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Latest News Fashola dragged to EFCC over alleged diversion of $600m power fund Buhari acting like Abacha: Obasanjo •Tells him to go home and rest Religious leaders warn against impending popular revolt, call for greater citizen action to check drift FG releases N9bn to pay arrears of scholarship allowances Troops kill Boko Haram insurgents, rescue 2 aged women Scrap security votes, immunity if you win 2019 polls, SERAP tells Buhari, Atiku, others 2 pro-Biafra groups fight over 2019 polls Nigerian Army seeks strategic military partnership in counter-terrorism operations as COAS visits the Korea Self determination groups warn Buhari against double standards, provocation Stella Oduah unfolds plans for ICT mall to boost N6.4bn Onitsha market turnover Alaba traders move against substandard goods Another Nigerian tortured to death in South Africa

 

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Stella Oduah unfolds plans for ICT mall to boost N6.4bn Onitsha market turnover

Stella Oduah unfolds plans for ICT mall to boost N6.4bn Onitsha market turnover Senator Stella Oduah has said that she would build an Information and Communication Technology Mall in Onitsha that will boost the N6.4 billion turnover of the Market. In an interview with the News Agency of Nigeria (NAN) on Sunday, the Senator who represents Anambra North in the Senate, said that the...... more

Alaba traders move against substandard goods

Alaba traders move against substandard goods The Alaba International Market Association has embarked on a raid to rid the market of substandard electronic products. The Public Relations Officer of the association, Mr Eugene Obiezu, said that the exercise was aimed at curbing the inflow of substandard goods to the market. According to Obiezu, the association is poised...... more

CBN assures of Forex for indigenous companies

CBN assures of Forex for indigenous companies The Central Bank of Nigeria (CBN) has reiterated its readiness to facilitate access to foreign exchange by Nigerian companies that wanted to import equipments to ease business growth in the country. The CBN Governor, Mr Godwin Emefiele, said this on Sunday during an inspection of Dangote Refinery in Lagos. The refinery...... more

NNPC strikes $8.441bn Joint Venture deals with SEEPCO, Shell, Agip, others to develop oil leases, boost gas production

NNPC strikes $8.441bn Joint Venture deals with SEEPCO, Shell, Agip, others to develop oil leases, boost gas production In an effort to further consolidate the revenue profile of the Nigeria National Petroleum Corporation (NNPC), the Group Managing Director (GMD) Dr. Maikanti Baru and his management team have taken audacious steps to double investments base of the Corporation. In the last 12 months, the state-owned oil company under Baru and...... more

PenCom to attract 60m enrolees, N3trn growth

PenCom to attract 60m enrolees, N3trn growth The National Pension Commission (PenCom) is set to attract 60 million Nigerians in the informal sector to the pension scheme and hit N3 trillion assets growth. PenCom said the extension of the pension scheme to the informal sector was to ensure that all Nigerians have a good life at old age....... more

Active telecom subscribers in Nigeria over 172m: NCC

Active telecom subscribers in Nigeria over 172m: NCC The Nigerian Communications Commission (NCC) says there were 172,871,094 active subscribers on the telecommunication networks in December 2018, as against 169,104,830 recorded in November 2018. The telecommunications regulator disclosed this in its Monthly Subscriber/Operator Data made available on its website on Saturday. The News Agency of Nigeria (NAN) reports that the...... more

How Konga is bridging e-Commerce gap for millions of unreached, under-served Nigerians

How Konga is bridging e-Commerce gap for millions of unreached, under-served Nigerians For a population of over 190 million, it is perhaps shocking to countenance the fact that about 70% of Nigerians – a whopping 130 million – are still skeptical of shopping online and yet to be captured in the e-Commerce net – an anomaly that Konga’s futuristic business model is gradually...... more

Konga, Visa partner to drive value offerings in e-commerce sector

Konga, Visa partner to drive value offerings in e-commerce sector E-commerce giant Konga has partnered with Visa, the world’s leader in digital payments to revolutionize the e-commerce sector in Nigeria. By leveraging the delivery of digital and secure payments solutions across key segments of the Konga Group’s business portfolio, the strategic partnership is positioned to drive greater efficiency in the sector....... more

