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  • Power firms owe NERC N3bn

    Power firms operating in the country owe the Nigerian Electricity Regulatory Commission a total of N3bn, the Chairman/Chief Executive Officer, NERC, Dr. Sam Amadi, has said. According to him, the debt is due to revenue shortfalls and...

    • Posted November 20, 2015
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  • Ecobank Nigeria’s CEO, Aku resigns

    The Board of Ecobank Nigeria Limited on Wednesday announced that the managing director of the bank, Mr. Jibril Aku, will step down on December 31, 2015. By the bank’s internal policy, Aku, having concluded his five-year tenure...

    • Posted November 20, 2015
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  • Moody’s: Nigeria’s oil output may fall by 2017

    Nigeria’s oil output could drop by as much as 15 per cent in 2017 unless the government attracts more investment and resolves cash shortages at state oil firms, a senior Moody’s analyst said on Wednesday. Africa’s biggest...

    • Posted November 20, 2015
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  • CBN harps on risks of electronic fraud

    The Central Bank of Nigeria (CBN) has alerted on security risks of electronic fraud in the country, but explained that it has beefed up security measures on online transactions, in order to reduce electronic fraud. CBN said...

    • Posted November 20, 2015
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  • N100bn aviation debt: FG to establish airport development fund

    Confronted with a N100 billion debt on assumption of duty last week, the Minister of State for Aviation, Senator Hadi Sirika, on Tuesday hinted that the federal government would set up an Aviation Development Fund (ADF), to...

    • Posted November 19, 2015
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  • Nigeria needs long-term solution to frequent petrol scarcity – Kachikwu

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday said Nigeria would have to find a long-term solution to the frequent scarcity of petrol in service stations across the country, saying that she cannot...

    • Posted November 19, 2015
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  • TSA: We could’ve sacked bank CEOs – CBN

    The Central Bank of Nigeria on Tuesday said it could have removed the chief executive officers and executive management teams of banks that recently violated the Federal Government’s directive on the Treasury Single Account. The CBN said...

    • Posted November 19, 2015
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  • We haven’t received Buhari’s N413bn subsidy proposal –National Assembly

    The two arms of the National Assembly have said that they have not received any proposal from President Muhammadu Buhari on the payment of N413bn subsidy arrears to marketers by the Federal Government. This is, however, contrary...

    • Posted November 19, 2015
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  • First Nigeria-assembled Ford unveiled in Lagos

    Ford Motor Company on Tuesday rolled out its first made-in-Nigeria vehicle, the Ranger, a pickup, which was assembled in Lagos in partnership with its local dealer firm, Coscharis Motors. The unveiling of the new vehicle came about...

    • Posted November 19, 2015
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  • Nigeria’s GDP expands by 2.84%, oil output rises to 2.17mb/d

    The Nigerian economy grew by 2.84 per cent in the third quarter of the year (Q3 2015) compared with 2.35 per cent in the previous quarter, the National Bureau of Statistics (NBS) has said. According to the...

    • Posted November 19, 2015
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  • CBN reads riot act on false rendition of returns by banks

    The Central Bank of Nigeria (CBN) has threatened to impose more penalties on banks and other financial institutions that render false returns as well as those that do not comply with its policies. The Deputy Governor (Corporate...

    • Posted November 19, 2015
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  • Nigeria cannot sustain N1tn spending on food imports – Buhari

    President Muhammadu Buhari on Monday in Birnin Kebbi, the capital of Kebbi State, decried the huge sums spent by the country importing food items that could be produced locally, stating that the N1 trillion importation bill was...

    • Posted November 19, 2015
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  • Marketers demand probe of PPPRA over fuel import allocations

    Some Oil Marketing and Trading (OM &T) companies have accused the Petroleum Products Pricing Regulatory Agency (PPPRA) of operating a regime of secrecy in the quarterly allocations given to marketers to import petrol and appealed to President...

    • Posted November 18, 2015
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  • Again, senior oil workers back conditional subsidy removal

    In a rather sharp contrast to the position of the larger central labour house, the Nigeria Labour Congress (NLC), the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has reiterated its support for the removal...

    • Posted November 18, 2015
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