ANALYSIS: 77% Of Oil Spills In Nigeria Occurred In Only Three States
Between January 2019 and April 2021, 12 states in Nigeria recorded 881 cases of oil spillage, according to data obtained…
Category: Local
N120b Petrol Subsidy To Double As CBN Adjusts Exchange Rate
As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official…
Currency Printing Is Finance Ministry’s Responsibility, Says Owoh
Godwin Owoh, a professor of applied economics and expert in central banking, in an interview with GEOFF IYATSE, speaks on…
NNPC Selects 26 Firms To Lift Nigeria’s Crude Oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift…
Agusto & Co Forecasts $22bn Diaspora Remittances For Nigeria In 2021
Pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing…
Branch Offers Free Money Transfers
The Branch Finance Company is offering free unlimited money transfers and a 20 per cent per annum investment returns for…
Investors Gain N150bn As Nigerian Stocks Cut Losses
Investors gained N150bn at the close of trading on the Nigerian Exchange Limited last week as stocks pared their losses.…
$1.24bn Spent On Food Imports Despite Buhari’s Forex Ban
Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020…
NSML To Establish Dry Docking Facility
The NLNG Ship Management Limited (NSML), which manages vessels belonging to the Nigerian Liquefied Natural Gas (NLNG), is to establish…
Nigeria Devalues Naira, Official Rate Now 411 To Dollar
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…
Three Refineries Processed No Crude In January – NNPC
Latest operations report of the Nigerian National Petroleum Corporation indicates that Nigeria’s refineries under the management of NNPC could not…
Nigeria Lets Naira Weaken In Possible Move To Unify Exchange Rates
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…
We Breached No Laws In Our Relationship With INTELS – Suspended NPA Boss Usman
Embattled suspended Managing Director of the Nigerian Ports Authority, Hadiza Bala Usman, has debunked claims by an online newspaper, Sahara Reporters,…
Toxic Loans, Courts May Force AMCON’s Burdens On Taxpayers
Seized Assets Face Capital Erosion Amid Agency’s Monetisation Hurdles • Aero, Arik Struggling, Five Years Post Takeover • Over 3,000…
CBN Begins Gradual Harmonisation Of Exchange Rates
The Central Bank of Nigeria (CBN) yesterday began gradual harmonisation of exchange rates with the removal of N379/$1 official rate…
Power Outage As National Grid Collapses Again
On Wednesday, the nation’s grid collapsed once more, triggering power outages in some parts of the country. This was stated…
Nigeria, Others Recorded $540 Billion Remittance Flows In 2020 – World Bank
Despite the destabilising effects of the COVID-19 pandemic, Nigeria and other low and medium-income countries recorded strong remittance flows, a…
Oil Spill: Agip Shuts Down Oil Well In Bayelsa
The Nigerian Agip Oil Company (NAOC) on Wednesday confirmed an oil leak from its Idu oilfields at Egbebiri settlement within…
Cement Prices Threaten Nigeria’s Economic Recovery
Dangote Cement, founded by Africa’s richest man, Aliko Dangote, has a 60.6% market share, Lafarge Africa – 21.8%, BUA Cement…
MoneyGram To Let Cryptocurrency Holders Cash In Their Investments
MoneyGram will let people in the U.S. withdraw their cryptocurrency holdings in cash, marking another step from mainstream financial institutions toward…
Nigeria Wealth Fund To Sell Sukuk Bonds For Roads In 2021
The Nigeria Sovereign Investment Authority plans to raise equity capital and sell sukuk bonds this year to fund technology and…
Inflation Speeds Up In April As Consumer Prices Leap 4.2%, Fastest Since 2008
The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from…
$100m Lost As NNPC Gives Bunkering Service To Foreigners, Says SOAN
Shipowners Association of Nigeria (SOAN) has said that $100 million is lost to capital flight as the Nigerian National Petroleum…
EXCLUSIVE: How Amaechi, Hadiza Usman Clashed Over Multibillion Naira NPA Contracts
Months before her suspension last week, the Managing Director of the Nigerian Ports Authority (NPA), Hadiza Usman, repeatedly faced off with…
CBN-Directed Board Changes At First Bank Of Nigeria And FBN Holdings Plc Address Governance Issues
S&P Global Ratings said that changes to the boards of First Bank of Nigeria Ltd. (FBN; B-/Stable/B) and FBN Holdings PLC (FBNH;…
NSIA Assets Grow By N193b As Investment In Foreign Assets Appreciates
The Nigeria Sovereign Investment Authority (NSIA), yesterday, hinted that its net assets grew by N193.21billion in 2020, representing a 33…
FG Action On Nigerian Traders In Ghana Excites MATAN
The Market Traders Association of Nigeria (MATAN) has expressed delight on steps taken by the Federal Government to address the…
Glo Begins Reactivation Of SIM Cards
Globacom on Tuesday announced the recommencement of SIM card activation at its service outlets across Nigeria. This is coming after…
$153 Million, 80 Houses Recovered From Diezani —EFCC Boss
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has disclosed that the commission has recovered $153 million…
Nigeria’s Diaspora Remittances To Hit $22bn – Report
Nigeria’s diaspora remittances have been projected to rise by five per cent to $22bn by the end of 2021. Agusto…