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An employee shows US dollar banknotes at a foreign currency brokerage office in Khartoum on October 7, 2018. - Sudan slashed the official value of its currency against the US dollar by more than half on October 7, the third devaluation this year in the face of a mounting economic crisis. (Photo by ASHRAF SHAZLY / AFP)

Dollar slips as trade progress boosts risk assets; kiwi soars

The dollar edged lower versus its peers on Wednesday, as rising hopes of a breakthrough in U.S.-China trade talks led investors to put money into the euro and Asian currencies.
National Bureau of Statistics NBS

NBS: Economy attracted $16.8 billion investment inflow in 2018

The National Bureau of Statistics on Wednesday released the Capital Importation report for 2018 with the economy attracting a total investment of $16.81bn during the period.
Hundreds of Osun-bound passengers, who had gathered at the Iddo Terminal of the Nigerian Railway Corporation (NRC) in Lagos for the free train ride of the Osun Government ahead of the Sallah, were stranded on Sunday.

Nigerian Railway transports 260 passengers daily free with Standard Gauge

The Nigerian Railway Corporation (NRC) says it transported 260 passengers free daily with the new Standard Gauge from Lagos to Abeokuta.

Ecobank manager sent to prison over N411 million fraud

Justice Ayotunde Faji of the Federal High Court in Lagos has remanded in prison a Manager with the Ecobank Plc, Ifeanyi Chukwu Azike, for allegedly defrauding some of the bank’s customers of N411 million.

NCAA: We can’t verify aircraft with worn out tyre yet

The Nigerian Civil Aviation Authority (NCAA) has disclosed that it is yet to establish the fact or otherwise of a picture trending in the social media of an aircraft operating with a wornout tyre.

Central bank eases capital pressure on struggling banks

Nigeria’s central bank has given the country’s lenders some much-needed relief by extending the time they will have to implement stricter accounting rules for bad loans.

FAO to boost Nigeria’s livestock, dairy industry

The Food and Agriculture Organisation (FAO) of the United Nations has indicated interest to boost Nigeria’s livestock and diary industry.

NDIC board pledges to stabilize Nigeria’s financial system

Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have pledged their total commitment to the formulation of sound policies that will enhance the safety and stability of the nation’s financial system.

Non-oil sector boosts GDP to 2.38 percent in Q4

Nigeria’s Gross Domestic Product (GDP) growth rate increased to 2.38 per cent (year-on- year) in the fourth quarter of 2018 (Q4, 2018), indicating a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter, according to the National Bureau of Statistics (NBS).
Lagos Ibadan Expressway

Official: All ongoing road projects in South South will be completed

The Federal Government on Tuesday promised to complete all ongoing road projects in the South South Zone before the end of 2020.

Stockbrokers reiterate call for reconstitution of SEC board

The stockbroking community has reiterated the need to re-constitute the board of the Securities and Exchange Commission (SEC) and accord the commission a status of independence like the Central Bank of Nigeria (CBN), in line with global best practices.
An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. | Akos Stiller | Bloomberg via Getty Images

Kremlin: No talks are underway to create new Russia-OPEC alliance

The Kremlin said on Tuesday there were no substantial talks currently taking place to establish an alliance between Russia and OPEC.
National Bureau of Statistics NBS

Nigeria’s GDP rises to 2.38 percent in Q4 2018

Nigeria’s Gross Domestic Product (GDP) growth rate increased to 2.38 per cent (year-on- year) in the fourth quarter of 2018 (Q4, 2018), indicating a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter, according to the National Bureau of Statistics (NBS).

Banks commit N10 billion loans to firms

First Bank of Nigeria and Access Bank have committed N10 billion loan to firms that have good credit ratings.

Shell faces trial in Netherlands for alleged role in execution of Ogoni leaders

A Dutch court will today hear the first arguments in an historic case against Shell, in which the oil giant stands accused of instigating a raft of horrifying human rights violations committed by the Nigerian government against the Ogoni people in the 1990s.

Central bank predicts boost in credit with moveable collateral

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday stated that given that the inherent risks in granting loans to Micro Small and Medium Enterprises (MSMEs) by banks is now reduced tremendously through the introduction of the National Collateral Registry (NCR), small businesses will now be able not only to access credit but also access such at reasonable rates.

Oil output drops as price stagnates

There are indications that threat to Nigeria’s N8.83 trillion 2019 budget is increasing from the oil revenue estimates as current reports show a decline in oil production level amidst price stagnation.
El Sharara Oilfield

Libyan forces claim control of nation’s largest oilfield

Eastern Libyan military forces have full control of Libya’s biggest oilfield, El Sharara, a spokesman said, in a challenge to the internationally recognized government in Tripoli.

Recent Stories

Labour Party candidate receives postponement news with mix feeling

The Labour Party governorship candidate in Kwara state, Issa Aremu, has said the postponement of the general elections by the Independent National Electoral Commission (INEC), was accompanied with mixed feelings.
The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has ruled out political influence in the postponement of the Presidential and National Assembly elections earlier scheduled to hold on February 16 and March 2, 2019.

INEC rules out political influence in election postponement

The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has ruled out political influence in the postponement of the Presidential and National Assembly elections earlier scheduled to hold on February 16 and March 2, 2019.
Adams Oshiomhole

Adams Oshiomhole: Nobody had clue elections won’t go on

The National Chairman of the All Progressives Congress, Adams Oshiomhole, has condemned the postponement of the general elections by the Independent National Electoral Commission.
APC Nigeria Supporters

Kebbi APC: We accept elections postponement in good faith

The All Progressive Congress in Kebbi State said it accepted the postponement of the Presidential and National Assembly elections in good faith.

11 killed as suicide bombers, gunman attack worshippers in Maiduguri

Eleven persons have died in an early morning suicide attack on Muslim worshippers in Maiduguri, Borno State.