Import waivers: Nigeria loses N585bn in four years
As the Federal Government battles to plug revenue leakages, occasioned by drop in oil prices, revelations emerged yesterday that the nation gave out waivers to the tune of N585 billion…
Lagos orders government agencies to vacate rented apartments
Lagos State Governor Akinwunmi Ambode has directed agencies of the state government occupying rented apartments to vacate them, in a move to block lopeholes and conserve scarce resources. The agencies,…
John Aboh becomes Ecobank Nigeria board chairman
Board of Ecobank Nigeria has elected John Oche Aboh as its new chairman. Aboh, who was recently appointed to the board as a non-executive director, brings with him a wealth…
Blast kills five in Borno market
At least five people were killed by a bomb in Gamboru market in Maiduguri on Friday morning, a policeman and a rescue worker said. Maiduguri, the capital of Borno state,…
Analysts advocate exchange rate determining mechanism for naira float
Analysts have advocated for foreign exchange determining mechanism to allow free float of the naira, which would subsequently reduce forex rate viability to achieve monetary stability. The Central Bank of…
Nigeria, others raise $830m for infrastructure in Africa
Nigeria and some African countries under the platform of Africa50, the new and innovative infrastructure investment platform promoted by the African Development Bank (ADB) held its Constitutive General Assembly on…
Nigerians lose N84m to xenophobic attacks in South Africa
The Nigerian Union in South Africa said on Saturday that Nigerians lost more than 4.6 million Rand (N84 million) to xenophobic attacks . The President of Nigerian Union in South…
Continental Re sees huge growth as Africa’s construction booms
Africa’s Continental Re plans to double premium income from its property and engineering business to $80 million over the next five years, as it bets on the continent’s infrastructure boom,…
Unpaid subsidy: oil marketers threaten to stop importation
The Major Oil Marketers Association of Nigeria (MOMAN) on Friday threatened to stop the importation of petroleum products over yet-to-be-paid N256 billion subsidy claim by the Federal Government. The Executive…
CBN to bar bad debtors from FX market
The Central Bank of Nigeria (CBN) has ordered banks to crack down on borrowers with non-performing loans (NPLs), adding that it would bar debtors from FX market. The move is…