News Reports

Revenue House, Abuja [Photo: Legal Forms]

FIRS arraigns two firms, officials over alleged tax evasion, assault

Hearing in the matter has been scheduled for Thursday, March 21.

Palm Oil

Nigeria spends $500 million annually on palm oil importation – CBN

The CBN Governor regrets that the country is still importing palm oil in spite sufficient arable land.


Oil slips on economic slowdown, as OPEC-led cuts still support

Crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela.


Dollar set for biggest weekly drop in three months

For the week, it is set to weaken 0.7 per cent, its biggest drop since early December.

African Development Bank

AfDB to provide $25 bn to fight climate change

The bank currently provides 34 per cent of its overall lending portfolio to projects aiming to boost the fight against climate change.

Electricity Pole

GENCOs release 4,438 megawatts of electricity

The energy released by the companies was down by 4.82 megawatts from the figure delivered on Tuesday.


Chevron, NNPC seal gas supply deal for Dangote fertiliser plant

Under the agreement, NNPC and CNL will supply 70 million standard cubic feet per day of natural gas to Dangote Fertiliser.

Central bank of Nigeria (CBN)

Nigeria’s Balance of Payments jumps by $2.80 million — CBN

$4.54 million was recorded in the third quarter of 2018.

Dino Melaye

Dollar may equal N500 in the next 60 days — Melaye

The Senate on Wednesday opened deliberations on the 2019 budget.

President Muhammadu Buhari

Buhari confirms two directors into NSIA board

NSIA’s allocates 50 percent of its future contributions to infrastructure investments.

Debris of crashed Ethiopian Airlines [Photo: Sky News]

‘Crashed Ethiopian airline may gulp $60m insurance claims’

The global insurance brokerage and risk management firm says it is the insurance broker for Ethiopian Airlines.

Nova Bank. [Photo credit: Official website of NOVA bank]

NOVA Merchant Bank Limited declares N1.15bn profit after tax

This is a significant increase from N510.6 million achieved in 2017, marking a 125 per cent increase.

Oil rig

Oil prices rise on ongoing OPEC-led supply cuts

OPEC to meet in April to appraise impact of output cut so far

Dollar Bills

Growth worries boost dollar amid sluggish Pound ahead of BREXIT vote

The index is 0.3 percent shy of its recent peak of 97.710 hit last Thursday, its highest since December 2014.

President-Muhammadu-Buhari Smiling

My administration has broken the fertilizer scarcity jinx –Buhari boasts

NSIA rehabilitated about 20 fertiliser blending plants across the country in 2018

Crude Oil pipelines

Oil exports restart on 150,000 bpd Nembe Creek Oil Export pipeline after repairs

Restoration of normal operations allays fears of a major disruption of oil exports on the pipeline

NCC frowns at proliferation of substandard mobile phones, devices in Nigeria

NCC to collaborate with the Office of the National Security Adviser (ONSA) to tackle menace

Waziri Adio

EITI Validation: How Nigeria attained ‘satisfactory progress’ status

NEITI announces Nigeria’s attainment of new validation status.

A woman weaves cane sticks to produce baskets in the Maryland community in Ikeja, Lagos, Nigeria [Photo: EPA - Ahmed Jallanzo]

Nigerian women entrepreneurs draw the short straw on education levels

Research shows that typically, necessity-driven entrepreneurship is more dominant in emerging economies like Nigeria.

Aliko Dangote, President, Dangote Group

Dangote Flour emerges best performing stock on NSE in February

The company, which opened for the month at N6 appreciated by 81.66 per cent to close at N10.90.

Professor Ashamo

How Nigeria can control pests without endangering public health — Professor Ashamo

Mr Ashamo advocates deliberate cultivation of medicinal plants in plantations, saying many of the medicinal plants used for treating diseases of humans have effective agents for control of insects.

Abdulsamad Rabiu

Rabiu, Alakija, others in Forbes ‘Black Billionaires’ list

Four Nigerians were listed among the 2,153 world’s richest


Defaulting oil marketers forfeit N771million assets to NNPC

The assets recovered included filling stations, water factories and six sports utility vehicles.
Pix: Filling station

PIC MIX: Access Bank - Diamond Bank

Access Bank, Diamond Bank shareholders approve merger

The merger is expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.


Central Bank of Nigeria blocks forex for textile importation

The restriction starts immediately and affects all forms of textile and garment importation.