News Reports

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Nigeria to supply Walmart with $6 billion worth of cashew nuts

What Nigeria currently does is ship the nuts to Vietnam, who in turn roast and sell to the U.S.

Murtala Muhammed International Airport, Lagos

FAAN explains roof leakages at Lagos international airport

“We want to state clearly that this defect did not affect operations in any way.”

Automated Teller Machine used to illustrate the story [Photo credit: NAN]

World’s first ATM marks 50th ‘Birthday’

The world’s first ATM was unveiled by Barclays at its Enfield branch in North London on June 27, 1967.

An Etisalat Office

Etisalat debt crisis: Banks’ shareholders ask mobile operator to clear debt

Etisalat Nigeria is enmeshed in a debt crisis to a consortium of banks.

Emmanuel Macron

France plans 1 billion Euros investment in Nigeria

Some potential investors are in wind and solar energy sectors.

Minister of Budget and National Planning Senator Udoma Udo Udoma [Photo Credit: Channels TV]

Minister warns MDAs against padding 2018 budget

The minister also warned against inclusion of ghost workers.

Mexican flag

Nigeria, Mexico trade volume hits $600 million

The amount has grown from $45 million in the last 15 years.

Comptroller-General of Nigeria Customs, Hameed Ali

Customs generates N239.4 billion in first quarter, 2017

Customs says the amount exceeded its target of N193.2 billion.

NNPC TOWERS

NNPC’s ‘bloated’ workforce major taker of $33.8 billion generated in 2016 — Report

A report says NNPC’s operational expenses between 2015 and 2016 consistently outstripped its revenues.

An Etisalat Office

17 important things to know about Etisalat Nigeria debt crisis

The mobile telecom operator, Nigeria’s fourth largest, is enmeshed in a debt crisis.

Nigerian Senate

Petroleum Industry Governance Bill ‘seriously flawed’, fails local communities – Group

The group criticised the separation of the original PIB into separate bills.

NNPC TOWERS

Only 2 NNPC subsidiaries were profitable in 2016 – Report

NNPC remitted money into the FAAC account only six times in 2015 and 2016.

Managing Director, CCM Company Limited, Bart Van Eenoo

INTERVIEW: NPA ‘playing politics’ with Calabar Channel project – Contractor

The company linked to a Nigerian senator, Hope Uzondinma, denies it was favoured to get the contract.

Minister of Finance, Kemi Adeosun

Recruitment of 7,500 tax officers: Nigerian govt. begins training of pilot set

The government says it is testing its training materials with 27 trainees.

NCC Headquarters

Why we intervened in Etisalat debt crisis — CBN, NCC

The CBN was invited by the NCC to help persuade the banks to accept a negotiated settlement by establishing a debt restructuring plan.

Lagos' Central Business District [Photo: naibuzz.com]

Nigeria 19th most attractive investment destination in Africa – Report

Botswana is identified as Africa’s most attractive economy.

NNPC TOWERS

NNPC completes refund of N450 billion to Nigerian govt, states, LGs – Adeosun

During the FAAC meeting, a total of N462.4 billion was shared as revenue among the three tiers of government.

faac-meeting

Nigerian govt, states, local govts share N462.4 billion in May

Oil revenue also dropped during the month.

Nigerian Stock Exchange (NSE)

NSE reviews indices; Fidelity, Diamond, others may join

The indices are reviewed bi-annually.

Zenith Bank [Photo Credit: Logbaby.com]

Etisalat crisis worsens Zenith Bank, GTB, others’ debt exposure – Report

A sensitivity analysis shows Zenith Bank contributed the largest to the loan.

Etisalat Nigeria

Etisalat says it ‘consistently’ repaid loan

The firm denies it is being probed by the EFCC.

An Etisalat Office

Banks seek EFCC investigation of Etisalat Nigeria over $1.2 billion loan

“All we want is to recover the loans; we cannot write off the loans as being demanded by Etisalat,” a source said.

Executive Secretary of the association, Obafemi Olawore [Photo: Pulse.ng]

Pay us N720 billion subsidy claims, petrol marketers tell Nigerian govt

The marketers said the non-payment was also affecting Nigerian banks.

network cables RJ45 connected to a switch

Internet outage looms in Nigeria as MainOne cable develops fault

The 14-day service outage Is the first of its kind in seven years since the cable system came into operation.

NCC Headquarters

Etisalat Nigeria Crisis: NCC assures subscribers of network integrity; restates conditions for license

‎Etisalat is being taken over by a consortium of banks.