Mambilla: FG Directs NSIA To Source $200m Judgment Debt For Chinese Firm
The Federal Government has directed the Nigerian Sovereign Investment Authority to source $200m for settlement of International Court of Arbitration…
Category: Local
Yen Libor Death Knell Sounds As Traders Close In On Replacement
The hunt for a benchmark to replace yen Libor is gaining ground, with Japan’s traders leaning toward the Tokyo Overnight…
Foreign Investors Withdraw N116.72bn From Stock Market In Six Months
The Nigerian Exchange Limited has revealed that foreign investors in the equities market withdrew a total of $116.72bn from Janury…
DMO Offers FG Savings Bonds For Subscription At N1,000 Per Unit
The Debt Management Office (DMO) has announced an offering for the federal government of Nigeria (FGN) savings bonds at N1,000…
Zainab Ahmed: Nigeria Imported 400,000 Vehicles In 5 Years
Ahmed said this during a sensitisation programme on the national vehicle registry (VREG) platform in Kano on Tuesday. She said…
Cargo Haulage Cost Falls By 70% In 1 Month Over Low Import
The cost of cargo haulage from the Lagos ports has dropped by about 70 percent in the last one months,…
CBN Sets N1m As Application Fee For Payment Service Holding Company Licence
Musa Jimoh, CBN’s director of payments system management department, announced this in a circular on Tuesday. The guideline requires companies…
BDC’s Damage To Nigeria’s Economy Colossal – Finance Expert
International finance expert and CEO, FB Services Group, Canada Dr. Akin Oladeji John Brown has decried what he described as…
Mixed Reactions Trail CBN’s Hammer On Forex Sales To BDCs
The Central Bank of Nigeria’s (CBN) decision to stop forex sales to Bureau De Change (BDC) operators has continued to…
Oil Falls A Second Day With Delta’s Spread Threatening Demand
Oil fell for a second day as the spread of the delta coronavirus variant, including in the key market of…
Businesses Face Many Challenges In Nigeria, Says US Envoy
The United States Consul General in Nigeria, Claire Pierangelo, has said that businesses in Nigeria face many challenges, while expressing…
Nigerians Spend Over N100 Billion On Browsing In 2020
The Nigerian telecommunication industry recorded significant growth in the year 2020, as Nigerians consumed a total of 205,880.4 terabytes worth…
Senate Uncovers Irregularities In N1.1tr Federal Government Of Nigeria Investments At Financial Institutions
The Senate has uncovered irregularities in N1.1 trillion Federal Government investments in Crown Agents Bank and other financial institutions. Crown…
NNPC Set To Declare First Profit To Nigerians
The Nigerian National Petroleum Corporation (NNPC) has announced that it will declare its first profit to Nigerians as it prepares…
UAC Of Nigeria Reports N46.5bn Revenue In H1 2021
UAC of Nigeria Plc has announced N46.5billion revenue in its unaudited result and accounts for half year ended June 30,…
CBN FX Policies Discouraging Foreign Investors—Muda Yusuf
The immediate past director-general (DG) of the Lagos Chamber of Commerce Industry (LCCI), Mr Muda Yusuf, has blamed the Central…
ABCON Keeps Mum On CBN’s Sanction
Alhaji Aminu Gwadabe, the President of the Association of Bureaux de Change Operators of Nigeria (ABCON), has refused to comment…
External Reserves Gain $280m In Two Weeks
The country’s external reserves have returned to a growth path with a gain of $280m in two weeks, the latest…
Apapa, Tin Can Ports Independent Marketers Send SOS Over Customs’ Activities
Independent marketers at the Apapa and Tin Can Island seaports in Lagos have sent a distress call to the Federal…
New CBN Forex Policy A Step In The Right Direction But…
Until recently, the Central Bank of Nigeria expended nearly half a billion dollars every month in meeting the dollar demand…
The Restriction Of Forex To BDC Operators
In a major policy shift, the Central Bank of Nigeria (CBN) last week halted the sale of foreign exchange (forex)…
NNPC Continues FAAC Deductions, To Withhold N174.4bn In August
The Nigerian National Petroleum Corporation (NNPC) is continuing its regime of deduction from the federation account as it set to…
NESG Urges Federal Government To Intensify Actions For Economic Growth
The Nigerian Economic Summit Group (NESG), an economic think tank has called on the federal government to intensify its actions…
Nigeria’s Loans From World Bank, AFDB Rise To $14.35bn Under Buhari
Nigeria’s liabilities to the World Bank and the African Development Bank rose from $7.14bn to $14.25bn between June 30, 2015…
FUGAZ Stocks Investors Lose N50.45 Billion During The Week
The market capitalization of the top five banks, referred to as the Tier-1 banks decreased to N2.46 trillion at the…
NPA Pledges To Enthrone International Standards At Ports
The Acting Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello Koko has restated the commitment of the management…
Federal Government Of Nigeria Cuts Gas-To-Power Price To $2.18/Mmbtu
The Federal Government, on Thursday said it has reviewed downward the price of gas-to-power from $2.50/mmbtu to $2.18/mmbtu for domestic supply…
CBN: BDC Promoters To Get Refund On Deposits, Fees With Pending Applications
In the aftermath of the Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) has said it will…
Nigeria’s Capital Import Dips To $875.62m In Q2
The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89million in…
Federal Government Urged To Adopt Bangladesh’s Export-Demand Industrial Policy Model
The Director-General, Nigerian Institute of International Affairs (NIIA), Professor Eghosa Osaghae has advised the federal government to adopt an export-demand…