News Reports

Ahmed Kuru, Managing Director, Asset Management Corporation of Nigeria (AMCON)

Polaris bank sale to begin after election – AMCON

“We would advertise for expressions of interest from investors after elections and commence the sale process.”

Patience Oniha

FG to auction N150bn bonds on January 30

The five-year re-opening bonds which would mature in April 2023 would be offered at 12.75 per cent.

Finance minister, Zainab Ahmed. [PHOTO CREDIT: Daily Trust]

Why Nigeria’s unable to assert self as Africa’s largest economy – Finance Minister

The minister says a unit will be deployed to monitor progress in revenue generation.

First Bank of Nigeria

Illegal Detention: Court awards N5 million against First Bank

An official says the bank is unaware of the judgment.

Godwin Emefiele

Illegal $8.12bn profit repatriation from Nigeria: Questions, as Emefiele announces how CBN, MTN settled

The apex bank’s action has left many questions unanswered.

Cigarette smoking

Why Nigeria needs a huge tobacco tax hike to curb smoking

Smoking is a major public health threat.

Representative of the Managing Director, Nigerian Ports Authority (NPA), Executive Director, Marine and Operations, Dr. Sokonte H. Davies (Middle), the Danish Ambassador to Nigeria, His Excellency, Jesper Kamp (left) and the Managing Director of Maersk Nigeria Limited, Gildas Tohouo Tohouo (right), when the Danish Ambassador paid a courtesy visit to the Management of NPA at the Authority’s Corporate Headquarters in Marina, Lagos today. Photo: NPA

NPA MD pledges enabling environment for maritime businesses

Efforts are on-going to increase the depth of the draught of Onne port to 11 meters as a way of encouraging bigger vessels,

Godwin-Emefiele

2019: Don’t drag Nigeria back to SAP era, CBN governor tells Atiku

The CBN official picks holes in Mr Abubakar’s proposed economic thrust.

Central Bank of Nigeria (CBN)

CBN retains interest rate at 14%

The MPR, the rate the CBN lends to commercial banks, has remained unchanged at 14 per cent for 30 consecutive months.

Central Bank of Nigeria (CBN)

$9bn Dangote Refinery: CBN reiterates funding support to indigenous companies

The refinery when it starts full operation would be refining 650,000 barrels of crude oil per day.

Oil rig

2019 Budget: How Nigeria will realise 2.3 million daily oil target — Officials

Two ministers express optimism that the target will be met.

Central Bank of Nigeria (CBN)

Nigeria to establish national micro-finance bank

“The bank will serve as an efficient channel for the disbursement and monitoring of key intervention funds by the CBN.”

Oil ship

Oil prices slip as U.S. crude output nears 12 million bpd

International Brent crude oil futures LCOc1 were down 37 cents, or 0.6 per cent, at $60.95 per barrel.

Central bank of Nigeria (CBN)

Sub-Saharan Africa’s growth to accelerate despite tighter global conditions – Poll

The poll suggests Nigeria will grow 2.5 per cent this year.

NNPC Headquarters, Abuja

Nigeria earns $640.35 million from Crude export – NNPC

The figure is higher than the $527.70 million logged in September 2018.

Cooking gas cylinders

Price of cooking gas decreased in December 2018 — NBS

The price of diesel, however, increased to N221.56 in December 2018 from to N219.54 recorded in November 2018.

A Market used to illustrate the story

Nigeria inflation rises to 11.44%

The increase is 0.16 percent points higher than the rate recorded in November 2018.

FILE PHOTO: NNPC fuel station used to illustrate the story

Nigerian govt to track petrol consumption

The project will address the diversion of petroleum products and provide fuel consumption data.

gas-pipeline-653x365

Pipeline vandalism up by 42.9% in October — NNPC

NNPC says it realised about $640.35million from the export of crude oil and gas for October, 2018.

Rice farm

Flood: CBN approves ‘compensation’ for 550,000 rice farmers

Only selected farmers would benefit from the ‘compensation’.

Diamond Bank

Merger: CBN, SEC grant approval ‘in principle’ to Access, Diamond Banks

Bank officials speak on the merger plans.

Ajaokuta Steel plant

11 companies indicate interest to run Ajaokuta steel

The federal government says it is not prepared to hand over the company now.

Bank queue

Nigeria targets 80% adult financial inclusion by 2020

About 36.6 million Nigerian adults do not have access to formal financial services.

The Murtala Mohammed International Airport

Nigeria warns airlines against unauthorised charter operations

The license of culpable operators could be seized.

Naira notes

Naira reverses loss, sells at N360.5 to dollar

The naira gained 50 kobo at the parallel market.