There are indications that the financial support from the Central Bank of Nigeria to the power sector will help reduce the amount of Non-performing Loans in the banking system, especially for lenders that are highly exposed to the sector. This declaration was made at the Renaissance Capital ninth Annual Pan-Africa 1:1 Investor Conference held in […]
A new broom at Germany’s transport ministry spells trouble for the makers of Mercedes-Benz cars and trucks. Since taking over the ministry in March, Andreas Scheuer, a tough protégé of Chancellor Angela Merkel, has vowed to up the pressure on Germany’s powerful car industry to come clean on Dieselgate and face the consequences. “I’m no […]
The Nigerian government has filed a notice before a Court of Appeal seeking to overturn a Federal High Court judgment acquitting Emirates Airlines and 10 others of complicity in the loss of some items aboard the airline. The Notice of Appeal dated May 16 gives 14 grounds for appealing the judgement including the fact that […]
Oil prices extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while U.S. production gains show no sign of slowing. Brent crude futures (LCOc1) stood at $75.22 a barrel at 1526 GMT, down $1.22 from the previous close. The contract touched a three-week low of $74.49 earlier in the session. […]
MTN Group on Monday said it was perfecting the details of its proposed Nigeria Initial Public Offering (IPO), the News Agency of Nigeria (NAN) reports. MTN Group’s spokesperson, who pleaded anonymity, confirmed this in response to enquiries by NAN on why the company was yet to file applications for the proposed offer. Both the Securities […]
Anti-corruption group Transparency International said on Monday Nigeria’s government has in the run-up to elections expanded the use of opaque $670 million-a-year funds that fuel graft. The funds, known as “security votes”, are a relic of military rule, mainly disbursed in hard cash and nominally released for dealing with unexpected security issues. They come from […]
Hyundai is partnering with a company called Xevo, and together they’re working on a system to allow customers to find and pay for coffee, fuel and parking using their car’s infotainment screen. Although for many Xevo may not be a familiar name, the company is actually the global leader as far as data-driven user experiences […]
Residents of Abuja and other central states will have to grab their umbrellas on Monday morning as the Nigerian Meteorological Agency (NiMet) has predicted cloudy skies with prospect of thunderstorm. NiMet’s Weather Outlook by its Central Forecast Office in Abuja on Sunday also predicted day and night temperatures in the range of 27 to 36 […]
The Peoples Democratic Party; economic experts and civil rights groups have said the recent statement by the International Monetary Fund on Nigeria’s rising debts portends a great danger for the country, The Punch reports. The PDP took a swipe at the President Muhammadu Buhari administration, accusing it of mortgaging Nigeria’s future with his administration’s unprecedented […]
Nigeria’s “underdog” football squad need to play together and not as individuals, captain John Mikel Obi said, with the team acknowledging they face a tough group stage at the World Cup in Russia next month. “We have to make sure we play together as a team which is the most important thing; no individual players,” […]