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Online Editor

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Nigeria’s external reserves to hit 3yr high of $35bn

Posted on in Business News, cover | Comments Off on Nigeria’s external reserves to hit 3yr high of $35bn

THE nation’s external reserve will this month hit $35 billion, the highest in three years.The last time the nation had $35 billion external reserve was end of November 2014, when it dropped to $35.24 billion from $36.25 billion at end of October 2014. Indications to this emerge from the Central Bank of Nigeria (CBN) data […]

Oil prices hit highest levels since 2015 amid tightening markets, Saudi purge

Posted on in cover, Oil&Gas | Comments Off on Oil prices hit highest levels since 2015 amid tightening markets, Saudi purge

Oil prices hit their highest levels early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit $62.44 per barrel early on Monday, their highest level for years now. U.S. West […]

Bold monetary , fiscal policies needed for Nigeria’s economic recovery

Posted on in Local News, Slider | Comments Off on Bold monetary , fiscal policies needed for Nigeria’s economic recovery

The Governor of the Central bank of Nigeria says the country’s economic  recovery could relapse  if strong and bold monetary and fiscal policies are not activated to sustain it. The apex bank Governor, Mr. Godwin Emefiele, said this at the end of the Monetary committee’s two-day meeting, in Abuja, Nigeria. He said the economy is […]

9mobile appoints Citi, Standard Bank to find new investors

Posted on in Business News, Slider | Comments Off on 9mobile appoints Citi, Standard Bank to find new investors

9mobile, the mobile operator formerly known as Etisalat Nigeria, has appointed Citigroup and Standard Bank to find an investor to buy into the firm, with three companies already showing interest, a banking source close to the deal said on Tuesday. India’s Bharti Airtel, which already has a presence in Nigeria, as well as Britain’s Vodafone […]

Kaduna communities record two-year uninterrupted power supply – FG

Posted on in Local News, Slider | Comments Off on Kaduna communities record two-year uninterrupted power supply – FG

The Federal Government on Tuesday announced that two communities in Kaduna State recently recorded two straight years of uninterrupted supply of electricity. It said the Gnami and Pakau communities enjoyed uninterrupted power from the 90-kilowatt Solar PV off-grid system installed in the areas, as the villages were far from the reach of the national power […]

N’Assembly passes controversial Peace Corps bill

Posted on in Local News | Comments Off on N’Assembly passes controversial Peace Corps bill

Despite a contrary legal advice, the Senate on Tuesday passed the bill seeking to establish the Nigerian Peace Corps in concurrence with the House of Representatives. The Senate Committee on Judiciary, Human Rights and Legal Matters, in its report, which was considered at the plenary on Tuesday, strongly criticised the establishment of the corps. But […]

Stock market hits two-year high, soars by N218bn

Posted on in Markets, Slider | Comments Off on Stock market hits two-year high, soars by N218bn

The nation’s bourse recorded its highest return in over two years on Monday, as the Nigerian Stock Exchange market capitalisation appreciated by N218bn in one session. At the close of trading on Monday, equities’ capitalisation rose to N11.943tn from N11.725tn recorded last Friday, while the NSE All-Share Index closed at 34,652.52 basis points from 34,020.37 […]

Zero oil revenue days fast approaching, says Osinbajo

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Acting President Yemi Osinbajo on Monday declared that the days in which no single revenue would be generated from crude oil were fast approaching. Osinbajo, who spoke at the Extra-ordinary Session of the Council of Ministers of the African Petroleum Producers Organisation in Abuja, noted that technology was fast depleting the usefulness of crude oil. […]

Power generation falls below 3,000MW, seven plants idle

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The nation’s power generation has fallen below the 3,000 megawatts mark as the number of idle power plants increased to eight on Sunday from five on Friday. The nation’s power grid lost a total of 743.4MW over the weekend as generation dropped from 3,306.6MW on Friday to 2,632.4MW and 2,563.2MW on Saturday and Sunday, respectively. […]

CBN returns N51.9bn illegal deductions to bank customers

Posted on in Business News, Slider | Comments Off on CBN returns N51.9bn illegal deductions to bank customers

The Central Bank of Nigeria has said that it has recovered over N51.9bn illegally deducted by commercial banks and returned it to the customers. The CBN stated that the amount was illegally removed from the accounts of bank customers across the country in the past five years. The Acting Director, Corporate Communications, CBN, Mr. Isaac […]