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NECA raises concerns over central bank’s directive to banks on lending

The Nigeria Employers’ Consultative Association (NECA), has raised concerns over the Central Bank of Nigeria’s (CBN) directive to banks on lending, saying it could pose a risk to financial stability.
Sporadic protests have broken out in a number of Iranian cities after authorities announced a surprise decision to ration and increase the price of petrol as part of efforts to offset the effect of crippling US sanctions.

Protests erupt after Iran hikes petrol prices

Sporadic protests have broken out in a number of Iranian cities after authorities announced a surprise decision to ration and increase the price of petrol as part of efforts to offset the effect of crippling US sanctions.
Nigerian Stock Exchange NSE

NSE crucial market indicators end with 0.03% growth

The Nigerian Stock Exchange (NSE) crucial market indicators closed trading on Friday with a marginal growth of 0.03 per cent.
Nigerian Stock Exchange NSE

NSE crucial market indicators end Friday with 0.03 per cent growth

The Nigerian Stock Exchange (NSE) crucial market indicators closed trading on Friday with a marginal growth of 0.03 per cent.

Woman makes N120,000 monthly from ‘Kunu, Zobo’ drink business

A 40 year-old businesswoman, Margret Mummy-Anthony, on Friday, said she was making an average of N120,000 monthly from selling Kunu, ginger and zobo drink.
Nigerian National Petroleum Corporation (NNPC)

NNPC secures $1.16 million US grant for 1,350MW Abuja power plant

The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have concluded arrangement to sign a 1.16 million dollar grant as part funding for the NNPC-Abuja Independent Power Project (IPP).
Workers at South African Airways (SAA) downed tools on Friday to demand higher wages and protest planned job cuts in a strike that has forced the troubled state-owned carrier to cancel all flights and left its future hanging in the balance.

South African Airways hit by crippling strike

South African Airways workers on Friday embarked on an indefinite strike for higher wages and against the national carrier's retrenchment plan, forcing the cash-strapped airline to ground hundreds of flights.
TechnoGas cylinders manufactured by Techno Oil Group

Why hike in cooking gas price may persist – marketers

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), says the current hike in price of cooking gas might persist if activities of Liquefied Petroleum Gas (LPG) Terminal Owners and Off Takers is not checked.

Central bank stabilises naira with $25.68 billion in eight months

The Central Bank of Nigeria injected about $25.68bn to stabilise the nation’s currency in the foreign exchange market between January and August this year.

Passengers lament as Rwandair dumps Nigerians’ luggage in Dubai

Scores of Nigerian passengers on Rwandair flight to Lagos on Thursday were left in shock after they discovered that the airline had dropped their luggage in Dubai without their knowledge.
Nigerian Stock Exchange NSE

T-bills: Investors storm equities market after central bank ban

Following the ban of individuals and small firms from investing in treasury bills by the Central Bank of Nigeria, investors poured money into shares instead, which boosted the market capitalisation of equities by N245bn.
The Lagos State government has said that the Imota rice mill, when completed, will produce 650 bags of 50kg rice per hour.

Lagos rice mill to produce 650 bags of rice per hour

The Lagos State government has said that the Imota rice mill, when completed, will produce 650 bags of 50kg rice per hour.
Managing Director of Aero Contractors, Captain Ado Sanusi, yesterday faulted the claims that the disputed Bombardier Dash 8 Q300 jets were stolen at the Lagos airport.

4,126 passenger luggage lost, delayed it Nigerian airports in September

The breakdown of the missing/delayed luggage indicated that Air France led the pack with a total number of 524 missing/delayed luggage, followed by British Airways with 487; Delta Air Lines, 455; KLM and Royal Air Maroc jointly had 438 missing luggage each, while Emirates Airlines had 364 within the month under review.
An Air Peace flight from Port Harcourt to Lagos experienced a hard landing which caused a tyre burst and damage to the aircraft’s nose wheel at the Murtala Muhammed International Airport (MMIA) in Ikeja Lagos. The aircraft with 133 passengers and six crew members after making emergency landing reportedly veered off the runway on 18R. Photo: Abdullateef Aliyu, Lagos 23/7/19

Accident bureau releases report on incidents involving Air Peace aircrafts

Accident Investigation Bureau (AIB) Nigeria has released the preliminary reports on the incidents involving three aircraft, two B737-300s with tail number 5N-BUK and 5N-BQO and a B737-500 with registration 5N-BRN owned and operated by Air Peace and has issued safety recommendations.

Economy: Central bank alone cannot spend N1.3 trillion in 2020 – Reps member

A member of the House of Representatives Honourable Gudaji Kazure has faulted the N1.3 trillion budget of the Central Bank of Nigeria (CBN), for the 2020 fiscal year, describing it as outrageous and wasteful.
Nike is bringing an end to a deal with Amazon which saw the athletics brand sell its clothes and shoes directly to customers on the e-commerce site, reports Bloomberg.

Nike ends direct sale of clothes and shoes on Amazon

Nike is bringing an end to a deal with Amazon which saw the athletics brand sell its clothes and shoes directly to customers on the e-commerce site, reports Bloomberg. Although third-party sellers will be able to continue selling Nike products, Nike will no longer act as a wholesaler to Amazon.
The border closure has affected goods from other West African countries. Wikimedia Commons

Maina Lawan: Border closure has long-term benefits

Former Governor of Borno State Maina Maaji Lawan has appealed to Nigerians, particularly traders, to accept the current border closure in good faith, saying it has ong-term benefits.

Oil rises as data shows surprise drop in US crude inventories

Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.

Recent Stories

Deputy Chief Whip of the Senate, Senator Aliyu Sabi Abdullahi; Deputy Senate President, Ovie Omo-Agege; President of the Senate, Ahmad Ibrahim Lawan, and Chairman of Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay, during the courtesy visit by PACAC to the Senate President at the National Assembly on Thursday, November 21, 2019.

Itse Sagay applauds Senate’s leadership for commitment to service

Chairman of Presidential Advisory Committee on Anti-Corruption (PACA), Prof. Itse Sagay, on Thursday applauded the leadership of the ninth Senate for its commitment to service of the country.
Deputy Chief Whip of the Senate, Senator Aliyu Sabi Abdullahi; Deputy Senate President, Ovie Omo-Agege; President of the Senate, Ahmad Ibrahim Lawan, and Chairman of Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay, during the courtesy visit by PACAC to the Senate President at the National Assembly on Thursday, November 21, 2019.

Senator Lawan: Senate yet to receive request from President Buhari for Ibrahim Magu’s confirmation

President of the Senate, Ahmad Lawan, on Thursday said the Senate is yet to receive any formal request from President Muhammadu Buhari for confirmation of the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.

Edo new police commissioner reads riot act to criminal elements

The new Commissioner of Police deployed to the Edo State Police Command, CP Lawal Tanko Jimeta, yesterday, said he would be firm in carrying out his duty in order to ensure the safety of lives and property of the citizens of the state.
Chidi Izuwah

Federal government approves PPP projects worth $8 billion in eight years

Mr Chidi Izuwah, the Director-General, Infrastructure Concession Regulatory Commission (ICRC) has said that the Federal Government approved Public-Private Partnership (PPP) projects worth eight billion dollars between 2010 and 2018.
Power

Federal government to review ownership of electricity distribution companies

The National Economic Council, NEC, yesterday resolved to review the status of the ownership structure of the power distribution companies in the country.