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Naira Recovering from Demand Shock at Official FX Market The Nigerian local currency, the naira, continued to recover from the demand shock launched at the Investors’ and Exporters’ foreign exchange (FX) window at the beginning of the following moderate inflows into external reserves. According to data obtained from FMDQ, the exchange rate at the Investors […]

Tinubu Appoints Olasupo Olusi CEO of Bank of Industry President Bola Tinubu has approved the appointment of Dr Olasupo Olusi as the Managing Director and Chief Executive Officer of the Bank of Industry (BOI) for a term of four years in the first instance. The appointment was announced in a statement by Chief Ajuri Ngelale, […]

How to Reset Nigeria’s Economy – Sanusi Lamido Sanusi Sanusi Lamido Sanusi, the 14th Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), says reduced dependence on petrol will be the long-term solution to the petrol subsidy removal crisis. “In the short term, the most effective measure to offset the removal […]

Eke Emerges Chairman Institute of Directors Centre for Corporate Governance The Institute of Directors Centre for Corporate Governance (IoDCCG) has appointed Mr Urum Eke as its Chairman of the Board of Governors. This is contained in a statement by Mr Nerus Ekezie, the acting Chief Executive Officer of the centre, on Thursday in Lagos. The […]

Nigerian Exchange Market Capitalisation Rises to N37T The Nigerian Exchange (NGX) equities market capitalisation hits N37 trillion as investors continue to spot value in some companies. There was growing interest in some mid-cap stocks which pushed key indicators higher. Stock market performance indicators increased by +0.04% with year-to-date returns racing far ahead of the annual […]

Nigeria Urges Member States to Endorse UN Tax Convention Nigeria has called on Member States to endorse the proposed resolution on Tax Convention that would ensure a fairer taxation system globally. The Permanent Mission of Nigeria to the United Nations, in a statement made available to the news agency in New York, called for continued […]

Diesel Suppliers, Generator Dealers Sabotaging Power Supply –Nnaji A former Minister of Power, Prof. Barth Nnaji, has alleged that diesel suppliers and generator dealers are sabotaging efforts for Nigerians to enjoy regular power supply. Nnaji made this known while featuring in a radio programme, captioned: “The South East Political Roundtable” by Flo FM, Umuahia on […]

Oil Inches to $91 on Expected Demand in U.S, China Oil prices jumped on Thursday on account of positive demand outlook in the United States and China despite ongoing tension in the Middle East. Growing tension in the Middle East continues to support oil prices, with Brent settling 1.78% higher at US$91.50 per barrel after […]

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has strongly criticized the Director General of the Nigerian Law School, Professor Isa Hayatu Chiroma SAN, over the poor state of the school’s facilities. In a scathing speech, Minister Wike accused Prof. Chiroma of failing to utilize available funds to maintain and improve the Law […]

As Lagos Commissioner Urges Adherence to Building Regulations and Planning Licenses In a bid to address the widespread disregard for physical planning regulations, Oluyinka Olumide, the Commissioner for Physical Planning and Urban Development in Lagos, has advised property owners and developers to prioritize obtaining planning licenses before commencing construction. He emphasizes the importance of adhering […]

The Federal High Court in Lagos will on November 3 hear a contempt application filed by Access Bank Plc against businessman Dr. Ambrosie Orjiakor. The bank is seeking to cite Orjiakor for alleged contempt of court over his inability to pay an alleged debt of $101 million. At proceedings on Friday, Access Bank’s counsel informed […]

The UK’s Medical Practitioners Tribunal Service (MPTS) has suspended a Nigerian doctor, Adekunle Owolabi, from medical practice for having a sexual relationship with a patient. According to findings from a tribunal hearing, Dr. Owolabi, who qualified as a doctor in Nigeria in 2007 before moving to the UK in 2016, engaged in the misconduct with […]