British Airways and Lufthansa Airlines have joined the list of foreign airlines rejecting the option of flying into Kaduna Airport during the six weeks of runway repair of the Nnamdi Azikiwe I

Naira crash set to all time low of 350/ USD The sharp and steady depreciation of the Naira at the inter-bank foreign exchange market in the last one week has forced the Central Bank of Nigeria,

Investors lose N17bn as bears continue rampage Investors in the Nigerian Stock Exchange, NSE, last week lost N17 billion as bears continue to tighten grip in the market. At the close of trading

SAVANNAH BANK: An ordeal of a Nigerian Financial Institution Savannah Bank license was withdrawn in February 2002 in a decision many saw as politically motivated due to difference between the maj

It’s official… naira now Africa’s worst performing currency of 2016 The Nigerian naira took a dive on Thursday at both parallel and official markets, becoming the worst perform

Insurance firms need to recapitalise— Adeosun NINE years after the last recapitalisation exercise in the nation’s insurance industry, the Minister of Finance, Mrs. Kemi Adeosun, yeste

Otedola, Adenuga’s firms, 3 others lose N265.4 b in 6 months  …Investors regain N314.74 bn as stock market value hits N10.2 trn in June …Shareholders decry neglect of r

Airlines now free to fix fares, other charges – NCAA The Nigerian Civil Aviation Authority says all airlines’ tariffs for services rendered, which include fares, rates, add-on charges

Firms spent N97.9bn on advertisements in 2015 – Report Despite the economic crunch of 2015, the total advertising spend in the country rose to N97.9bn last year, according to the 2015 Media

Mahama blames sabotage in Nigeria for Ghana’s electricity shortfalls The president of Ghana, John Mahama yesterday explained that the intermittent power outage experienced in his country wa

CBN clears Nigerian Banks, says none is in distress  Nigeria’s Central Bank has given the local banks clean bill of health, as it declared  Wednesday night that none of them is in

Skye Bank’s new GMD explains CBN action, assures customers of funds safety Abiru spoke after taking over from his predecessor, Timothy Oguntayo The new Group Managing Director/Chief Execut

Nigeria's oil minister replaced as state oil company boss Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC

Stop selling tickets in foreign currencies – NCAA warns airlines The Nigerian Civil Aviation Authority (NCAA) has warned all airlines selling flight tickets in foreign currencies in Nigeria

BREAKING: CBN takes over Skye Bank The Central Bank of Nigeria, CBN, has taken over one of the nation’s commercial banks, Skye Bank pending when a buyer is found. This was after it dissolve

Oando records N4.1b net profit in three months Oando Plc’s operational reports and audited financial statements indicate that the leading indigenous energy group recorded a net profit

Edo registers 50,000 farmers for CBN loan The Edo State government has screened and registered no fewer than 50,000 farmers for the Central Bank of Nigeria loan in the 2016 cropping season. Mr A

CBN empowers 1,500 youths with N2.5b entrepreneurship loan Emefiele said entrepreneurship among Nigerian youths had been hindered by low capacity and funding, which has made many of them opt for

FIRS Seals Ifeanyi Ubah's Capital Oil For Evading Tax The Federal Inland Revenue Service (FIRS) on Monday shut down tax defaulting companies in Lagos State and Imo State. In Lagos, the premises

How to acquire landed property with little or no money The simplest and easiest method of buying properties is to pay cash. The seller is happy and you are happy. There is no need for extra paper

Oil production rises as unions meet FG over strike threat Nigeria’s oil production has risen to 1.9m barrels a day (b/d) and should rise to 2.2m by July end if pipeline repairs are complete

FG to fast-track strategies to ease doing business in Nigeria, Buhari assures  President Muhammadu Buhari, Monday reassured that the Federal Government would fast-track the impleme

100 Bank Debtors Owe N953bn – AMCON the list of 100 chronic bank debtors released by Assets Management Corporation of Nigeria (AMCON) shows that they owe a total of N953.43 billion. Last w

Sterling Bank Introduces Flexible Work Conditions for Staff Sterling Bank Plc said it has come up with a policy to promote work-life balance among its staff as it continues to strive to build a g

Pound falls further in Asian trading on Monday The pound has fallen sharply in trading in Asia on Monday, adding to Friday's record one-day decline. Sterling was trading at $1.3365, down almost

Africa's richest man has a big plan to fix one of Nigeria's biggest problems Africa's richest man, Aliko Dangote, plans to launch Nigeria's first private crude oil refinery by 2019 while almost d

Activities of Niger Delta militants reduced FG’s revenue by N16.2bn in May – Minister of Finance, Adeosun Finance Minister, Kemi Adeosun, has declared that activities of the Niger Del

Shares and pound plunge on Leave vote The London stock market has plunged more than 8% in the wake of the UK's vote to leave the EU. In the opening minutes of trade, the FTSE 100 index fell more

Lifeline for non-oil exporters For long, access to low interest credit remained a pain in the neck for operators in the non-oil export business. Because of declining export credit, most of them c

Stocks gain N242bn, naira appreciates at interbank Nigerian stocks sustained its positive bearing yesterday as trading activities by investors yielded N242 billion gain at the close of the market.

