Economic Confidential

Kidnappers and their executioners

In April 2013, Senate President David Mark called for the execution of oil thieves and those engaged in bunkering activities. Curiously, he did not call for the execution of those involved in the oil subsidy scam or those politicians...

Guess who is dollarizing the economy!

Any patron of Bureau de Change may find that a difference of about N10 per dollar now exists between the official rate of N155 per dollar ex-Central Bank, and about N165/dollar in the open market!  This is in place...

Kano Pillars wins Nigeria Premier League title

Kano state governor, Rabi’u Kwankwaso has applauded Kano Pillars Football Club for retaining the Glo Nigeria Premier League Cup, after finishing all matches with 63 points to top the league table. In a congratulatory message signed by his Director of...

Power: Eko Disco gets N39.7bn to upgrade infrastructure

The new owner of Eko Electricity Distribution Company, West Power & Gas Limited, has unveiled plans to invest $250m (N39.7bn) to transform the facility and improve its distribution network. The Chairman of the company, Mr. Charles Momoh, said the fresh...

NNPC absolves self of alleged missing N500bn Sure-P money

The management of the Nigerian National Petroleum Corporation, NNPC, has absolved itself from the alleged missing N500 billion Sure-P funds. The Corporation which described media reports linking it to the Sure-P budget as a comprehensive falsehood, noted that it has...

CBN, DERMALOG Seal N8bn Biometric Deal

The Central Bank of Nigeria (CBN) has signed a contract of over $50 million (N8 billion) with DERMALOG Identification Systems for the  deployment and implementation of a biometric system, which would help in resolving issues bordering on authentication, as...
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