Nigeria’s Acting President, Professor Yemi Osinbajo, says Nigeria is opening up itself for free enterprise and urged investors to leverage on the opportunities being created in the country to establish their businesses in Nigeria. Osinbajo stated this on Monday when he addressed the meeting of delegates from the Nigerian Initiative for Economic Development, NEID, United […]

The Nigerian National Petroleum Corporation (NNPC) said on Monday the nation’s current crude oil production had risen to 2.35 million barrels per day. Its Group Managing Director (GMD), Dr. Maikanti Baru, said this at the inauguration of the members of the corporation’s re-constituted anti corruption committee in Abuja. He said : “In the upstream, we have […]

Nigeria Liability Insurance Pool has said it is planning to deplore its resources to build long-term sustenance value for its stakeholders and explore more emerging risks. The Chairman of the company, Mr. Edwin Igbiti, disclosed this during the organisation’s annual general meeting in Lagos. He said, “The areas of focus among others are the new […]

AK Pensions Limited (Pension Fund Administrator)’s profit rose by 76.8 per cent from N130.57m in the 2015 financial period to N230.88m in 2016. The Chairman, OAK Pensions, Dr. Awa Ibraheem, disclosed this in its annual report that he presented during the company’s 11th Annual General Meeting in Lagos. He also said that the company was […]

Some unpaid federal government retirees have protested the non-payment of their pensions and other entitlements. The pensioners demanded the immediate payment of outstanding 33 per cent arrears of 18 months being owed pensioners by the Federal Government; immediate conduct of verification in Lagos and issuing cheques of those not on the payroll; immediate payment of […]

The Central Bank of Nigeria has said banks and other electronic payment service providers must navigate the evolving and increasing complex regulatory environment to avoid penalty. The Director, Banking and Payments System Department, CBN, Mr. ‘Dipo Fatokun, described fraud as the biggest challenge facing the electronic payment sector, stressing the need for banks, customers and […]

The Federal Mortgage Bank of Nigeria has expressed its displeasure over what it calls unimpressive performance of developers of some federal housing estates in Akure, the Ondo State capital. The bank stated that the developers failed to hand over the estates to the off-takers after completing them, but instead rented them, adding that this might […]

The Federal Government will today (Monday) offer for subscription two-year and three-year Savings Bonds to investors at 13.54 per cent and 14.54 per cent, respectively. A statement issued by the Debt Management Office in Abuja on Sunday said the two-year bond would be due in August 2019, while the three-year bond had a maturity date […]

 The naira closed at 365 per United States dollar at the parallel market on Sunday, reversing the gain it recorded in the past week. The local unit had closed last week at 363/dollar. The naira, which initially traded at 365/dollar, recorded slight after the Central Bank of Nigeria sold $462m to players in the foreign […]

The total quantum of electricity on the nation’s power grid crashed by 1,835.6 megawatts within a period of three days. After reaching a peak of 4,282.6MW on August 2, 2017, power generation dropped to as low as 2,447MW on August 5, according to the latest data on the performance of the grid obtained in Abuja […]