Nigeria: Chinese Bank, Sinosure To Fund $2.6bn Ajaokuta-Kano Pipeline
The Bank of China and Sinosure, a Chinese export and credit insurance corporation, are to fund the $2.6bn Ajaokuta-Kaduna-Kano gas…
Category: Local
Buhari Tasks Economic Council To Do More To Develop Nigeria
The Presidential Economic Advisory Council (PEAC) was on Tuesday directed to develop more strategies that will put the country on…
Nigeria’s Airports To Reopen When Safe – NCAA
The approval by the Federal Government for the resumption of domestic flights will only be given when it is safe…
Central Bank Of Nigeria: Leveraging I&E Window For Exchange Rate Stability
Having successfully used the Investors and Exporters’ (I&E) foreign exchange window to stop the naira from crashing to a record…
Don’t Introduce New Tax Reforms, IMF Urges Nigeria
The International Monetary Fund (IMF) yesterday advised Nigeria against implementing new tax measures at this time in order not to…
Nigeria’s Corporate Affairs Commission To Issue Incorporation Certificates With Tax Numbers
Certificates of incorporation of companies registered under Part A of the Companies and Allied Matters Act will now be…
Fitch Says Nigerian Banks Have A Risk Indicator Of 12.14. Here’s Why
A new report by Fitch Solutions titled “Nigeria: Banking & Financial Services Report Q3 2020” has revealed that the Banking…
Naira gains Against The Dollar At I&E Window, Forex Liquidity Up By 242%
Forex turnover at the Investor and Exporters (I&E) window recorded a huge increase on Monday, June 29, 2020, as it rose by 242%, a…
Nigeria: Airfares May Rise As FAAN Hikes Service Charge By 100%
Airfares on domestic and international routes are set to rise as the Federal Airports Authority of Nigeria is to increase…
Mr Price Plans To Exit Nigeria, Closes Four Out Of Five Stores In The Country
Mr. Price Group is making plans to close its Nigerian business to focus on its home market business in South Africa. The…
Nigeria: Air Peace Flies 25 Airplanes To Different Parts Of The Country In Readiness For Flight Resumption
An indigenous airline, Air Peace, on Thursday announced that it flew all 25 aircraft in its fleet on June 24…
Nigeria: NNPC Posts N9.53bn Operational Loss For March
The Nigerian National Petroleum Corporation on Wednesday announced a trading deficit of N9.53bn for March 2020, which stood out as…
IMF Cuts Nigeria’s GDP Forecast, Says Economy Will Shrink By 5.4%
The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent. The…
Nigeria Faces Worst Recession In 40 Years – World Bank
The collapse in crude oil prices, coupled with the COVID-19 pandemic, is expected to “plunge the Nigerian economy into a…
Nigeria’s Fiscal Crisis Due To Low Revenue – IMF
The International Monetary Fund has said Nigeria’s major fiscal challenge is its “very low revenue” and not so much of…
We’ll Steer Nigeria Away From Recession , Says CBN
The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian…
Naira Falls Big At the black market as demand pressure persists
Forex turnover at the Investor and Exporters (I&E) window continued with the positive trend as it rose by 42% on…
Nigeria: CBN Governor Confirms Exchange Rate Unification Plans
The Governor of the Central Bank, Godwin Emefiele, has confirmed that the Central Bank will continue to pursue unification around…
Nigeria: Flight Resumption May Not Lead To Airfare Hike– Aviation Minister
Minister of Aviation, Mr Hadi Sirika Monday assured anxious Nigerians that the planned re-opening of the airspace for domestic flights may not equate to a hike in fares.
Nigeria: FG, States Eye N212b Revenue As Naira Heads To N400/$
THE federal, states and local governments are set to earn additional N212 billion revenue this year from the planned unification…
Nigeria’s External Reserves Down By $261m
Data published by the Central Bank of Nigeria’s (CBN’s) website showed that Nigeria’s external reserve is now $36.3 billion as…
Nigeria: Jaiz Bank Shuts Down Ikeja Branch Following COVID-19 Scare
Jaiz Bank Plc, a non-interest bank that is listed on the Nigerian Stock Exchange, said its Ikeja branch has been…
Nigerian Stock Market Extends Losing Streak As Investors Lose N38bn
The nation’s stock market extended its decline on Monday as investors lost N38bn at the end of trading. The market…
Virgin Atlantic resumes Lagos-London flights August 24
Virgin Atlantic has announced its intention to resume flights from Lagos to London Heathrow from August 24, 2020 saying the…
Nigeria: Stocks Lose N190bn, Market Cap Falls Below N13tn
The nation’s stock market recorded a loss of N190bn last week as the market capitalisation of equities fell below the…
TikTok Users, K-pop Fans Say They Helped Sabotage Trump Rally With False Registrations
TikTok users and fans of Korean pop music took partial credit for inflating attendance expectations at a less-than-full arena at…
Nigeria: CBN To Integrate Non-Interest Window In Its Loans To SMEs, Households
The Central Bank of Nigeria (CBN) announced today that it has unveiled a framework that will integrate a non-interest window…
Nigeria: Stock Market Ends Four-Day Decline, Gains N22bn
The gains recorded by Nestle Nigeria Plc, Cadbury Nigeria Plc and eight other quoted companies helped the nation’s stock market…
Nigeria: Naira Slumps To 452/$ As Speculations, Debt Weaken Market
The dollar exchanged for N452 at the parallel market on Wednesday over speculations by operators in the market and the…
Nigeria: Inflation Hits 25-Month High At 12.40% In May
Nigeria’s rate of inflation, which is measured by the country’s Consumer Price Index, rose to 12.40 per cent in the…