All posts by Ifreke Inyang

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  Insecurity, oil theft dampening Nigeria’s economic outlook — AfDB

  The African Development Bank Group on Thursday said that the drop in oil revenue occasioned by oil theft and pipeline vandalism as well as the security challenges in the North-East might dampen the positive economic outlook for...

  • Posted August 9, 2014
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  FG, Lagos State, Tolaram Group fight over Lekki Deep Sea Port

  The three main promoters of the multibillion naira Lekki deep seaport are at each other’s throat over the ownership and operations of the project. This has led to a twist in the much-touted 2017 commencement of operations...

  • Posted August 9, 2014
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  Bilateral trade between US, Nigeria hits $36bn annually

  Bilateral trade between the United States of America and Nigeria has risen to $36bn annually, just as President Goodluck Jonathan called for more US investment in Nigeria. The president disclosed the late Wednesday in Washington DC. According...

  • Posted August 8, 2014
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  Dangote partners Blackstone, Carlyle in $5bn energy deal

  Africa’s richest man Aliko Dangote has gone into partnership with Blackstone Group LP and Carlyle Group LP, the world’s two biggest private-equity firms, to invest in energy infrastructure in Nigeria and Africa. “They want to invest heavily,”...

  • Posted August 8, 2014
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  Naira falls on importer dollar demand

  The naira fell by 0.43 per cent against the dollar on the interbank market on Wednesday after importers brought forward their obligations to take advantage of a recent rally in the local currency. According to Reuters, the naira...

  • Posted August 8, 2014
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  Union Bank targets 40% loan growth in 2014

  Union Bank of Nigeria Plc aims to boost its loan portfolio by 30 per cent in the second half of 2014, after increasing it by 10 per cent in the first six months. The bank is targeting...

  • Posted August 8, 2014
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  CBN adjusts computation of regulatory capital for banks

  The Central Bank of Nigeria (CBN) has announced the exclusion of non-distributable regulatory reserve and other reserves in the computation of regulatory capital of banks and discount houses. The central bank stated this in a circular with...

  • Posted August 8, 2014
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  GTBank uses Forte Oil network to grow business

  Guaranty Trust Bank Plc has leveraged the reach of Forte Oil’s network of over 500 stations nationwide to further bring banking services such as account opening, cash deposit and withdrawal via ATMs, customer enquiries, bills payment and...

  • Posted August 8, 2014
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  Power: Nigeria, others to get $5bn from W’Bank

  The World Bank Group on Wednesday announced the commitment of $5bn (N800bn) in new technical and financial support to energy projects in six African countries. The countries, which have partnered the Power Africa initiative of the United...

  • Posted August 8, 2014
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  FG approves upgrade of second Niger Bridge

  Vice President Namadi Sambo on Wednesday said the Federal Government had approved the upgrade of work on the second Niger Bridge. According to a statement by Sambo’s spokesman, Umar Sani, the vice president disclosed this while receiving...

  • Posted August 8, 2014
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