News Reports

Rail tracks connecting Abuja - Kaduna

Nigeria’s rail concession faces fresh hurdle as General Electric reportedly pulls out

The $2 billion project is for two lines connecting cities in the northern part of the country to others in the south.

2019 Presidential aspirant and former vice president, Abubakar Atiku.

I’ll risk inflation to win huge foreign investments — Atiku

Mr Abubakar’s comments have elicited critical reviews by commentators.

Central bank of Nigeria (CBN)

Nigerian commercial banks refund N72bn to customers in 2017 – CBN

The CBN says electronic fraud in banking could hit N6.1 trillion by 2021

Nigeria's ministry of finance building

UPDATED: Nigeria raises $2.86bn bonds to fund budget, other projects

The offering attracted significant interest from leading global institutional investors.

Naira notes

Naira gains 50 kobo against the dollar at parallel market

The Nigerian currency exchanged at N361.5 to the dollar on Tuesday.

Medview Airline

Why our Q3 account was delayed – Medview Airline

Medview is one of Nigeria’s foremost airlines, airlifting about three million passengers and 46 million tons of cargo annually.

The Murtala Mohammed International Airport

Again, power outage frustrates passengers at Lagos airport

Incidences of power outage are becoming a recurring development at the Lagos airport.

MTN Nigeria office

MTN says ‘out of court’ settlement with Nigeria possible over fines

Following the comment, MTN’s shares at the Johannesburg Stock Exchange rose by 1.5 per cent to about 81.11 rand.

FILE PHOTO: Thousands of young Nigerians jostled for 11 job positions in UNTH Enugu, South East Nigeria

Nigeria’s statistics bureau under fire over failure to release unemployment data

The NBS says it has not gotten the necessary funding for such research.

Zimbabwe on map

Zimbabwe invites bids for struggling national airline

Air Zimbabwe, which owes foreign and domestic creditors more than $300 million, was in October placed into administration to try and revive its fortunes.

Director-General, Debt Management Office, DMO, Patience Oniha

Nigerian govt to auction N115 billion bonds on November 21

Nigeria issues bonds to support local bond market, create benchmark for corporate issuance and also fund budget deficit.

9mobile

UPDATED: Teleology takes over Nigeria’s 9mobile

The firm immediately announces a new board of directors for the company.

Skye Bank

Defunct Skye Bank management, directors under investigation – NDIC

NDIC bos says officials of the bank “contributed to its failure by engaging in insider abuse, poor corporate governance and banking malpractices.”

Access Bank building

Access Bank denies merger, acquisition talks with Diamond

Diamond Bank had also denied the rumour.

An oil vessel used to illustrate the story An oil vessel used to illustrate the story

Oil prices rise as Saudi announces supply cut

Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December.

Senator Udoma Udo Udoma

Diversification: Implementation of ‘zero oil plan’ kicks off – Udoma

Mr Udoma says the project has secured early commitments from domestic and foreign investors.

Afreximbank Building

How intra-African trade can grow — AFREXIMBANK VP

The official says there are prospects for economic growth if identified barriers were removed.

MTN

MTN sues Nigerian government; demands N3 billion damages

Hearing of the new suit has been scheduled for December 3.

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

Trading maintains positive mood on NSE, up by 0.37 per cent

Market capitalisation increased further by N42 billion to close at N11.765 trillion against N11.722 trillion on Wednesday.

The Director of Treasury and External Finance, Ministry of Economy & Finance, Morocco, Zaaboul Faouzia at the 18th Afreximbank’s Annual Seminar on Structured Trade Finance in Casablanca, Morocco on Wednesday

AFREXIMBANK outlines criteria for selection of trade finance intermediaries, local agents

An official also speaks on the bank’s efforts to promote intra-Africa trade and development.

The House of Representative in Chamber ... members are notorious for budget mutilation

Reps to present proposed AMCON amendment bill next week – Committee chairman

The bill is seeking to strengthen AMCON to go after its chronic obligors

Pic 11 PMB Visits Ebonyi (2)

Nigeria records reduction in rice importation – CBN

CBN says it allocated no foreign currency for rice importation in 2018.

Central Bank of Nigeria (CBN)

CBN’s new rule on bureau de change operators difficult to implement – Official

The CBN had on November 2 introduced new code of corporate governance rules for BDCs.

President Buhari Presides over FEC by Novo Isioro

FG will no longer bear cost of service charge for TSA payments – Official

Mr Idris said the federal government had spent N16 billion on Treasury Single Account (TSA) transaction cost in two years.

Central bank of Nigeria (CBN)

Two foreign banks shut down Nigerian operations

Foreign Direct Investment also fell sharply.