Wema Bank clears the air on alleged contempt suit
The management of Wema Bank has cleared the air on the alleged contempt suit that was earlier filed against it by…
Category: Local
Nigeria lost $750 million to crude oil theft in 2019 – NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said Nigeria lost about $750 million to crude…
Continued border closure not sustainable – MAN
The Manufacturers Association of Nigeria has said that the continued closure of the country’s land borders is unsustainable as many…
Accountant General fails to explain N2.9bn IPPIS funds, Senators kick
The Senate Public Accounts Committee adjourned abruptly on Tuesday following the inability of the Office of the Accountant General of…
Diverted flights: Some Nigerian passengers return by road
Some Nigerians stranded in Accra, Ghana after their flights were diverted due to inclement weather at the Murtala Muhammed International…
ICRC commends Sifax on concession agreement
THE Infrastructure Concession Regulatory Commission has commended the management of SIFAX Group for its level of compliance with the terms…
Shipping industry operators rally support for SON
THE leadership of the Association of Nigeria Licensed Customs Agents, ANLCA, has pledged to partner with the Standard Organisation of…
Petroleum products, bulk wheat dominate cargo throughput
REFINED petroleum products still dominate the nation’s import chart as over 316,247 metric tonnes of different refined petroleum products were…
Nigeria’s GDP forecast for 2020 to drop – IMF
The International Monetary Fund (IMF) has reviewed its projected GDP for Nigeria from 2.5% to 2% in 2020. The global lender…
Inflation rises to 12.13%, highest in 22 months
The National Bureau of Statistics, on Tuesday, released the Consumer Price Index which measures inflation with the index rising from…
Operators project another negative market as investors lose N162bn
CAPITAL market operators have said that the equities market will record another week of negative returns following sell-off in big capitalised…
Our tariffs up by 50% April 1 –Ikeja Disco
Ikeja Electric Plc says its tariffs will go up by 50 per cent beginning from April. The Disco disclosed this…
Why telcos retain old SIM users’ records, by ALTON
Telecommunication operators retain the records of former users of old SIM cards in their archives for legal reasons, the Chairman,…
‘FG supports creative industry with N7bn loan’
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government has approved a facility of…
Budget 2020 projections realistic – FBN Quest
ANALYSTS at FBN Quest, Lagos-based investment banking firm, have described the 2020 budget and the revenue assumptions in the budget…
NASD urges investors to seek for unquoted stocks
Amid the bearish equities market, the Nigerian Association of Securities Dealers Over-the-Counter (NASD-OTC) has advised investors to seek for unquoted…
Power sector loses N19.15bn in 10 days
The nation’s power sector lost an estimated N19.15bn in 10 days due to constraints from insufficient gas supply, distribution and…
Nigeria Seen Unable to Avert Naira Devaluation Past 2021
Dwindling reserves and lower oil prices will probably force the Nigerian central bank to devalue one of the world’s most…
Subscribers must explain need for new mobile lines – Minister
Existing subscribers to telecommunications services who want new telephone lines must be made to explain why they need the lines,…
FG appoints committee for new economic development plan
As the Economic Recovery and Growth Plan ends in December, the Federal Government has set up a steering committee to…
Oyetola presents N1.2bn bonds to retirees
Osun State Governor, Adegboyega Oyetola, on Friday presented a total sum of N1.2bn bonds to some retired workers, who are…
Senate summons AGF, CBN over N596bn ecological fund
The Senate, on Thursday, following an audit query from the office of the Auditor General of the Federation, summoned the…
Stock market down N95bn on sale pressure
Activities on the Nigerian bourse on Thursday reversed Wednesday’s positive sentiment with a loss of N95bn in market capitalisation following…
Nigeria’s oil exports fall as explosion shuts pipeline
The nation’s oil exports have suffered a setback as an oil pipeline explosion forced the Nigeria Agip Oil Company, a…
Indiscriminate tax waivers affected FIRS revenue target — FIRS boss
The Executive Chairman Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has blamed non-discretionary tax waivers, illicit financial outflows and…
Forex: CBN introduces longest Naira-settled Forwards contract
In a bid to reduce demand pressure in the foreign exchange market, and enhance dollar inflow into the economy, the…
Agriculture: CBN’s revised policy on the dairy industry
In a recent circular signed by the Director, Trade and Exchange, Dr Ozoemena Nnnaji, the CBN restricted the number of companies…
SEC may announce new recapitalisation programme for capital market operators
Capital market operators should be bracing up for recapitalisation programme as indications emerged on Thursday that the Securities and Exchange…
Tin Can Command targets N540 billion revenue for FG in 2020
The Tin Can Island Command (TCIC) of the Nigerian Customs Service has disclosed plans to achieve its N540 billion revenue target this…
CBN’s N154.38 billion T-bills auction over subscribed by 46% as rates fall marginally
The Central Bank of Nigeria’s (CBN) second Treasury Bills Auction of the year worth N154.38 was oversubscribed by 46% yesterday, with marginal fall…