ECONOMY

The Nigeria Deposit Insurance Corporation (NDIC) said on Tuesday in its annual report that fraud cases in the banking sector increased by 15.71 per cent in 2015. The corporation explained that a total of 12,279 fraud cases were reported, representing an increase of 15.71per cent over the 10,612 fraud cases...

Minister of Finance, Mrs Kemi Adeosun, told viewers of Channels television that if Nigeria is to achieve sustainable growth, it needs a planned approach to financial discipline, targeted investment and economic diversification. Speaking on the Sunrise programme, Adeosun said: “The government’s Economic Plan is strong on fiscal discipline, because people...

The Abuja Chamber of Commerce and Industry has said that Britain’s decision to leave the European Union (EU) would have negative consequences on the economy of Nigeria. The Chamber made its position known in a statement by its President, Tony Ejikeoyen, on Sunday in Abuja. According to the Chamber, “Now...

Britain’s currency seems to be the first casualty of the decision of the country to exit European Union as the pound has collapsed to a 31-year low and there was pandemonium on currency, equity and oil markets on Friday. This is said to be fuelling a wave of global uncertainty....

Niyi Olaoye Executive Secretary/Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN),Mr. Obazee Jim Osayande says that the Federal Government’s decision to adopt a National Code of Corporate Governance (NCCG) is simply all about ‘change’ in financial reportage. Jim Osayande who spoke today at the Council’s final public hearing on...

As Nigeria moves to salvage its struggling currency, the naira, Economist, Dr. Ebo Tuckson has warned that the move could affect Ghana in the export of competitive products. Nigeria, which is Africa’s most populated nation, announced that it will allow its currency to trade freely in a move to tackle...

The National Association of Aircraft Pilots And Engineers (NAAPE)  has claimed that some of the money given to airlines like Air Nigeria from AFRIEXIM were diverted to other businesses while airlines like Aero contractors that were meant to get money for buying new aircrafts only got the interest of existing...

Foreign investors have praised Nigeria’s decision to adopt floating currency policy, but most of them nonetheless will stay away until the country shows signs of recovering from damage inflicted by the 16-month old exchange rate peg. Nigeria this week finally ditched the peg that had throttled foreign exchange markets, led...

The West African Gas Pipeline Company (Wapco) said on Tuesday that it had suspended the flow of gas from Nigeria to Ghana over unpaid bills by the Ghana government. According to Reuter’s report, Ghana's state power producer Volta River Authority owes Nigeria's N-Gas around $180 million, while N-Gas in turn...

The Federal Ministry of Finance, Office of the Accountant-General of the Federation and the Budget Office of the Ministry of Budget and National Planning, have condemned a protest staged by staff of the above mentioned ministry and offices today demanding for the payment of some allowances. Director of Information of...