CBN spurs access to banking services

CBN spurs access to banking services The Central Bank of Nigeria (CBN) has rolled out measures to ensure that at least 80 per cent of Nigerians have access to banking and other financial services. The apex bank also on Thursday released new policy frameworks on consumer protection, financial literacy and financial education. The bank unveiled measures in...... more

First Bank targets single NPL ratio by year end

First Bank targets single NPL ratio by year end The management of First Bank Nigeria is working tirelessly to ensure that the non-performing loan (NPL) ratio of the company is cut from double-digits to a single digit. Managing Director/CEO of First Bank, Mr Adesola Adeduntan, in an interview, said the company plans to achieve this goal by the end of...... more

Ekeh inspires thousands at RCCG Summit

Ekeh inspires thousands at RCCG Summit Serial digital entrepreneur and Chairman, Zinox Group, Leo Stan Ekeh, has called on Nigerians to believe in the future of the country, noting that the world is currently in a knowledge century in which there are no barriers to wealth acquisition or achieving greatness. He made this call at an economic...... more

Atiku says committed to privatising NNPC

Atiku says committed to privatising NNPC The presidential candidate for Nigeria’s main opposition party said on Wednesday he was committed to privatising the state oil company, weeks ahead of the election that will determine who runs Africa’s top crude-producing country. Atiku Abubakar had stated in his manifesto that he intends to break up the Nigerian National Petroleum...... more

PEF set to track petrol consumption

PEF set to track petrol consumption The Petroleum Equalisation Fund (PEF) says its Sensor Monitoring  Project will help to track the exact quantity of Premium Motor Spirit  (PMS) also known as fuel consumed in the country. The PEF Executive Secretary Alhaji Ahmed Bobboi disclosed this while addressing newsmen, on Tuesday in Abuja. He said that the adoption...... more

CBN, SEC okay takeover of Diamond Bank by Access Bank

CBN, SEC okay takeover of Diamond Bank by Access Bank Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on proposed merger plans. Mr Victor Etuokwu, Access Bank Executive Director, Personal Banking, said in Lagos that CBN and SEC had granted both banks approval in...... more

Stakeholders converge in Abuja for Financial Literacy Confab

Stakeholders converge in Abuja for Financial Literacy Confab National Financial inclusion stakeholders in Nigeria, led by the Central Bank of Nigeria (CBN), will converge in Abuja on Thursday, January 17 and Friday, January 18, 2019, for the launch of key policy documents aimed at facilitating the attainment of the financial inclusion target of 80 per cent by 2020. Policy...... more

Mines, Steel Ministry generates N2.97 billion in 2018 — Minister

Mines, Steel Ministry generates N2.97 billion in 2018 — Minister Alhaji Abubakar Bwari, the Minister of State,  Mines and Steel Development, says the ministry generated  the sum of N2.97 billion as revenue  in 2018 . Bwari announced this while giving a three-year account of stewardship (2016-2018) on Monday in Abuja. He said  that the overall revenue generated  by the ministry from royalties...... more

Air Peace to commence daily flights to PH NAF Base Jan.18

Air Peace to commence daily flights to PH NAF Base Jan.18 Nigerian carrier, Air Peace, has announced plans to commence daily flights into the Nigerian Air Force (NAF) Base in Port Harcourt, Rivers, on Jan. 18. The Corporate Communications Manager of the Airline, Mr Chris Iwarah, made the announcement on Monday in Lagos. Iwarah said the airline would operate from the Murtala...... more

$8.1bn repatriation: HEDA invokes FoI on CBN, demands details of resolution with MTN

$8.1bn repatriation: HEDA invokes FoI on CBN, demands details of resolution with MTN The Human and Environmental Development Agenda Resource Centre (HEDA), a non-governmental organisation and non-partisan human rights and development league, has invoked a Freedom of Information Act on the Central Bank of Nigeria (CBN), asking it for detailed information on the alleged resolution between the apex bank and telecommunication giant, MTN Nigeria,...... more

Nigeria spends N2.7tn on infrastructure

Nigeria spends N2.7tn on infrastructure The High Level Stakeholders Retreat on Public Private Partnership (PPP) has heard that Nigeria spent N2.7 trillion on infrastructure development in the last three years. At the meeting in Uyo on Friday, Ms Imeh Okon, the Senior Special Assistant to the President on Infrastructure, of the sum, N100 billion has been...... more

