BoI To Disburse CBN N50bn CTG Intervention Funds
Bank of Industry Acting Managing Director, Waheed Olagunju has announced that the Central Bank of Nigeria has introduced a N50bn intervention facility to revive the Cotton, Textile and Garment (CTG) sector.
Senate To Pass Eleven Bills That Will End Recession
The President of the Nigerian Senate has said that the Senate will pass 11 Bills before the end of 2016 that will tackle the economic recession.
FG Seeks Release of Detained Students In Turkey
Contrary to reports that it is not doing anything, the Federal Government has expressed it is leaving no stone unturned in ensuring the immediate release of detained students in Turkey.
Central Bank Declares Nigerian Banks Healthy
Central Bank has declared Nigerian Banks healthy and safe amidst reports by a Dubai based international investment bank of undercapitalisation and the danger of insolvency.
World Bank: Nigeria Will Recover From Recession Next Year
The World Bank in its African Pulse reports predicts that Nigeria is set to make a rebound from recession in 2017 with the Federal Government expansionary budget in sight.
President Buhari Leaves Nigeria For Germany Today
President Muhammadu Buhari is set to commence an official visit to Germany today. The visit will enable him extend talks on the bilateral relations between both countries in recent times. He is expected back in the country on Sunday.
China Weakens Yuan Rate For Sixth Day
Analysts expect the currency to fall further in the face of dollar strength, slowing growth in the Asian giant, and capital outflows. The world’s second-largest economy expanded only 6.9 per cent in 2015. That's the weakest rate in a quarter of a century. And it has slowed further this year.
How Eritrea Orchestrated Dangote Cement Factory’s Attack In Ethiopia
Protesters in Ethiopia have attacked Dangote Cement factory, with vehicles and machinery at the firm’s plant in Oromiya vandalised. The Ethiopian government has accused elements in Eritrea and other countries of fanning the crisis that culminated in the total breakdown of law.
Customs: Tincan Command Declares N25.6bn Revenue
Nigerian Customs Service (NCS), Tincan Island Command announced that it generated N25.6 billion revenue in September. This is as a result of the various initiatives put in place by the command.
NUJ To Begin Clampdown On Quack Journalists
The Nigerian Union of Journalists has stated that it will soon begin a clampdown on quacks that abound in the profession.
Nigeria Steps Up Naira-Yuan Swap Deal
The lingering Naira-Yuan swap deal is set to be achieved as part of strategies to reduce the huge dollar demand and pressure on the local currency, News Agenecy Of Nigeria reports
Dangote, Others Meet Hollande To Strengthen Africa-France Ties
French President, François Hollande, met with 10 top entrepreneurs across Middle East, Europe and Africa, including Africa's richest man, ALiko Dangote in Paris last weekend. The meeting is to deliberate on ways to enhance and promote trade relations between Europe and Africa.
Nigerian Development Bank Set To Take Off
All is now set for the take off of the Nigerian Development Bank. The Federal Government announced this yesterday at a briefing in Washington on Sunday. The Minister of Finance, Mrs Kemi Adeosun said the government has been able to raise $1.3bn from the World Bank Group and other bodies.
Power Generation Drops As 2 More Plants Shut Down
The nation's power generating capacity dropped on Sunday as two power plants shut down. The affected plants are Olorunsogo II in Ogun State and Trans-Amadi in Rivers State. This brings the total number of idle power plants to 9.
Lagos To Develop Badagry Sea Port
Lagos State Governor Akinwunmi Ambode has met with representatives of APM Terminals to advance the development of the Badagry Deep Sea Port project.
IMF Introduces Zero Interests Rates For Nigeria And Other Low Income Countries
The Federal Government of Nigeria has been given a boost as the International Monetary Fund introduces zero interest on all its concessional facilities for all borrowing countries until 2018.