News Reports

Bank chief advocates open account payment for international trade

An open account transaction form of payment means that goods are shipped and delivered before payment is due, usually in 30 to 90 days.


The Nigerian economy and the 2013 inflation outlook, By Ifeanyi Uddin

I would ordinarily step back from any opportunity to wager. Thus, I never cease to wonder at the celerity with which my football-loving friends put their nairas where their mouths are. I am not sure whether this phobia is because chance occurrences make nonsense of rationale processes. Or if it is the product of a […]

Russian firm, UC RUSAL, defies Supreme Court’s order on ALSCON

The Russian firm said it could not accommodate the inspection team set up by the government on ALSCON.


To what and how does today’s MPC meeting respond? By Ifeanyi Uddin

Today, two developments (both of them much trailed) will occur. More precisely, one of these events commences, while the other will be announced. First (and this is not in any specific order) the rate-setting arm (the Monetary Policy Committee — MPC) of the Central Bank of Nigeria (CBN) meets for the last time in a […]

Unreliable infrastructure, fear of fraud slow down Central Bank’s cashless policy

The cash-less policy has numerous challenges.


Debt Office appoints Stanbic IBTC as FGN bond managers

Stanbic IBTC becomes the Federal government bond mangers.


Max Air transports 25 thousand pilgrims to Nigeria

The Airline transported pilgrims from 17 states.


Is the Nigerian economy as healthy as the plaudits it is receiving suggest? ByUddin Ifeanyi

Reading through Standard & Poor’s recent justification for its decision to raise the economy’s foreign- and local-currency sovereign credit ratings, I could not help but wonder whether the policy choices that we made progressing down this path were part of a conscious process of rebuilding our room “for policy manoeuvring  or were the unanticipated result of […]

CBN issues new guidelines on power, airline intervention fund

The apex bank said AMCON will also be allowed to participate in the new guidelines.

Okonjo-Iweala cautions governors against excessive domestic borrowing

Okonjo-Iweala says the governors can damage the economy and put Nigeria in danger by accumulating excessive domestic debts.

Bank chief advises women entrepreneurs on utilizing bank packages

The keynote speech was delivered by Nobel Laureate, Wole Soyinka.

Dealers see stability in Foreign Exchange Market

Naira stabilizes against dollar on CBN’s cashless policy

NCP approves bidders for PHCN successor generating, distribution companies

The preferred bidders will take over the successor companies after completion of payment.

NNPC names New MDs for Port Harcourt, Warri Refineries

The new appointment take place with immediate effect.


Obtaining a Handle on the Domestic Economy, By Ifeanyi Uddin

The Sallah holiday weekend was usual in many ways. Electricity supply was epileptic. The fuel scarcity has held out long enough for an ecosystem to evolve on its back. Long queues if you are minded to pay the recommended retail price (RRP); and often, the supply at such outlets never is enough for the queue. […]

President Goodluck Jonathan

Government to earn N329billion from sale of PHCN successor companies

The sale of the  Power Holding Company of Nigeria, PHCN, successor distribution companies is to fetch the Federal Government more than N197.25billion in revenue. The formal bids opening for 10 of the 11 PHCN successor companies slated for privatization were successfully held Tuesday in Abuja by the Bureau of Public Enterprises, BPE. The bid for […]

Abdusalam Abubakar, Tinubu, Otudeko battle for Eko Distribution Company as BPE opens bids

Bids are to be opened for 11 distribution companies

Flood threatens Nigeria’s hope of rice self-sufficiency

As floods continue to wreck havoc in several States of Nigeria, destroying farmlands growing rice, maize and other crops, reports of damages pouring from all parts of the country point to a severe destruction of agricultural areas, prompting fears of imminent food insecurity. A report compiled by a group of journalists in Abuja who toured […]

CBN seeks collaboration for success of cashless Nigeria

CBN says everyone will benefit from the cashless policy.

CBN’s lending rate strangling private sector

The private sector suffers from CBN’S high lending rate.

Oscar Onyema

Tell truth about your operations – NSE boss charges companies

The NSE boss says organizations should endeavor to publish the information the public needs to know.

Nigeria earns N5.5 trillion in 8 months

Nigeria lost N226 billion to the one-week anti subsidy removal strike held nationwide in January.

UPDATED: Court strikes out order seeking to stop Dana Air crash inquest

The organisation that instituted the suit will now pay N10,000 to the Lagos State government.

Former Bank PHB boss, Atuche, paid N45m tithe with depositors funds-EFCC

Francis Atuche gave two churches in Delta State depositors money to the sum of N45 million.

Otedola, Elumelu, Babangida, others buy four power plants

The Nigerian Council on Privatisation has announced the bid winners for four power plants to be sold to private companies.