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Thursday, June 27, 2019

FG using 75% of revenue to service debts – IDB

The Islamic Development Bank (IDB) said Nigeria was using 75 percent of its revenue to service debts incurred over the years. The Resident Representative of...

Dangote Cement Named ‘Most Outstanding Company’ of the year

In recognition of its contribution to the Nigerian economy, the Dangote Cement Plc has won the ‘Most Outstanding Company’ of the year award. The Abuja...
President Muhammadu Buhari

Buhari Promises to Remove Multiple Taxation

President Muhammadu Buhari has assured the business community in Qatar that Nigeria will remove any impediment that hinders investment in the country. His media aide,...

Agric Sector Roadmap Ready in 2 Weeks- Ogbeh

The Federal Ministry of Agriculture and Rural Development says its roadmap for the development of the agricultural sector will be ready in two weeks’...

Nigeria begins move to establish national carrier

Nigeria has commenced discussions on partnerships towards establishing a national airline for the country, according to the Presidency. The Special Adviser to the President on...

NNPC causes fuel scarcity –PTD President

National President, Petroleum Tanker Drivers, PTD, branch of National Union of Petroleum and Natural Gas Workers, NUPENG, Salimon Akanni Oladiti, has accused Nigerian National...
electricity

DISCOs may declare force majeure

Electricity distribution companies (Discos) may soon declare a force majeure, the Chief Executive Officer of one of the companies has confided in the Nigerian...
Naira Dollar

Mobile Money Transaction hits N40bn Monthly

With the growing adoption of the cashless policy and increased patronage of mobile money, the Central bank of Nigeria (CBN) has put the value...

Banks pay N6.2tn via 13.5 million cheques

A total of 13.46 million cheques worth N6.19tn were processed by the banking sector in the 2015 fiscal period, figures obtained from the Nigerian...

FG Charges Private Sector Industrial Growth

The Federal Government on Saturday challenged the Organised Private Sector (OPS) to come up with new ideas to turn Nigeria into an industrial giant. The...
Naira Dollar

CBN reshuffles directors to curb Forex crisis

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has reassigned some of his directors in apparent response to the current foreign exchange (forex) crisis...
Naira Dollar

Oil slump: W’Bank, FG set to assist states

The Federal Government and World Bank have formed a partnership aimed at assisting state governments to grapple with the effects of the financial challenges...

Reps, Finance Minister, others to meet over budget

To resolve the inconsistencies and alleged padding of the 2016 budget proposal discovered by various Standing Committees during interface with the Ministers and Heads...

IMF disagrees with Buhari, insists on naira devaluation

The Central Bank of Nigeria needs to devalue the naira by adjusting the official exchange rate of N199/dollar to a more market-determined exchange rate,...
Naira Dollar

Non-oil exports revenue slide to $1.6 billion

Following the inability of Federal Government to revive incentives for non-oil exporters, proceeds from the sector has continued to witness a southward trend, as...

Senate Chides DSTV Over Sharp Practices

The Nigerian Senate has expressed dissatisfaction over the perceived spate of impunity surrounding the operations of Multi-choice Nigeria, a subsidiary of South African-based Multichoice...

MTN Nigeria pays N50b to FG

MTN Nigeria said it had paid N50 billion to the Federal Government as it continues negotiation outside the court. The company added that it has...

NSE re-appoints Onyema for another five-year term

The Nigerian Stock Exchange has announced that the council of the NSE has renewed the contract of agreement of its Chief Executive Officer, Oscar...

$24bn oil deals: Diezani refutes allegation

Former Minister for Petroleum Resources, Mrs. Diezani Alison-Madueke, has described the narratives of her former group managing directors, GMDs, Nigerian National Petroleum Corporation, NNPC,...

CBN to Strengthen DFIs, Launches Final Operating Guidelines

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has reiterated the bank's commitment towards making the Development Finance Institutions (DFIs)...