The Presidency has assured Nigerians, especially the people of the Niger Delta region that President Muhammadu Buhari would soon sign the National Oil Spill Detection and Response Agency (NOSDRA) Amendment bill passed by the National Assembly. Mr Edebor Iyamu, the Senior Special Assistant (SSA) to the Vice President on Niger Delta, gave the assurance at […]
Flight operations were on Wednesday evening disrupted at the Murtala Muhammed International Airport, Lagos, following a power outage. The News Agency of Nigeria reports that the outage occurred at about 6.05pm and lasted for over an hour before it was restored. The situation placed the nation’s busiest airport in total darkness, leaving airline officials, passengers […]
Crude oil futures recovered Wednesday morning in European trading as OPEC considers supply cuts amid less stringent US sanctions on Iranian barrels, but bearish sentiment still clouded over the market amid oversupply concerns. At 1200 GMT, ICE January Brent crude futures were up $1.22/b from Tuesday’s settle to trade at $73.35/b, while the NYMEX December […]
Zenith International Bank on Wednesday dominated the activity chart on the nation’s bourse, accounting for 64.04 per cent of the total volume of shares traded. The News Agency of Nigeria (NAN) reports that the bank sold 288.27 million shares valued at N6.68 billion. Consequently, investors bought and sold 450.14 million shares worth N9.39 billion achieved […]
Nigeria will next week break a 4-year drought for stock market listings when Skyway Aviation Handling Company (SAHCO) starts the process for making its debut on the Nigerian Stock Exchange. SIFAX Group, which wholly owns SAHCO, will sell 406,074,000 shares in the aviation services firm via the stock exchange from 12 Nov to 19 Dec, […]
Billions of dollars in fines owed by South African companies MTN and Standard Bank to Nigerian regulators could increase the risk to South Africa’s financial system, the central bank said on Wednesday. The Nigerian central bank in August accused telecoms firm MTN and its lender Stanbic, a Standard Bank subsidiary, of illegally sending $8.1 billion […]
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Tuesday hinted at current efforts to conduct a maiden remittance household survey as well as establish a remittance legal and regulatory framework for the country. He said remittance statistics in the country gathered from both banking records and staff estimates of informal inflows […]
The President of the Commission of the Economic Community of West African States (ECOWAS) Jean-Claude Kassi Brou has restated the commitment of the Commission to strengthening regional Customs union and an infrastructural upgrade that can sustain the renewed integration efforts within the community. Declaring on the 4th meeting of the Ministers of Finance holding on […]
The Southwest Governors’ Forum has expressed concern on economic and security challenges posed by gridlock in the Apapa port and urged the Federal Government to create alternative routes.The forum said the planned alternative routes linking Tin Can Island through Tomoro Island to Ibafo in Ogun State should be revived urgently. In the interim, it suggested […]
President Muhammadu Buhari has requested the Senate to confirm Mrs Abike Dabiri-Erewa, as Executive Chairman/Chief Executive Officer of Nigeria Diaspora Commission. The request was contained in a letter dated Oct. 24 and addressed to the President of the Senate, Dr Bukola Saraki. Saraki read the letter at plenary on Tuesday. In the letter, Buhari said […]