Latest Nigeria Business News
The naira has appreciated against the dollar at the parallel market, exchanging at N363 to the dollar from the N364 posted on earlier in the week. The pound sterling and the Euro closed at N477 and N428 to the naira, respectively. At the Bureau De Change (BDC) window, the naira was traded at N363 to […]
The Consumer Protection Council, says it has neither contributed nor participated in the dispute or judicial process against Coca-cola. A statement signed by the Consumer Protection Council’s Deputy Director,Public relations,Abiodun Obimuyiwa, said the only connection with the case was the role played by the director General before his appointment. “Our attention has been drawn to […]
Oil has risen toward 53 dollars a barrel ahead of a U.S. inventory report expected to show crude stocks dropped for a sixth week. Brent crude LCOc1, the global benchmark, was up 50 cents at 52.64 dollars, after two days of decline. U.S. West Texas Intermediate (WTI) crude CLc1 added 44 cents to 49.61 dollars […]
The Nigeria Extractive Industries Transparency Initiative (NEITI), Nigeria Sovereign Investment Authority (NSIA) and National Orientation Agency (NOA) have agreed to partner in oil revenue savings and promotion of better attitude to public office. A statement by Dr Orji Ogbonnaya Orji, NEITI’s Director of Communications, said in Abuja that the agencies reached the agreement at separate […]
Nigerian doctors have cited salary deductions and low work satisfaction as some of the reasons for seeking better jobs overseas. House officers, corps members, medical and senior medical officer, residents, registrars, consultants and medical directors, among others said poor salaries and emoluments as well as the huge knowledge gap were other reasons for their decisions. […]
A total of 740 civil servants on Monday received N643m from the Federal Mortgage Bank of Nigeria as loans for the renovation or construction of houses. The FMBN said the disbursements of the funds were meant to ensure that public servants had access to housing loans as contained in Section 14(2) of the National Housing […]
Domestic carrier, Air Peace, says it has concluded plans to have its maiden flight into the Akure Airport. The airline’s Corporate Communications Manager, Mr. Chris Iwarah, said the carrier was collaborating with the Governor Rotimi Akeredolu administration to guarantee easy access to Ondo State by investors, tourists and other categories of air travellers. He said […]
The Federal Executive Council has approved the establishment of the proposed Information and Communications Technology University of Nigeria. The Acting President, Prof. Yemi Osinbajo disclosed this at the opening of a two-day summit on Smart Cities in Nigeria in Abuja on Tuesday. The implementation committee of the proposed university submitted its report to the Minister […]
The Bank of Industry (BoI) has been awarded the International Organisation for Standardisation (ISO) 9001:2015 for Quality Management Systems. Mr Olukayode Pitan, the Managing Director of BoI, said that the bank was strategically focused to re-invent and benchmark itself with global trends toward enhancing its service delivery profile to all stakeholders. Pitan spoke in Lagos […]
The Central Bank of Nigeria (CBN) has boosted the Foreign Exchange (FOREX) market by 195 million dollars intervention in three segments of the market. Mr Isaac Okorafor, the Acting Director, Corporate Communications Department of CBN, said this in a statement in Abuja. He said “in the wholesale segment of the inter-bank foreign exchange market, the […]