News Reports

Amaechi, Enelamah for Nigeria investment road show in London

Five ministers are to attend the event.

CBN

Naira weakens slightly against dollar

Traders at the market say activities at the market were slow because of the prolonged public holiday the previous week.

Court revokes order granted AMCON to take over Jimoh Ibrahim’s businesses

In a short ruling, Justice Anka discharged the interim order, and adjourned the matter till Aug.1 for report.

Five Nigerian ministers head for London for Nigeria, UK investment road show 

Organisers say the event will create a platform for the Nigerian government to profile business opportunities to a UK audience.

How I will run NNPC – Maikanti Baru

Mr. Baru said it was Mr. Kachikwu who recommended him to President Muhammadu Buhari.

CBN

No Nigerian bank is in ‘distress’ — CBN

CBN tries to assuage panic after the sacking of Skye Bank board.

Nigeria oil workers insist on strike, vow to shut down all operations

PENGASSAN says the government has failed to meet it responsibilities to workers.

Godwin-Emefiele

Why CBN replaced board, management of Skye Bank

The CBN says the step is “proactive and unavoidable”.

Tunde Ayeni

Skye Bank’s management, board resign; CBN appoints replacement

In the last few years, the bank has had to trudge through liquidity problems mostly due to non-performing loans.

NNPC Towers

Fuel crisis looms, as oil workers mobilise nationwide strike over unresolved issues

The oil workers said a meeting with government, which was scheduled for June 23, was moved at the last minute to June 30.

A Refinery used to illustrate the story.

Why we stopped buying Nigeria’s crude oil — U.S.

The Minister of State for Petroleum, Ibe Kachikwu, recently said the U.S. would soon resume the importation of crude oil from Nigeria.

SEC warns Nigeria to be wary of ponzi schemes

“How can somebody give you 50 per cent return?”

Sell tickets in Naira, Nigeria warns Foreign airlines

“The regulatory authority has written warning letters to such erring airlines.”

Niger Delta Avengers announces fresh attacks on Chevron, NNPC facilities

All the reported attacks happened in Delta State.

NNPC Towers

NEITI to partner EFCC to tackle financial crimes in Nigeria’s oil sector

NEITI says the Nigerian government has never tried to censor its reports.

Former Guinness MD appointed Fidelity Bank’s Executive Director

Mr. Adetu, who trained as a chemical engineer, has extensive business and marketing experience.

Nigeria-China roadshow fetches $50 billion oil, gas infrastructure development deal — NNPC

The road-show was a follow-up to the earlier working visit of President Muhammadu Buhari to China in April.

Broadband

MTN Nigeria wins 2.6 GHz broadband license, set to deploy 4G LTE internet

MTN acquired the license at about N18.96 billion.

nigerian_stock_exchange

Nigeria equity market slumps further amid increased pressures to sell more stocks

Total Oil recorded the biggest loss, dropping about N10 per share to close at N190 per share.

Minister of Budget and National Planning Senator Udoma Udo Udoma

No more automatic releases of capital votes –Minister

Government agencies must meet set goals to receive more funding.

Bags of rice

Nigeria will be self-sufficient in rice production in 18 months – Buhari

The president says he doesn’t still support the devaluation of the naira.

nigerian_stock_exchange

NSE: BREXIT vote triggers panic sale of stocks, N278bn loss

Investors staked N4.03 billion on 375.22 million shares transacted in 4,229 deals.

Abuja chamber says Brexit portends negatively on Nigeria economy

Britain voted last Thursday to exit EU

Unpaid Debt: AMCON takes over AfriJet Airlines, Vitalis Ibe’s assets

The court orders the police authorities in Lagos State to assist the Receiver/Manager in doing his job.

Fitch Ratings downgrades Nigeria to ‘B+, with stable outlook

The agency says Nigeria’s gross domestic product growth rate would decline from 2.8 per cent in 2015 to 1.5per cent in the current year.