, in the coming weeks as a result of the recently introduced foreign exchange policy by the Central Bank of Nigeria, oil marketers have said. The approved price for petrol is between N135 and N145 per litre. Currently, […]

It is imperative for Africa to utilize the platform provided by digitalization to leapfrog into the future of technology, says Minister of Information and Culture, Alhaji Lai Mohammed. Speaking at the end of the 6th African Digital TV Development Seminar, in Beijing, China, Alhaji Lai Mohammed, said that digital migration in broadcasting is irreversible and […]

The Federal Government has inaugurated a technical committee for the establishment of the Kaduna dry port with a view to de-congesting the country’s seaports. In March this year, the Federal Executive Council approved the establishment of inland container depots in the country and explained that the concept would be run on a public-private partnership, using […]

… Lagos Generates More IGR than 32 States Combined … Rich States: Lagos, Rivers, Delta, Ogun, Edo …Poor States:  Yobe, Zamfara, Ekiti, Borno, Kebbi An investigation by the Economic Confidential has shown that Fifteen States may go bankrupt as their Internally Generated Revenues (IGR) in 2015 were far below 10% of their Federation Account Allocations […]

Ibrahim Magu EFCC Boss Economic and Financial Crimes Commission (EFCC) Chairman Ibrahim Magu  has vowed  that the agency would go after banks being used for the looting of the nation’s treasury and money laundering. He asked the Central Bank of Nigeria (CBN) to stop private banking in the country and pledged the determination of his […]

…Militants demand referendum, want president to visit region President Muhammadu Buhari has offered to personally meet with governors, elders and other stakeholders from the Niger Delta as part of his efforts to seek peace in the region following renewed sabotage of oil and gas pipelines by militants. The President of the Ijaw Youth Council (IYC), […]

…Osinbajo hails ‘incredible’ project Vice President Yemi Osinbajo has described the Dangote Refinery and Petrochemicals as an incredible industrial undertaking. He spoke during a tour of facilities at the site at Ibeju-Lekki in Lagos. Osinbajo, who described the projects as ambitious, noted that the gas pipeline on completion will do about three billion standard cubic […]