OPEC and its allies reduced oil output in August as a drop in Iranian supply due to U.S. sanctions derailed their attempts to raise production to agreed levels, delegates said on Saturday as the energy producers prepared to hold talks in Algiers. The development further raises pressure on the Organization of the Petroleum Exporting Countries […]
The Nigerian Stock Exchange (NSE) on Friday officially notified the investing public that Skye Bank Plc shares would be suspended from trading on Sept. 24. The exchange gave the notice in Lagos in a statement by Mr Olumide Orojimi, Head, Corporate Communications and Mr Godstime Iwenekhai Head, Listings Regulations. NSE said that the action was […]
The Nigerian National Petroleum Corporation (NNPC) says it has no hidden 470.5 million dollars and Eight billion Naira in any commercial bank as alleged by the Nigerian police. The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, in Abuja on Friday explained that the allegation was not […]
The National Bureau of Statistics (NBS) says the country’s foreign debt stands at 22.08 billion dollars and the domestic debt N3.48 trillion. The bureau disclosed this in its “Nigerian Domestic and Foreign Debt’’ Q2 2018 report released in Abuja, on Friday. According to the bureau, further disaggregation of Nigeria’s foreign debt shows that 10.88 billion […]
Oil prices rose on Friday ahead of a meeting of OPEC and other large crude exporters that will focus on production increases as U.S. sanctions restrict Iranian exports. OPEC and its allies are scheduled to gather in Algeria on Sunday to discuss how to allocate higher supply to offset the shortage of Iranian supplies. Benchmark […]
African Development Bank has asked Canadian investors to pour into the continent, seizing advantage of numerous investment opportunities; advising also that it is time to “change the lens through which Africa is perceived’’. Dr. Akinwumi Adesina, President of AfDB made the call at a meeting with 80 leading representatives of the Canada-Africa Chamber of Commerce […]
The Western Marine Command of the Nigeria Customs Service (NCS), Lagos, said on Thursday that it had confisticated illegal imports worth N81 million in the last one month. Benjamin Binga, the new Comptroller of Customs, Western Marine Command, disclosed this to the News Agency of Nigeria (NAN) in Lagos. Binga said the seizures in Idiroko, […]
US President Donald Trump called on Thursday for OPEC to take action reducing oil prices as many of the group’s key members prepare to meet with their Russian allies in Algeria this weekend. “We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue […]
Shares in South Africa’s MTN rose 5 percent on Thursday, after Nigeria’s central bank said on Wednesday that it was reviewing information provided by the telecoms firm and four banks over a dispute on the repatriation of dividends. “The statement suggests there are some talks going on and the market welcomed the less harsh tone […]