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Latest News Certificate case dismissal: It’s time to build Kwara for all — AbdulRazaq Taxi driver kidnaps 10 children in Abuja 2023 Presidency: Buhari, Tinubu deceiving each other – Elder statesman Adebanjo Terrorists kill 7 policemen I arranged my kidnap to help my husband raise money – suspect Baby found alive inside plastic bag NDLEA arrests 362 suspected drug traffickers in Edo Troops neutralise three terrorists in Borno, recover weapons LASTMA officials, truck drivers clash during towing operation Lawmaker arrested after threatening foreign traders Traders, residents count losses as floods submerge shops, homes in Aba My wife demands ‘bribe’ before sex, says Pastor

 

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Forex: CBN boosts market with $210 million

Forex: CBN boosts market with $210 million The Central Bank of Nigeria (CBN) has injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN on Tuesday indicate that authorised dealers in the wholesale segment of the market were offered the sum of $100 million, while the Small and Medium Enterprises (SMEs)...... more

Konga crashes price to celebrate 7th anniversary

Konga crashes price to celebrate 7th anniversary Nigeria’s composite e-commerce giant, Konga is 7. To celebrate the seventh anniversary of its groundbreaking strides in the Nigerian e-commerce sector, the company has flagged-off a mouth-watering discount sale. The promotion will cover a wide range of products ranging from electronics, mobile phones, tablets, fashion, wine/spirits, home appliances, computers/accessories, Fast Moving...... more

Subsidies will bankrupt Nigeria, Emir Sanusi warns

Subsidies will bankrupt Nigeria, Emir Sanusi warns The Emir of Kano, Sanusi Lamido Sanusi, on Tuesday, has warned that Nigeria may soon witness the worst case of insolvency unless the Federal Government eliminates the huge resources being spent on the subsidy of petroleum and other commodities. Sanusi raised this alarm at the 3rd National Treasury Workshop, organised by...... more

Osinbajo reels out investment opportunities in Nigeria, Africa

Osinbajo reels out investment opportunities in Nigeria, Africa Vice President Yemi Osinbajo in New York said the huge development challenges facing Nigeria and the rest of Africa were “excellent opportunities for groundbreaking investments and innovation”. He stated this as a guest at an interactive session hosted by the Council on Foreign Relations (CFR), a think-tank. In his opening statement...... more

CBN: 1m farmers benefit from Anchor Borrowers Programme

CBN: 1m farmers benefit from Anchor Borrowers Programme The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme. Emefiele said this while reeling out the policy road map for his second tenure of five years in Abuja, on Monday. He explained that the bank made serious efforts...... more

Anxiety mounts as traders, FG maintain claims on Trade Fair Complex

Anxiety mounts as traders, FG maintain claims on Trade Fair Complex For thousands of traders operating at the Lagos International Trade Fair Complex (LITFC), situated along Lagos-Badagry expressway, the unresolved concession power play that has dogged the complex for many years is now threatening their means of livelihood. Reputed as one of the biggest trading centres in West Africa, the LITFC is...... more

NNPC assures support for local companies

NNPC assures support for local companies The Nigerian National Petroleum Corporation (NNPC) has assured that it would  continue to support local companies, within the entire hydrocarbon value-chain, for the growth of the nation’s economy. The Group Managing Director of the Corporation, Dr Maikanti Baru, stated this in a statement released by the corporation in Abuja on Sunday....... more

Building materials prices skyrocket in Enugu

Building materials prices skyrocket in Enugu The prices of some building materials have increased in Enugu, South East Nigeria reports the News Agency of Nigeria (NAN). NAN reports that the recorded increases were due to hike in road transportation fare and the attendant bad roads. A survey conducted by the agency to some markets in Enugu metropolis...... more

Fidelity Private Banking hosts clients to exclusive education advisory forum

Fidelity Private Banking hosts clients to exclusive education advisory forum Fidelity Private Banking Division recently organised an exclusive advisory forum at The Café in the Private Banking Suite, Ikoyi. The aim was to provide sufficient information and guidance for select clients who wish to have their children study abroad. In her opening remarks, the Divisional Head, Private Banking, Fidelity Bank Plc,...... more

