IN THE ANALYSIS
The week ahead – Reloaded
Unclaimed dividends and bank account balances unattended for at least six years will be available as special credit to the federal government through the Unclaimed Funds Trust Fund. According to the Finance Act 2020 recently signed into law by President Muhammadu Buhari, the trust fund will be a sub-fund of the Crisis Intervention Fund. The act exempts official bank accounts owned by the FG, state or local governments or any of their ministries, departments or agencies. According to the act, the monies transferred to the trust fund will be a “special debt owed by the federal government to shareholders and dormant bank account holders”. It also states that the original owners of the money can claim it at any time. The operation of the trust fund will be supervised by the Debt Management Office (DMO) and governed by a governing council chaired by the finance minister and a co-chairperson from the private sector appointed by the president. This move will make needed funds available to the federal government without foreign exchange worries or conditions attached to loans from multilateral lenders. Other members of the governing council shall include the governor of the Central Bank of Nigeria, director-general of the Securities ...
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ANALYSIS
Unclaimed dividends and bank account balances unattended for at least ...
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Despite the dependence on crude oil for economic sustainability, agriculture ...
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The Year Ahead – Light at the end of the tunnel
The year 2020 has been very eventful. It began with ...
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The Chairman of the Nigeria Governors Forum, Kayode Fayemi says ...
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Scorecard – assessing our 2020 predictions
Like a good action movie, 2020 never quite let up ...
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The week ahead – Key in the lagoon
Villagers in Borno on Sunday buried 43 farmers killed in ...
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Under attack: The travails of the Nigerian Police
On Wednesday, 23 October 2020, Gabriel Igwe, who worked as ...
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The week ahead – Slowly listing to one side
The Chairman of the Board of the Nigerian Economic Summit ...
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Video: FRSC officers need better training, not guns
Recent moves to give road safety officials guns is a ...
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The week ahead – Right of conquest
The Kogi state government has contracted a consultant to collect ...
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Burkina Faso, Nigeria, South Sudan and Yemen are expected to ...
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Video: The failure of peace deals in Nigeria
Nigeria has entered into peace deals with various armed groups ...
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Analysis: What can Nigeria expect from President Biden?
Africa has been on the short end of the stick ...
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The Lekki Concession Company, operators of the Lekki Toll Gate, ...
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Video: Soldiers fighting Boko Haram have reached breaking point
In the past few years, the Nigerian Army has witnessed ...
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The week ahead – Out of control
President Muhammadu Buhari finally addressed Nigerians last night after up ...
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The SBM Jollof Index: Acceleration
According to Nigeria’s National Bureau of Statistics (NBS), 51.3% of ...
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The week ahead – Target practice
The Inspector-General of Police, Mohammed Adamu, has set up the ...
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The economics of police brutality in Nigeria
During the COVID-19-induced-interstate travel ban, a Premium Times reporter counted ...
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The Petroleum Industry Bill (PIB), which passed its first reading ...
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