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Scarcity: Petrol Sells For N200 On Black Market

As the scarcity of petrol continued on Monday across the country, illegal hawkers of the commodity on the black markets resurfaced in parts of Lagos, ... Full story

FG Confirms MTN's N50 Billion Payment, Negotiations to Continue

South African telecommunication giants have paid a whooping sum of N50 billion to the Nigerian government as part of the fine for disobeying a national ... Full story

Naira Appreciates To ₦310/$1

The naira rose by 17.3 per cent on Tuesday against the dollar at the parallel market to 310 from 375, which it traded on Monday. The ... Full story

Multichoice Slashes Price of DStv Subscription in Nigeria

Multichoice Nigeria on Tuesday announced a slash in the prices of its DStv bouquets as well as introduction of two new sport channels. The new channels ... Full story

Discos Insist On Electricity Tariff Increase

Power distribution companies met briefly with the Nigerian Electricity Regulatory Commission on Monday and insisted that the increase in electricity tariffs across the country would ... Full story

Naira Rises To 375 As Dollar Demand Drops

The naira rose to 375 against the dollar at the parallel market on Monday as the demand for the greenback began to drop. The demand for ... Full story

Fuel Queues Resurface In Abuja

There was a mild scarcity of petrol in parts of Abuja and Nasarawa State on Sunday as motorists formed long queues in filling stations that ... Full story

We’ll Increase Oil Production For Domestic Use —Kachikwu

Nigeria will keep striving to increase crude oil production to meet local demand and not to essentially sell it in the international market, the Minister ... Full story

Dollar Scarcity: 40,000 Jobs Threatened, Food Prices SSoar

The difficulties in getting foreign exchange and the steep fall in the value of the naira are seriously affecting the manufacturing sector, with prices of ... Full story

Local Manufacturers’ll Soon Take Over Nigeria’s Furniture Business –Tawadrous

Egypt-born Michael Tawadrous, MD of VAVA Furniture, Nigeria, tells ‘Nonye Ben-Nwankwo his challenges establishing a business in Nigeria Some Nigerians feel foreigners have come to take ... Full story

School Fees, Medical Bills Eligible For Forex – CBN

The Central Bank of Nigeria says schools fees and medical bills are still among the items that are valid for foreign exchange allocation at its ... Full story

Blackmail Won’t Deter Us, NLC, TUC Tell Discos

The Nigeria Labour Congress and the Trade Union Congress have warned electricity distribution companies against blackmailing Nigerians with threats of blackout following the Senate’s advice ... Full story

Nigeria May Lose 37% Of GDP To Corruption, Says Report

Corruption could cost Nigeria about 37 per cent of its Gross Domestic Product (GDP)   if left unchecked, a report by PricewaterhouseCoopers (PwC), has indicated. This ... Full story

Naira Is Out Of Balance — Rewane

The Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, has described the naira as being misaligned, saying Ghana and South Africa had already ... Full story

FG Sells N195bn T-Bills At Higher Rate

The country sold N195.95bn ($975m) in Treasury bills with maturities from three months to one year in its second auction of the year on Wednesday, ... Full story

N274.3b Budget Signed By Kano Governor

Kano State governor, Dr. Abdullahi Umar Ganduje has signed into law, the state’s 2016 Appropriation Bill, assuring that its implementation would commence immediately. The budget, tagged ... Full story

New Access Lending Framework Approved -IMF

Director of Communications at the International Monetary Fund (IMF), Gerry Rice, has said the Executive Board has approved an important reform to the Fund’s exceptional ... Full story

Despite Oil Price Crash Total Refuses To Cut Jobs

French energy company, Total expects a drop in last year’s results but does not plan to cut jobs as peer British Petroleum has done to ... Full story

See New Rate As Naira Bounces Back Against Dollar

After a long fluctuation in the money market, the nation's local currency yesterday bounced back to recovery against the dollar.  The Naira, on Monday, January 18, ... Full story

Stock Market Loses N5.97tn In 18 Months

The Nigerian capital market has lost over N5.97tn from July 2014 to date, the Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema, has said. He ... Full story

See How Much FG Plans To Borrow In First 3 Months Of 2016

The Debt Management Office has revealed the amount of debt the Federal Government has planned to secure in the first three months of the year.  The ... Full story

