archiveDecember 2016

Nigerian businessman,  Adebayo Ogunlesi, has been named as one of the people who will advise US President-elect Donald Trump on the American economy. The 63 year-old chairman of Global Infrastructure Partners, a private equity firm and a Fortune 500 company, is the only African in a 16-man economic advisory forum,...

Central Bank of Nigeria (CBN) has accused the Emir of Kano, Sanusi Lamido Sanusi, of playing to the gallery over his statement that there are five exchange rates in the country. The CBN debunked the allegation of the emir that the apex bank allocates dollars to end users, CBN in...

President Muhammadu Buhari is expected to officially declare open the 11th African Economic Conference (AEC) as Nigeria plays host to researchers, policy-makers and development partners this week. President  African Development Bank (AfDB),  Akinwumi Adesina; Acting ECA Executive Secretary, Abdalla Hamdok; UN Assistant Secretary General and Director of UNDP Regional Bureau...

By ABDUL OLALEKAN Following protests from some staff members about the relocation of the Inspectorate Department of the National Insurance Commission (NAICOM) from Abuja Head Office to Lagos Control Centre, the commission has said this was done in a bid to effectively monitor insurance firms and brokerage firms, as most...

President Mohammadu Buhari on Friday approved the disbursement of N522 billion to States for them to pay salary and pension arrears, and put money in nation’s economy. In a statement on Friday, Buhari said: “Today Nigeria and Morocco signed an Agreement aimed at making us self-sufficient in fertilizer production. We...

The Market capitalisation and the All-Share Index (NSE ASI) of the Nigerian Stock Exchange (NSE) which closed at N8.69 trillion and  25,265.08 basis points respectively on Thursday closed at N8.86 trillion and 25,740.83 basis points on Friday as investors closed the week with a gain of N17 billion. The market...

State Governments have submitted to the Federal Government (FG) claims of over-deductions for external debt service arising between 1995 and 2002 as a result of First Line Charge deductions from the Federation Account Allocation Committee (FAAC) allocations. According to Special Assistant, Media to Honourable Minister of Finance, Mr. Festus Akanbi...

Following impressive quarter-on-quarter growth in profitability, shares of Access bank Plc and United bank Plc (UBA) appreciated by N50.7 billion in 11 months on the equities market. These financial institutions have proven to overcome tough operating environment despite dwindling foreign exchange, rising inflation, among other headwinds facing the nation’s economy...

Nobel Laureate, Professor Wole Soyinka, has made true his promise to leave the United States if Donald Trump won the presidency, announcing Thursday that he has “disengaged” from the U.S. and thrown away his green card. Soyinka, who won the 1986 Nobel Prize for literature, was born in Nigeria but...

The Nigerian economy is bound to pick up as a result of Organisation of the Petroleum Exporting Countries (OPEC) member countries agreement on oil output cut after its meeting on Wednesday. OPEC reached a landmark deal that will effectively cut production by about 1.2 million barrels per day, or about...