ACCI President drums support for African passport

ACCI President drums support for African passport The President of the Abuja Chamber of Commerce and Industry (ACCI), Prince Adetokunbo Kayode (SAN), has commended the African Union over the planned roll-out of guidelines on issuance of African passports, lauding the chairperson of the African Union Commission, Mr Moussa Faki Mahamat, for providing exceptional leadership on the project. Mahamat...... more

CBN injects $263m, CNY 39m into Forex market

CBN injects $263m, CNY 39m into Forex market The Central Bank of Nigeria (CBN) on Friday injected the sum of $263m into the Retail Secondary Market Intervention Sales (SMIS), being its first intervention in that sector this year. This was in addition to the sum CNY 39 million consummated through a combination of spot and short-tenored forwards, arising from...... more

Non-compliance to regulations hinders oil industry growth — Baru

Non-compliance to regulations hinders oil industry growth — Baru Dr Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), says non-compliance to regulations by operators in the oil and gas sector hinders growth in the industry. Baru made this known at the 2018 annual stakeholders meeting of the Department of Petroleum Resources (DPR) in Abuja on Thursday. News...... more

Bayelsa posts N13.6bn IGR, vows to intensify efforts to improve revenue in 2019

Bayelsa posts N13.6bn IGR, vows to intensify efforts to improve revenue in 2019 The Bayelsa State Government on Thursday posted a total of N13.6 billion as its annual Internally Generated Revenue (IGR) for last year, as against the N4.5bn realised in 2012. The state Deputy Governor, Rear Admiral Gboribiogha John Jonah (Retd.), disclosed this in Government House, Yenagoa, during the monthly transparency briefing for...... more

Nigeria, India to sign bilateral air services agreement

Nigeria, India to sign bilateral air services agreement Nigeria and India are set to sign Bilateral Air Services Agreement (BASA) before the end of January that would enable direct flights between the two countries, the Indian High Commissioner to Nigeria, Mr Abhay Thakur has said. Thakur said this to newsmen at an event to commemorate the World Hindi Day...... more

Lagos has huge attraction for investment, says Swiss Ambassador

Lagos has huge attraction for investment, says Swiss Ambassador Ambassador of Switzerland to Nigeria, Mr. George Steiner, on Wednesday in Abuja said Lagos State with its huge market size provides a very good attraction for foreign investments.  The envoy made the declaration during a strategic visit to his office at the Swiss Embassy in Abuja by Mr. Babajide Sanwo-Olu, Governorship...... more

World Bank cuts forecast for world economic growth in 2019

World Bank cuts forecast for world economic growth in 2019 The World Bank is downgrading its outlook for the global economy this year, citing rising trade tension, weakening manufacturing activity and growing financial stress in emerging-market countries. In a report titled “Darkening Skies,” the anti-poverty agency said Tuesday that it expects the world economy to grow 2.9 percent in 2019, down...... more

CBN continues intervention in Forex market with injection of another $210m

CBN continues intervention in Forex market with injection of another $210m The Central Bank of Nigeria (CBN) on Tuesday continued its intervention in the inter-bank sector of the Foreign Exchange market by injecting another sum of $210 million into the forex market. The apex bank injected the sum of $100 million in the wholesale segment of the market in addition to the...... more

African Development Bank approves US$14.12 million to support Nigeria’s membership in African Trade Insurance Agency

African Development Bank approves US$14.12 million to support Nigeria’s membership in African Trade Insurance Agency The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s largest economy,...... more

MTN Nigeria deal fails to fuel shares as more trouble feared

MTN Nigeria deal fails to fuel shares as more trouble feared  MTN executives may have expected investors to cut them a little slack after they got potential liabilities of $8.1bn in Nigeria reduced to $53m last month. Not so. MTN stock has risen just 2.8% since the settlement on December 24, still 20% below its price in late August. That is when...... more

Teleology pulls out of 9mobile deal

Teleology pulls out of 9mobile deal Barely, two months after Teleology Holdings received approval to take over the operations of 9mobile as the preferred bidder, Teleology Holdings has expressed its dissatisfaction with the business relationship with its local partner, 9mobile Nigeria, and has decided to pull out from the 9mobile project. According to THISDAY report, Teleology Holdings...... more

 

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