Nigerian stocks fell 1.63% to their lowest level in two months after the West African country recorded its first case of coronavirus. An Italian man who arrived in Nigeria three days ago has become the African country’s first case of coronavirus, the health minister said on Friday, as infections spread rapidly worldwide. Reuters Pix: Nigeria […]
Oil prices plunged more than 3% and traded near their 2017 lows as reports around the coronavirus health crisis worsened. U.S. Crude Oil WTI Futures plunged 3.1% to $45.62 by 1:35 AM ET (05:35 GMT). International Brent Oil Futures slid 2.8% to $50.28. Investor sentiment continued to worsen as countries around the world reported more […]
By Foster Obi Ikeja Electric Plc has announced the appointment of Mrs. Folake Soetan as its Acting Chief Executive Officer, effective March 2nd, 2020. A statement by the company said Mrs. Soetan takes over from Dr. Anthony Youdeowei who has been the CEO for the last four years. It noted that Youdeowei presided over Ikeja […]
The House of Representatives has mandated its works committee to investigate “the slow pace of work on three critical projects” and a perceived conflict of interest due to Julius Berger’s involvement in the projects. The committee was also tasked to ascertain the capacity of the company to deliver the projects as well open the financial […]
The Senate on Thursday condemned the high lending rates in the country, accusing the Central Bank of Nigeria of not encouraging investors with the monetary policy. The Senate insisted that the CBN has not done enough in balancing the deposit interest rate and lending with the goal of encouraging savings. The chamber expressed concern that […]
Nigeria’s government has licensed two gold refineries to produce the metal for export and for the central bank to hold in its reserves, the mines minister said on Wednesday. Minister of Mines and Steel Development Olamilekan Adegbite told reporters in the capital, Abuja, that licences had been issued and the central bank would be the […]
The Coordinator, Joint Border Patrol, Zone 3, Muhammed Garba, has said smugglers have devised new ways of smuggling banned items into the country. According to Garba, they now conceal rice and other contraband in bags containing yam flour. The Nigeria Customs Service chief said they had impounded 20 bags of yam flour, with foreign rice […]
An employee of the Abuja Electricity Distribution Company (AEDC) was yesterday afternoon stabbed to death in Kabusa area of the Federal Capital Territory (FCT), Abuja, while one other colleague of the deceased escaped with serious injuries following an attack by assailants. The AEDC workers were on duty disconnecting the electricity of customers who failed to […]
The Nigeria Customs Service says ingenuity deployed by criminals or smugglers has made it possible for contraband items to come into the country. The Customs’ Public Relations Officer, Mr Joseph Attah, said this in an interview with the News Agency of Nigeria in Abuja on Wednesday. Attah explained that there were so many factors responsible […]
Prakasam police have arrested a gang of three, including a Nigerian national, on charges of online fraud to the tune of Rs14.67 lakh. The trio was arrested based on a complaint filed by one V Achaiah at Podili police station. Addressing media persons on Tuesday, Prakasam district SP Siddharth Kaushal said the 28-year-old engineering student […]