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Nigeria to save N127 billion in forex with cassava bread

With over $6 billion spent annually on the importation of wheat, the director general of Federal Institute of Industrial Research (FIIRO), Prof. Gloria Elemo, has said Nigeria can save up to N127 billion in foreign exchange through the adoption of cassava bread.

Foreign reserves increases to $34.8 billion in November – central bank

The Central Bank of Nigeria (CBN) has said nation’s foreign exchange reserves added at $991 million in November to close at $34.8 billion as of November 29, 2017.

Central bank weakens naira to 307/dollar for first time

The Central Bank of Nigeria on Monday weakened the naira marginally, selling dollars at 307 for the first time on the official interbank market.

NSE opens December trading with marginal growth of 0.08 percent

The market indices of the Nigerian Stock Exchange opened for the first trading day in December after a public holiday with marginal growth of 0.08 per cent.

Ford sues John Cena for selling high-end car within a month of purchase

When Ford launched its Application Programme for the Ford GT, observers noted the hoops and hurdles Ford set up to manage its relationship with the high-end clientele club.

Residents of Lagos community protest 4-month power outage

Residents of Ijegun-Imore community in Satellite Town, Lagos State on Monday protested four months of power outage in the area by Eko Electricity Distribution Company, EKEDC.

Over 200 transformers vandalised in Anambra – EEDC official

No fewer than 200 transformers were vandalised by hoodlums between January and November in Anambra, an official of the Enugu Electricity Distribution Company (EEDC), has said.

Chams celebrates 32 years of championing innovative solutions for public, private sectors

The group spans across Identity Management, Biometric Solution Platforms; Business Process Outsourcing Services; Electronic and Card Payment Systems; Mobile Payments; ATM sales, deployment and support; POS deployment and support.

Gucci confirms tax evasion probe

Italian fashion giant Gucci on Monday said police raided its offices over suspected tax evasion, confirming a report in the Italian press.

Lamborghini joins the boom in supercar SUVs

Supercar makers have long known that parked next to that snarling Lamborghini, racing-red Ferrari, or stately Bentley at some of the globe's toniest addresses is a practical SUV. With the sport utility vehicle market growing by leaps and bounds, they increasingly want in on those profits.

Venezuela to launch oil-backed digital currency

Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S led financial sanctions, announcing the launch of the “petro” backed by oil reserves to shore up a collapsed economy, Media report on Monday.

No plan to increase fuel price – NNPC

The Nigerian National Petroleum Corporation (NNPC) has once again emphasized that there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide.

Fuel queues resurface in Sokoto metropolis – survey

Fuel queues have resurfaced in Sokoto metropolis and its environs, creating hardship for motorists and commuters.

Ifeanyi Emefiele is the best central bank chief in history – Jim Ovia

Jim Ovia, Zenith Bank Plc chairman, says Godwin Emefiele is the best governor the Central Bank of Nigeria (CBN) has ever had.

Nestle to close its DR Congo factory

Swiss food giant Nestle announced Sunday that it would close its factory in Kinshasa, capital of the Democratic Republic of Congo, a potential market of 80 million people but one beset by poverty and political instability.

Kaduna-bound train derails in Ibadan

A train transporting fertilizer from Lagos to Kaduna on Sunday derailed at Omi-Adio area of Ibadan, Oyo State, blocking the railway crossing and causing gridlock.

Medview to provide visa to its Dubai-bound passengers

Nigeria’s rising carrier, Medview Airline, which would debut its Lagos-Dubai route on Thursday has promised to assist passengers travelling to that destination with visa.

NNPC losses drop by 53 percent on Forcados revamp

The group operational losses of the Nigerian National Petroleum Corporation dropped by 53.1 per cent following the revamp of the Forcados oil terminal and resumption of export activities there after it was shut down for several months.

Recent Stories

Nigeria Police

Police arrest housewife for allegedly pouring hot water on husband

The Police Command in Kano State has confirmed the arrest of a housewife, Aisha Ali, who allegedly poured hot water on the private part of her husband.

Christine Lagarde resigns as IMF chief

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, announced in a statement on Tuesday that she had submitted her resignation from the IMF and it will go into effect in September.

House of Reps commends President Buhari for signing ACFTA

The House of Representatives has commended President Muhammadu Buhari for signing the African Continental Free Trade Agreement (ACFTA).
Kola Ologbondiyan

PDP: Ex-President Obasanjo’s letter vindicates our stance

The Peoples Democratic Party (PDP) has reacted to the latest letter written by former President Olusegun Obasanjo to President Muhammadu Buhari describing the former’s action as patriotic.

Jacob Zuma: Gupta influence fiction

Former president of South Africa, Jacob Zuma, has denied that the Gupta family had any influence in the appointment of his Cabinet ministers.