The Director-General of the World Trade Organisation ( WTO), Dr Ngozi Okonjo-Iweala, has advised state governors in Nigeria against excessive borrowing. Okonjo-Iweala said this on Monday in Abuja at the Nigeria Governors’ Forum (NGF) 2023 induction for newly elected governors with the theme “Governing for Impact (Building Sub-national Governance)....
BUSINESS
Minister of Aviation, Hadi Sirika, says the national carrier, Nigeria Air, will commence operations before the present administrations winds down. Sirika made this clarification while briefing State House correspondents after the Federal Executive Council (FEC) meeting presided over Vice President Yemi Osinbajo on Monday at the Presidential Villa, Abuja....
The Naira depreciated against the dollar on Monday, exchanging for N464 at the investors’ and exporters’ window. The rate represented a decrease of 0.36 per cent when compared to the N462.33 it exchanged at the close of business on May 12. The open indicative rate closed at N463 .50...
The Central Bank of Nigeria (CBN), on Monday unveiled an e-learning platform, SabiMONI, to promote financial literacy and to deepen financial inclusion. Speaking at the ceremony, the CBN Governor, Mr Godwin Emefiele, said that the platform was a fully digital national e-learning platform that provided a knowledge base for...
Parallex Bank Ltd. has been awarded the Most Innovative Bank of the Year 2022 by Champion Newspapers and Regional Bank of the Year 2022 by National Daily Newspaper. The Managing Director of Parallex Bank, Dr Olufemi Bakre, said in a statement on Saturday in Lagos. He said the awards...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State. Tantita Security Services Nigeria Limited, a private security contractor, engaged bythe NNPC Ltd. made the arrests. Speaking, Captain Warredi Enisuoh, Executive Director,...
By TOM CHIAHEMEN – The Nigerian Content Development and Monitoring Board (NCDMB), has expressed confidence that the Nigerian Oil and Gas Park Scheme (NOGaPS) at Emeyal 1 Community in Ogbia Local Government Area of Bayelsa State, will be completed and ready for commissioning in the last quarter of 2023....
The Bank Verification Number (BVN) issued by the Central Bank of Nigeria (CBN) was initially to expire after 10 years, PRNigeria Fact-Check discovers. The factcheck was conducted after a viral video disclosed the expiry date, which was later denied by the CBN. While ascertaining the truth in the claim,...
Telecommunications Operators in Nigeria say they have been granted approval by the Nigerian Communications Commission (NCC) to disconnect banks over N120 billion Unstructured Supplementary Service Data (USSD) debt. This was made known in a statement signed by Mr Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of...
India’s aviation regulator on Friday imposed a fine of 3 million rupees (36,496 million dollars) on Air India. The airline was fined after a pilot of the private airline was found violating safety norms by allowing a friend inside the cockpit during a flight. The investigation into the incident...
The Infrastructure Concession Regulatory Commission (ICRC), said the approval for the concessioning of its four projects by the Federal Executive Council (FEC) would attract N647.7 billion revenue to Nigeria. This is contained in a statement signed by Mr Ifeanyi Nwoko, Acting Head, Media and Publicity, ICRC, in Abuja on...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday in Abuja expressed concerns over Nigeria’s N77 trillion public debt. Addressing the 7th triennial national delegates’ conference of the association, its president, Mr Festus Osifo, said the debt profile as at the first quarter of 2023...
The Nigerian Communications Commission (NCC) says it has been inundated with frequent complaints from consumers on fast depletion of their internet data. Its Chairman, Board of Commissioners, Prof. Adeolu Akande, made this known on Thursday at the NCC fifth edition of Campus Conversation held at the University of Ibadan....
By TOM CHIAHEMEN – Ahead of the take-off of the Nigerian Oil & Gas Park Scheme (NOGAPS) in Odukpani, Cross River, the Nigerian Content Development and Monitoring Board (NCDMB), assured on Thursday that the interests of the host community were being taken care of. The Board’s General Manager, Corporate...
By TOM CHIAHEMEN – Nigeria stands a chance to save over $20billion annually as the first oil and gas parks located in Odukpani, Cross River State and Yenegoa in Bayelsa State, are set to open their doors for business. Built by the Nigerian Content Development & Monitoring Board (NCDMB),...
By OLA MUDOPE, Lagos – The Cinema Exhibitors Association of Nigeria (CEAN) on Thursday said it generated N566 million from tickets sold across the country in April. The National Chairman of CEAN, Mr Opeyemi Ajayi, said in a statement on Friday that there had been an appreciable increase in...
The Debt Management Office (DMO) has assured Nigerians that Federal Government of Nigeria (FGN) Securities are the most rewarding Naira denominated investment. The Director-General of the DMO, Patience Oniha gave the assurance on Thursday in Port-Harcourt, during the FGN Securities Issuance Awareness Programme in the Port-Hacourt. Oniha, who was...
…targets Nigerian civil servants, others An Abuja-based Real Estate firm, WEPHCO Technologies has entered into a partnership with the government of Abu Dhabi to provide investment opportunities for interested Nigerians in the public and private sectors to invest in the gulf state’s rising real estate sector. The mouth watering...
Mr Basil Omiyi, the Chairman of Board, Seplat Energy, said the company’s total revenue rose by 29.8 per cent to $951.8 million as at financial year ended Dec. 31, 2022. Omoyi said this during his address at the company’s 10th Annual General Meeting (AGM) held virtually on Wednesday with...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has debunked reports suggesting that the Bank Verification Number (BVN) issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) expires after a ten-year period. The CBN Acting Director, Corporate Communications, Isa AbdulMumin, stated this...