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In 1984, I Resisted Naira Devaluation, Fuel Price Increase and Was Overthrown- Buhari

President Muhamemd Buhari has further resolved not to devalue the naira and increase fuel price. Buhari speaking on Friday night at the 2016 regimental dinner organized by the presidential brigade of guards said during his time as head of state between 1984-85, he rejected IMF and World Bank suggestions to ...

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Huawei Sales Rises By 32%

Huawei Technologies Co., Ltd expects its sales revenue to grow 32 percent year on year in 2016. Huawei’s rotating CEO Eric Xu said that the company estimates sales revenue will stand at 520 billion yuan or 75 billion U.S. dollars in his new year speech on Friday. Huawei moved briskly ...

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High Cost ‘stops’ CBN From Printing Small Naira Denominations

The Central Bank of Nigeria (CBN) has not printed the small naira denominations for about a year, causing the scarcity of the notes in the economy, NAN is reporting. NAN quoted sources at the CBN as saying that for a year now, the apex bank did not award contract for ...

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MTN Pays N80b of M330b Fine

MTN Nigeria has paid N80 billion of the N330 billion fine imposed on it for failing to deactivate more than five million unregistered SIM cards. The Minister of Communications, Mr Adebayo Shittu, told NAN in Abuja that the company paid the sum as the first instalment out of the three ...

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Oil Price Rises to $53.1

Oil prices extended gains in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices. NYMEX crude for February delivery CLc1 was up 16 cents at $53.18 a barrel by 0002 GMT, after closing up 7 cents at ...

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Etisalat, Gionee Partner On New 4G Enabled Gionee M6

In furtherance of its commitment to deepen customer experience and create quality touchpoints, most innovative and customer-friendly telecommunications network, Etisalat Nigeria has partnered with mobile phone manufacturer Gionee to launch its new LTE Smartphone, Gionee M6. The new Gionee M6 LTE Smartphone would give Etisalat subscribers better access to the ...

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NIMASA Shuts Three Jetties Over Safety Breaches

The Nigerian Maritime Administration and Safety Agency (NIMASA), has shut three private jetties and port facilities, alleging safety breaches. Head, Corporate Communications of the apex maritime regulatory agency, Hajia Lami Tumaka, said the action was in pursuant to NIMASA’s mandate as the Designated Authority (DA) for the implementation of the ...

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Senior Female Customs Officer Abducted In Lagos

Few days away from Christmas, kidnappers again struck in Lagos with the abduction of a top ranking female customs officer, Mrs. Betty Kolo. Kolo, a Chief Superintendent of Customs, was abducted by unknown men Tuesday night at about 8pm in Festac Lagos. Although details of her abduction remain sketchy as ...

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CBN To Eliminate Forex Black Market

The Central Bank of Nigeria (CBN) is set to eliminate the foreign exchange black market in Africa’s biggest economy, the Minister of Finance, Mrs. Kemi Adeosun, said Tuesday. The naira trades, sometimes 40 per cent below the official rates, against the dollar. Commenting on the wide gap, Adeosun said the ...

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Arik Operations To Be Shut Down From Tuesday By Workers Strike

Three unions in the aviation sector, National Union of Air Transport Employees (NUATE) , Air Transport Senior Staff Services Association of Nigeria (ATSSSAN) and the National Association of Aircraft Pilots and Engineers (NAAPE have issued a notice directing all their members to commence joint strike at Arik Air, with effect ...

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