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  • Why FG shifted from domestic to foreign loans — Adeosun

    The current debt structure that heavily borrows domestically does not support long term growth ambitions of the federal government and so it must be amended, the Minister of Finance, Kemi Adeosun has said. Speaking on Thursday at...

    • Posted February 24, 2017
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  • MTN vows to invest more in Nigeria

    Despite struggling to pay the N330billion fine imposed on it by Nigeria’s telecom regulator, the MTN Group has expressed faith in the country’s economy, promising to put in more investments this year and years ahead. The South...

    • Posted February 24, 2017
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  • FG to tap private capital, boost spending on infrastructure

    The Federal Government aims to increase the proportion of government spending devoted to infrastructure to 30 percent from 10 percent and to mobilise private capital for additional funding, Finance Minister Kemi Adeosun said on Thursday. The government...

    • Posted February 24, 2017
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  • CBN pumps $500m into FX Market, banks take up only $371m

    In keeping with its promise to ease the difficulties encountered by Nigerians in obtaining funds for foreign exchange transactions, the Central Bank of Nigeria (CBN) tuesday carried out special wholesale intervention forward sales in the interbank forex...

    • Posted February 23, 2017
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  • Nigeria, others lose $5.8 bn yearly to corporate tax waivers

    The ActionAid Nigeria (AAN) says Nigeria loses $2.9bn annually to corporate tax waivers. The country director of AAN Ojobo Ode Atuluku who said this Wednesday in Abuja added that apart from Nigeria, Ghana and Senegal lose $2.7...

    • Posted February 23, 2017
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  • IATA suspends Arik from airline’s billing system

    Nigerian largest carrier, Arik Air, which was recently taken over by the Assets Management Corporation of Nigeria (AMCON) following huge indebtedness, has been suspended from the International Air Transport Association (IATA) Billing and Settlement System (BSP). However,...

    • Posted February 23, 2017
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  • CBN changes forex rules, as naira plunges at BDCs

    The Central Bank of Nigeria (CBN) has again changed its rules on foreign exchange allocations for manufacturers and travellers in a bid to ease   scarcity and ensure enough liquidity.   In the new rules released yesterday, the...

    • Posted February 22, 2017
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  • Nuru replaces Balogun as FCMB boss

    The First City Monument Bank Limited (FCMB Limited) has announced Mr. Adam Nuru as its new Group Managing Director effective March 20, 2017, in a new re-organization of the group. Before his new appointment, Nuru was the...

    • Posted February 22, 2017
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  • Forex crisis: Senate asks EFCC to go after CBN, NNPC officials

    The Senate yesterday said top officials of the Central Bank of Nigerian (CBN) are billionaires, and asked the anti-graft agency, the EFCC, to go after them. The senators also said the EFCC should investigate top Nigeria National...

    • Posted February 22, 2017
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  • DPR seizes vessel with impure petroleum product

    The Department of Petroleum Resources (DPR), yesterday  seized a vessel, MT JAZI, loaded with 1.5 million litres of contaminated petroleum product while discharging at Nakem Jetty, Kirikiri, Lagos. Mr Mordecai Ladan, Director, DPR, told journalists in Lagos...

    • Posted February 22, 2017
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  • Fitch affirms 3 UBA subsidiaries ‘B-’, outlooks stable

    Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of United Bank for Africa Cameroon (UBA CAM), United Bank for Africa Senegal (UBA SEN) and United Bank for Africa Ghana (UBA Ghana) at ‘B-’. The Outlooks...

    • Posted February 21, 2017
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  • Aviation fuel shoots to N280/litre

    The slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket,  Daily Trust checks have shown. The price which stabilized in recent times, selling...

    • Posted February 21, 2017
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  • Chamber urges exporters to access CBN loans

    The Jigawa Chamber of Commerce, Industry, Mines and Agriculture (JICCIMA) on Friday urged exporters and businessmen in the state to access loan facilities provided by the  Central Bank of Nigeria (CBN) to improve the country’s economy. The...

    • Posted February 21, 2017
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  • CBN releases additional Forex to banks for school fees, PTA

    The Central Bank of Nigeria has said, as part of its efforts to alleviate the sufferings experienced by Nigerians, who source forex for school fees, medicals and personal traveling allowance (PTA), it has decided to fund banks...

    • Posted February 20, 2017
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