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Arik Airline Resumes Operations 16hrs After Shutting Down

Arik Air has resumed full operation today after Tuesday suspension of its operations due to  to its debts with major oil marketers and inability to  renew its aircraft insurance. This was disclosed in a statement   issued very last night  that flight operations were resuming after 16 hours of disruptions, apologising ...

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Foreign Reserve Drops By $1bn

The Nigeria foreign reserves have been depleted by one billion dollars in the last 5 weeks  according to the latest statistics from the Central Bank. The reason for the reduction is attributed to CentralBank almost daily sale of currencies or interventions at the new floating foreign exchange market. Africa’s largest oil producer sees its external ...

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We’re Available To Help, IMF Tells Central Banks

The International Monetary Fund (IMF) says it is available to help economies in sub-Saharan Africa at any time it is called upon. Disclosing this on Tuesday, Mitsuhiro Furusawa, IMF deputy managing director, said central banks in the region had been facing some challenges that could do with some help from ...

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Arik Airline Shuts Down Operations

Just lik Aero, First Nation, Arik Air has suspended all its operations from today. Over thousands of travellers booked the airline tickets  are currently stranded at both local and international airport in Lagos. Nigerian Current learnt that both its local and international flights have all be cancelled as well as regional ...

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Nigeria’s GDP/CPI, The Vexatious Recession And The Role Of Successive Governments By Emmanuel Undie

In light of the current recession and entire brouhaha over the state of our economy, it may be pertinent to take a look at the behaviours of governments and consumers over the decades which may have impacted negatively or otherwise on the economy, and lessons we can take home from ...

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Nigeria Raises N213 Billion In Treasury Bills

Nigeria raised 212.85 billion naira ($654.92 million) in an auction of treasury bills on Wednesday, with yields little changed from previous sales, data from the Debt Management Office (DMO) showed on Thursday. The DMO raised 45.85 billion naira of three-month paper at 14.38 percent, down from 14.99 percent in mid-August; ...

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CBN Lifts Suspension Of Eight Banks Ban From Forex

The Central Bank of Nigeria(CBN) has lifted the suspension of eight banks ban from access of foreign exchange as a result of non-compliance with the Treasury Single Account(TSA) rule Tokunbo Martins, director of the Central Bank of Nigeria (CBN speaking on Wednesday at a media briefing in Abuja, Martins said ...

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Again, CBN Meets Bank CEOs Monday, Considers All Options

• FG revenue drops to N1.159tn in Q2, investors await flurry of economic data this week In bid to ensure financial system stability and integrity, while restoring calm, the Central Bank of Nigeria (CBN) will today meet with the Body of Bank CEOs, following which it will consider the plea ...

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NIMASA Shares Views On Customs Board Chair

The Nigerian Maritime Administration and Safety Agency (NIMASA) has said that it was yet to lend its position to the on-going stakeholders debate on the constitution of the chairmanship and board membership of the Nigeria Customs Service, saying the agency may do so at the appropriate time. A statement by ...

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Kale: No Presidential Underhand in Delayed Release of July Inflation Figures

The Statistician General/Chief Executive, National Bureau of Statistics (NBS), Mr. Yemi Kale has refuted speculations that the release of the July inflation figures had been deliberately delayed by the presidency because it was unfavourable and reflect badly on its handling of the economy. Rather, he said the “delay was due ...

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