Exchange Rates: BUY/SELL 1 USD=358/361 NGN, 1 GBP=474/480 NGN, 1 EURO=412/418 NGN

BUSINESS

Imo state launches airline, Imo Air

Imo state launches airline, Imo Air

Imo State Government has entered into a partnership with Dana Air to launch Imo Air, to be operated by the airline. Governor Owelle Rochas Okorocha together with members of the State Executive Council and Imo state residents/indigenes were at the Sam Mbakwe Cargo Airport yesterday to celebrate the acquisition of the first Imo state owned flight. The 140-Seater plane is reportedly one of five ...

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Nigeria Central Bank bars banks from Bitcoins transactions

Nigeria Central Bank bars banks from virtual currency transactions

The Central Bank of Nigeria, CBN, releases a statement signed by its director, financial policy and ‎regulation department, Kelvin Amugo, barring banks in the country from doing any transaction using Bitcoin or any other kind of virtual currency. A virtual currency or virtual money is a type of unregulated, digital money, which is issued and usually controlled by its developers, and used ...

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IMF predicts Nigeria to recover from recession this year

IMF predicts Nigeria to recover from recession this year

The International Monetary Fund IMF, has predicted Nigeria will recover from the current economic recession this year. The international body stated this in its latest World Economic Outlook released yesterday Monday January 16th. According to the outlook, Nigeria’s Gross Domestic Product is expected to grow by 0.8 per cent this year and 2.3 per cent in 2018 due to increased oil production ...

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Union Bank launches Elite Banking in Abuja

Union Bank launches Elite Banking in Abuja

As part of its commitment to provide a range of personalized banking services to its customers, Union Bank, a leading financial institution, recently launched its Elite Banking Segment for the emerging and established middle class in Abuja.At the segment launch which took place at Union Bank’s Abuja Main Branch, elated guests and customers of the bank commented on why Union ...

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MMM unfreeze users account

MMM unfreeze users account

MMM unfreeze users account today, 13th January, 2016, earlier than the date stipulated by the ponzi scheme. It can be racall that MMM had notified its users on 14th December, 2016, that all account will be frozen till 14th January, 2017, and this will prevent users for getting back the investment. But the ponzi scheme has now announced its return ...

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Dangote Tomato factory reopens in February

Dangote Tomato factory reopens in February

The Dangote Tomato Processing Factory in Kadawa, Kura Local Government, will resume production in February. The Factory was suspended in February 2016, due to lack of raw materials. The Managing Director of the Company, Alhaji Abdulkadir Kaita, told  News Agency of Nigeria (NAN), in an interview on Tuesday, in Kano State. He said that: “Preparation for production to resume was ...

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British Airways to stage 48-hour strike from Jan. 10

British Airways to stage 48-hour strike from Jan. 10

Cabin  Crew at British Airways are set to hold a 48-hour strike from January 10, due to an ongoing pay dispute,  the Press Association said on Tuesday, citing the Unite Trade Union. The walkout comes after Unite members voted by 7 to 1 to reject a pay offer from the airline. The strike action which was originally scheduled to hold ...

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Buratai: Civil Rights Attorney issues Fayose 7-days ultimatum to withdraw statement

Buratai: Civil Rights Attorney issues Fayose 7-days ultimatum to withdraw statement

A Civil Rights Attorney, Osuagwu Ugochukwu Esq has asked the Ekiti state Governor, Mr Ayodele Fayose to, within seven days, retract his statement which attempted to cast aspersion on the person of the Chief Of Army Staff (COAS), Lt. Gen TY Buratai or face legal action. The attorney in a statement made available to journalists in Imo state said Fayose ...

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LASG to roll out :Lake Rice” at N13,000 on December 15

LASG to roll out :Lake Rice” at N13,000 on December 15

The Lagos State Government on Thursday said it was ready to roll out Lake Rice on December 15 to Lagosians at N13,000 per 50 kg for the Yuletide celebrations. Sanni Okanlawan, Special Adviser on Food Security to Governor Akinwumi Ambode, made the disclosure in Lagos during the Lagos Chamber of Commerce and Industry (LCCI) National Agriculture Stakeholders Summit. Okanlawan said ...

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Fully air conditioned keke napep set to hit the streets of Nigeria

Fully air conditioned keke napep set to hit the streets of Nigeria

According to The Young Business Leaders of Nigeria’s twitter page, the fully air conditioned Tricycle popularly known as Keke Napep will soon be on the streets of Nigeria. Thes statement said: “See the super Keke Napep, which is fully airconditioned that will soon be on the streets of Nigeria.”

