The Central Bank of Nigeria (CBN) has suspended foreign exchange sales to Bureau De Change (BDC) operators until further notice. This could further increase the price of the dollar which the apex bank recently announced should be sold by BDCs to end-users at N380 to a dollar from the initial…

Access Bank Plc has temporarily closed its Ligali Ayorinde branch in Victoria Island, Lagos. The bank said it took the decision after a visitor tested positive for coronavirus. A statement from the bank Monday said persons who had contact with the concerned individual are currently in isolation. “We have confirmed…

The Nigerian Civil Aviation Authority (NCAA) on Thursday suspended a staff promotion exercise scheduled to hold on April 4. A statement by Sam Adurogboye, General Manager, Public Relations, said the suspension was a precaution against the coronavirus outbreak, and that all pending inspections, trainings and various exchange programmes involving foreign…

Arik Air on Wednesday suspended its flight services to its West African destinations as part of its safety measures following the outbreak of the coronavirus. The airline said in a statement that the temporary suspension of flights to all its West Coast destinations would become effective from March 23. The…

As parts of efforts to contain the effects of the coronavirus on the nation’s economy, the Nigerian government on Wednesday announced plans to halt recruitment exercises in the public service. Minister of Finance, Budget and National Planning, Zainab Ahmed, made the decision known late Wednesday in Abuja. Speaking with journalists…

The Nigerian government on Wednesday announced some significant changes to its 2020 budget as measures to contain the effect of the outbreak of coronavirus on the nation’s economy. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the government will implement a 50 per cent cut in revenue…

The Nigerian government on Wednesday announced the reduction of the pump price of petrol to N125. A statement by Nigerian National Petroleum Corporation, NNPC, said the move was in compliance with the directives of the Honourable Minister of State for Petroleum Resources on petrol pricing. The corporation said it has…

The Muslim Students’ Society of Nigeria has cancelled its annual camping programme over coronavirus fears. The programme takes place annually in April. A statement by the Amir (President) of the MSSN in Lagos State, Saheed Ashafa, said that the cancellation was in-line with the federal government’s directive cautioning against large…

Almost 72 hours after a tragic explosion shook Abule Ado area of Lagos State killing at least 20 Nigerians, President Muhammadu Buhari is yet to visit the scene of the incident. Rather, on Monday, the Lagos State Governor, Babajide Sanwo-Olu, jetted to Abuja to brief President Muhammadu Buhari about the…

The Nigerian government on Monday lost a bid to postpone a massive claim against oil giants, Eni and Shell, in a London court. Royal Dutch Shell and Eni’s bid to block a $1.1 billion civil claim over corruption allegations in Nigeria will go ahead next month, Mark Pelling, a judge…

The governorship candidate of the African Democratic Party in the 2019 governorship election in Lagos, Babatunde Gbadamosi, has formally defected to the state chapter of the Peoples Democratic Party. Mr Gbadamosi defected on Monday at the state secretariat of the party in Ikeja, the state capital. The state Chairman of…

The Federal Airports Authority of Nigeria on Tuesday announced that it has suspended its scheduled national conference. The National Aviation Conference was earlier scheduled to take place between April 1 and 4, at the International Conference Centre, Abuja. A statement by the spokesperson of FAAN, Henrietta Yakubu, said that the…

A former governor of Ondo State, Olusegun Mimiko, on Monday said that the Nigerian economy has failed. Mr Mimiko spoke at the opening ceremony of the 70th birthday celebration of poet and author, Odia Ofeimun, themed “Taking Nigeria Seriously: A Conference in Honour of Odia Ofeimun”. The event, held at…

The explosion that rocked parts of Lagos on Sunday occurred when a truck hit some gas cylinders in the area, the Nigerian National Petroleum Corporation (NNPC) has said. The corporation made this known in a statement by the Group General Manager, Group Public Affairs Division of the NNPC, Kennie Obateru.…

The naira appreciated against the dollar on Friday after days of panic buying amid speculations that the Nigerian central bank may devalue the local currency. The Nigerian currency had lost ground against the dollar earlier in the week, trading between N366 and N368 amidst the slowdown in global demand for…

Entrepreneur and ICT expert, Demola Aladekomo, has been appointed the new Chairman of the Board of Directors of Chams Plc. The appointment took effect from March 3rd, the company said. A disclosure notice signed by Yetunde Emmanuel, Company Secretary/Head, Legal Services, said Mr Aladekomo’s appointment follows the resignation of the…

Airtel Africa Plc says it has completed the acquisition of 10 MHz spectrum in the 900 MHZ band in Nigeria for a total consideration of $94 million. The company said it completed the spectrum acquisition after obtaining approval from the Nigerian Communications Commission. The telecommunications company said in a disclosure…

Oil prices slumped Friday after the Organisation of Petroleum Exporting Countries (OPEC) and its allies failed to reach a deal on oil production cuts. The decision followed Russia’s refusal to tighten supply to counter the effects of the coronavirus outbreak on oil prices and the global economy. PREMIUM TIMES reported…

Khaled El Dokani, the country Chief Executive Officer of Lafarge Africa in Nigeria, has apologised for the company’s role in admitting the deadly coronavirus into Nigeria. Mr El Dokani made the comment during a chat with Channels Television on Wednesday after a visit to the Nigeria Stock Exchange in Lagos.…

The Nigerian Civil Aviation Authority (NCAA) has ordered all airlines operating international and regional flights into Nigeria to issue Health Declaration Forms to their passengers and crew members before arriving Nigerian airports. This directive was given Thursday morning in a statement by Sam Adurogboye, NCAA’s General Manager, Public Relations. Mr…

Barely 24 hours after Nigeria recorded its first case of Coronavirus, scarcity of sanitisers, face masks and other protective apparel has hit major cities in Nigeria, including Lagos and Abuja. PREMIUM TIMES survey also showed that prices of the protective and basic safety apparel has since skyrocketed, amid rising demand.…

Experts in the telecommunication industry on Thursday stated that Nigeria will derive huge socio-economic benefits from commercial deployment of the fifth generation (5G) networks. The experts spoke during a special panel session sponsored by the Nigerian Communications Commission at the ongoing social media week in Lagos. They argued that the…

Against the backdrop of the spread of Coronavirus, some of the world’s biggest employers are taking stringent measures to curb travel amid fear over its effect on global economy. On Thursday, Nestle and L’Oreal suspended business travel as fears rise over Covid-19’s spread. Other companies are canceling corporate off-site events…

The Federal Airports Authority of Nigeria (FAAN) has announced that an emergency simulation exercise is presently holding at the Murtala Muhammed International Airport, Lagos. A statement by Henrietta Yakubu, General Manager, Corporate Affairs, FAAN, explained that the exercise is an operational requirement of the International Civil Aviation Organization (ICAO) for…

Google Nigeria has completed plans to kick off a series of business clinics aimed at helping 5,000 merchants across Nigeria acquire the skills and tools needed to leverage the web for growth. A statement by the tech company on Wednesday said the initiative is known as ‘Digital Business Compass’. The…