In line with its commitment to sustain and deepen flexibility in the foreign exchange market to further enhance foreign exchange flow in the economy, the Central Bank of Nigeria (CBN) on Friday intervened in the Inter-Bank Foreign Exchange Market with the total sum of $462,336,426.74. A breakdown of the foreign exchange intervention figures obtained from […]
Nigeria and the United Nations on Thursday signed a five-year Sustainable Development Partnership Framework (UNSDPF) (2018-2022) which is a successor programme to the current United Nations Development Assistance Framework III (UNDAF III) (2014-2017). The signing ceremony in Abuja is the result of the joint effort between the United Nations, Nigeria and partners over the past […]
Asian stock markets sagged on Friday after U.S. tech shares retreated from recent rallies, though optimism about U.S. corporate earnings and the global economy underpinned overall sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8 percent but was still on track for a 0.4 percent weekly gain, with Samsung Electric, Asia’s largest company […]
The Minister of Transportation, Mr Rotimi Amaechi, on Thursday took delivery of two double-end-drivers’-cabin standard gauge locomotive engines from the Peoples Republic of China. The minister, who was represented by the Managing Director of the Nigeria Railway Corporation (NRC), Mr Fidet Okhiria, said that 10 more locomotives were expected to arrive the country by September. […]
Amazon Chief Executive Officer, Jeff Bezos is now $500 million richer than Microsoft founder Bill Gates. According to Forbes, Bezos’ net worth was estimated at $90.6 billion as at Thursday morning when he gained $1.4 billion in the stock market. His new net worth makes him $500 million richer than Gates. Bezos is the seventh […]
The Tin Can Island Command of the Nigeria Customs Service has generated N130 billion as revenue between January and June 2017. A statement released by the public relations officer of the command, Uche Ejesieme, said the command collected the amount, which covered import duty and other fees, on behalf of government agencies during the period […]
Latest report from the National Bureau of Statistics has revealed that eight electricity generation plants in Nigeria generated zero megawatts per hour in five months. The generation companies (GENCOs) reported to have done zero MW out of the 25 included Afam (I-V), Trans-Amadi, Rivers IPP and AES Barge. According to the power generation statistics for […]
E-commerce giant, Amazon plans to open its doors to job seekers at 10 shipping sites around the country, all part of a company-wide initiative to fill more than 50,000 U.S. positions. Most of the job openings will be for full-time positions, though Amazon said in a statement more than 10,000 part-time roles at its sorting […]
Shares of Facebook Inc touched a record high on Thursday on the back of overwhelmingly positive quarterly results, adding more than $27 billion to its market value. The world’s biggest online social network posted a 71 percent surge in second-quarter profit and a 50 percent jump in mobile ad sales, allaying investor concerns that ad […]
The Nigerian Communications Commission (NCC) says resolving the Etisalat debt issue is an incentive to attract the USD2 billion Foreign Direct Investment (FDI) expected from Mubadala of United Arab Emirates (UAE). According to a statement issued in Abuja on Wednesday by Mr Tony Ojobo, NCC Director of Public Affairs, Prof. Umar Danbatta, the Executive Vice […]