Oil Price Falls Again...Check-Out Current Price

The woes of the Nigerian economy seems to be compounding with another record fall in the price of oil in the international market which is ... Full story

IMF Boss Meets CBN Governor, Bank MDs

IMF Managing Director, Ms Christine Lagarde made a case for the financial sector to channel funds to the real sector for economic development that will ... Full story

Banks To Massively Sack Staff In Second Quarter - Rewane

The looming economic crisis rocking Nigeria due to the fall in the price of crude oil in the international market which is the mainstay of ... Full story

5 Countries Crushed By Oil Price Collapse

These top producers of crude oil across the world are currently experiencing downturns in their economies following the over reliance on the dwindling oil proceeds ... Full story

How Radio Biafra Transmitters Were Allegedly Installed On MTN Masts - Federal Government

The Federal Government through the Director of Public Prosecutions, Mr. Mohammed Diri has alleged that MTN assisted Nnamdi Kanu in transmitting radio signals from London ... Full story

MTN Refuses To Pay N780bn Reduced Fine, Drags Nigerian Communications Commission To Court

Africa's telecommunications giant, MTN, is set for a legal showdown with the Nigerian Communications Commission over the fine slammed on the firm which was recently ... Full story

Lagos-Ibadan Expressway: Court Sets Aside Fresh Concession

A Federal High Court in Lagos has set aside the fresh concession agreement on the Lagos-Ibadan Expressway reconstruction project. While delivering his ruling in a suit ... Full story

Power Generation Drops By 1,153MW

The nation has lost 1,153.66 megawatts of power in the last 20 days, worsening the load shedding arrangement that electricity distribution companies have been subjecting ... Full story

New Electricity Tariffs Out This Week - NERC

New tariffs payable by power consumers across the country will be made public this week, the Nigerian Electricity Regulatory Commission has said. NERC said the new ... Full story

Naira Slides To 257 Against Dollar

The naira fell to 257 against the dollar at the parallel market on Thursday. The local currency had traded against the greenback at between 251 ... Full story

Federal Government Approves N407 Billion Fuel Subsidy

 In a press statement on Wednesday, the Minister of Finance Mrs. Kemi Adeosun announced the Federal Government’s approval of a N407.07 billion fuel subsidy to ... Full story

Dollar Sells For N247, Overseas Travellers Whimper

The naira fell against the United States dollar from 243 to 247 at the parallel market on Thursday, a day after the Central Bank of ... Full story

Money Laundering: Central Bank Of Nigeria Plans To Blacklist Nigerian Banks Keeping Looted Funds

Indications have emerged that the Central Bank of Nigeria may begin to blacklist banks that have accounts holding looted public funds.  The Deputy Governor of the ... Full story

End Petrol Scarcity In 2 Weeks, Senate Tells Ibe Kachikwu

The Senate on Thursday asked the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to end the current scarcity of petrol within two weeks. The ... Full story

N1tn Fine: Muhammadu Buhari’ll Decide MTN’s Fate

The Minister of Communications, Adebayo Shittu, said on Tuesday that President Muhammadu Buhari would decide MTN Nigeria’s fate regarding the N1.04tn fine imposed on it ... Full story

Petroleum Tax Falls By N390bn - Federal Inland Revenue Service

The Petroleum Profits Tax collection for the year has dropped by N390bn from a target of N1.48tn to N1.09tn, the Acting Executive Chairman, Federal Inland ... Full story

Banks, Depositors Lose Billions To Hacking, Internal Fraud

As many residents in Abeokuta, Ogun State, prepare for bed on Wednesday, November 6, a sum of N7,000 was dispensed at an undisclosed Automated Teller ... Full story

We Could’ve Sacked Bank CEOs - Central Bank Of Nigeria

The Central Bank of Nigeria on Tuesday said it could have removed the chief executive officers and executive management teams of banks that recently violated ... Full story

How To Succeed As A Real Estate Agent

Real estate investment is a magnetiser. Many people have heard fantastic stories of those who have made it big in real estate and they want ... Full story

South African Telecoms Giant MTN Gets Respite Over $5.2bn Fine

South African telecoms giant MTN has won a respite on the payment of a massive $5.2 billion fine imposed on the company in Nigeria to ... Full story

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