The average intrinsic value of money in Nigeria may further decline to its lowest in recent period as analysts forewarned that inflation rate may rise for the...
The recent directive by the Central Bank of Nigeria (CBN) limiting the number of international money transfer operators (IMTOs) from 15 to five has continued to...
In a desperate move to find solution to its economic recession and improve on its drained foreign reserve, Nigeria has made overtures to Spain to buy...
Foreign airlines in Nigeria have expressed concern over the persistent scarcity of dollars and fall of the naira value, both of which have started having a...
The government-backed N50 billion take-off loans to the private firms that emerged as distribution companies (Discos) and generating companies (Gencos) for the power sector, is on...
From $40 billion in 2014, Nigeria’s foreign reserve has shrunk to $26 billion, shedding more than 35 percent within a year and may be further depleted. The Federal Government has blamed the situation on poor earnings...
The decision of the Central Bank of Nigeria, CBN, to introduce discriminating exchange rate for importers and pilgrims has attracted criticism from importers. It would be...
The Nigerian currency, the naira, collapsed to an all-time low, exchanging for 400 per dollar at the parallel market on Friday. No official reason was adduced...
There are strong indications that the Central Bank of Nigeria (CBN) has concluded plans to hand over the toxic loans of the distress-prone Skye Bank to...
The capital market will witness a massive return of the banks before the end of the third quarter of the year. It is believed to be...
Highly capitalised stocks in the equally influential oil and gas, consumer goods and industrial goods sectors on Thursday rallied the Nigerian stock market away from a...
A higher profit margin has compelled fuel marketers to now divert Jet A1, also known as aviation fuel, to domestic use as kerosene, so says a...
The expectation of the Nigeria Customs Service (NCS) revenue filling any gap caused by drop in price of crude oil may have been dashed, as monthly...
The sell-off at the Nigerian stock market worsened on Wednesday as average day-on-day decline grew from 0.04 per cent on Tuesday to 0.52 per cent on...
In its bid to fight inflation in the country, the Central Bank of Nigeria (CBN) has gone borrowing, targeting the sum of $773.44 million through the...
Apparently jolted by his critics, President Muhammdu Buhari has at last succumbed to the pressure to allow experts lead the way to economic recovery of Nigeria. To this...
Bank customers operating savings accounts can now lodge cheques into their accounts as the Central Bank of Nigeria, CBN, has directed banks in the country to...
Nigerian equities braced against the four-day consecutive depression at the stock market but the gains by many highly capitalised stocks failed to lift the market from...
President Muhammadu Buhari has nominated Sunday Dare, a media expert, as executive commissioner of the Nigerian Communications Commission (NCC). Already, President Buhari has requested the Senate...
Governor Akinwunmi Ambode on Tuesday received the Togolese President, Mr. Faure Gnassingbe, who is in Nigeria to visit the Dangote Refinery in Lekki Free Trade Zone...
The Ugandan Ministry of Energy and Mineral Development said it has selected three Nigerian firms to explore oil in that country. The firms are WalterSmithPetroman Oil...
Lack of synergy between the Central Bank of Nigeria (CBN) and other banks has stalled disbursement of the seed funds for start-ups. In its bid to...
Nigerian equities continued on the downtrend on Monday as the stock market reopened to mixed-feeling on corporate performance in the first half and the outlook for...
The difficulty accessing funds has pushed government to explore all avenues of borrowing money to fund its budget, including the contributory pension scheme (CPS), now put...
Fear that Nigeria may suffer more losses of oil output emerged over the weekend as suspected militants destroyed oil and gas pipeline facilities operated by Shell,...
The Central Bank of Nigeria (CBN) has directed commercial banks to immediately start the process of extending dollar loans to their customers. This is seen as...
If well harnessed, Nigeria’s hotel business is expected to rake in $507 million into Nigeria’s economy in the next four years. But this will be subject...
Nigeria will this week conclude talks with the African Development Bank (AfDB) for a $1 billion loan with which to finance its N6.06 trillion 2016 budget....
The Federal Government has not remitted pension of federal workers since September 2015, Pension Fund Operators Association of Nigeria, PenOp, has revealed. This was disclosed by...
Ministerial officials preparing the 2017 budget are having sleepless nights over the fate of the proposal, as instability in the oil sector persists. A similar scene was witnessed during the collation of data for the 2016 budget, which saw the benchmark of price of oil...
The National Insurance Commission (Naicom) has blocked the proposed divestment of the major equity stake of the embattled International Energy Insurance (IEI) in IEI Anchor Pensions...
Mr. Kennedy Uzoka will as from Monday August 1 takes over as the substantive group managing director at United Bank for Africa (UBA). The tenure of...
The management of Sterling Bank Plc at the weekend said the commercial lender is concluding arrangements to raise N35 billion tier 2 capital in the second...
In its efforts of sheltering Skye Bank from going under, the Central Bank of Nigeria (CBN) has doled out a total sum of N100 billion in...
The African Development Bank (AfDB) has urged Nigerian policy makers to evolve faster steps towards achieving sustainable improved power supply for the growth of the country’s economy. Towards this end, it said it is imperative for the Nigeria National...
Nigeria’s ranking by the international rating agency, Fitch has suffered a downgrade. The agency, which usually classifies the country under the code-name: Lagos State, has in its current Long-Term Local Currency (LTLC) Issuer Default Rating (IDR) reduced its ‘BB-‘ grade,...
After a two-day breather, Nigerian equities again came under sell pressure on Thursday as investors sought to either take profit or readjust their portfolios in line...
MTN Nigeria will displace Dangote Cement Plc as Nigeria’s largest quoted company as the board of the telecommunication company on Thursday appointed the advisory team and...
There was a remarkably drop in the number of electronic fraud-related cases in Nigeria last year, compared to the previous year, with 63 per cent reduction...
The renewed militancy in the Niger Delta have continued to hurt the Nigerian economy, as report say the shut down of the Shell’s Forcados export line...
Quoted equities sustained their recovery on Wednesday as investors sought to take advantage of the recent price depreciation to consolidate their portfolios. While the overall market...
A former Deputy Governor of Central Bank of Nigeria, CBN, Rev. Tunde Lemo, has said that state governors are responsible for the current sorry state of the...
A renewed approach at improving the trade blocs in Africa has been presented with the adoption of the common passport in use among some countries in...
A recent survey has rated Nigeria higher in the use of Automated Teller Machines (ATM) than countries like Ghana, Switzerland, and others in the middle belt....
Nigerian equities halted a six-day downtrend on Tuesday as bargain-hunters increased buy orders for several equities that had been substantially undervalued by recent depreciation. Equities rallied...
In a bit to halt the spiralling inflation rate in the country and the continuous downward trend of the naira, the Central Bank of Nigeria (CBN),...
In another attempt at firming up the local currency, the naira, the Central Bank of Nigeria (CBN) has ordered banks to record and publish details of...
Barring any unforeseen development, the Kaduna Refinery will be dedicated to producing aviation fuel, also known as Jet A1, which has added more hiccups to the...
No time in the history of Nigeria has the pump price of Dual Purpose Kerosene (DPK), popularly known as kerosene, hit an all-time price hike of...
The Kogi State government lost a whooping N213,034,857,280bn to ghost workers in 16 years, the state Auditor General, Alhaji Yusufu Okala, has revealed. Okala stated this...
