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…
Trading on NSE closed bearish
Transactions on the Nigerian Stock Exchange (NSE) on Friday closed for the week on a bearish note with the market indicators dropping by 0.03 per cent due to persistent profit…
FBN holding Q1 pretax profit up 8.7 per cent
First Bank Holding Company posted an 8.7 percent rise in its first quarter pretax profit to 26.94 billion naira ($135.38 million) after booking higher lending income. Interest income increased to…
Nigerian interbank rates fall on matured bonds, T-bills
Nigeria’s overnight lending rates halved to an average 6 percent on Friday from 12.25 percent last week after central bank retired large matured bonds and treasury bills in the week,…
CBN orders banks, discount houses to crack down on delinquent debtors
Following the rising trend of non-performing loans (NPLs) in the banking industry, the Central Bank of Nigeria (CBN) has ordered deposit money banks and discount houses to crack down on…