News Reports


CBN asks Nigerian banks to submit regular reports on Boko Haram, Ansaru deals

Even if the banks have no transactions involving the groups, a report is still to be expected.


‘Cashless project is gaining acceptance’- Central Bank of Nigeria

Nigeria began its Cash-less Project last year, with Lagos State as the pioneering the project.

World Bank indicts Jonathan’s government, says massive poverty, unemployment killing Nigerians

The number of Nigerians living in poverty is increasing significantly, the World Bank says.

Power company consultant assures investors of safety of funds

The Federal Government started privatization of 10 NIPP power plants on June 4.

NDIC offers bailout to troubled micro-finance banks

The bailout comes in the form of financial assistance with minimum interest rate.

Update: Okonjo-Iweala uses sponge cakes to educate Nigerians on GDP

Ministers says economy is strong and stable.

BOI managed funds hits N1.6trn

Evelyn Oputu, Managing Director of the Bank of Industry, says the government and international development partners are confident in the abilities of the BOI. The Managing Director of the Bank of Industry, Evelyn Oputu, said owing to the confidence reposed in the management of the bank by the government, as well as by local and […]

Nigeria approves N750bn for recapitalisation of Bank of Industry

A UN chief warned that exporting crude and unprocessed products was detrimental to Nigerian economy. The Federal Government has given approval for the recapitalisation of the Bank of Industry (BOI) to the tune of N750 billion. The General Manager of the Bank, Joseph Babatunde, made the disclosure on Friday in Lagos during a training programme […]

Nestle Nigeria Plc appoints new managing director

The former managing director retired in may.

Dangote Cement’s finance chief resigns

A new financial officer has been appointed.

Air safety in Africa is our priority — IATA

The global aviation agency said this in South Africa. The International Air Transport Association (IATA) has said that air safety in Africa remains one of its cardinal priorities. Matschnigg Günther, IATA’s First Deputy Chairman, stated this on Tuesday in Cape Town, South Africa at a news briefing on the 69th Annual General Meeting (AGM) of […]

Jonathan, ministers may approve fresh N47bn loan Wednesday

The minister of finance is seeking approval for a loan.

20 Nigerian companies raise N200bn from bonds market – DMO

the DMO had transformed the market to raise long-term funds of up to 20 years.

Sanusi lamido sanusi

Sanusi bags Africa Central Bank governor of the year award

Sanusi was commended for sustaining banking reforms in Nigeria.

University of Agriculture, Abeokuta, hosts conference on snail production in Africa

 The event will bring together stakeholders in the snail breeding industry.

Asset Management Company of Nigeria

AMCON’s move to refinance bonds calms fears of inflation, financial instability in Nigeria

The Company plans to redeem and refinance its maturing obligations at the end of 2013 through 2014.


Nigeria Central Bank sells N277.9bn worth of treasury bills

Five categories of treasury bills were sold at the last biweekly auctions.

N25.7bn theft: Court adjourns ex-Bank PHB boss, Atuche, wife’s criminal charges

The couple are accused of defrauding their bank.

Union bank ordered to refund N34m fraudulent deduction from customer’s account

The bank will also pay N3m fine.

Nigeria Sovereign Wealth Authority unfolds initial $525 million investment

The NSIA stated this on Monday in Abuja.

Nnamdi Azikiwe Airport

Aviation workers insist on strike, as NAMA says Nigeria’s airspace will be open to traffic

Workers of the Nigerian Airspace Management Agency (NAMA) under aviation unions on Sunday insisted that there was no going back on their planned protest slated for Monday, May 20. The unions said that the planned shutting down of the nation’s airspace was to press home their demand for the implementation of the approved salary scale […]

ALSCON controversy: BFIG accuses RUSAL, Nigeria’s BPE of money laundering

ALSCON incurred massive losses for years while its asset were devalued.