Category Archives: Business News

NEPC plans to develop C’River cocoa for export

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The Executive Director/Chief Executive Officer, Nigerian Export Promotion Council, Mr. Olusegun Awolowo, has said that developing the Cross River State cocoa value chain for export will enhance economic growth. Awolowo spoke through the Deputy Director, National Export Office, NEPC, Mrs. Veronica Oriare, during the Cross River State Cocoa Stakeholders’ Forum and mini exhibition in Ikom […]

External reserves rise to $36.8bn

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Nigeria’s external reserves rose by $1.91bn in the first two weeks of this month, a Central Bank of Nigeria’s report indicated on Friday. The foreign exchange reserves stood at $36.86bn as of December 14, up from $34.95 as of November 30, the latest data obtained from the CBN showed on Friday. The analysts at FBNQuest […]

FG to sell first African sovereign green bond

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Kemi-Adeosun

Nigeria is set to become the first country on the continent to issue a security that raises funds for environmental projects when it launches its green bond on December 18. The government plans to sell N10.7bn ($30m) and the offer is billed to close on December 20, Bloomberg quoted Lanre Buluro, the director of sales […]

Govt to initiate legislative framework for renewable energy

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The Federal Government will soon initiate a legislative and judicial framework for the utilisation of renewable energy in the country, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said. Onu who said this while declaring open a stakeholders’ forum on the implementation of renewable energy policy/feed-in-Tariffs in Nigeria in Abuja on Tuesday also […]

CPC records 30% increase in consumer complaints

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The Director-General, Consumer Protection Council, Mr. Babatunde Irukera, on Tuesday said the council had recorded an increase in the rate of consumer complaints within the last few months. He said this at a sensitisation forum organised by the council for the civil society in Abuja. He attributed the rise in complaints recorded by the council […]

Railway: FG, Lagos agree to demolish Jibowu, Costain bridges

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The Federal Government and the Lagos State Government have agreed to pull down two bridges in Lagos located at Jibowu and Costain as part of efforts to address challenges facing the ongoing construction of a new Lagos-Ibadan standard gauge rail line. The Minister of Transportation, Mr. Rotimi Amaechi, announced this in Lagos on Tuesday, adding […]

Ethiopian Airlines inaugurates all-female crew flight to Nigeria

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Ethiopian Airlines has announced its first all-female crew flight to Nigeria. The airline said women would be expected to fill every role on the flight, from the pilots and cabin crew to in flight ramp operations as well as flight dispatchers on the ground. According to the airline, this will also be the first time […]

CBN injects $210m into forex market

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The interbank window of the nation’s foreign exchange market on Tuesday received a boost of $210m from the Central Bank of Nigeria. The interventions were made at the wholesale, the Small and Medium-scale Enterprises, and invisibles segments of the market. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said the bank offered the sum […]

Market opens lower, UBA, Learn Africa lead losers

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The Nigerian equities market opened the week on a bearish note as United Bank of Africa Plc, Learn Africa Plc and C & I Leasing Plc emerged as the top three losers. The NSE market capitalisation dropped to N13.552tn on Monday from N13.672tn recorded on Friday as 350.595 million shares worth N4.915bn exchanged hands in […]

Ecobank Nigeria launches Xpress Account

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Ecobank Nigeria on Monday unveiled Ecobank Xpress Account, describing it as a flagship digital product that would take banking to the grass roots. The Ecobank Xpress Account is a digital account that is mobile based. In a statement, the lender said the Ecobank Express Account “is simple and does not require any form of documentation […]