World Bank advises low-income countries on infrastructure investment

World Bank advises low-income countries on infrastructure investment The World Bank says low and middle-income countries need to invest in more resilient infrastructure to reap a net benefit on average of 4.2 trillion dollars. It said this in a new report from the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR) released in Washington D.C....... more

We have supported 6,659 entrepreneurs in Bayelsa, Delta — SPDC

We have supported 6,659 entrepreneurs in Bayelsa, Delta — SPDC The Shell Petroleum Development Company (SPDC) says it has raised some 6,659 entrepreneurs from its gas fields in Bayelsa and Delta from 2003 till date. Mr. Igo Weli, General Manager, External Relations at SPDC, stated this on Wednesday at a graduation and award ceremony for beneficiaries of the oil firm’s enterprise...... more

NNPC to resume oil search in Chad Basin — Baru

NNPC to resume oil search in Chad Basin — Baru The Nigerian National Petroleum Corporation (NNPC) says it will resume crude oil search in the Chad basin immediately it gets clearance from security agencies in the country. The Group Managing Director, Dr. Maikanti Baru, made the disclosure during a courtesy visit on him by Governor of Bauchi State, Senator Bala Mohammed...... more

Otedola sells off stake in Forte Oil

Otedola sells off stake in Forte Oil Business mogul, Femi Otedola, has sold off his 75 per cent stake in Forte Oil. The billionaire businessman hinted in 2018 the plan to sell off his 75 percent stake to “maximise the opportunities in refining”. In a message he posted on Wednesday, Otedola said the process had been completed. He...... more

CBN injects $210 million into Forex Market

CBN injects $210 million into Forex Market The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN on Tuesday indicated that authorised dealers in the wholesale segment of the market were offered the sum of $100 million, while the Small and Medium Enterprises...... more

Nigeria daily oil production hits 2.3mbpd — Baru

Nigeria daily oil production hits 2.3mbpd — Baru The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru says the country’s daily oil production is currently 2.32million barrel pre day. Baru disclosed this on Tuesday when a delegation of the Nigerian Union of Journalists (NUJ) led by its President Mr Chris Isiguzo visited his office in...... more

Airtel files application for listing on NSE — SEC

Airtel files application for listing on NSE — SEC Airtel Nigeria has officially filed an application with the Securities and Exchange Commission (SEC) for listing of its shares on the Nigerian Stock Exchange (NSE). A senior management source, who pleaded anonymity, confirmed the development to the News Agency of Nigeria (NAN) in Lagos on Tuesday. He noted that the application...... more

Foreign Direct Investment into Nigeria has not dropped — CBN

Foreign Direct Investment into Nigeria has not dropped — CBN The Central Bank of Nigeria (CBN), on Monday, dismissed a Reuters report quoting World Investment Report, 2019, recently released by UNCTAD on Foreign Direct Investment (FDI) to African countries. The report alleges a decrease of over 40% in FDI inflows to Nigeria in 2018. “While the CBN is not privy to...... more

FG saves N594b in 2 years through PICA

FG saves N594b in 2 years through PICA The Presidential Initiative on Continuous Audit (PICA), on Monday, said it saved N594, 089,136,242.41 billion from auditing Ministries Departments and Agencies (MDAs) between 2016 and 2018. Mr. Johnson Oludare, Assistant Director, Special Investigation and Assignment, PICA made this known during a media workshop on “Whistle-blowing and Fight Against Corruption in Nigeria”...... more

Dangote Cement to earn $700m forex from terminals

Dangote Cement to earn $700m forex from terminals The Dangote Cement Plc on Monday said its cement terminals being constructed in Lagos State and Onne in Rivers would be concluded before the end of this year. Alhaji Aliko Dangote, the company’s Chairman, said this while addressing shareholders at the 10th Annual General Meeting (AGM) of the company in Lagos....... more

IFC, AMC to sell 14.1% stake in Ecobank Transnational

IFC, AMC to sell 14.1% stake in Ecobank Transnational The International Finance Corporation (IFC) and its Asset Management Company have reached advanced discussions to sell equity holding in Ecobank Transnational Incorporated (ETI). Ecobank The company said that IFC and the Asset Management Company (AMC) had entered into a share purchase agreement with Dutch investment firm, Arise BV for the sale...... more

