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  • Naira Slips at CBN’s twice-weekly auction

    Nigeria’s naira depreciated to the weakest in almost two months against the dollar at a foreign- currency auction today after the central bank failed to meet demand that rose to highest level this year. The currency of...

    • Posted August 16, 2011
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  • NNPC to Take $2 Billion Loan From Japanese Companies to Fund Brass LNG

    Nigeria NNPC plans to take a $2 billion loan on concessionary terms from a group of Japanese companies led by the Japan Bank for International Cooperation to fund its equity in Brass LNG project, a company spokesman...

    • Posted August 15, 2011
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  • India seeks more crude oil, gas from Nigeria

    New Delhi, Aug 15 (IANS) India has asked hydrocarbon-rich Nigeria to allocate more oil and gas to India and help it in its energy security efforts. ‘India has expressed its interest to procure a portion of the...

    • Posted August 15, 2011
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  • CBN Guidelines on Point of Sale (POS) Card Acceptance Services

    In preparation for the take-off of its policy on cash withdrawal limit, the Central Bank of Nigeria, CBN, has issued guidelines for payment of goods and services through Point of Sale Terminal (PoS). Among other things the...

    • Posted August 15, 2011
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  • Nigeria is eating beyond its means – Agriculture Minister

    The Federal Government weekend disclosed that N991 billion was spent in the year 2010 for the importation of rice and wheat in the country. Minister of Agriculture, Dr. Akinwunmi Adesina, disclosed this at the International Institute of...

    • Posted August 15, 2011
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  • PIB Designed to Reduce Government’s Revenue – NEITI

    The Nigeria Extractive Industry Transparency Initiative (NEITI) has warned that Nigeria will lose $3 billion petroleum revenue yearly if the National Assembly passes the Petroleum Industry Bill (PIB) as amended by law makers. NEITI said the limit of government’s...

    • Posted August 15, 2011
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  • Okonjo-Iweala will resume duties this week – Reuben Abati

    Former World Bank managing director Ngozi Okonjo-Iweala will arrive back in Nigeria to be sworn in as finance minister this week, the presidency said on Sunday, a month after the rest of President Goodluck Jonathan’s cabinet was...

    • Posted August 15, 2011
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  • BPE Probe: World Bank report is nonsense – El Rufai

    Damning reports emerged yesterday at the Senate Ad-hoc Committee investigating the activities of the Bureau for Private Enterprises (BPE), as a World Bank report between 1999-2003 indicted a former Director-General of BPE, Mallam Nasir el-Rufai, for the lack of proper internal...

    • Posted August 14, 2011
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  • Sterling Bank Signs TIA to Acquire ETB

    The future of Equitorial Trust Bank (ETB) – one of the 10 banks bailed out by the Central Bank of Nigeria (CBN) in 2009 – was settled yesterday, with its acquisition by Sterling Bank Plc. Of the...

    • Posted August 12, 2011
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  • UAC plans to turn its restaurant business into a subsidiary

    Nigerian conglomerate UAC plans to turn its restaurant business into a subsidiary by year end and has signed a management agreement with a global partner, in a move to grow its market share, its chief executive said...

    • Posted August 11, 2011
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