First Bank: The N75bn Otudeko Loan Crisis
Facts are emerging on the board room crisis that precipitated the sack of Adesola Kazeem Adeduntan as the managing director/…
Category: Local
NNPC Writes Accountant-General Over N111billion Shortfall In Oil Revenue, Says No Contributions To Federal Allocations For April, May
The NNPC would therefore not be contributing to the FAAC for April and May which will in turn affect the…
Nigerians Spending N190bn On American Education In 2020 Is Indicting – ASUU, NUT
The Academic Staff Union of Universities, ASUU, and the Nigeria Union of Teachers, NUT, have said the revelation by the…
Nigeria Records 1.6m Grams Of Gold Production In 5 Years – Minister
Dr Uchechukwu Ogah, Minister of State, Ministry of Mines and Steel Development (MMSD) says the ministry recorded 1,562,720 grams of…
Nigerian Central Bank Warns Staff Of Increasing Risk Of Kidnap
Nigeria’s central bank warned its employees to take extra precautions against kidnappings because of deteriorating security in the West African…
Reps Give Immigration 72 Hours To Clear Backlog Of Passport Booklets
At the plenary session on Thursday, the green chamber also asked the federal ministry of interior to review its agreement…
Nigerian President Asks For U.S. Support To Tackle Insecurity
Nigerian President Muhammadu Buhari asked the U.S. to support Africa’s efforts in tackling growing insecurity in the region. Washington should…
Worsening Insecurity To Trigger Higher Inflation, Poverty, Says LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns about the worsening security situation in the country, stating…
FG Declares Monday Public Holiday
Minister of Interior, Rauf Aregbesola, made the declaration in a statement signed by the Permanent Secretary of the ministry, Dr.…
Nigeria Facing Extraordinary Security Challenges – US
United States Secretary of State, Antony Blinken, has described the security challenges facing Nigeria as extraordinary. He said this during…
Nigeria’s Fuel Supply Outlook Bleak Amid Forex Crisis – Report
The outlook for petroleum products supply in Nigeria is bleak as foreign exchange scarcity continues to hamper importation by private…
NCC Urges Banks, Others On Bankability Of IP Assets
Accepting Intellectual Property (IP) as collateral assets will go a long way to support Small and Medium-Sized Enterprises (SMEs) in…
Oil Holds Gains Near Six-Week High On Rising Demand Optimism
Oil was steady near a six-week high as signs of strengthening demand in key markets offset concerns a Covid-19 resurgence…
Oil Prices Extend Gains As Bullish Demand Outlook Outweighs India Concerns
Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer…
Nigeria Lawmakers Expand Powers Of Firm Buying Banks’ Bad Debts
Nigerian senate passed a bill that strengthened the power of state-owned Asset Management Corp. of Nigeria to recover bad loans…
CBN Urged To Constitute Special Tribunal On Resolution Of Islamic Banking Issues
A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor…
Nigeria’s Bitumen Reserves Hit 42 Billion Barrels
Bitumen reserves in the country have grown to about 42 billion barrels out of which 43 industrial chemicals, including heavy…
Reps Ask CBN To Suspend Deadline For MFBs Recapitalisation
A day to the expiration of the deadline given by the Central Bank of Nigeria (CBN) to microfinance banks (MFBs)…
Uncertainty Envelops States As Revenue Tumbles
Nigeria’s over-reliance on oil as its major source of revenue and failure of successive administrations to build new or repair…
Nigeria, Six Others Account For 65% Global Gas Flaring – World Bank
The World Bank on Wednesday said Nigeria and six other countries were responsible for two-thirds of global gas flaring. It…
FG Grants Approval For $2.9bn Escravos Seaport
The Federal Government has granted approval for the establishment of the Escravos Seaport Industrial Complex, ESIC, to Mercury Marine Concession…
Senate Passes Amended AMCON Bill, Okays Seizure Of Debtors’ Assets
The Senate, on Wednesday, passed the Asset Management Corporation of Nigeria Amendment bill. The passage of the bill followed the…
Alternative Seaports, Solution To Gridlock – Lagos Govt
Lagos State Government, yesterday, expressed dissatisfaction over the current traffic congestion in Apapa and its environs, despite the introduction of…
‘Banks Pumped N4.56tr Into Economy In One Year’
Banks have injected N4.56 trillion into the economy as loans through private sector operators in the last 12 months, a…
Nigeria Can`T Afford Another Civil War – Osinbajo
Vice President Yemi Osinbajo, says Nigeria cannot afford another civil war because it will not augur well for the country.…
Oil Prices Steady As Rising Demand Outlook Tempered By COVID Worries
Oil prices were steady on Wednesday as support coming from forecasts of a recovery in global fuel demand was tempered…
Nigeria, ICC Younde Forge Alliance To Tackle Piracy In Gulf Of Guinea
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Interregional Coordination Centre (ICC), Yaoundé, have forged an alliance to…
Pricey Corn Has Farmers Feeding Wheat For Humans To Livestock
China’s expanding hog herd is vacuuming up the world’s feed grains and forcing traders to dip into wheat reserves, a…
CBN Injects $1.47bn Into Forex Market In One Month
The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts…
ECO: Strengthening Naira More Beneficial Than West African Regional Currency – Diplomat
As West African countries continue to dilly-dally on the adoption of a common currency, a former diplomat has advised the…