Fund Managers

The Nigeria’s federal government generated N424.71 billion as Value Added Tax (VAT) in the third quarter (Q3) of 2020, the National Bureau of Statistics (NBS) announced on Monday. According to the NBS, in its “Sectoral Distribution of Value Added Tax Data for Q3 2020”, the new VAT represents an increase …

At least $236.5 million was invested in private equity financing in Africa in September this year. This only includes operations for which the financial conditions were specified at the time of their announcement. This mobilization is the peak of Q3 2020. In July and August, the private equity transactions for …

Following a directive issued by President Muhammadu Buhari during presentation of 2021 appropriation bill to a joint session of the National Assembly, the Office of the Accountant General of the Federation (OAGF) has moved to stop the salaries of university staff not captured under the Integrated Personnel and Payroll Information …

The International Finance Corporation (IFC) said it will invest $25 million in Lorax Capital Partners Fund II, an Egyptian private equity fund, to help local SMEs better cope with the coronavirus fallouts. The investment will improve access to financing for businesses affected by both the health and economic crises caused by …

Nigeria’s President Muhammadu Buhari Thursday presented the 2021 budget to a joint session of the legislatures in Abuja.The budget amounts to N13.08 trillion is anchored on oil benchmark price of $40 per barrel with recurrent expenditure of N5.65 trillion, personnel cost of N3.76 trillion and Debt Service of N3.12 trillion. …

The International Monetary Fund said it had authorised an immediate $1 billion disbursement to Angola under an existing programme on Wednesday, and raised its overall access to funding by $765 million to help it contend with the coronavirus pandemic. The decision of the IMF Executive Board was made after the …

The Executive Chairman, the Federal Inland Revenue Service, FIRS, Muhammad Nami, has disclosed that the service has generated about N490 billion revenue in the month of July. A statement on Thursday by the FIRS spokesman, Abdullahi Ismaila-Ahmad, quoted Mr Nami as making the disclosure during a courtesy call on the …

The United States announced the freezing of $130 million worth of aid to Ethiopia. The measure is to pressure the country as part of the negotiations for the Grand Ethiopian Renaissance Dam (GERD). The Trump administration, which has so far acted as a mediator in this tripartite dispute, wants to pressure …

The Central Bank of Nigeria (CBN) says it has commenced the sales of foreign exchange to the Bureau De Change (BDC) operators in the country. The CBN made this known in a circular signed by Dr Ozoemena Nnaji, Director Trade and Exchange Department, and addressed to authorised dealers and BDC …

FMDQ Securities Exchange has posted 13.66 per cent turnover growth in the Fixed Income and Currency (FIC) for the month of July. FMDQ in a monthly FIC report obtained by the News Agency of Nigeria (NAN) on Wednesday said a turnover of N18.72 trillion was recorded in July. This, according …