Commercial Banks’ Loan Exposure To Government Hits N1.8 Trillion
The total commercial loans to the government, at all levels, rose to N1.77 trillion at the close of last year,…
Category: Local
Nigeria Exports To Indonesia Over $700m’
Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700 million dollars to Indonesia last…
$160m Forex Spent On Food Import In January
The country spent $160m from its foreign exchange on food importation in January according to figures obtained from the Central…
Customs Intercepts 42 Drums Of Explosives At Sango-Ota
The Federal Operations Unit (FOU), Zone A of the Nigeria Customs Service (NCS) on Wednesday intercepted 42 drums of calcium…
Nigeria Needs 300,000MW Electricity For Double-Digit Growth
The aspiration of growing the economy at a double-digit rate may remain a mirage unless electricity output increases to 300,…
Reps Probe Delay In Ports Concession, Privatisation Review
The House of Representatives has resolved to investigate the delay in the review of the agreements signed by the Federal…
Nigerians exceed IMF’s 30% dollar deposits threshold
Dollar deposit by Nigerians in banks has exceeded the 30 per cent threshold approved by International Monetary Fund (IMF), a…
Nigerian Seaports Poorly Ranked In West Africa, LCCI Laments
The Lagos Chamber of Commerce and Industry has expressed concern over the state of the country’s seaports, saying this has…
Nigerians Shun Naira For Foreign Currencies To Protect Wealth
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research…
BDC Operators Beg CBN To Review N2/$1 Transaction Margin
Bureaux De Change (BDC) operators in Nigeria have asked the Central Bank of Nigeria (CBN) to review the transaction margin…
CBN, ICT As Economic Stimulant
Lagos — The information and communications technology (ICT) sector has in recent times been a major player in solving societal…
CBN To Sanction Banks, FX Dealers Rejecting Old Dollar Bills
Deposit Money Banks (DMBs) and other authorised foreign exchange (forex) dealers rejecting old/lower denominations of US Dollar bills will henceforth…
Shippers Council Targets 80% Automation By June
The Nigerian Shippers’ Council (NSC) says it hopes to achieve 80 per cent automation of the entire seaport processes on…
Higher Oil Prices Push Up External Reserves By $409m
The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the…
FG Admits Revenues Crashing, Says Nigeria Faces Hard Times
The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Monday admitted that Nigeria’s economy was facing a difficult…
ABCON Seeks Measures To Boost Diaspora Remittances
The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to…
Inflation Rate: The 18.17% Rise Of A Monster
Nigeria’s March 2021 inflation rate of 18.17% has riled analysts as the economy gets caught in deep undercurrents. The country’s…
Local Currency Sells For N410.33/$ At I&E
The exchange rate of the Naira against the United States Dollar at the Investors and Exporters (I&E) window of the…
Oil & Gas: Nigeria To Account For 23% Of Projects In Africa By 2025 – Report
Nigeria may account for 23 percent of all oil and gas projects in Africa within the next four years, a…
Nigeria’s Commercial Hub Sets Up Anti-Graft Body To Investigate Officials
Lagos state, which is home to Nigeria’s commercial hub, set up an anti-corruption agency to investigate government officials and curb…
Currency In Circulation Hit N2.8tn In March – CBN
Currency in circulation rose by N29bn to N2.81tn as of the end of March from N2.78tn as of the end…
Bolt Reacts As Drivers, Uber Operators Begin Strike
Bolt and Uber drivers began a strike on Monday to demand an upward review of the fares charged by the…
Firm Begins Construction Of 350 Housing Units
Brains and Hammers Limited, a real estate company, has commenced the construction of 350 units of four-bedroom terraces as part…
Insurance Of The future’ll Be Digital, Says Leadway
Insurance companies that want to remain relevant in the nearest future must consciously create digital channels that are customer friendly,…
Make Us Pay Agents For Diaspora Remittances – BDC Operators Tell Central Bank Of Nigeria
The Association of Bureaux de Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to make…
Zamfara Govt Expends N2.9bn On Ramadan Welfare – Commissioner
The Zamfara Government says it spent the sum of N2.9 billion on the purchase of essential commodities for distribution to…
Experts Fault CBN Gov, NESG Says N60bn Printing Not Sustainable
A former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafia, and a professor of Political Economy, Pat…
Trade Advisors Pledge French Investment In Lagos Free Zone
The Conseillers du Commerce Exterieur (French Foreign Trade Advisors) has expressed readiness to invest massively in the Lagos Free Zone…
Senate Queries FMBN Over N14bn Payment On Legacy Estate
The Senate Public Accounts Committee has sustained the query issued to the Federal Mortgage Bank of Nigeria by the Auditor…
Minister To Inspect Jabi Mall Solar Project
The Minister of State for Power, Goddy Jedy-Agba, is scheduled to visit the Jabi Lake Mall Solar Hybrid project in…