Business

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FG plans fresh upgrade of 22 airport terminals

With the failure of the airports remodelling project of the former administration, there are indications that the government intends to replicate the facelift currently...

Interbank rate rose 20 per cent as banks pay for USD...

Nigeria’s interbank lending rate climbed by around 20 percentage points at the weekend after the Central Bank of Nigeria’s (CBN’s) sale of dollar forwards...

72,113 ineligible retiree for pension gets refund – PenCom

At about 72,113 retirees who subscribed to the Contributory Pension Scheme have got refunds of N17.3bn from their Pension Fund Administrators after they were...

No intension to float Naira, CBN tells IMF, others

The Central Bank of Nigeria (CBN), this weekend said the country had no intension of floating its currency in the face of its many security...

Nigeria’s external remittances drop by 10% in 2016

The nation contraction in several countries of the world took a toll on global remittances as the World Bank, Thursday, reported that fund transfers to...

Fayemi briefs President on $150m World Bank loan

The Minister of Solid Mineral Development, Dr . Kayode Fayemi, on Thursday informed President Muhammadu Buhari of the $150m loan approved by the World...

CBN to offer dollar to manufacturers, fuel importer, airlines

The Central Bank of Nigeria on Friday said it would offer dollar forwards to offset a backlog of foreign exchange obligations for manufacturers, airlines...

Buhari presents Momoh as NERC chairman – Presidency

President Muhammadu Buhari has nominated Prof. James Momoh as the Chairman of the Nigerian Electricity Regulatory Commission.The Senior Special Assistant to the President on...

CBN suspends cashless policy in 30 states

Yesterday friday, the Nigeria Central Bank announced the immediate suspension of the implementation of the Cashless Nigeria Policy in 30 states of the federation.This...

China invests $45 billion on projects in Nigeria

In furtherance of its economic policy, the Belt and Road Initiative, The People’s Republic of China has invested $22 billion in some projects in...

FG to ensure liquidity and stability in power sector, says Fashola

Minister of Power, Works and Housing, Mr. Babatunde Fashola, has restated the commitment of the Federal Government to its responsibilities in the power sector,...

Lagos State to build 3000 Mw of electricity

The center of excellence of the nation has said it plans to build about 3000 megawatts (Mw) of electricity power plant that would boost...

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