NIGERIA indebtedness to International Oil Companies (IOCs) stood at $5.1 billion, the Nigerian National Petroleum Corporation (NNPC) told the Senate yesterday. The $5.1 billion, according to the Corporation, was accumulated from the Joint Venture Cash Call (JVC) business arrangement the country has with IOCs on oil exploration. But the NNPC denied allegation of mismanagement of […]
The Board of the African Development Bank (AfDB) has approved $7.24 billion for institution’s 2019 borrowing programme to be raised from the capital markets. The Bank’s Treasurer, Hassatou N’Sele, said the continental bank accesses a wide array of capital markets with the majority of its borrowing in US dollars and Euros as well as issuances […]
Management of Access Bank (Ghana) Plc has announced the appointment of Mr. Olumide Olatunji as its new Managing Director, effective December 5, 2018. He replaces Mr. Ifeanyi Njoku, who has now taken up a new role within the Access Bank Group to support the Bank’s expansion drive in line with its new five-year strategic growth […]
Total number of ac tive voice subscriptions in Nigeria telecom services sector has reached an impressive 169 million, the Nigerian Communications Commission, NCC, has stated. Executive Vice Chairman of the Commission, Prof. Umar Danbatta, gave the figure at a breakfast meeting with editors and Bureau Chiefs of media houses, in Abuja, yesterday. He also said […]
Some Nigerian women marched peacefully Saturday against sexual harassment in markets, drawing attention to unspoken incidents of bullying, groping and name calling of their gender by menfolk. The march in Lagos took off from Ojuelegba and streamed to Yaba, where demonstrators to their surprise were still confronted, despite police presence, with the same abuse by […]
Multilateral agencies, comprising ActionAid International, OXFAM, TrustAfrica, Comprehensive Africa Agriculture Development Programme (CAADP) Non-State Actors Coalition (CNC) and the Economic Community of West African States (ECOWAS) have facilitated an interactive session with the ECOWAS Parliament in Abuja, Nigeria. The interactive session, which held on December 13, 2018, was part of the engagement activities during the […]
Activities closed for the week on the Nigerian Stock Exchange (NSE) on a positive trend following gains recorded by some highly capitalised stocks after two consecutive days’ losses. Specifically, Seplat led the gainers’ table, gaining N54 to close at N594 per share. It was followed by Nigerian Breweries with N3.50 to close at N79.50, while […]
ECOWAS has called on member states to domesticate and effectively implement the protocol on the free movement of goods and persons to achieve full integration in the sub-region. Nigeria’s Minister of Foreign Affairs, Mr Geoffrey Onyeama, made the call at the opening of the 81st Ordinary Session of the Council of Ministers in Abuja on […]
The Central Bank of Nigeria (CBN) says the migration of the Federal Government Ministries, Departments and Agencies (MDAs) to the Treasury Single Account (TSA) led to positive growth in the value and volume of transactions recorded in end to end payments in 2017. The bank made the assertion in the 2017 Annual Activity Report released […]
Nigeria has suspended activities of UN children’s agency (Unicef) in the north-east part of the country accusing it of spying for Islamist militants operating in the area. “[Unicef staff] train and deploy spies who support the insurgents and their sympathisers,” the Nigerian military said in a statement. These were “unwholesome practices that could further jeopardise […]