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  • Banks to close branches as recession bites hard

    A number of Deposit Money Banks in the country will close many of what they described as unprofitable branches as the economic recession continues to bite harder, investigation by our correspondent has shown. It was similarly gathered...

    • Posted September 21, 2016
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  • Nigeria will lose $1.3tn to ECOWAS/EU economic pact – MAN

    The Manufacturers Association of Nigeria has declared that the country risks a loss of $1.3tn in tariff revenue if it signs the Economic Community of West African States/European Union Economic Partnership Agreement. The President, MAN, Dr. Frank...

    • Posted September 21, 2016
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  • NBS puts investment inflow at $1.04bn

    The National Bureau of Statistics on Sunday released a revised version of the capital importation report for the second quarter, with estimated investment inflow of $1.04bn. The investment inflow represents an increase of 46.58 per cent over...

    • Posted September 20, 2016
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  • FIRS registers 700,000 fresh taxpayers

    The Federal Inland Revenue Service said it had registered about 700,000 new corporate taxpayers in the last one year in a bid to widen the tax net and boost government revenue. The agency also said it had...

    • Posted September 20, 2016
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  • Nigeria will start getting out of recession in Q4 – Emefiele

    The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has predicted that the nation’s economy will likely come out of recession by the fourth quarter of this year when the result of the various measures...

    • Posted September 20, 2016
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  • FG to probe banks for non-remittance of taxes

    The Federal Government is set to appoint about 150 firms as consultants to probe revenues collected by banks on behalf of the Nigeria Customs Service and the Federal Inland Revenue Service between July 2012 and December 2015....

    • Posted September 20, 2016
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  • Markets watch CBN for direction as MPC meets

    As the Central Bank of Nigeria (CBN) commences its 252nd Monetary Policy Committee (MPC) meeting today, investors would been looking up to the committee for favourable rate decisions that would spur investments as well as stimulate the...

    • Posted September 20, 2016
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  • Minister assures workers won’t lose jobs over concession

    The Minister of State, Aviation, Senator Hadi Sirika, has assured the unions in the aviation industry that no worker will be sacked in the proposed concession programme of the federal government.  The government has set out plan...

    • Posted September 20, 2016
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  • Recession: Investment inflow shrinks by N642bn under Buhari

    The Nigerian economy recorded a total decline of $2.1bn in investment inflow in the first 12 months of the administration of President Muhammadu Buhari. The $2.1bn, when converted based on the N305.5 per dollar official exchange rate...

    • Posted September 19, 2016
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  • BPE advises IBEDC on metering

    The Acting Director-General, Bureau of Public Enterprises, Dr. Vincent Akpotaire, has called on the management of the Ibadan Electricity Distribution Company to source for long-term funds from diverse sources in order to solve the metering challenge and...

    • Posted September 19, 2016
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  • Nigeria drops to seventh position as cocoa producer

    Nigeria has dropped to the seventh position from fourth as a top cocoa producer in the world, according to data made available by the International Cocoa Organisation. The President, Cocoa Association of Nigeria, Mr. Sayina Riman, said...

    • Posted September 19, 2016
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  • Oil hits one-month low, Nigeria plans higher output

    Oil fell to a one-month low in New York on speculation that the resumption of shipments from Libya and Nigeria might add to the global surplus. Futures dropped as much as 2.7 per cent on the New...

    • Posted September 18, 2016
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  • Interbank lending rate rises on cash shortage

    The overnight naira interbank lending rate rose sharply to an average of 40 per cent on Friday, up from 15 per cent last Friday after the Central Bank of Nigeria debited bank accounts for Treasury bills and...

    • Posted September 18, 2016
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  • Inflation rate increases to 17.6%

    The National Bureau of Statistics on Friday said that the Consumer Price Index which measures inflation increased year-on-year from 17.1 per cent in July to 17.6 per cent in the month of August. The bureau in the...

    • Posted September 18, 2016
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