archiveApril 2017

The National Association of Nigerian Students (NANS), on Thursday expressed happiness over the unconditional release of 13 students of University of Lagos from detention at the Kirikiri Maximum Prison. The students were freed before the expiration of 24-hour ultimatum given to a Special Offences Mobile Court in Lagos by NANS...

Nigeria's Union Bank plans to raise 50 billion naira ($164 million) by the end of the second quarter via a rights issue to boost its capital adequacy and tap opportunities to lend to agribusinesses, its chief executive said. The bank’s Chief Executive Officer, Mr. Emeka Emuwa said on Thursday that...

The House of Representatives on Thursday quizzed the Minister of Finance, Kemi Adeosun and Budget and National Planning Minister, Udoma Udo Udoma over N302.4 billion pension arrears. The lawmakers demanded to know what the Executive was doing to offset the outstanding pension liabilities under the Defined Benefit Scheme (DBS) and...

The Federal Executive Council has approved a $1.3bn loan credit facility for the commencement of the Development Bank of Nigeria. The approval came on the heels of a memo submitted by the Finance Minister, Kemi Adeosun, seeking the council’s ratification on the loan’s request. Adeosun, who briefed State House correspondents...

The International Monetary Fund (IMF) on Wednesday said that the naira is overvalued by 10 to 20 per cent. This was according to the IMF mission chief for Nigeria, Gene Leon, who said the overvaluation of the naira is “somewhere to the tune of 10 to 20 per cent” and...

The Capital Adequacy Ratios (CARs) of three big banks have fallen below regulatory capital requirement; the result of stress test conducted by the Central Bank of Nigeria (CBN) on the status of the banking system has shown. Overall, the result of the solvency stress test indicated the potential for high...

The Federal Government said it has cleared the inherited arrears of accrued pension benefit for pensioners who retired under the Contributory Pension Scheme for the year 2014, 2015 and 2016 by releasing N41.5 billion to the National Pension Commission (PENCOM) for onward paymen to the retirees. Minister of Finance, Mrs....

The Central Bank of Nigeria (CBN) has said that eight of Domestic Systemically Important Banks (D-SIBs) accounted for N11.76 trillion (72.2per cent) of the aggregate industry loans of N16.29 trillion in 2016. CBN in its financial stability report that was released on Wednesday revealed that eight banks earlier designated as...

The equities segment of the Nigerian Stock Exchange closed bullish on Wednesday when major market indicators, the All Share Index and market capitalization appreciated by 0.81 per cent respectively. The All-Share Index closed at 25,471.69 points after it appreciated by 205.54 basis points or 0.81 percent from 25,266.15 it closed...

The Joint Admissions and Matriculation Board (JAMB) on Wednesday confirmed the registration of 871,576 candidates so far for the 2017 Unified Tertiary Matriculation Examination (UTME). The Registrar and Chief Executive of JAMB, Prof. Is-haq Oloyede, said this in an interview with journalists on Wednesday evening after inspecting some registration centres...