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Beware of Unregistered Money Transfer Operators—CBN

August 6, 2016
Nigerians have been advised by the Central Bank of Nigeria (CBN) to be careful of unwholesome activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. CBN said this warning became necessary due to activities of some unregistered IMTOs, whose modes of operation were detrimental to the Nigerian economy. The apex financial institution in Nigeria stressed that all financial
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AMCON Recovers N644b From Debtors

August 6, 2016
Not less than N644 billion has so far been recovered from debtors by the Asset Management Corporation of Nigeria (AMCON). Chief Executive Officer of the agency, Ahmed Kuru, disclosed in a press briefing in Lagos that AMCON would continue to engage debtors to pay up their debts. Kuru said 80 per cent of the bad loans it acquired from banks
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Nigeria, Spain Fortify Ties On Oil & Gas

August 6, 2016
Nigeria and Spain are to make stronger their bilateral trade relationship in oil and gas for the benefit of the two countries. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Kachalla Baru, disclosed on Thursday in Abuja while receiving the Spanish Ambassador to Nigeria, Mr Alfonso Barnuevo to the NNPC Towers. Baru noted that NNPC as
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EU Entrepreneurs In Nigeria For Investment

August 7, 2016
Business Post Nigeria has learnt that a business delegation from the European Union country is in Nigeria seeking to invest in various sectors of the economy. The European entrepreneurs intend to put their resources in the country despite the present downturn in the Nigerian economy. Director General for economic promotion in the country’s foreign ministry, Vincenzo de Luca, says Italy
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NNPC Remitted N55.96b Into Federation Account In June

August 8, 2016
The Nigerian National Petroleum Corporation (NNPC) has disclosed that in June 2016, it transferred the sum of N55.96 billion into the Federation Account. It further said in the same month, a deficit of N26.51 billion was recorded in its operations. NNPC made disclosed these information and others in its monthly financial report for June released in Abuja on Sunday. “NNPC
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Politics

unlisted securities exchange

NASD OTC Securities Exchange Drops 0.06%

May 4, 2024
By Adedapo Adesanya Afriland Properties Plc pulled down the NASD Over-the-Counter (OTC) Securities Exchange by 0.06 per cent on Friday, May 3 after its share price went down by 65 Kobo to N11.20 per unit from N11.85 per unit. Business Post reports that the NASD Unlisted Security Index (NSI) fell by 0.65 points to wrap the final session of the
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Travel

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FEDA Establishment Agreement

Nigeria Becomes 16th Nation to Sign FEDA Establishment Agreement

By Modupe Gbadeyanka Nigeria has agreed to sign the Establishment Agreement for the Fund for Export Development in Africa (FEDA) of the African Export-Import Bank (Afreximbank). The FEDA Establishment Agreement is the development impact investment platform of the lender. Other countries that
May 3, 2024
NNPC OVH Oando

NNPC Trims Workforce by 0.3% to 5,692

By Adedapo Adesanya  The Nigerian National Petroleum Company (NNPC) Limited has announced that its workforce went down by 0.3 per cent in the first three months of 2024 to 5,692 from 5,710 in the last quarter of 2023. The state-owned oil firm,
May 3, 2024
Cybercrimes Law

Nigeria to Begin Enforcement of Cybercrimes Law

By Adedapo Adesanya The National Security Adviser (NSA), Mr Nuhu Ribadu, has directed all law enforcement agencies, regulators, businesses and stakeholders to begin the full implementation and enforcement of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act 2024. This was disclosed in a
May 3, 2024
Domiciliary Accounts to Naira

Naira Weakens to N1,402 at NAFEX as Confidence Wanes

By Adedapo Adesanya  The official market of the foreign exchange (FX) market known as the Nigerian Autonomous Foreign Exchange Market (NAFEM) plunged on Thursday, May 2 after the Naira returned from the Workers’ Day holiday with 0.84 per cent or N11.71 loss
May 3, 2024
Lagos-Calabar Coastal Highway

SERAP to Sue Umahi Over Lagos-Calabar Coastal Highway Project

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has threatened to sue the Minister of Works, Mr Dave Umahi, regarding the Lagos-Calabar Coastal Highway project, which has spurred much outrage. According to a post on X, formerly known as Twitter, SERAP
May 2, 2024
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