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  • CBN raises BDCs’ weekly dollar supply to $30,000, stems naira’s free fall

    In line with its resolve to calm the strong volatility observed in the forex market in the past few weeks as well as save the naira from further depreciation, the Central Bank of Nigeria (CBN) has increased...

    • Posted January 25, 2015
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  • Sambo inaugurates railway operation in Makurdi

    In fulfilment of the federal government’s promise to Nigeria to revamp the railway system in the country, Vice President Namadi Sambo on Friday inaugurated five 68-passenger coach air-conditioned trains in Makurdi Sambo explained that the inauguration of...

    • Posted January 25, 2015
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  • Oil slump: Banks face financial distress

    Falling oil price, which is expected to hit the economy harder later in the year, will make some weak banks to run into financial distress, it has been learnt. Financial distress is a term in corporate finance...

    • Posted January 25, 2015
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  • Contract approval cycles threatens oil projects

    As competition for crude oil and investments in Africa grows amid the plunge in global oil prices, the time it takes for projects to be approved in the country as well as rising insecurity have been identified...

    • Posted January 25, 2015
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  • UBA to expand operations to Angola, South Africa

    The United Bank for Africa Plc (UBA) plans to expand to Angola and South Africa as Nigeria, its largest market, is pummelled by falling crude oil prices. The lender will move to the southern African nations as...

    • Posted January 24, 2015
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  • CBN raises banks’ net Forex trading position to 0.5%

    The Central Bank of Nigeria (CBN) has once more reviewed upward the net foreign position of banks. The central bank in its latest circular titled: “Utilisation of RDAS and interbank funds/review of the foreign exchange trading positions...

    • Posted January 24, 2015
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  • Banks face sanctions over Windows XP

    The Central Bank of Nigeria may sanction banks over their failure to migrate all their Automated Teller Machines from Windows XP to Windows 7 operating system. Findings by our correspondent showed that barely two weeks to the...

    • Posted January 24, 2015
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  • FAAN to double passenger capacity at MMIA

    The Federal Airports Authority of Nigeria (FAAN) has said it would double its passenger capacity at the Lagos and Abuja airports when the new terminals, which are under construction and would be completed early next year, come...

    • Posted January 24, 2015
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  • NBS: Nigerian economy generated 349,343 jobs in third quarter of 2014

    The Nigerian economy added a total of 349,343 jobs in the third quarter of 2014 (Q3 2014), the National Bureau of Statistics (NBS) said on Thursday. According to the latest job creation figures released by the NBS,...

    • Posted January 24, 2015
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  • Uncertainty surrounds TCN privatisation

    The plan by the Federal Government to privatise the Transmission Company of Nigeria is mired in uncertainty as there appears to be no road map yet for the transaction. Consultations meant to prepare the ground for the...

    • Posted January 24, 2015
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  • Fuel subsidy: PPPRA removes pricing template from website

    The Petroleum Products Pricing Regulatory Pricing on Thursday removed the pricing templates of all refined petroleum products from its website. The decision was an apparent reaction to the publication of a story by The PUNCHthat the Federal Government...

    • Posted January 24, 2015
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  • We created N220bn fund to help MSMEs – Jonathan

    The Federal Government designed the N220bn Small and Medium Enterprises Development Fund to tackle the dearth of financial resources available to small businesses and unleash their potential to create jobs and reduce the incidence of poverty. President...

    • Posted January 24, 2015
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  • US group to build 250MW plant in Rivers

    The United States of America-based Missouri American Energy is planning to build a 250-megawatts power plant in Rivers State, the Federal Government has said. The Minister of Power, Prof. Chinedu Nebo, said the plant, when completed, would...

    • Posted January 24, 2015
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  • FG begins procurement process for Ibom Port

    The federal government has started the procurement process for the Ibom deep seaport, Akwa Ibom State. Minister of Transport, Senator Idris Audu Umar dropped the hint at the official submission of the outline business case (OBC) for...

    • Posted January 24, 2015
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