archiveAugust 2016

The Central Bank of Nigeria (CBN) has increased the limit foreign exchange that banks can sell to Bureaus De Change (BDCs) from $30,000 to $50,000. Managing Director United Bank for Africa (UBA), Mr. Kennedy Uzoka told journalists on Tuesday in Abuja after the Bankers’ Committee meeting that the decision was...

Former Director-General, Manufacturers Association of Nigeria (MAN), Mr. Jide Mike, has disclosed that Nigeria’s manufacturers devote 30 to 40 per cent of their expenditure to alternative energy sources. Mike stated this at a presidential dialogue session organised by the Lagos Chamber of Commerce and Industry (LCCI) recently. According to him,...

The Nigeria Immigration Service has resolved to re-screen the 2000 recruits that were dismissed following their “irregular” letters of appointment in February, 2015. In a statement by its Spokesman, Muhammad Babandede, the Comptroller-General of NIS, said that the Federal Government had approved the review of the lingering case and the...

Dangote Flour Mills Plc has returned to profitability as it posted a profit before Tax (PBT) of N2.64 billion in the half-year ended June 30, 2016, compared to a loss of N9.55 billion posted at the corresponding period in 2015. According to the half- year report of the company released...

  Targets mining contribution to GDP of 7% from 0.3% in a decade Nigeria is looking for investments of $7 billion in mining and steel in the next ten years as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy. According to Bloomberg report...

Following a merger with global marketing conglomerate Publicise Groupe’s MLS Group, top public relations firm Quadrant MLS has sacked 13 key staff, it was learnt. The agency’s Managing Director, Bolaji Okusaga, said that the management was compelled by the need for better efficiency. According to sources, top management staff members...

Trade transactions on the Nigerian Stock Exchange (NSE) started on a bright note on Monday as the twin-market indicators closed positive as the All-Share Index and Market Capitalisation recorded 27,316.52 basis points and N9.382 trillion respectively from 27,246.88 and N9.358 trillion with which it began the week transactions respectively. This...

African Central Bank governors have commenced week-long discussions in Abuja on how to better deploy monetary policies to deliver price stability for the continent rattled by low commodity prices under the auspices of Association of African Central Banks (AACB). Nigeria is hosting the meeting for the first time in 17...

For building confusion, fomenting trouble, misunderstanding and division in the country, the Christian Association of Nigeria (19 Northern States and the Federal Capital Territory), on Monday called on security agencies to arrest members of "two dissident groups",  Concerned Christians of Nigeria (CCN) and Northern Nigerian Christians (NNC), which have allegedly...

A Federal High Court in Abuja has suspended the PDP National Convention due to hold in Port Harcourt on Augus. 17, pending the determination of a suit filed by factional Chairman Ali Modu Sheriff. The embattled factional PDP Chairman, Sheriff, had approached the Federal High Court Abuja to apply for...