20km domestic gas pipeline project: We are proud to have invested in Aba - Shell The Managing Director of Shell Nigeria Gas (SNG) Company, Ed Ubong, on Monday, stated that the company is proud of the domestic gas infrastructure investment in Aba. He made this disclosure at the completion phase of the 20-kilometer domestic gas pipeline expansion project that connects Ogbor Hill, Osisioma and Ariaria industrial...... read more
BREAKING: Shoprite commence formal process of exiting Nigeria South Africa retail giant, Shoprite, has announced the commencement of a formal process to discontinue its operation in Nigeria. Shoprite Holdings Limited made the announcement on Monday in its operational and voluntary trading update for the year ended on June 28, 2020.  The multi-national retail group, which announced a 6.4 per...... read more
Naira plunges to N472/$ as forex scarcity worsens The naira on Tuesday traded at N472 to a dollar at the parallel market as foreign exchange scarcity persisted. The exchange rate was N440/$ in the parallel market in June, and operators have continued to demand for the immediate unification of the multiple exchange rates in the country. The Senior Partner,...... read more
Netherlands, Switzerland to repatriate $200m Malabu deal cash –AGF Nigeria is awaiting the return of $200m from the Netherlands and Switzerland from the Oil Prospecting Licence 245 deal, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has said. The News Agency of Nigeria reported on Tuesday that Malami said this while declaring open a capacity building workshop...... read more
Ikpeazu lauded for pushing the Abia Narrative in SME development The recent National Merit Awards on two Abians in Abuja in fashion design and leather works have been described as a reward for the huge investment made by Governor Okezie Ikpeazu in the SME eco-system of the state. The Commissioner for SME Development Mr Onyema Wachukwu made the statement while briefing...... read more
FG hands over National Theatre to CBN The Minister for Culture and Information, Lai Mohammed, on Sunday in Lagos handed over the National Theatre to the Central Bank of Nigeria and the Bankers committee for restoration and upgrade. Speaking at the event, Mr Mohammed said the National Theatre, despite the arrangement, still remained a national heritage. He said the Federal Ministry...... read more
500,000 Nigerians enrolled for N-power - FG The Federal governement has said a total of 500,000 Nigerians have so far benefitted from the N-power scheme, even as it confirmed that the portal for Batch C registration began last night at 11:45pm.   The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, which said this in a...... read more
See guideline for N-power registration to avoid mistake as portal opens tonight HOW TO AVOID MISTAKES DURING NPOWER REGISTRATION PROCESS If you really want to get the Npower job via the 2020 batch c recruitment,there are certain guideline and procedure you must follow.This June 26th, as Npower unveils its portal for this year batch C 2020 application,you must adhere to these instructions. Npower...... read more
IMF downgrades Nigeria's 2020 growth rate -5.4% The International Monetary Fund, IMF, has further downgraded Nigeria’s economic outlook for the rest of 2020 to -5.4 percent growth, worse than sub-Saharan Africa’s average of -3.2%. The Fund had projected a 2.5 % growth rate for Nigeria in 2020 at the beginning of the year but following the outbreak of...... read more
Fraudsters are on the increase, Bank warns customers Bank scams are increasing as more customers are adopting electronic means of payment since lockdown was introduced in the country to contain COVID-19 spread. The lending institutions have also been alerting their customers to ensure more caution in transactions and continue to utilise the e-payment channels available to them. First Bank...... read more
Crude oil brought a curse to Nigeria - Peter Obi Vice Presidential Candidate of the People’s Democratic Party in the last election, His Excellency Mr Peter Obi, has described as a curse, Nigeria’s total dependence on oil revenue which, he said, had stopped people from critical thinking and innovating new ways to diversify the economy and generate more revenue. Obi made...... read more
CBN gives 2-weeks ultimatum to banks on ATM, e-banking complaints The Central Bank of Nigeria has directed all banks to resolve all outstanding issues relating to failed Automated Teller Machine, Point of Sale terminal and other electronic banking transactions within two weeks, starting June 8, 2020. It also revised timelines for reversals and resolution of refund complaints on electronic channels. A...... read more
NNPC reduces petrol’s ex-depot price to N108 The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a reduction in the ex-depot price of petrol from N113.28 per litre to N108 per litre across all its products loading facilities. In a release on Wednesday in Abuja signed by NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru;...... read more
CBN, Bankers’ Committee Suspend Retrenchment Of Banks’ Staff The Central Bank of Nigeria (CBN) and the Bankers’ Com­mittee, the umbrella body of managing directors of banks and top officials of the CBN have told banks in the country to suspend any plan to lay-off staff at this moment. The CBN, in a statement on Sunday and signed by the...... read more
Abia, Kaduna and 22 other states get N43.4bn World Bank grant for transparency   The Federal Government on Wednesday said it had disbursed N43.41bn ($120.6m) to 24 states under the performance-based grant component of the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability Programme-for-Results. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said this in a statement issued on Wednesday. The...... read more
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