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 …

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 …

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 …

The United Kingdom Government on Friday deported 23 Nigerians for various immigration offences in the country. The all male deportees arrived at the Murtala Muhammed International Airport, Lagos at about 6 am in a chartered aircraft. The spokesman for the Nigeria Police Force, Lagos Airport Command, Joseph Alabi, confirmed the development. The deportees were received by officers of the Nigeria …

More than three billion people eat rice every day, the Food and Agriculture Organization has said. The Deputy Director-General of Climate and Natural Resources at FAO, Maria Semedo, said the agency was concerned about global rice production and eradicating hunger around the world. “With over three billion people across the globe eating rice every day, rice is critical to global …

Shanghai-listed COSCO Shipping Holdings Company, a unit of China Cosco Shipping Corporation Limited (Cosco Shipping), has reported a loss of $1.4 billion in its annual report for 2016. As a result the company proposed that no dividend is distributed this year. The loss was mainly attributed to the challenges posed by the complexity of the company’s reform and reorganization along with the grave …

Citing sustained dedication and loyalty over the years, Toyota Nigeria Limited (TNL) has honoured First Bank of   Nigeria with an Evergreen Award and N2.5m reward. At a colourful award ceremony held in Lagos on Thursday, TNL Chairman, Chief Michael Ade Ojo explained  that First Bank has over the years remained loyal to the Toyota brand. Also at the annual …

The Nigerian Civil Aviation Authority (NCAA) final ultimatum to the airlines to automate their remittance of the statutory 5% Ticket Sales/Cargo Sales Charge (TSC/CSC) ended today (Friday). The Authority had shifted the January 31st 2017 ultimatum to March ending at the instance of the Airlines Operators of Nigeria (AON) at their earlier meeting with the Director General, Capt.Muhtar Usman and …

Globacom, West Africa’s fully integrated telecommunications service provider, has been announced as the telecommunication partner of the third Annual Conference and fourth Annual General Meeting of the West and Central African Research and Educational Network (WACREN) holding in Abidjan, Cote d’Ivoire on Thursday and Friday, 30th and 31st respectively. Policy and decision-makers, scientists, researchers, network managers, collaboration specialists, e-learning, identity …

The Academic Staff Union of Universities, on Wednesday, told Nigerians to hold the Federal Government responsible for the growing corruption in public universities across the country. ASUU also directed its members to reject all incomplete salaries from the government starting from the end of March. According to the union, the cut in remittances to public universities by the Federal Government, …