archiveApril 2017

President Buhari has approved the appointment of Amb. Arab Yadam and Dr. Habibat Lawal as acting Director-General of Nigerian Intelligence Agency (NIA) and Secretary to the Government of the Federation (SGF) respectively. The appointments were in order to fill the vacuum created by the suspension of SGF, David Lawal, and...

• Bank trims region’s GDP forecast to 2.6% from 2.9% in January • Estimate reduced on weak South Africa, Nigeria, Angola rebound The World Bank has cut its growth projection for sub-Saharan Africa this year because of weak expansion in the region’s three biggest economies. The area’s gross domestic product...

The Central Bank of Nigeria (CBN) has pumped a total $380 million within two days into the Foreign Exchange Market. And the effect: a further strengthening of the Naira. The first tranche of $280 million was released on Tuesday, on Wednesday, the bank offered additional $100 million to authorised dealers...

The Nigerian Stock Exchange All-Share Index (NSE ASI) and the Market Capitalization increased by 0.49 per cent, while the year-to-date return stood at -5.74 per cent. The All-Share Index closed at 25,331.77 against the previous close of 25,207.07 while Market Capitalization closed at ₦8.765 trillion against previous close of ₦8.722...

Vice-President Yemi Osinbajo has hailed the talent and resilience of Nigerians wherever they are, noting that ``the country is blessed with great talents and Nigerians are among some of the most creative and smartest persons around the world.’’ The Vice President made the remarks when he received on a courtesy...

Nigeria Deposit Insurance Corporation (NDIC) has concluded plans to prosecute directors and officers of closed Microfinance Banks (MFBs) in which 15 former Directors of the MFBs were involved in malpractices and review two cases of closed Deposit Money Banks (DMBs) involving their former Directors. Chairman, Task force on Implementation of...

• Fayose says suspension afterthought, cover-up plot President Muhammadu Buhari on Wednesday ordered an investigation into the allegations of violations of law and due process made against the Secretary to the Government of the Federation (SGF), David Babachir Lawal, in the award of contracts under the Presidential Initiative on the...

As part of its regular business portfolio review, Dangote Flour Mills (DFM), has exited its noodles business as it does not consider it strategic. The company has sold the assets of Dangote Noodles to Dufil Prima Foods, makers of Indomie noodles. To smoothen the transition, DFM has offered Dufil the...

“A lot of those who say we are better divided as a nation, don’t understand that the greatness of this country lies first in its diversity and then in the size of the country”, says Vice President Prof. Yemi Osinbajo, SAN Speaking to a delegation of the northern socio-political group,...

• Grows customer deposits by 14% to N264bn Unity Bank Plc has released its audited financial results for the year ended December 31, 2016, to the Nigerian Stock Exchange posting gross earnings of N84 billion and profit after tax of N2.1billion. According to a statement from the bank, it reords...