Business

The Nigeria-China currency swap deal will not  stifle local companies and make the country a dumping ground for Chinese goods, the Central Bank of Nigeria (CBN) said yesterday. The 41 items banned since 2015 will not be valid for the swap exchange, the CBN said. CBN spokesnman Isaac Okorafor said: “The fear is unfounded and I’ll give you reasons. “The …

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An impact assessment study conducted by a Denmark-based consulting firm, Quantifying Business Impacts on Society (QBIS) has revealed that the operation of leading global port operating company, APM Terminals in Nigeria created a total turnover of around USD610 million (N186.05 billion) per year to the Nigerian economy from 2013 to 2016. The study titled “Nigerian Trade Stimulator – How APM Terminals …

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The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Adol Peterside has stated that security in the Nigerian Maritime domain is a work in progress that requires the commitment of all stakeholders to ensure optimum safety of all investments in the sector. Speaking at the weekend, Dr. Peterside stated that the Agency is taking the …

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In the face of real and obvious threat to safe flight operations, the Nigerian Civil Aviation Authority (NCAA) and the Lagos State Government (LASG) have elected to work together to curb the danger posed by unauthorized high rise structures scattered around Lagos metropolis. This collaboration was a resolution from a bilateral meeting between the NCAA Director General and the officials …

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Photo Caption: From Left; Godstime Iwenekhai, Head, Listings Regulation, The Nigerian Stock Exchange (NSE); Tinuade Awe, Executive Director, Regulation Division, NSE; Chief Anthony Idigbe SAN, Chairman, Ikeja Hotel Plc and Abatcha Bulama, Director, Ikeja Hotel Plc during the Facts Behind the Restructuring at the Exchange on Friday.

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In an attempt to overturn the economic situation of the country, experts have charged members of the private sector (organizations and businesses) to invest in Nigerian youths so as to help turn around the economy. The experts who double as high-level stakeholders spread across National Population Commission, UN agencies led by the United Nations Population Fund [UNFPA], HACEY Health Initiative, …

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The Minister of Budget and National Planning, Senator Udoma Udo Udoma on Friday, in Abuja, inaugurated the Joint Planning Committee (JPC) of the 24th edition of the Nigeria Economic Summit, with a mandate to deliver a Summit that will not only meet the expected outcomes but continue the work of placing the economy on a path of diversified, inclusive and sustainable …

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Ecobank Nigeria has commenced a youth engagement program in tertiary institutions across Nigeria as part of efforts to deepen financial inclusion by banking the youth. The initiative, themed ‘Ecobank Xpress Campus Storm’ will avail students of tertiary institutions the opportunity to open the Ecobank Xpress account, a digital account that requires no documentation, minimum balance or paperwork, simply by downloading …

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A global credit rating agency, Fitch Ratings, on Thursday affirmed Nigeria’s long-term foreign-currency issuer default rating at ‘B+’ with a negative outlook. It said the ‘B+’ rating reflected Nigeria’s position as Africa’s largest economy and most populous country, its net external creditor position, and its well-developed domestic debt markets, balanced against a high level of hydrocarbon dependence, low levels of …

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Shell Petroleum Development Company of Nigeria Limited has declared force majeure on exports of Bonny Light crude, one of the country’s major sources of oil revenue. Force majeure is a legal clause that allows companies to cancel or delay deliveries due to unforeseen circumstances. Reuters quoted traders as saying that a surplus of unsold cargoes was so large that differentials …

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