Nigeria’s central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar […]
By Foster Obi Africa’s richest business magnate, Alhaji Aliko Dangote, has said that doing business in any other part of the country is hell describing Lagos as the most convenient and peaceful state for doing business. Dangote made this remark at the forum “Lagos Means Business,” organized by the Lagos state government. “I am not […]
By Foster Obi Hope of sustained availability of petrol at filling stations may have been rekindled with the arrival of eleven vessels at the Lagos ports carrying various products, including petrol. From the Nigerian Ports Authority daily ‘Shipping Position’ the ships are waiting to berth at the various ports. From the daily report, nine of […]
Chief executive of Japan’s Kobe Steel has resigned after a data falsification scandal. Hiroya Kawasaki said he would step down, as the firm released a long-awaited report into the alleged fraud. It confirmed that staff had changed or made up data on the quality of some of its products before they were shipped. According to […]
— As FMDQ Admits 7-Year FGN Roads Sukuk to its Platform Nigerian Equities Market closed the month of February 2018 slightly lower as NSEASI dipped by -2.28% as against +15.95% uptrend recorded in the month of January 2018. Markets YTD return stands at +13.30% at the end of the month under review. The Nigerian Stock […]
By Foster Obi Nigeria’s effort at developing a value-driven Nigeria movie industry moved a notch yesterday with the launch of ‘Nollytaiment,’ a blockchain technology designed to power a new movie entertainment ecosystem. The technology is financed through the Nollycoin , which is the official coin to access and purchase products in the Nollytainment ecosystem. At […]
An Italian court in Milan on Monday postponed till May 14 the start of a trial of executives of Royal Dutch Shell, ENI and former Nigerian oil minister, Dan Etete, over alleged bribery in connection with the sale of an oil block owned by Malabu Oil. The case involves the 2011 purchase by Eni and […]
Reality Tv star Khloe Khardashian said she is expecting a daughter. The 33-year-old entrepreneur took to Twitter to share the gender of her baby. “God gives us what we need! His timing is never wrong,” she said. I am now so excited my daughter will have forever best friends with Chicago and Stormi! God is […]
Governor Godwin Emefiele said last month the Central Bank of Nigeria may reduce its benchmark from a record-high 14 percent before July if inflation drops closer to single digits. But with fuel costs surging and government spending swelling before next year’s election, he may struggle to reach that threshold at a time when the pace […]
President, Islamic Development Bank (IDB), Bandar Hajjar said Monday that the organization will soon launch a $2.5 billion sukuk bond. At a briefing at the London Stock Exchange, the President said the IDB’s funding plan for first half 2018 was the largest since the bank’s inception and the sukuk’s proceeds would support spending on infrastructure, […]