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Dare Art Alade to host the unveiling of GAC Motors’ latest GS4 brand in Lagos this December

Dare Art Alade to host the unveiling of GAC Motors’ latest GS4 brand in Lagos this December

Dare Art Alade & Chairman of CIG Motors, Chief Diana Chen Nigeria is about to witness a giant leap in its automobile industry. It’s the car revolution we have all been waiting for! On Monday 12th December 2016, China’s leading automaker GAC motors will be unveiling its premiere GS4 brand at the Eko Hotels and Suites, Victoria Island Lagos. A ...

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Photos: Nigeria Customs seize 20ft container of ready-to-eat Nigerian food imported from India

Photos: Nigeria Customs seize 20ft container of ready-to-eat Nigerian food imported from India

The Nigeria Custom Service has seized a 20ft container of ready-to-eat Nigerian food imported from India at Tin Can Island Port, Lagos. The Customs Area Controller, of Tin Can Island Port, Comptroller Bashar Yusuf, handed over a container found to contain 1,395 cartons of ready-to-eat food such as Yam Porridge, Beans Porridge, Egusi Soup etc, to Mr. Udo Ekpo, a ...

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Dangote, Moroccan Group sign MoU on fertilisers production

Dangote, Moroccan Group sign MoU on fertilisers production

The Nigeria’s agricultural sector has received a major boost as the Dangote Group and the OCP Group of Morocco signed an agreement to boost fertiliser production and business in the country. The OCP Group is a global leader in phosphate and phosphate derivatives markets. The partnership is expected to lead to the creation of an integrated African platform and a ...

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FG plans to import fuel from Niger republic

FG plans to import fuel from Niger republic

NNPC Group Managing Director, Maikanti Baru, over the weekend disclosed ongoing plans by the Federal Government to import fuel from Niger Republic to Nigeria. Baru who disclosed this during a town hall meeting with the management and staff of KRPC in Kaduna, said President Buhari has ordered the construction of about 1, 000 kilometer crude oil pipelines from Niger Republic ...

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FOREX Crisis: Emefiele Validates DSS’ raid on Parallel Market

FOREX Crisis: Emefiele Validates DSS’ raid on Parallel Market

The Central Bank of Nigeria (CBN) on Tuesday endorsed the crackdown on parallel market traders by the officials of the Department of State Services (DSS) across the country. The CBN Governor, Godwin Emefiele, disclosed this while addressing newsmen at the end of its Monetary Policy Committee (MPC) meeting in Abuja. According to Emefiele, the foreign exchange regulation in the country forbids ...

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FG Plans to Merge NNPC, DPR, PPPRA, Others into a Single Agency and Sell/Concession Unprofitable Refineries

FG Plans to Merge NNPC, DPR, PPPRA, Others into a Single Agency and Sell/Concession Unprofitable Refineries

According to the draft National Oil Policy released last week, the Federal Government is set to scrap Nigerian National Petroleum Corporation (NNPC),Department of Petroleum Resources (DPR), and Petroleum Products Pricing Regulatory Agency (PPPRA), and other regulators and consolidate them into a single agency – Petroleum Regulatory Commission (PRC). “Although the agencies generally work well together, their roles, sometimes, overlap and there are significant ...

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The Made In Nigeria Project announces Made in Nigeria Conference & Exhibition 2016

The Made In Nigeria Project announces Made in Nigeria Conference & Exhibition 2016

The Made In Nigeria Project, organisers of the Made In Nigeria Conference & Exhibition have officially announced the third edition of the ‎annual event, which is slated to hold in Lagos at the Landmark Centre, on November 29th 2016 with the theme; Possibilities Made In Nigeria – A re-direction towards Economic growth, SME advancement, and National Transformation. The one day ...

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More foreign airlines threaten to close shops over exchange rate, delayed concession

More foreign airlines threaten to close shops over exchange rate, delayed concession

The Association of Foreign Airlines’ Representatives in Nigeria (AFARN), on Wednesday warned the Federal government that more of its member airlines operating in the country could close shops if the current exchange rate which is not favourable to them persists. It also said its members had yet to benefit from the concession granted to them to access foreign exchange at ...

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FG to unveil agriculture city, acquires 15, 000 hectares of land

FG to unveil agriculture city, acquires 15, 000 hectares of land

THE Federal Government, yesterday, disclosed its plan to unveil agriculture city in Kwali Area Council of the Federal Capital Territory to engage youth in agribusiness. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said this while reiterating government’s resolve to give a new lease of life to young people across the country with new approach to agribusiness. Ogbeh ...

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IMF Report: Nigeria Beats South Africa & Egypt to Reclaim Position as Biggest Economy in Africa

IMF Report: Nigeria Beats South Africa & Egypt to Reclaim Position as Biggest Economy in Africa

A new report from the International Monetary Fund (IMF) has projected Nigeria as Africa’s biggest economy, in spite of its current challenges. Nigeria is placed ahead of South Africa and Egypt which are second and third respectively. In August, Nigeria was reported to have lost its position as Africa’s biggest economy to South Africa, following the recalculation of the country’s ...

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