Cameroon has been stripped of the right to host the 2019 African Nations Cup finals due to delays in preparations for the tournament and security concerns. The Confederation of African Football (CAF) confirmed the unanimous decision after a meeting of its executive committee in Accra on Friday. Morocco is the favourite to take over the […]
Nigeria’s Diamond Bank said on Friday it plans to pay off a $200 million Eurobond due in May with dollars generated from operations and has no plan to refinance the debt. The mid-tier lender also said it has received approval from the central bank to operate only in Nigeria, in a move to lower capital […]
OPEC oil supply has fallen in November from a two-year high due to U.S. sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the UAE in response to calls from U.S. President Donald Trump. The 15-member Organization of the Petroleum Exporting Countries […]
President Muhammadu Buhari will depart Abuja Saturday for Katowice, Poland, to attend the 24th session of the Conference of the Parties (COP24) under the UN Framework Convention on Climate Change (UNFCCC). This information is contained in a statement issued by the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, in Abuja on Friday. […]
Nigeria’s military will not be able to receive the already paid-for 12 A-29 Super Tucano aircraft until 2024 from the United States. Reports said the United States Department of Defence has just awarded a $329 million contract to the Sierra Nevada Corporation to manufacture the planes for the Nigerian Air Force (NAF), months after Nigeria […]
The downward trajectory of distillate crack spreads in Europe since mid-November is starting to put pressure on Nigerian crude oil grades Forcados and Bonga, traders said. With the Nigerian January export loading programs for Forcados, Bonga and Erha quite large, sources said a slowdown in demand for distillate-rich grades will make it difficult for crude […]
The spread of polio must still be classified as a public health emergency because, while progress been made towards wiping out the disease, that progress is fragile, the World Health Organization said on Friday. “We are so close to the elimination of polio, but we have to use all of our international tools to achieve […]
The Nigerian central bank plans to boost its dollar sales to exchange bureaus after the currency weakened sharply on the black market. On Thursday, the naira weakened by 1 percent on the black market to 370 per dollar, its weakest since August 2017. The Central Bank of Nigeria (CBN) said on Friday it would introduce […]
By Foster Obi Management of the Nigerian Ports Authority (NPA) has appointed Engineer JattoAdeiza Adams as its chief spokesman. A press statement signed by Isah Suwaid Asst. General Manager Corporate & Strategic Communications said this has become necessary to further reinvigorate the Authority’s operations and reengineer the process of dissemination of information towards an efficient […]
Federal Government has announced that it has disengaged from the membership of over 90 organisations that are not relevant to the economic policy of the President Muhammadu Buhari administration. Speaking at a workshop organised by the African Trade Insurance (ATI) agency in Abuja, the Minister of Finance, Ms Zainab Ahmed, said the government came to […]