NIGERIA: LAST WEEK BY THE NUMBERS…

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  • Central Bank of Nigeria: Nigeria’s foreign reserves have risen to $41 billion as at February 8, 2018, from $40.4 billion as at early January 2018.
  • Ministry of Finance: Nigeria is set to issue a US$2.5 billion Eurobond; a follow-up to the US$3bn Issuance in late 2017. Transaction Advisers have been appointed for the Issuance.
  • The Nigerian Ports Authority: The Nigerian Ports Authority has declared total revenue of N299.56bn for the 2017 fiscal year. The 2017 revenue exceeded the previous year’s N162.20bn by 84.65 percent and is the highest ever generated by the agency.
  • From the Ministry of Finance: The Ministry of Finance has so far released N1.2 trillion under the capital expenditure component of the 2017 Budget — which took effect from June 2017. In terms of capital spending, the 2017 Budget is on course to eclipse the 1.3 Trillion Naira released in the 2016 Budget — the highest ever in Nigeria’s history.
  • Economic and Financial Crimes Commission (EFCC): The Commission recovered in excess of 500 billion Naira in 2017, including 473 billion in Naira, 98 million in USD, 7 million in Euros, and 294,000 in Pounds Sterling.
  • Ministry of Finance: Forty-seven (47 days) until the end of the Voluntary Assets and Income Declaration Scheme (VAIDS) Tax Amnesty Window. Avoid investigation and prosecution for tax offences by taking advantage of VAIDS today: https://vaids.gov.ng

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