News

From left:  James Akume, Country Director, AIESEC; Olumide Orojimi, Head, Corporate Communications, The Nigerian Stock Exchange (NSE); Olasubomi Gbenjo, student, Good Shepherd Schools; Pai Gamde, Acting Head, Corporate Services Division, NSE; Sidikat Olajuwon, City of Knowledge Academy; Umeh Angel, Sacred Heart College; Ayodeji Akinbobola, Head, Children Banking, Access Bank Plc; Maxwell Ezenwa, Team Lead Liability Generation, First Bank Limited; Boluwatiwi …

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Skye Bank Plc, says it will not be able to submit its financial statement for the period ended December 31, 2016, due to some restructuring and changes that took place in the bank. According to a statement send to the Nigerian Stock Exchange sign by the company secretary Babatunde Osibodu “the bank is currently experiencing some delays with the completion …

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Tayo Olanipekun The National Automotive Design and Development Council (NADDC) has dismissed insinuations that the Federal Government may have jettisoned the National Automotive Policy owing to the present state of the Nigerian economy. NADDC Director General, Engr. Aminu Jalal, who recently refuted the allegation as baseless and unsubstantiated, said the Federal Government has already resolved to substantiate the policy initiative …

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The police have arrested a minister with the Mountain of Fire Ministries, Mr Franklin Chinedu for allegedly defrauding a widow of her husband’s gratuity. According to P.M.EXPRESS  the widow,  Charity Onje Isaac, was deceived through a false prophecy and lost the N850,000 she was paid by her late husband’s employer, Federal Airport Authority of Nigeria. Charity said Chinedu prophesied that he …

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The Central Bank of Nigeria has made moves to strengthen the naira currency to boost domestic manufacturing and lift the economy out of the recession caused by the slump in global oil prices. But analysts said the measures do not go far enough and foreign investment would only return to Africa’s most populous nation once the market determines the currency’s …

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South African telecoms giant MTN has paid nearly $100m of a $1.7 bn fine for failing to disconnect unregistered SIM cards in Nigeria, officials said on Friday. “MTN has paid N30bn ($98m, 92 million euros) as part of the fine,” Tony Ojobo, spokesman for Nigeria Communication Commission (NCC) told AFP. “The payment is in furtherance of the agreed timetable for …

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The Federal Government has disclosed plans to leverage on tunnelling technology to address the problem of population explosion and transportation in urban centres. The Minster of Transportation, Mr. Rotimi Amaechi, made this known at the first Nigeria International Tunnelling and Underground Space Conference organised by the Tunnelling Association of Nigeria in Lagos on Thursday. According to the minister, who was …

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President Muhammadu Buhari on Thursday said the nation’s economy was gradually recovering from recession. According to a statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President spoke while receiving the outgoing Ambassador of the Royal Embassy of Saudi Arabia, Fahad Bin Abdullah Sefyan, in audience at the Presidential Villa, Abuja. “Noting that the last farming …

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The Central Bank of Nigeria on Thursday said it would from next Monday begin the sale of foreign exchange to Bureau De Change operators twice weekly. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, who confirmed this, stated that the move was part of the apex bank’s determination to sustain the liquidity in the forex market. Specifically, he …

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The International Monetary Fund on Thursday urged the Federal Government to lift the remaining foreign exchange restrictions and scrap the system of multiple exchange rates in order to revive the Nigerian economy. The recommendation came in the Washington-based fund’s regular assessment of Nigeria’s economy. The report came on the heels of a recent visit by a team of the IMF …

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