Business

World Bank

World Bank cuts Sub-Saharan Africa growth forecast to 2.8%

Nigeria, South Africa and Angola, which make up about 60 per cent of sub-Saharan Africa’s annual economic output, were all facing various challenges.

High tension electric powerlines

Nigeria’s generated electricity drops to 3,522 megawatts

Electricity released, comprising gas-fired and hydro stations, was down by 657.07 megawatts from the figure released on Saturday.

Honda Civic plant used to illustrate the story (Photo Credit: Sky News)

Honda to stop car production in Turkey after 2021

It said it made the decision due to electrification developments in the industry globally.

Oil rig

Oil climbs to 5-month high amid OPEC cuts, U.S. sanctions, Libya fighting

Despite the host of price drivers, there remain factors that could bring oil down later this year.

Finance minister, Zainab Ahmed. [PHOTO CREDIT: Daily Trust]

Nigeria seals N186 million deal with Islamic Development Bank

The official says the grants would be used to address capacity building/equipment and logistics upgrade in the Hajj Commission.

Electricity Meter

NERC to begin mass metering May 1

MAPs shall charge a maximum of N36,991.50 for single phase meters and N67,055.85 for three phase meters.

PENCOM

Pension assets stand at N8.906 trillion – PenCom

The Commission says media report of pension standing at N9 trillion is untrue.

Naira notes used to illustrate the story.

NSE market capitalisation increases by N24 billion

Market indicators reversed negative trend on Friday with a marginal growth of 0.21 per cent.

New World Bank President

World Bank gets new president

The new five-year term will begin on April 9.

Patience Oniha

Nigeria’s public debt climbs to N24.4 trillion

The government says it will borrow more from concessional sources tied to specific projects.

Director-General of the Bureau, Alex Okoh

ALSCON Crisis: BFIG begins contempt proceedings against BPE, DG

BPE DG risks imprisonment for continued defiance of Supreme Court order

GTBank

Bankers’ committee supports export businesses with N200 billion

The committees says it will focus on commodities like palm oil, cocoa, sesame seeds, sheet and cashew.

Naira Notes

Bearish trend persists on NSE, indices down by 0.39 per cent

The market capitalisation which opened at N11.143 trillion shed N43 billion to close at N11.100 trillion.

NPA MD, Hadiza Bala Usman

How we have transformed Nigerian Ports – NPA MD

The NPA says the agency is vigorously enforcing all standards for greater efficiency and service delivery.

International Monetary Fund (IMF)

Nigeria’s foreign exchange restrictions stalling investments — IMF

The IMF says a more flexible exchange rate regime would support inflation targeting.

Babatunde Fowler, FIRS Chairman

How FIRS plans to realise its revenue target — Fowler

FIRS hopes to recover about N750bn from about 55,000 defaulting millionaire taxpayers.

African Development Bank

Why Nigerian, West African economies continue to perform poorly — AfDB

Nigeria’s economic recovery from recession will have positive spillovers for West African region’s growth

President Muhammadu Buhari

Buhari rejects Ajaokuta Steel bill, seven other legislations

The president explains why he rejected the bills.

nigerian_stock_exchange

Profit taking: NSE on Tuesday maintains negative outlook

The market capitalisation dipped N112 billion to close at N11.353 trillion against N11.465 trillion recorded on Monday.

Sterling Bank [Photo: guardian.ng]

Sterling Bank declares N152.2 billion gross earnings

The gross earnings are higher by 14.09 per cent when compared with N133.4 billion declared for the corresponding period of 2017.

President Muhammadu Buhari at the commissioning of the Abuja Airport International Terminal

British Airways, Air France seek extension on new Abuja terminal use

Of the 13 international airlines operating in Abuja, eight have moved into the new terminal.

ALSCON Plant

ALSCON: BFIG writes BPE, threatens contempt proceedings against agency, DG

We have not ‘seen’ your letter, BPE replies BFIG.

Nigeria Stock Exchange

Stock Exchange reopens on downward trend

The market capitalisation, which opened at N11.672 trillion, lost N34 billion to close at N11.638 trillion.

Federal-Inland-Revenue-Service-FIRS.

FIRS in N2bn lawsuit over alleged illegal shutdown of company

The managing director of Mutunci Company Nig. Ltd. says he was asked to pay taxes on monies he never earned.

New logo for Access Bank. [PHOTO CREDIT: Official Twitter handle of Access Bank]

Emir Sanusi, Dangote, others present as Access Bank unveils new logo

Access Bank has acquired Diamond Bank in a merger deal.