Nigeria naira ends with first daily gain since peg ditched Nigeria's naira firmed to close at 281.50 to the dollar on Wednesday, its first daily gain since the central bank ditched its 16-month o

Revenue rises by N24bn as FG, states, LGs share N305bn in May Revenue accruing to the federal, states and local governments went up significantly in May 2016 by N23.628 bn. Following this, the f

Nigerian naira devalues 23 percent after currency peg ends Nigeria's naira devalued 22.7 percent against the U.S. dollar on Monday as interbank market trading began following the removal of a cen

Why MTN’s N1.04tr fine was cut to N330b, by minister The Presidency and the Senate are heading for a showdown over the reduction of the N1.04 trillion fine imposed on MTN Nigeria first

As CBN Unchains Forex Market Finally, the Central Bank of Nigeria (CBN), has done the needful in the foreign exchange market, but not before some companies have collapsed, a few relocated, and wo

Nigeria’s foreign debt rises by $7.18bn in 10 years Ten years after Nigeria’s historic exit from the Paris Club of Creditors, the country’s external debt balance has climbed to

BREAKING…CENTRAL BANK ANNOUNCES NEW FOREIGN EXCHANGE POLICY The Central Bank of Nigeria (CBN) has officially announced a new foreign exchange policy and has listed some implications of the

Banks to limit daily withdrawals to N10,000 per day The Banks have asked the CBN to limit daily withdrawals to N10,000 per day from what I have just read. I don't know what these guys smoke befor

Nigeria FX confusion persists, damaging investor, business sentiment A two-week silence from Nigeria's government and central bank on further details or even a timescale for naira liberalisation

Forex policy uncertainty pushes naira to 357/dollar The naira dropped against the United States dollar at the parallel market from 355 on Friday to 357 on Monday, foreign exchange traders said.

The end is naira: Nigeria’s currency Kemi Adeosun must be sick of answering questions about a policy she can’t control. The finance minister will do little else today, when she discu

Eni stops 65,000 barrels per day crude production after pipeline attack in Bayelsa Eni, the parent company of Nigerian Agip Oil Company, NAOC, said the oil firm’s production had been cut sh

VIDEO: ‘OPEC Is Back’ With Renewed Focus on Unity, Says New Chief Producer group will regain the confidence of the oil market Perception of divisions within the group was a concern

For a Lesson in Precisely How Not to Do an IPO, Look at Ghana Ghana sale reopened to seek new buyers after deal had closed Delays may curb growth hopes for Africa’s stock markets It w

Ghana's Cocoa Industry, Agriculture Subsidy and Lessons for Nigeria Each time I visit Ghana, I see a country that is stable, peaceful and developing. You are not likely to see ostentatious displ

Ecobank Nigeria fires 1,040 workers The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of i

British Airways Evaluates Its Nigeria Routes on Traffic, Dollar Sister brand Iberia stopped flying to Lagos on May 12 United Airlines plans to halt Nigeria service at end of June British Ai

United Airlines is canceling flights to Nigeria as the dollar crunch bites Chicago-based United Airlines is the latest casualty of Nigeria’s economic slowdown as the company has announced t

Oil tests out $50 a barrel as supply concerns resurface Oil prices tested the $50-per-barrel mark on Thursday as production outages brought a faster-than-expected recovery to an oversupplied mark

Building Soil-less indoor Eco-farms in Nigeria, the Panacea for food self sufficiency, using the Japanese model Although farming makes less than 2% of the GDP of Japan, it’s gross agricultu

No better time to diversify Nigerian economy than now — Buhari With the Central Bank Nigeria (CBN) already taking steps to reverse the recession in the Nigerian economy, President Muhammadu

Nigeria Needs Prices That Work toward economic sanity Tuesday by announcing plans to let its currency weaken. Africa’s largest economy is facing recession, and exchange-rate flexi

Nigeria adopts new forex policy as economy faces “imminent recession” To begin to reverse what its governor, Godwin Emefiele, called “imminent recession” in the Nigerian e

We need forex to import petrol –Oil marketers Oil marketers on Friday called on the Federal Government to assist in making foreign exchange available for the importation of petroleum produc

'Niger Delta Avengers': Who they are, and what they want After seven years of relative peace, one of the world's most oil-rich regions is once again under siege by militants. And though Nigeria i

Nigeria's Leading Doll Brand is Coming to America “Empowering the African girl child” is the motto of Queens of Africa; a Nigerian brand of dolls founded by Taofick Okoya in 2007. The

Domestic flights in Nigeria disrupted by fuel shortage -aviation authority Fuel shortages have caused an increase in cancellations and delays to internal flights in Nigeria over the last few days

Nigerian militants are controlling the world's oil prices right now Oil prices are close to hitting $50 per barrel for the first time since November — but it has nothing to do with Saudi Ar

Chelsea and Nike just confirmed the second biggest kit deal in the Premier League Chelsea FC and Nike have agreed a new kit deal worth $60 million ($87 million) a year, according to the Telegraph

Nigeria is ‘huge risk’ to oil market: Analyst With Nigeria's oil production reportedly hitting a more than 20-year low, one oil analyst tells CNBC why the country's oil dilemma should