The West African Examinations Council (WAEC) has recorded mass failure in its 2019 West African Senior School Certificate Examination (WASSCE) for private candidates held in January. This is the second time the examination body will record mass failure in its January examination since its introduction in 2018. Announcing the results in Lagos on Tuesday, the […]
The Central Bank of Nigeria (CBN) has placed a ban access to foreign exchange for all forms of textile materials on the FOREX restriction list, the bank’s governor, Godwin Emefiele, announced in Abuja on Tuesday. Mr Emefiele made the announcement during a meeting with textile industry operators. He said the policy would take effect immediately. […]
The head of Nigeria’s central bank is likely to exit in June and would take leave from this month before stepping down at the end of his five-year term, a move that could alter the path for interest rates and the currency, sources said on Monday. Godwin Emefiele has kept interest rates high at 14 […]
Nigeria’s Access Bank said on Tuesday it had received shareholders’ approval to take over rival Diamond Bank in a $235 million deal that would create Africa’s largest bank by customers. Access Bank said both banks would operate under the new Access Bank brand from April 1. In December, Access had agreed to buy mid-tier lender […]
Some insurance firms have been flouting the Nigerian Insurance Industry Database, NIID, data upload requirement thereby exposing vehicle owners to harassment from officials of Vehicle Inspection Service, VIS, in Lagos. It was gathered that about 14 out of the 40 insurance companies underwriting motor insurance in the insurance sector have consistently defaulted in uploading data […]
The nation’s crude oil export has suffered a setback following the shutdown of the Nembe Creek Trunk Line, one of the major crude oil transportation channels used for export. The NCTL, which is 100 kilometres long and has a capacity of 150,000 barrels per day at Nembe Creek, evacuates crude to the Bonny Crude Oil […]
The Human and Environmental Development Agenda (HEDA) has called for the probe of Okechukwu Enelamah, minister of indusry, trade and investment, for allegedly mismanaging a $160 million World Bank project. In a petition to the Economic and Financial Crimes Commission (EFCC), HEDA said the minister was accused of unlawfully diverting $35 million, part of money […]
The Nigeria Extractive Industries Transparency Initiative (NEITI)said that Nigeria lost at least $16 billion in ten years due to non-review of the 1993 Production Sharing Contracts, (PSC), with oil companies. This was one of the highlights of the latest report by NEITI released in Abuja Sunday. It was tagged “The Steep Cost of Inaction”. It […]
The Joint Admissions and Matriculation Board (JAMB) says it will not rescind its decision on the use of biometrics in the conduct of its Unified Tertiary Matriculation Examination (UTME). This is contained in the board’s weekly bulletin issued on Sunday in Lagos. According to the bulletin, the importance of biometrics in the conduct of the […]
Eko Electricity Distribution Company has reiterated its warning against the conduct of activities under and within the perimeters of high tension power lines. The General Manager, Corporate Communications, EKEDC, Mr Godwin Idemudia, said in a statement that the company had embarked on several safety enlightenment campaigns highlighting the hazards involved in building, trading, loading vehicles, […]