News Reports

Volkswagen factory (Photo credit: RT.com

Volkswagen spearheads workshop to make Nigeria automotive hub

The workshop was organised for Nigeria and Volkswagen to agree on the next steps.

Afreximbank Building

Afreximbank records $546.6 million gross income

The bank also recorded a net income of $172.4 million during the period, which was 11.9 per cent higher than 2017 record.

NDIC building

Why depositors in liquidated Nigerian banks haven’t been paid – NDIC

The suffering of the depositors would continue unless the NDIC enabling Act is speedily amended by the national assembly.

Central Bank of Nigeria (CBN)

Why CBN is controlling monetary rates for 14th consecutive time – MPC

Foreign reserves down from $42.6 billion in September to $41.53 billion on November 16.

nigerian_stock_exchange

Zenith Bank drives trading on NSE

The bank accounted for 605.54 million shares worth N14.53 billion followed by Transcorp.

Oil rig

Oil bounces above $63 after slide, but glut worries persist

Brent crude, the global benchmark, was up 92 cents to $63.45 per barrel.

Minister of Trade and Investment, Okechukwu Enelamah

Nigeria signs $60mn development partnership with UNIDO

The partnership is for inclusive and sustainable industrial development in Nigeria for 2018- 2022.

United States flag used to illustrate the story. [Photo credit: World Atlas]

U.S. banking sector reports $62bn profit in Q3

Only 3.5 per cent of banks reported net losses, down from four per cent a year ago.

Carlos Ghosn (Photo Credit: Al Jazeera)

Nissan shares slump after arrest of chairman Carlos Ghosn

The embattled official was arrested and would be fired from Nissan’s board this week, the company said.

Yobe on map

Yobe govt. promises to sustain immunisation coverage

The governor said the improvement in security had provided opportunity to reach more women and children for coverage in remote areas.

NCC Headquarters used to illustrate the story.

NCC decries telecoms operators’ non-compliance to AOL

The commission says it has been inundated with complaints by subscribers on non-compliance with directions on data roll-over.

Central Bank of Nigeria (CBN)

CBN reschedules monetary policy committee meeting

An official explains the reason for the shift.

A Bureau De Change, BDCs, operator

Forex: CBN injects $318.03m into retail market

This is the latest funding prior to the final MPC meeting for 2018.

FCMB used to illustrate the story. [Photo credit: Eagle Construction Limited ECL Abuja]

FCMB partners WSBI to boost financial inclusion in Nigeria

The memorandum outlines a framework to deepen agency banking, financial inclusion and savings culture in the informal and agribusiness sectors.

President Muhammadu Buhari

Buhari pledges more employment opportunities for citizens

The policies initiated by the federal government by abrogating monopoly, thereby allowing IOCs use any facility in Nigeria, yielded immediate positive result for the Nigerian economy.

nigerian_stock_exchange

Capital market committee approves plan to introduce e-IPO

The commission has also announced deadline extension for investors to regularise multiple accounts.

Railway

Why General Electric pulled out of Nigeria’s railway concession arrangement

The railway concession project was worth around $2 billion.

Naira notes

Naira appreciates against dollar at investors’ window

The Nigerian currency exchanged at N363.90 to the dollar and stronger than N364.23 posted on Wednesday.

nigerian_stock_exchange

All-Share Index drops to 31,000 mark

The market capitalisation which opened at N11.722 trillion shed N89 billion to close at N11.633 trillion against N11.722 trillion on Wednesday.

President Muhammadu Buhari 2

Buhari approves renewal of three oil licences for Seplat till 2038 – Official

The official assures the company would now invest in the Nigerian oil and gas industry with confidence.

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.