The naira has lost all of its values as $1 sold for N405 on Wednesday at parallel market after Central Bank of Nigeria imposed forex ban on Nine banks. The naira, which traded around 396/$1 […]
The EU and Portugal have agreed on a 4.6-billion-euro deal to recapitalise the state-owned Caixa Geral de Depositos (CGD) bank, the European Commission said Wednesday. The deal was approved by European Union competition chief Margrethe […]
Babatunde Fashola, minister of power, works and housing, says the seeds of Nigeria’s economic recession was planted during the administration of President Goodluck Jonathan. Jonathan led Nigeria between 2010 and 2015. The minister attributed the present […]
President Uhuru assented to the law capping interest rates on bank loans ending days of guessing by the public. The President in his statement after endorsing the bill said Kenyans had bee disappointed and frustrated […]
The Emir of Kano, Alhaji Muhammad Sanusi, on Wednesday attributed the current economic recession in the country to inability of the past administrations to diversify the economy. He made the remark while delivering a lecture […]
The National Agency for Foods and Drugs Administration and Control (NAFDAC) has alerted Nigerians of the prevalence of fake alcoholic drinks, especially dry gin, in the nation’s markets. Dr Abubakar Jimoh, its Director, Special Duties, […]
The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. Naira has depreciated 37 percent against the dollar since the central bank abandoned its peg […]
The United Nations Sustainable Development Goals (SDGs) offer global companies new opportunities for innovation and growth amid a sluggish world economy, according to a senior UN official. SDGs offer inspiration for companies and help them […]
Nine of the deposit money banks in the country have been banned from further foreign exchange transactions for their refusal to remit outstanding $2.334 billion Nigerian National Petroleum Corporation (NNPC) funds in their coffers. The […]
Manufacturers and other private sector operators on Tuesday painted a gloomy picture of how the foreign exchange restriction placed on 41 items by the Central Bank of Nigeria had affected operations in the business sector. […]
Nigeria’s Central Bank has barred nine commercial banks from all foreign exchange transactions and operations. CBN Governor, Mr Godwin Emefiele CBN Governor, Mr Godwin Emefiele The banks were barred for hiding some $2.12 billion belonging […]
Oil prices fell on Tuesday, extending the previous session’s sharp losses caused by prospects of another increase in supplies. Around 1200 GMT, Brent North Sea crude for delivery in October had lost 36 cents to […]
THE Organised Private Sector (OPS) yesterday hailed President Muhammadu Buhari’s move to seek emergency powers to push his government’s planned stimulus for the economy. According to the plan, the government is expected to send […]
When fully implemented, the Intended National Determined Contribution (INDC) and the Paris Agreement on Climate Change will grow Nigeria’s economy by five per cent yearly. It will also improve standards of living and electricity, and […]
Companies belonging to Donald Trump have at least $650 million in debt, more than twice the amount shown in public filings made by his presidential campaign, the New York Times reported Saturday. The paper employed […]
Facebook CEO Mark Zuckerberg has sold a very small portion of his Facebook stock. Mark sold 768,000 shares which was worth more than $95 million this month. The sale was made in accordance with Mark’s […]
The Reserve Bank of Malawi (RBM) says it has set its target of achieving six months import cover and single digit inflation by 2018. The development comes at a time when the country is struggling […]
The federal government on Friday said it was pursuing an aggressive spending stimulus plan to reflate the economy and set it on recovery path. Minister of Finance, Kemi Adeosun, told reporters that since the 2016 […]
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