Finance articles

World’s first ATM marks 50th ‘birthday’

World’s first ATM marks 50th ‘birthday’

The world’s first Automated Teller Machine, a technology which brought transformation in the way people obtain and use cash, on Tuesday clocked 50 years. According to the Metro, the world’s first ATM was unveiled by Barclays at its Enfield branch in North London on June 27, 1967. As a tribute to the golden anniversary, Barclays

Bayelsa seals off NDDC over N336.17m tax default

The Bayelsa State Board of Internal Revenue, on Friday, sealed off the Yenagoa office of the Niger Delta Development Commission, over an alleged tax default of N336.17m. It was learnt that the intervention agency in the region is allegedly owing the state government since 2014. The enforcement team of BIR, with the full complement of

NNPC completes refund of N450 billion to Nigerian govt, states, LGs – Adeosun

The Nigeria National Petroleum Corporation, NNPC, has completed the refund of N450 billion to the federation account, to be shared among the federal, states and local governments. The Permanent Secretary, Ministry of Finance, Mahmoud Isa-Dutse, made the statement on Thursday in Abuja at the monthly meeting of Federal Accounts Allocation Committee (FAAC). Mr. Isa-Dutse, who

No plan to take over Etisalat, consortium insists

Strong indications emerged on Wednesday that the consortium of banks being owed N541 billion by Etisalat Nigeria has no intention of taking over ownership of the telecoms network. Some media reports had indicated that the consortium, led by Access Bank, had moved to take over the telecoms following the collapse of Emerging Markets Telecommunications Services,

Fuel marketers demand payment of outstanding subsidy claims

The Major Oil Marketers Association of Nigeria (MOMAN) has appealed to the Federal Government to pay the outstanding fuel subsidy claims to its members to pay back their bank loans. The Executive Secretary of the Association, Mr Obafemi Olawore, made the plea in an interview with the News Agency of Nigeria (NAN) on Wednesday in

Etisalat Writes Staff, Assures Them After Takeover

Nigeria sought to reassure its apparently distraught workers Tuesday after talks with its lenders broke down, leading to the telecoms company being taken over by banks. In a message to all staff of the company, the Chief Executive of Etisalat Nigeria, Mathew Willsher, acknowledged the challenging business outlook for the company in the wake of

FG To Release N350bn For Capital Projects

The Federal Government plans to release a total of 350 billion Naira for capital projects across the country. Speaking at the public presentation of the 2017 Appropriation Act in Abuja, the Minister of Finance, Mrs Kemi Adeosun said this will address the infrastructural needs in the country.   Mrs Adeosun also said other capital releases