FG orders forensic audit of Discos
The National Economic Council on Thursday ordered a forensic audit of the electricity Distribution Companies in the country, particularly their…
Category: Local
FG facilitates $20m tech fund, N90bn agripreneur loan
To further drive its support for micro, small and medium enterprises (MSMEs), the federal government has facilitated a $20 million…
Sell-off in MTN, Ecobank drags equities down by 0.22%
The equities market sustained its bearish performance on Wednesday, on the back of sell-off on the shares of MTN Communication…
2019 debt servicing gulped N2.1tn — Investigation
The Federal Government spent a total sum of N2.1tn to service the country’s debt obligations to local and foreign debtors…
Discos deny receiving subsidy from FG
Electricity distribution companies, under the aegis of Association of National Electricity Distributors, has said they had not received any subsidy…
How Buhari regime depleted ECA by N1.5tn
Between 2015 and 2019, the Federal Government withdrew N1.5tn (about $4.92bn) from the Excess Crude Account, statistics obtained from the…
Immigration, NIMASA repatriate stranded Indian seafarer
THE Lagos Seaports and Marine Command of Nigeria Immigration Service, in collaboration with the Nigeria Immigration Service, NIS, and the…
Ondo targets N500bn investment through deep seaport project
ONDO State Governor, Rotimi Akeredolu, has said the development of a deep seaport project in the state will generate more…
WACT plans upgrade of phase-2 of facility
THE West Africa Container Terminal, WACT, has concluded plans to begin the second phase of its facility upgrade within the…
Dangote Fertiliser starts pre-testing of $2bn plant before inauguration
Dangote Fertiliser Limited has started the pre-testing of its $2 billion Granulated Urea Fertiliser plant located in the Dangote Free…
FG to buy up locally produced gold
The Federal Government has begun the registration of artisanal miners, following the commencement of the Presidential Artisanal Gold Mining Development…
Kano rice production hits 3MT per year
Kano State Governor, Dr Abdullahi Ganduje, says that the local production of rice in the state has reached three million…
Manufacturing declines as 2.27% GDP growth surpasses IMF projection
The National Bureau of Statistics on Monday released the Gross Domestic Product report for the 2019 fiscal year with the…
Investors lose N181.08 billion as bourse bow to bears on Monday
The Nigerian Stock market started the week on a bearish trend, as investors lost a total of N181.08 billion on Monday. This…
NERC puts limits on Discos’ estimated billing
The Nigerian Electricity Regulatory Commission has placed limits on estimated bills that can be issued by electricity distribution companies to…
FG plans more incentives to boost capital market
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has promised that the federal government would introduce more tax…
Central bank clarifies position on operation of domiciliary accounts
The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit…
Banks’ lending rates defy crash in TB yields
BANKS are yet to adjust their lending rates downward to reflect the sharp decline in treasury bills yields occasioned by…
Foreign reserves drop by $1.64bn in five weeks
The country’s foreign exchange reserves continued its downward trend as it dropped by $1.64bn from $38.34bn on January 15, 2020…
CBN sets dollar deposit, withdrawal rules for customers
The Central Bank of Nigeria (CBN) on Sunday said customers can deposit dollars into their domiciliary accounts but are not…
Forex: CBN injects $292.34million into retail Secondary Market
The Central Bank of Nigeria (CBN) has injected the sum of 292.34million dollars into the retail Secondary Market Intervention Sales…
NSE market indices dips 0.65%, amid Nestle N112 loss
The market indicators of the Nigerian Stock Exchange (NSE) on Friday declined by 0.65 per cent, amid loss posted by…
CSL Stockbrokers Appointed as New Stockbroker to the Federal Government
CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc, has emerged as the new stockbroker to the Federal Government of Nigeria. The appointment of the firm, as…
Market rebounds as financial stocks lift index by 0.17%
Following renewed interest in the shares of some banking and insurance stocks, the Nigerian equities market rebounded yesterday, to halt…
Customs intercepts smuggled rice in gas cylinders
The Nigerian Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, has intercepted some foreign parboiled rice concealed in gas…
Stock market halts five-day losing streak, gains N24bn
Activities on the Nigerian Stock Exchange closed on a positive note on Thursday, putting a halt to five consecutive days…
Prepare for electricity tariff hike, TCN tells Nigerians
Nigerians should be prepared to pay cost-reflective electricity tariffs in order to enjoy the benefits of the liberalisation of the…
PwC predicts greater success for Nigeria’s entertainment industry
The PricewaterhouseCoopers (PwC) has projected Nigeria to be among the world’s fastest-growing Entertainment and Media (E&M) industry in the next…
SON faces resistance from importers of fake products
The Standards Organisation of Nigeria (SON) may have come under pressure from dealers of fake and sub-standard products following the…
DISCOs have failed in electricity supply ― FG
THE Federal Government yesterday said that Distribution Companies, DISCOs have failed in supplying adequate electricity to Nigerian consumers. The government…