Elumelu At TICAD Africa Development Conference In Japan, To Advance Entrepreneurship

Eminent Banker and Philantropist, Mr. Tony Elumelu, the Founder of Tony Elumelu Foundation and the Chairman of the United Bank for Africa (UBA), is expected to speak at the Seventh Tokyo International Conference on African Development (TICAD), taking place in Yokohama, Japan from August 28 – 30, 2019. As the leading voice of African entrepreneurship […]

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$9bn judgment: Buhari Digs More, Asks EFCC, NIA to probe 2010 contract

Apparently still dazed by a UK court verdict, which directed the seizure of $9.6 billion Nigerian assets, President Muhammadu Buhari has directed the Economic and Financial Crimes Commission, the National Intelligence Agency and the Inspector General of Police to conduct a thorough investigation into Process and Industrial Developments Ltd, to unravel the root cause of […]

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Latest: Buhari Retains Petroleum Portfolio, Swears-In New Cabinet, With Portfolios

President Muhammadu Buhari retains his cabinet position , as Petroleum Minister, the most Nigeria’s  juicy cabinet portfolio, as he swores-in his new cabinet members Wednesday, with their  assigned portfolios.The ceremony took place at the presidential villa in Abuja. With 43 ministers, Buhari now has the largest cabinet in Nigeria’s democratic history. Below is a table […]

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Remittances To Nigeria To Hit $34.8bn In 2023

Multinational professional auditing firm, PriceWaterhouse Cooper (PwC), has predicted that diaspora remittances to Nigeria is expected hit $25.5 billion by the end of the year and $34.8 billion by 2023. The firm expressed belief that such inflow would continue to strengthen the Nigerian economy in the coming years. According to PwC’s latest White Paper Series, […]

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World Bank

CCECC Tops Six Corrupt Chinese Firms Blacklisted By World Bank In Nigeria

The World Bank has blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption. The companies, according to an announcement published on the World Bank’s website, are CCECC Nigeria Railway Company Limited, CRCC Petroleum and Gas Company Limited and CCECC Nigeria Company Limited. Others are China Railway Construction (International) Nigeria Company Limited, […]

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Atiku Abubakar

Supreme Court To PDP, Atiku: You can’t access INEC server

The Supreme Court on Tuesday 20th August, dismissed an appeal by the Peoples Democratic Party and its presidential candidate, Atiku Abubakar, seeking access to the Independent National Electoral Commission’s sever. The Dattijo Muhammad-led five-man panel, in a unanimous judgment, dismissed the appeal, saying there was no basis to interfere with the earlier decision of the […]

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CBN Gets Buhari’s Directive to Stop Forex for Food Imports

The Central Bank of Nigeria (CBN) has been directed byPresident Muhammadu Buhari to stop providing foreign exchange for importation of food into the country in a bid to ensure Nigeria attains food security. A statement yesterday by a presidential spokesman, Mallam Garba Shehu, quoted Buhari as telling All Progressives Congress (APC) governors, who came to […]

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El Zakzaky protest from India, Says ‘We’re Practically in Another Detention Facility’

Detained leader of the Islamic Movement of Nigeria (IMN) , Sheikh Ibrahim El- Zakzaky, has protested what he described as another detention from New Delhi, India where he and his wife, Zeenat, were taken to for medical treatment, saying the hospital where they are receiving treatment as another “detention facility which is even stricter than […]

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World Bank Investments portfolio in Nigeria now $11bn

The World Bank has disclosed that its net portfolio commitment into Nigeria currently stands at over $11 billion, with 30 operational projects in all the states of the federation. The disclosure by the bank’s Country Director for Nigeria, Mr. Rachid Benmessaoud, coincided with the call by Governor of Kaduna State, Mallam Nasir El- Rufai, on […]

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DMO thtreaten to Deregister Over 50 Non-Performing Agents in Bonds Trading

The Debt Management Office has threatened to deregister several non-performing registered Distribution Agents for its retail Bonds on Nigerian Stock Exchange (NSE). This was disclosed by Mrs. Bose Olafisoye, who represented the head of the market department at the DMO, who, lamented that “a lot of (135 registered) Distribution Agents have not brought (pooled) in […]

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MfBs’ Bad Loans Decline By 5.3% To N25bn — NDIC

The Nigerian Deposit Insurance Corporation, NDIC Bad or nonperforming loans (bad loans) in the portfolios of microfinance is said to have declined by 5.2 percent in 2018 to N25 billion against N26.18 billion in 2017. NDIC disclosed this in its 2018 annual report, which also revealed 14.7 percent increase in total deposits of the industry […]

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Court Orders Freezing of Three Lagos Accounts Over Allged ‘N9.9bn Fraud’

A Federal High Court in Lagos, presided by Justice Chuka Obiozor has ordered the freezing of three bank accounts belonging to the state government over an alleged N9.9 billion fraud. Obiozor, ordered the suspension of the bank accounts following an ex parte application by the Economic and Financial Crimes Commission (EFCC). The accounts are domiciled […]

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