archiveMay 2017

The foreign reserves dropped by $207 million in eight days following the intervention by Central Bank of Nigeria (CBN) in the foreign exchange market. According to data from CBN’s website, foreign reserves that was at $30.99 billion on May 4, 2017 moved to $30.78 billion on May 15, 2017. For...

Team Beacon from the Afe Babalola University, Ado-Ekiti will be representing Nigeria at the Middle East and Africa regional finals of Imagine Cup holding in Beirut, Lebanon, this week. This feat was achieved by the students after emerging as the winner of the 2017 edition of Microsoft Imagine Cup national...

Nigeria National Petroleum Corporation (NNPC) is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day (bpd) of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters. The contracts, which come three months later...

The management of the Oil and Gas Free Zones Authority (OGFZA) has commended Governor Seriake Dickson of Bayelsa State for his numerous efforts in attracting investors to the state which includes creating the right atmosphere for investment opportunities. Managing Director and Chief Executive Officer of the authority, Mr. Umana Okon...

The Nigerian Stock Exchange All-Share Index (NSE ASI) and the Market Capitalization recorded further appreciation on Thursday increasing by 0.72 per, while the year-to-date return stood at 4.57 per cent even as investors gained N70 billion. The All Share Index closed at 28,101.63 against the previous close of 27,900.44 while...

Barely five months after the launch of the much-anticipated Nigerian hospitality report, Jumia Travel, the leading online travel agency, set to launch a report on the African hospitality industry on Thursday, May 25, 2017 in Lagos. The company will also be sharing how some of its new travel products are...

The Senate has given the Federal Government fresh conditions upon which it would consider and approve its $5.8 billion loan request from the China Exim Bank. The Federal Government had requested the sum for the construction of Standard Guage lines from Lagos-Kano, Kano-Kaduna, Lagos-Ibadan, and Lagos Calabar. While considering a...

The Nigerian Stock Exchange All-Share Index (NSE ASI) and the Market Capitalization increased by 1.05 per cent, while the year-to-date return stood at 3.82 per cent. The All Share Index closed at 27,900.44 against the previous close of 27,609.67 while Market Capitalization closed at ₦9.645 trillion against previous close of...

The Federal Government of Nigeria has condemned in strong terms the recent developments in Cote d’Ivoire in which a small fraction of the country’s Armed Forces mutinied against the Government. According to a statement from the Office of Acting President, Prof. Yemi Osinbajo, Nigeria expressed strong and unflinching support for...

The family of the late senator, Isiaka Adeleke, says it will consider all legal options against the Chief Medical Director of Ladoke Akintola University Teaching Hospital, Osogbo, Dr. Akeem Lasisi, over the autopsy result conducted on the late politician. Mr.Deji Adeleke, the younger brother of the deceased, told journalists on...