Import Restrictions, FX Fluctuations… Why Shoprite May Be Selling Stake In Nigerian Business
Shoprite, Africa’s largest food retailer, told investors on Monday that it is considering a potential sale of ” all or…
Category: Local
Dollar Stumbles As Investors Await U.S. Stimulus Breakthrough
A rebound in the dollar faltered on Tuesday as political wrangling over a U.S. relief plan and the gloomy economic…
CBN’s Emefiele: ‘The Nigerian Situation Is A Challenging One’ Says Analyst
In the second part of our series on the governors running the Central Banks of West Africa, we take a…
Buhari Orders Payment Of Fees For Stranded NDDC Scholars
The director, Corporate Affairs, NDDC, Mr. Charles Odili has disclosed that scholars of the Commission facing hardship abroad over non-remittance…
Nigeria’s Oil Projects Threatened As IOCs Suffer $27.8bn Loss
Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country…
Here’s The Nigerian Who Is Buying Shoprite’s Stake
Shoprite, Africa’s largest food retailer, announced on Monday it is considering selling off its majority share in its Nigerian subsidiary.…
Govs Express Concern Over Nigeria’s Fragile Security, To Meet Buhari
The thirty six state governors Monday expressed concern over the fragile security situation in Nigeria. The governors also resolved to…
Shoprite Lifted By Sales Jump And Potential Nigeria Exit
Shoprite Holdings could become the latest South African retailer to retreat from other African markets after it said on Monday…
Nigeria’s Gross External Reserves: An Historical Perspective
The major objectives of external reserve management in Nigeria are ensuring the preservation of Capital, providing adequate liquidity to meet…
Nigeria: Eid-El Kabir: Errors Push PoS Failed Payments To 23%
Many Nigerians experienced declined transactions on Point of Sales terminals all over the country as PoS transactions failure rate hit…
Nigeria: With Non-Interest Guidelines, CBN Widens Participation Scope Of Intervention Schemes
For years now and especially since the 2008 global financial meltdown, central banks in many developing and emerging economies, began…
Nigeria: BoI Increases Support For MSMEs To N53bn
In demonstration of its commitment to the development of micro, small and medium scale enterprises (MSMEs) in the country, the…
Nigeria: Govt Moves To Reduce Oil Production Cost To $10
The Federal Government is working towards attaining a $10 per barrel production cost sealing in the oil and gas sector, the…
Concerns Mount Over Loan Agreement Clause Waiving Nigeria’s Sovereignty Immunity
Concerns mounted at the weekend over the rising trend of government officials signing loan agreements with a clause that waives…
Shoprite Begins Moves To Leave Nigeria
South African superstores, Shoprite Holdings Limited, has stated it will auction its outlets in Nigeria, The Nation can report. The…
Nigeria: FG Moves To Rescue Trafficked Nigerian Ladies from Lebanon
The Federal Government has begun moves to rescue 30 trafficked Nigerian ladies from Lebanon. The victims had on Friday pleaded…
Nigeria: Lagos Worship Centres To Reopen Aug 7
Religious centres in Lagos state will resume activities on August 7, 2020. Babajide Sanwo-Olu, governor of Lagos, announced this at…
Nigerians Suffering In Europe
The Founder of Napier Consulting Services, Roy Napier, has lamented the rate of exploitation of young Nigerians who travelled to…
Arik Air To Resume Flights To Jos, Benin, 2 Others
Arik Air has resumed services to four additional airports in Nigeria namely; Benin, Jos, Owerri and Asaba. It said this…
AIB Begins Investigation As Two Aircraft Collide At Lagos Airport
The Accident Investigation Bureau says it will investigate a collision involving Middle East Airline and a Turkish plane at the…
Nigeria: MAN Supports Forex Unification
The Manufacturers Association of Nigeria (MAN) has described the unification of the country’s Foreign Exchange (forex) windows by the Central…
Apapa Gridlock: Customs Agents Petition FG Over 500% Increase In Costs
Some Customs agents in the country have called on the federal government to immediately address the deficiency and high cost…
Nigeria: Local Production Suffers Continued Contraction As PMI Hits 44.9%
Purchasing Managers’ Index (PMI) for the manufacturing sector has continued to reflect the sector’s weaknesses as regards production, new orders,…
Nigeria: People Fear They’ve Got Too Much Cash In Their Bank Accounts
Falling interest rates are tempting some Americans to forego safety and pour their savings into assets such as stocks and…
Nigeria: Cautious Optimism As Nations Ease Flight, Tourism Restrictions
More countries are opening up the international airspace for commercial airlines and tourism to resume. Travellers will however find that…
IMF Introduces New Transparency Code For Nigeria, Others
The executive board of the International Monetary Fund has approved the new IMF Central Bank Transparency code. It said in…
Nigeria: The Return of Wharf Rats
Eromosele Abiodun writes on the alarming rate of pilfering at terminals across the nation’s seaports Last week, vehicle importer, David…
Nigeria: ‘Businesses Lost Hope On Economic Growth In July’
The July 2020 Business Expectations Survey Report of the CBN has shown that firms are pessimistic on the macro economy…
CBN’s Ban On Forex For Import Boosts Interest In Maize, Fish Farming
In furtherance of government’s efforts to drive Nigeria towards food sufficiency, Agribusiness firm, Eatrich Farms, has launched the Green Africa…
Nigeria: FG To Check Temporary Import Permit Abuse
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigeria Customs Service (NCS) have agreed to join forces to…