Inactive Telephone Lines Increase to 67m in June, Says NCC

The Nigerian Communications Commission (NCC) has disclosed that inactive phone lines in the country increased from 65,186,763 in May to 67,331,498 in June 2016.The figures are contained in the ``Mont…

Debts: FG deducts N32bn from states' allocation

    Six states have been thrown into a serious financial mess after the Federal Government de?ducted the sum of N32 billion from the monthly allocations of some indebted states in the …

South Africa overtakes Nigeria as Africa's largest economy

Nigeria has lost its position of Africa's largest economy in dollar terms to South Africa.This is based on gross domestic product at the end of 2015, published by the International Monetary Fund.Base…

BREAKING NEWS: Verizon is acquiring Yahoo, ending the internet pioneer's two-decade run as independent company.

Yahoo has agreed to sell its core assets to telecom giant Verizon for $4.8 billion, ending a 20-year run by the internet pioneer as an independent company, the firms announced Monday.Verizon chief ex…

PENGASSAN and NUPENG suspend strike

After meeting with the Federal Government, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), suspended th…

Buhari appoints BBOG co-founder, Hadiza Usman, as new NPA boss

President Muhammadu Buhari has appointed Mrs Hadiza Usman as the Managing Director of Nigerian Ports Authority, NPA.She takes over from Alhaji Habib Abdullahi, who was reinstated as the NPA's MD by t…

5 ministers in London for investment drive

In a move designed to boost the economy, the Federal Government has dispatched five ministers to the United Kingdom (UK) to woo the country's investors.The delegation is led by the Minister of Trade …

Shell Nigeria resumes export of Bonny Light crude oil

Following the repair of the Nembe Creek Trunk Line, Shell Nigeria on Thursday, lifted its Force Majeure, and resumed export of Bonny Light crude oil grade from the Bonny Terminal.A statement released…

NCAA warns Airlines to stop selling tickets in foreign currencies

Airlines operating within the country have been warned by the Nigerian Civil Aviation Authority, NCAA, to henceforth, desist from selling flight tickets in foreign currencies.In a statement issued by…

U.S explains why they stopped buying NIgeria's crude oil

The  Outgoing Ambassador of the United States of America (USA) to Nigeria, Mr. James Entwistle, has said that his country stopped buying oil from Nigeria because it was getting the product at ch…

Senate summons ministers, Emefiele, others over MTN fine

The Senate yesterday summoned the Minister of Justice, Malam Abubakar Malami, his Communication counterpart, Adebayo Shittu, Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, over wh…

Microsoft to buy LinkedIn for $26.2B in cash, makes big move into enterprise social media

Huge news today in the world of M&A in enterprise and social networking services: Microsoft has announced that it is acquiring LinkedIn, the social network for professionals with some 433 million…

Banks move to limit over-the-counter withdrawals to N10,000

 A proposal to limit the over the counter cash withdrawal by bank customers to N10,000 has been tabled before the Central Bank of Nigeria (CBN). The Sub-committee on Payments Systems and In…

Foreign refineries to stop buying Nigeria's crude oil due to activity of militants

Nigeria's crude oil export ability has just taken a big hit as major refineries across the globe have concluded plans to stop the purchase of  the commodity from Nigeria due to rising uncertaint…

Shell suspends repairs of damaged pipeline over fears of reprisal attacks by militants

Any hope of an increase in Nigeria's crude oil export was dashed on Tuesday, as Shell Nigeria said repair works on the Forcados export pipeline had been discontinued due to rising insecurity in the N…

Mass Sacks: FG threatens to withdraw the licenses of erring banks

Despite giving directives to employers in the financial sector to halt their mass retrenchment of staff, the Federal Government of Nigeria on Tuesday, expressed shock that this order was being floute…

Record-Making Deal: Qatar sovereign wealth fund set to purchase Asia Square Tower 1

In what is being described as the largest-ever single-tower real estate deal in the Asia-Pacific region; US firm, BlackRock, has agreed to sell a 43-storey office building- the Asia Square Tower 1- i…

Flexible exchange rate: Experts decry non-release of guidelines

 Some capital market operators experts at the weekend decried the non-release of the flexible foreign exchange rate guidelines by the Central Bank of Nigeria (CBN), two weeks after the pronounce…

Nigeria's Barkindo becomes OPEC's new Secretary General

OPEC has appointed Nigeria's Mohammed Barkindo, who is a Former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), as its Secretary General. His appointment was announced …

FG is working on the establishment of a National Shipping Line- Amaechi

  Nigeria's Minister of Transportation, Mr. Rotimi Amaechi, says the Federal Government is working on  the establishment of a national shipping line to ensure the maximum exploitation of th…