News Reports

Nigeria Central Bank urged to check quack finance houses

The activities of quacks are a challenge to the finance sector.

Building Collapse Guild urges developers to obey construction standards

There is a high rate of building collapse in the country.

FG to buy 30 aircraft to assist local operators

The Federal Airports Authority of Nigeria (FAAN) has announced government’s plan to buy 30 aircraft as part of its plans to boost the operations of the aviation industry. The Corporate communications General Manager of FAAN, Yakubu Dati, said during an inspection of the renovated Benin Airport on Wednesday, that the fund would be sourced from […]

United Bank for Africa

Nigeria Stock Exchange to suspend UBA shares Thursday

UBA will split in four parts and shareholders will choose which of the constituents to re-invest in.

Reflections on the last twelve months, By Ifeanyi Uddin

An eventful year ends, much as it began — inauspiciously. Which is sad! For we recall the immediate past not so much for how well off we have turned out (though, arguably, the past twelve months had moments that, had the brave been sufficiently persuaded to try, held out the promise of real redemption). Instead, […]

Ships fuel laden

Palm oil filled ship, 80 others expected in Lagos ports in two weeks

The items in the ship reveal dependence on imported products.

Naira remains relatively stable despite close of official auction

Naira traded at about N158.50 to the dollar as at Thursday.

Fuel scarcity spreads nationwide

NNPC assures Nigerians of adequate fuel supply

Despite long queues at fuel station, NNPC says there will be adequate supply of fuel.

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Mobile payment, online transactions to face higher fraud in 2013 – Report

The report said mobile payments, on-line transactions and others face more risk of fraud.

Domestic Terminal, Murtala Muhammed Airport, Lagos

Six years after, domestic wing of Lagos airport gets airfield lighting

The domestic wing of the Murtala Muhammed  Airport, Ikeja, came alive on Tuesday, as the Nigerian Airspace Management Agency (NAMA) successfully deployed the emergency airfield lighting on its runway. The equipment was deployed on the popular 2.7 km runway  ’18 Left’. Supo Atobatele, the General Manager (Public Affairs) of NAMA, announced this to Aviation Correspondents in […]

How Nigeria loses billions in solid mineral sector- NEITI report

More that 70 per cent of mining companies in Nigeria are inactive.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Nigeria Stock Exchange undertakes year-end review of Market Indices

The Nigeria Stock Exchange does the review twice a year.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Nigerian Stock Exchange closes for yuletide season

The Nigerian Stock Exchange will re-open on Thursday.

Ifeanyi_Uddin_columnist

November Inflation Numbers, What Significance? By Ifeanyi Uddin

Consumer price indices for November (released last week by the National Bureau of Statistics – NBS) confirm what every housewife/home maker in the country has known for sometime now. Rising food prices, to the extent that these reduce disposable income, are hurting households’ welfare. The choices are easier as you move up the social ladder: […]

Nigeria House of Representatives pass 2013 budget

The House of Reps increased the budget by N61.6 billion

Bank atm-001

56m Nigerian adults have never had bank accounts, transactions – Survey

The survey showed that about only about 28.6mn Nigerian adults have bank accounts.

Segun Aganga

Qatar to invests $390m in Nigeria’s transport sector, says Minister Aganga

Qatar, a tiny Middle east country bordering the Persian Gulf and Saudi Arabia, has expressed interest to invest 390 million dollars in Nigeria’s transport sector in 2013. Olusegun Aganga, the Minister of Trade and Investment, who disclosed this on Tuesday in Abuja, said the two countries had concluded arrangements to sign a memorandum of understanding (MoU) on the […]

Former CBN governor warns against sharing excess crude revenue

The excess crude revenue should be left for the rainy days, a former CBN governor said.

Improving Nigeria’s public sector accounting standards By Peter Onwubuariri

IPSAS can help fight corruption if utilised appropriately.

Aero Contractor’s MD resigns

The airline is currently undergoing a restructuring exercise.

ANALYSIS: UC RUSAL’s serial fraud, lawlessness in ALSCON

UC RUSAL has brazenly disobeyed Nigeria’s legal system to the chagrin of Nigerians.

Tony Elumelu

Tony Elumelu blasts investors, says they’re exaggerating Nigeria corruption

Tony Elumelu, Chairman, Heirs Holdings Ltd., on Monday stressed the need for investors to report positive issues that would encourage doing business in the country. Mr. Elumelu made the appeal at the Presidential Policy Dialogue at the 18th National Economic Summit in Abuja. He said that though corruption should be tackled in the system, it should not be the major […]

Ifeanyi_Uddin_columnist

Why we must restructure government a la Sanusi Lamido, By Ifeanyi Uddin

Once again, SLS (our moniker for Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria ―CBN) walks into a new tempest. In fact, he did not walk into this. He seeded it. Almost inevitably, so soon as he suggested government sack half of its workforce as part of a restructuring process necessary to steady […]

Banks reluctant to grow loan books despite plenty of demand

Banks want an improvement in the power sector so they can improve their loan books.

Jonathan sacks BPE boss, Bolanle Onagoruwa

FG sacks the Director General, Bureau for Public Enterprises, BPE, Bolanle Onagoruwa