Seven banks fall short of CBN stress test

The result of the Central Bank of Nigeria stress test on banks has revealed that the funding positions of seven commercial banks are inadequate. The affected banks were not publicly identified by... Read more »

Forex: CBN injects $325.56m, CNY14m into retail SMIS

The Central Bank of Nigeria (CBN) on Friday, October 18, 2019, made an intervention of $325.5million in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and shorttenored forwards... Read more »

FG, labour reach agreement on minimum wage

After hours of intense negotiations, the Federal government and the labour unions have reached a deal on the implementation modalities for the new minimum wage. The government and labour unions had disagreements... Read more »

Transcorp wins Afam power station with $343.6m

The National Council on Privatisation (NCP) has approved Transcorp Power Consortium as the preferred bidder for the Afam Electricity Generation Company (Afam Power Plc and Afam Three Fast Power Limited) with a... Read more »

Another fuel tanker explodes in Onitsha

Another petrol tanker has exploded along Enugu-Onitsha expressway by Bessoy filling station, Onitsha, Anambra State. The incident, coming barely 48hours after lives were lost following fuel tanker explosion in Upper Iweka and... Read more »

Who will fund Aisha’s office? PDP asks Buhari

PDP has reacted to the recent appointment of six aides for the office of the first lady by asking President Buhari to explain how it will be funded.   In a statement released on Thursday,... Read more »

A nation is as poor as her scholars are patriotic

If you want to be a rainmaker in Nigeria today, here is one golden chance. All you need is simple. Seek out the nearest Baba Ijebu and bet that the recently purchased... Read more »

Buhari orders forensic audit of NDDC books

President Muhammadu Buhari has finally directed that a close audit of the Niger Delta Development Commission (NDDC), which was set up in 2000 to develop the oil-rich Niger Delta region, should commence... Read more »

FG mulls excise duty on carbonated drinks

The Minister of Finance, Mrs. Zainab Ahmed, has disclosed that the Federal government is considering introducing excise duty on carbonated drinks. The minister made this known while addressing journalists on the sidelines... Read more »

FG not optimistic about recovering $62bn from oil majors

Oil minister Timipre Sylva said Nigeria knows it cannot recover $62 billion from oil majors despite ongoing cases against the companies for money the government believes it is owed. “Nobody can bring... Read more »
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