N15trillion infrastructure fund begins October - Emefiele

The Central Bank of Nigeria (CBN), on Tuesday, announced that InfraCorp Plc, the N15trn Infrastructure Fund which will boost funding for capital projects, will be launched in October. The CBN Governor, Godwin Emefiele, disclosed this on Tuesday in Abuja at the annual banking and finance conference organised by the Chartered Institute...... read more

BREAKING: Again, Buhari goes borrowing *Seeks $4.05million, Є710million foreign loans

President Muhammadu Buhari has headed to the Senate once again to seek approval for another set of foreign loans, even with the outcry among a groundswell of Nigerians that Nigeria is fast sinking uncontrollably into the mire of debts, which would affect its overall wellbeing adversely. Regardless, the President, is asking...... read more

BREAKING: CBN sets up 24-hour financial hub for capital and investments

Nigerian International Financial Centre (NIFC) a body that would act as an international gateway for capital and investments, would be fully operational in the country by turn of 2022, the Central Bank of Nigeria (CBN), said on Tuesday. Godwin Emefiele, Governor of the apex bank, who revealed this plan at the...... read more

Buhari to Wike: Mind your language *Nobody is taking N’Delta money to North

Nobody is taking money meant for Niger Delta to the North, President Muhammadu Buhari, said on Monday cautioning Rivers State Governor, Nyesom Wike against making combustible statements capable of setting Nigeria on the edge. Buhari conveyed his position through presidential spokesman, Ajuri Ngelale, saying Wike’s claim reportedly made amidst the current...... read more

Six students financed to PhD, as Dangote sponsors research in oil industry

Dangote Oil Refinery has thrown its weight behind the Nigerian Content Development and Monitoring Board (NCDMB) to promote the critical issue of Research and Development (R&D) in the oil and gas sector of the country. To display its readiness for this promotion, Dangote Petroleum Refinery was a Platinum sponsor of the...... read more

As forex price soars, Emefiele raises hammer on banks, threatens sanctions

Banks may receive the hammer of the Central Bank of Nigeria (CBN), if they failed to checkmate sharp practices in their operations, capable of worsening the soaring prices of foreign currencies against the Naira. The measures would includes withdrawal of licences of the offending banks at least for one year in...... read more

Sit-at-home: We've been crippled - residents *N50billion lost in two months

Nothing less than N50billion has been lost since the Indigenous People of Biafra (IPOB), ordered residents of the South East not to venture out of their homes every Monday, as it has resulted in the crumbling socio-economic activities in the South East. First Vice President of Nnewi Chamber of Commerce, Industry,...... read more

Naira slumps to all-time low against dollar, $1 now N527

Indications emerged on Tuesday that the naira extended its decline, sliding to an all-time low of N527 against the dollar at the parallel market. The local currency, which has been on a downward trend in recent weeks, fell to 524 against the greenback on Friday from 522/$1 on Thursday. At the...... read more

Nigerians sleep, wake up with empty stomach, no money to buy food, Buhari's Minister admits

The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono, has has raised concern over the low purchasing power of Nigerians, saying unemployment is Nigeria's biggest challenge not food insecurity as Nigeria's food production has improved and gained international recognition. Nanono said the country may produce enough food to eat but...... read more

CBN finally secures judicial approval over frozen accounts of fraudulent companies

Central Bank of Nigeria (CBN), has secured a judicial backing from the Federal High Court, Abuja against companies, whose accounts were frozen for alleged involvement in fraudulent financial activities. Justice Ahmed Mohammed, granted the request filed by former Attorney-General of the Federation and Minister of Justice, Mr Michael Aondoakaa, SAN, on...... read more

BREAKING: Sylva heads committee, as Buhari kicks off PIA implementation

With the naming of Timipre Sylva as the head of the committee, President Muhammadu Buhari on Wednesday, rolled out the framework for the Implementation of the Petroleum Industry Act (PIA), 2021, which he signed into law on Monday. Sylva, is to head the Steering Committee that would drive the implementation process,...... read more

Pay less for electricity tariff: NERC gives tips on how to survive

The Nigerian Electricity Regulatory Commission (NERC) has given tips on ways to save electricity consumption among Nigerians, in light of the recent increase in electricity billing and the gnashing of the teeth by consumers. Here are Nine ways you can save electricity consumption in your residence or place of business. ·...... read more

BREAKING: Inflation rates slows down amid rising cost of commodities - NBS

Things might just be looking up for the commodity market in the Nigerian economy, following reports that inflation rates may be dropping, a major positive development in a country, which has been beset by rising prices including food and other domestic needs. Nigerians have been groaning as a result of sustained...... read more

BREAKING: Day after, Senate passes 2021 supplementary budget for second reading

The Senate has already passed the sum of N895, 842,465,917.00 as 2021 Supplementary Budget for second reading on Wednesday. The accelerated passage is happening day after the Senate President Ahmad Lawan informed that President Muhammadu Buhari had sent in the financial estimate. Details coming...... read more

It's official: Senate receives Buhari's request for 2021 supplementary budget

The Senate, Tuesday, received a supplementary appropriation bill from President Muhammadu Buhari to approve the sum of N895.842,465,917 billion as supplementary budget for the 2021 fiscal year.  The bill was transmitted with a letter dated 15th June, 2021, and addressed to the President of the Senate, Ahmad Lawan.  President Buhari, in...... read more

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