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  • Publicise oil prospecting licences – NEITI tells DPR

    The Nigeria Extractive Industries Transparency Initiative has called on the Department of Petroleum Resources to place all oil prospecting licences and mining leases in the public domain in conformity with global standards. It said there was a...

    • Posted September 5, 2013
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  • Constituency projects’ll be implemented with SURE-P model – FG

    The Federal Government on Tuesday in Abuja stated that lawmakers’ constituency projects as enshrined in the 2013 budget would be implemented in accordance with the model of the Dr. Christopher Kolade-led Subsidy Reinvestment and Empowerment Programme. Under...

    • Posted September 5, 2013
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  • Nigeria, Turkey trade volume hit $1.5bn in 2012

    Bilateral trade between Nigeria and Turkey in 2012, including imports and exports, was estimated to be worth over $1.5bn. The Chairman, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Alhaji Mohammed Abubakar, made the disclosure...

    • Posted September 5, 2013
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  • FG, private sector partner to revitalise oil palm industry

    The Federal Government has promised to work with stakeholders in the oil palm value chain to grow the sub-sector in line with its Industrial Revolution Plan. Mr Olusegun Aganga, the Minister of Industry, Trade and Investment, made the promise at...

    • Posted September 4, 2013
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  • Sanusi laments worsening unemployment situation

    The  Governor   of  the Central  Bank  of  Nigeria, Mr. Sanusi Lamido, on Monday said the current rate of unemployment in the country was worrisome. Sanusi said this in Calabar at the inauguration of the CBN South-South Entrepreneurship...

    • Posted September 4, 2013
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  • AMCON seeks buyers for Enterprise Bank

    The Assets Management Corporation of Nigeria has formally invited interested buyers to express interests in acquiring its 100 per cent stake in Enterprise Bank Limited, one of the three banks nationalised by the Federal Government in 2011....

    • Posted September 4, 2013
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  • Money laundering: FG begins assessment of financial sector

    The Federal Government has commenced an assessment of the financial sector to determine the threats and vulnerabilities of the country to money laundering and terrorism financing. Speaking at a regional training programme for financial and regulatory institutions...

    • Posted September 4, 2013
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  • Banks granted N8.15tn loans in 2012 – NDIC

    The total loan portfolio of the banking sector rose by 12.10 per cent from N7.27tn in 2011 to N8.15tn in 2012, according to the Nigeria Deposit Insurance Corporation’s annual report and statement of account. In the report,...

    • Posted September 4, 2013
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  • Obasanjo advises RMAFC on revenue allocation formula review

    A former President Olusegun Obasanjo on Monday in Abeokuta said the sharing of the nation’s revenue among the three tiers of government must be proportionate to the responsibilities they discharge. Obasanjo said it had become imperative that  ...

    • Posted September 4, 2013
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  • CBN sells forex worth $258.5m

    The Central Bank of Nigeria on Monday sold $258.5m (N40.06bn) worth of foreign exchange at its bi-weekly Wholesale Dutch Auction System. The News Agency of Nigeria reported that the CBN sold $263.67m at the previous WDAS on August 28....

    • Posted September 4, 2013
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  • Capital market recorded N631bn loss in August

    Following an impressive showing in the first half of the year, the performance of equities in the capital market lately has been less cheerful, UDEME EKWERE writes The equities market of the Nigerian Stock Exchange was on...

    • Posted September 3, 2013
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  • Chanchangi begins Yola flight operations

    Airlines Nigeria Ltd., on Sunday commenced daily flight operations from Lagos to Yola International Airport, Adamawa, with an impressive turnout of passengers. Mr Olu Balogun, the Group Public Relations Manager of the airline, told newsmen in Lagos...

    • Posted September 3, 2013
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  • CBN compels banks to buy dollars to halt naira depreciation

    The Central Bank of Nigeria (CBN) on Friday compelled banks to buy dollars at N160.5 per dollar, in a bid to halt the four day depreciation of the naira at the interbank foreign exchange market. The unusual...

    • Posted September 3, 2013
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  • Charcoal, agricultural produce dominate Nigeria’s export

    THE nation’s export between January and May this year was dominated by charcoal and agricultural produce, a trade report by Maersk Nigeria Limited has shown. The report showed that Nigeria’s charcoal export rose by 76 percent as...

    • Posted September 3, 2013
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