Buhari directs CBN to blacklist firms smuggling 43 banned items

Buhari directs CBN to blacklist firms smuggling 43 banned items President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist any firm, its owner and top management caught smuggling or dumping any of the 43 restricted items into Nigeria. The Presidential directive was disclosed by the CBN Governor, Mr. Godwin Emefiele, on Friday, in Abuja, during a meeting with...... more

Gov. Wike warns against shutting down oil production facilities

Gov. Wike warns against shutting down oil production facilities Rivers State Governor Nyesom Wike has warned that the State Government will not tolerate the shutting down of oil production facilities of operating companies in the state. Governor Wike said under no circumstances should communities take laws into their hands by preventing oil production companies from working. Speaking during a meeting...... more

CBN dismisses reports on floating of the Naira

CBN dismisses reports on floating of the Naira The Central Bank of Nigeria (CBN) has dismissed reports (not by News Express) claiming that it has started to float the country’s currency, the Naira. “There has been NO change in Nigeria’s exchange rate structure,” CBN’s Director, Corporate Communications, Isaac Okorafor, said Wednesday in a statement. He emphasised that “the CBN has...... more

CBN injects $210m into Forex market

CBN injects $210m into Forex market The interbank segment of the Foreign Exchange market has received a boost of $210 million from the Central Bank of Nigeria (CBN), following sales concluded on Tuesday, June 11, 2019. Figures obtained from the CBN indicated that authorised dealers in the wholesale segment of the market were offered the sum of...... more

NPA slashes habour dues for vessels calling at Eastern Nigerian ports

NPA slashes habour dues for vessels calling at Eastern Nigerian ports As part of efforts to increase patronage at the Eastern Ports, the Management of the Nigerian Ports Authority (NPA) has approved a ten per cent (10%) discount on harbour dues in all concession terminals at the ports. “Ports that will be affected by this initiative are Calabar, Rivers and Delta Ports,”...... more

Foreign investors pull out N1.77tr over insecurity

Foreign investors pull out N1.77tr over insecurity Foreign investors pulled out N1.77 trillion from the nation’s stock market in the last two years, citing insecurity and economic uncertainties. Many blue-chip companies quoted on the stock exchange also experienced huge losses within the period. Specifically, N435.31 billion in foreign portfolio investment outflow was recorded in 2017, while foreign investors...... more

NNPC records N174.62bn petroleum products sales in March — Report

NNPC records N174.62bn petroleum products sales in March — Report The Nigerian National Petroleum Corporation (NNPC), on Sunday, said it recorded N174.62 billion sale of white petroleum products in March. The corporation disclosed this in its March Monthly Financial and Operations Report (MFOR) released in Abuja. It says that March sales figure was higher than the N168.65 billion recorded in February....... more

Nigerian Economy: Emefiele seeks stronger efforts against global shocks

Nigerian Economy: Emefiele seeks stronger efforts against global shocks  Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), on Saturday, emphasised the need to strengthen efforts over the coming years to stimulate growth and create jobs in critical sectors to insulate the economy from global shocks. Emefiele said this while giving a welcome address at a consultative roundtable...... more

Armese pledges lifeline for meter firms grappling with local content requirement

Armese pledges lifeline for meter firms grappling with local content requirement Indigenous meter asset provider, Armese Power Solutions, has pledged its capacity to help Meter Asset Providers (MAP) newly engaged by the 11 distribution companies (DisCos) meet local content requirements for meter rollout in line with the Federal Government’s MAP regulation. The regulation specifies a mandatory local content threshold, which requires MAPs...... more

NAFDAC shuts company packaging unregistered honey in Abuja

NAFDAC shuts company packaging unregistered honey in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) has carried out a raid of a manufacturing facility which packaged honey under poor hygiene in Abuja. In a statement by Prof. Moji Adeyeye, NAFDAC’s Director-General, the action was based on information on social media which indicated that the product,...... more

 

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