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MPR retained at 12% as CBN reintroduces flexible forex regime
The Central Bank of Nigeria, yesterday disclosed that it has concluded plans to in?troduce flexible foreign exchange rate management framework in the country.This came against the back drop of pressu…
NEITI Audit: NNPC Failed to Remit $13bn NLNG Earnings in Eight Years
Five months after failing to meet the deadline set for the release of the 2013 Petroleum Industry Audit, the Nigeria Extractive Industries Transparency Initiative (NEITI) finally made the report publ…
UK Would Lose At Least 500,000 Jobs After Brexit Vote: Osborne
Britain would lose at least half a million jobs within two years of a vote to leave the European Union and a fall in the value of the pound would push up inflation sharply, finance minister George Os…
Mitsubishi Motors president steps down over fuel scandal
Mitsubishi Motors has announced its president, Tetsuro Aikawa, will step down in the wake of the company's test-fixing scandal.The Japanese carmaker has already admitted that it has been falsifying f…
Inflation surges to 13.7% in April
The National Bureau of Statistics (NBS), on Monday revealed that the inflationary trend for the month of April had sharply increased, hitting a 13.72 percent high than the March rate of 12.8 percent.…
Stocks slide on lackluster growth as Yen advances
Global equities fell the most in a month and crude oil declined, while Treasuries surged with the dollar as evidence of limp economic growth around the world sparked a retreat from riskier assets.U.S…
Fidelity Bank Appoints Balarabe Ag MD/CEO
Fidelity Bank Plc has appointed Mohammed Lawal Balarabe, as its acting Managing Director. He replaces Nnamdi Okonkwo who is presently in Economic and Financial Crimes Commission's net. The bank'…
Dangote commences work on Okpella cement plant
Dangote Cement Plc on Saturday began the construction of a new cement plant in Okpella, Edo State. The President and Chief Exective, Dangote Group, Alhaji Aliko Dangote on Sunday, unveiled a $1 …
Capital Oil commences 24 hours loading of NNPC cargoes, promises to end fuel queues in the next few days
The fuel scarcity situation that has been biting Nigerians hard is about to come an end as NNPC has brought several cargoes of fuel into the country. This information was contained in a messag…
BMW CEO pushes electric cars, relies on luxury models for funds
BMW AG Chief Executive Officer Harald Krueger vowed to push the carmaker deeper into the market for electric cars and accelerate the introduction of self-driving features, while broadening the range …
NCC lifts ban on regulatory services to MTN
The Nigerian Communications Commission (NCC) says it has lifted the ban on regulatory services which it placed on MTN Nigeria for several regulatory infractions. The regulatory body says that the lif…
China wants more of Nigeria's oil
China has said it seeks more crude oil exports from Nigeria in spite of the recent changes in oil prices.Zao LingXiang, Economic and Commercial Counsellor of the Chinese Embassy in Nigeria, said this…
Buhari Approves NNPC's Unbundling into 7 New Divisions
The Federal Government on Tuesday announced its much awaited restructuring of the Nigerian National Petroleum Corporation (NNPC) into five major operational components.The new divisions …
Dangote: We'll start selling forex to CBN by 2020
President of Dangote Group, Aliko Dangote, has said that his conglomerate would be selling foreign exchange (forex) to the Central Bank of Nigeria (CBN) by the year 2020. Dangote, who is also th…
UBA Appoints Uzoka Group Managing Director
The board of the United Bank for Africa (UBA), yesterday announced the appointment of Mr. Kennedy Uzoka as its new Group Managing Director with effect from August 1st, 2016, subject to the approval o…
Nigeria fines Globacom, MTN N34 million
The Nigerian Communications Commission (NCC) has imposed fresh fines on MTN and Globacom (Glo) for breach of the Mobile Number Portability (MNP) business rules and regulations.MTN was slammed with a …
Nigeria announces removal of 23,846 ghost workers from government payroll
No fewer than 23, 846 ghost workers have been removed from the Federal government's payroll, saving the government N2.293 billion from the total salary bill for the ministries, departments and agenci…