NIGERIA and other governments in Africa need to be tougher when negotiating the terms of Eurobonds and commercial loans, the African Development Bank (AfDB), warned on Monday. Its President, Dr Akinwumi Adersina, said some external debts mature before the infrastructure projects they fund start generating returns, which raises refinancing risks. Neither should African borrowers be […]

NIGERIAN equities lost N209 billion on Monday as investors overlooked earnings and dividend yields and opened up market orders to close transactions at lower prices. With weak macroeconomic outlook and global scare over the Coronavirus crisis, more than three of four transactions at the Nigerian Stock Exchange (NSE) yesterday were closed at lower prices. Benchmark […]

ONGOING offensives against bandits hideouts in forests around Kaduna State will be sustained, the Presidency has assured. The government’s resolve came on Monday in the wake of Sunday’s attacks on some communities in Igabi and Giwa council areas of Kaduna State by suspected bandits, who were said to be on a revenge mission. Reports claimed […]

The World Health Organisation (WHO) said the United Nations has released 15 million dollars emergency funds to help vulnerable countries fight coronavirus (COVID-19) The Director-General, WHO, Dr Tedros Ghebreyesus, disclosed this on the agency’s twitter handle, @WHO, Monday. Ghebreyesus said that the potential spread of COVID-19 to countries with weaker health system was one of […]

The Agbowu of Ogbaagba, Oba Dhikirullahi Akinropo, has dragged Oluwo of Iwo, Oba Abdulrosheed Akanbi, before an Osun State High Court, demanding N100m damages for an alleged assault against him by the royal father. In a writ of summons dated 27th of February, 2020 issued by his counsel, Soji Oyetayo, detailing demands of Oba Akinropo, […]

The Department of Petroleum Resources has lamented the high rate of crude theft in the country. The agency also disclosed that it generated N2.4tn to support government revenue in 2019 despite the challenge of oil theft. It explained that theft was still being perpetrated in five out of the 28 land terminals in the country. […]

Business activity, production level, new orders, supplier delivery time, employment level and raw materials inventories grew at a slower rate in February 2020. The Central Bank of Nigeria’ Statistics Department disclosed in its February 2020 Purchasing Managers’ Index Survey Report. It stated that the Manufacturing PMI in the month of February stood at 58.3 index […]

The House of Representatives has summoned the Minister of Science and Technology, Ogbonnaya Onu following the failure of the Natural Medicine Development Agency to audit its accounts for nine years. Others summoned by the lawmakers for the infraction are Permanent Secretary, Mr Bitrus Nabasu; and the Head of the Civil Service of the Federation, Dr […]

The House of Representatives has begun investigation into how the Federal Government spent the $1bn special security fund approved for it by the National Assembly. Part of the money was used to acquire 12 Super Tucano fighter aircraft from the United States. The House is carrying out the probe as it is considering a five-year […]

No fewer than 100 people had contacts with the Italian who is Nigeria’s Coronavirus (COVID-19) index case, the Lagos State government said on Sunday. Commissioner for Health, Dr. Akin Abayomi, told Reuters: “It is around 100 people (that have been identified). He added that the number is increasing every minute.” Dr. Abayomi explained that many […]