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The interbank segment of the foreign exchange market has received a boost of $210 million from the Central Bank of Nigeria (CBN), following sales concluded yesterday. According to figures obtained from the Bank, authorised dealers in the wholesale segment of...
ABUJA – The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, April 16, 2019. According to figures obtained from the Bank, authorized...
The Spanish airline, Air Nostrum, has confirmed the cancellation of 148 flights between Monday and Wednesday due to the strike action called by the Spanish Airline Pilots’ Union (SEPLA). The strike has been called in protest against the company outsourcing...
Binance, the largest exchange in the world, has announced the delisting of Bitcoin Cash SV (BCHSV) after a large number of the cryptocurrency community stood against the creator, Craig Wright, who has been parading himself as Satoshi Nakamoto. According to...
Internet users in Nigeria increased marginally to more than 114,752,357 million in February 2019, the Nigerian Communications Commission (NCC) has said. The NCC made this known on Monday in its Monthly Internet Subscribers Data for February posted on its website. The...
  The Director of Nigerian Institute for Oceanography and Marine Research Lagos, Dr. Adekunle Oresegun has disclosed that Nigeria spends about $I billion annually on the importation of fish. He stated this in Abakaliki during a four-day vocational training and empowerment...
The Federal Inland Revenue Service (FIRS) has proposed to generate N4.3tn from petroleum profit tax, and N1.7tn through the Value Added Tax to finance the 2019 budget. The proposition was contained in the Medium Term Expenditure Framework Tax Revenue Projections...
Africa’s richest man, Aliko Dangote, has declared that he has no personal house outside Nigeria. The business mogul said this at the 2019 Mo Ibrahim Forum. Dangote hinted that he avoids luxury things “because they distract and take time”. Dangote said: “I...
Data from Google Trends shows that Lagos, Nigeria ranks as the number one city based on the volume of online searches for Bitcoin (BTC). While this data may indicate a high level of interest among the city's approximately 21 million people, it has...
Jumia Technologies AG ADR JMIA, +43.79% began trading Friday morning and quickly jumped 32.6% after opening. Shares priced late Thursday at $14.50, about the midpoint of the $13-to-$16 expected range. Jumia is the top e-commerce site in Nigeria, and sells merchandise ranging from...
The National Deposit Insurance Corporation (NDIC) has set aside about N258.8 billion in the 2019 budget for the reimbursement of depositors who may be affected should any licensed bank be liquidated this year. The Managing Director/Chief Executive of NDIC, Umaru...
The Lagos State Commissioner for Agriculture, Mr Oluwatoyin Suarau, has said that the new World Bank Project, Agro-Processing, Productivity Enhancement and Livelihood Improvement Support Project, will ensure food security and increase the capacity of farmers in the state. The Commissioner...
The Economic and Financial Crimes Commission (EFCC) has arrested a staff of the Nigeria Railway Corporation and two others over alleged fraud and ticket racketeering. The commission has also invited three other officials of the Railway Corporation in Kaduna for...
The International Monetary Fund (IMF) says Nigeria’s economy will expand a little faster than its earlier projection. In its World Economic Outlook (WEO) report released on Tuesday at the ongoing spring meetings of the IMF and World Bank Group,...
The fourth edition of the Nigeria Innovation Summit will focus on “Accelerating Nigeria’s Economic Growth Through Innovation.” The summit, which will hold August 20/21, 2019, at Sheraton Hotels, Ikeja, Lagos, is an annual event that promotes the need for businesses, organisations,...

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