Naira

Board of Ecobank Nigeria has elected John Oche Aboh as its new chairman. Aboh, who was recently appointed to the board as a non-executive director, brings with him a wealth of experience in management in the financial services industry, professionalism and integrity that have earned him global respect. Aboh has over 30 years work experience […]

At least five people were killed by a bomb in Gamboru market in  Maiduguri on Friday morning, a policeman and a rescue worker said. Maiduguri, the capital of Borno state, is frequently targeted by Islamist group Boko Haram. A hospital source said a dozen people were brought in with injuries as well as four bodies […]

Analysts have advocated for foreign exchange determining mechanism to allow free float of the naira, which would subsequently reduce forex rate viability to achieve monetary stability. The Central Bank of Nigeria (CBN) last week adjusted its clearing rate at the inter-bank market to N197/$ from N196.65k/$. At the Bureau De Change, the local currency trades […]

Nigeria and some African countries under the platform of Africa50, the new and innovative infrastructure investment platform promoted by the African Development Bank (ADB) held its Constitutive General Assembly on the 29th of July 2015 in Casablanca, Morocco and raised $830 million for infrastructure projects in Africa. Twenty African countries and the African Development Bank […]

…Says EFCC rising to its responsibilities The New Nigeria People’s Party (NNPP) has commended the anti-corruption stance of Muhammadu Buhari’s stance, noting that it has emboldened the Economic and Financial Crime Commission (EFCC) to be alive to its duties. This was contained in a statement signed by Agbo Gilbert Major, national secretary of the party. […]Read More

Outgoing commissioner of police (CP), Akwa Ibom state command, Gabriel Achong has suggested the formation of vigilante groups as one of the strategies to check criminality and other anti social vices in the society. Achong who spoke with journalists in Uyo as part of activities to mark his retirement from the police force after 35 […]

The Nigerian Union in South Africa said on Saturday that Nigerians lost more than 4.6 million Rand (N84 million) to xenophobic attacks . The President of Nigerian Union in South Africa, Mr Ikechukwu Anyene, told the News Agency of Nigeria (NAN) on phone from Pretoria, South Africa, that the losses were initially put at 1.2… […]

Africa’s Continental Re plans to double premium income from its property and engineering business to $80 million over the next five years, as it bets on the continent’s infrastructure boom, its executive director said. Insurance companies are pushing for growth in Africa where many people are uninsured, banking on growing premiums as the continent develops… […]Read More

The Major Oil Marketers Association of Nigeria (MOMAN) on Friday threatened to stop the importation of petroleum products over yet-to-be-paid N256 billion subsidy claim by the Federal Government. The Executive Secretary of MOMAN, Obafemi Olawore made the disclosure at a news conference in Lagos. Olawore said that the last time the government paid marketers N100… […]

The Central Bank of Nigeria (CBN) has ordered banks to crack down on borrowers with non-performing loans (NPLs), adding that it would bar debtors from FX market. The move is aimed at avoiding a repeat of a 2009 industry bailout that cost the government $4 billion. A sharp drop in the global price of oil, Nigeria’s… […]Read More

Asian giant, Japan, has provided Nigeria with $4.5 million (N886.5 million) grant to purchase disaster reduction equipment, a development which the Minister, National Planning Commission, Dr Abubakar Suleiman, said would help the country in mitigating against such occurences. Speaking at the  signing of exchange of notes for Non-Project Grant Aid for the project in Abuja on Friday,… […]Read More

President Goodluck Jonathan, said on Friday that his meeting with the President-elect, Muhammadu Buhari at the Aso Rock Villa on Friday was to further their conversation on the wellbeing Nigeria. It was Buhari’s second visit to Jonathan since the declaration of the presidential election results on March 31 by the Independent National Electoral Commission. Jonathan,… […]