News Reports

Nigeria not broke – Finance Minister

The Minister of State for Finance says those who say Nigeria is broke are mischievous.

Nigeria politicians cause high dollar exchange rate – BDCs

A dollar goes for about N220.

Naira hits N215 to dollar at Bureau De Change

The Naira against the pound at the BDCs exchanged for N332 from the N307.

FAAN threatens to publish names of debtors

The publication of the names would be a prelude to other measures designed to help the authority to recover all its outstanding debts.

Rice Farmers Photo Credit: Agro Nigeria

20 Nigerian women win International award on agriculture

The winners will benefit from a two-year career-development program.

A former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu

Ex-CBN depty Gov., Moghalu, appointed professor at Tuft University

Mr. Moghalu’s appointment will take effect from July 1, 2015.

CBN may devalue Naira again, as currency slumps to N213 to dollar at parallel market

The CBN had on January 28 put up some measures to stabilize the Naira and save it from further depreciation.

​S​EC approves new complaint framework for capital market operators

The new rules would recognise registered industry trade groups and Self Regulatory Organisations as important parts of the new framework.

Civil society groups hail AU adoption of Mbeki report on illicit financial flows

The groups demand quick implementation of the report.

Group wants new SEC DG removed over approval of Gombe N30billion bond

Allegations blamed on agents of the immediate past governor of the state.

Stranded Arik Air passengers shut down Abuja airport

Passengers said Arik is notorious for arbitrary flight postponement and cancellation and that they are disappointed that aviation authorities have failed to call the airline to order.

Crude Oil pipelines

Slide in oil price: Solid minerals can save the economy, says miners’ chief

MAN says Nigeria needs to diversify its economy.

Buhari pledges to revive Ajaokuta Steel Complex

Mr. Buhari says government has spent almost $5billion on the company, and promises that its fortunes will change for the better as soon as he assumed office.

Court stops BPE from handing over controversial Kaduna Disco to Northwest Power Limited

BPE allegedly refused to invite reserved bidder, Leda Consortium, to complete the share purchase agreement.

AMCON approves acquisition of Enterprise Bank by Heritage

The sale is a landmark transaction in the Nigerian banking sector.

Dwindling Oil Price: CBN devalues naira, raises lending rate

The CBN has also reviewed the lending rate from 12 to 13 percent.

Nigerian Breweries targets 70 per cent market share after merging with Consolidated Breweries

After the merger, the directors say Nigerian Breweries market share is expected to jump 61 per cent to over 70 per cent, as a result of enhanced capacity to manufacture products of both entities.

Circulation of new N100 begins December 19

The new note was unveiled by President Jonathan on November 12.

CBN

13 things bank customers must know about Bank Verification Number

Bank Verification Number is part of Central Bank of Nigeria, CBN’s cashless policy.

Nigeria unveils new ‘digital’ N100 paper note

The new note has features for the visually impaired.

Odinkalu, others sue Nigeria Central Bank for N65 ATM charge

The bank customers say the withdrawal fee is unjust.

EU asks Nigeria to sign trade deal

The EPA is a free trade agreement between countries in the EU and developing economies in Africa and Asia.

New tariff for Nigerian gas begins January 1, 2015

The Commission recently approved an upward review of the gas
price from $1.5 per thousand cubic feet, MCF, to $2.5 per MCF.

Dangote moves 20 spots to become Forbes’ 23rd richest man in the world

Bill Gates is world richest person.

Finance Minister, Ngozi Okonjo-Iweala

Finance Minister constitutes team to address military pension crisis

Military pensioners have been protesting the continued delay in the payment of their pension arrears.