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IMF: Nigeria’s GDP Will Fall To New Low In 2016

The international monetary fund (IMF) says Nigeria’s gross domestic product (GDP) would be worse in 2016 than it was in 2015, despite plunging to a record low in 2015. The executive board of the IMF said it had concluded the article IV consultation with Nigeria, and projected a GDP growth …

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OPL 245 Billion Dollar Oil Scam: Shell’s Headquarters Raided

Royal Dutch Shell, the world’s second largest oil company, has been put under formal investigation by the Milan Public Prosecutor’s office for “international corruption” offences relating to a deal for oil block OPL 245 in Nigeria. According to reports in the Italian press on Wednesday,the headquarters of the Anglo-Dutch company …

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Firstbank Unveils Enhanced Features On Mobile Banking App: Firstmobile

As part of its effort to boost convenience and ease of banking as well as enhance customers’ digital banking experience in line with its commitment to offer value-added products and services that suit the lifestyles of its customers, Nigeria’s most valuable bank brand, First Bank of Nigeria Limited has unveiled …

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Firstmonie Introduces Talk360 To Enable Low Cost International Calls In Nigeria

Firstmonie, the mobile money platform for First Bank of Nigeria Limited, has partnered with MMIT (Mobile Media Info Tech) to introduce international calling app Talk360 to Firstmonie mobile wallet users and Nigerian consumers. This partnership gives consumers the ability to pay for low cost international calls through the Talk 360 …

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Nigeria Earns N1.94trn From Crude Export In 3 Months

NIGERIA earned N1.94 trillion from the export of crude oil and other petroleum products in the fourth quarter, Q4, of 2015, according to data released by the National Bureau of Statistics, NBS. The NBS, in its Foreign Trade Statistics for the Fourth Quarter of 2015, disclosed that Nigeria’s total exports …

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Electricity supply: GENCOs, DISCOs Plead For More Time

Generation and distribution companies in the country have asked for more time and patience from Nigerians to improve electricity supply. Their plea came as they identified weak transmission network as a major hindrance in the attainment of the 10,000 megawatts target set by President Muhammadu Buhari to be achieved in 2019. …

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Foreign Airlines To Sack 2,000 Nigerian Workers

The National Union of Air Transport Employees ,NUATE,  has revealed that  foreign airlines plan to sack about two thousand (2,000) Nigerian workers  due to what they claimed is their inability to transfer their earnings to their respective home countries to meet operational costs in accordance with international rules because of …

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Banks record N649bn Bad Loans In 2015

The amount of bad loans in the banking industry rose sharply by 78.8 percent to N649.63 billion in 2015, indicating severe deterioration in the quality of the loan portfolio of the 22 banks. This was contained in a Central Bank of Nigeria (CBN) Staff report presented to the Monetary Policy …

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Civil Society Coalition Defends Emefiele

THE Coalition of Civil Society Groups in Nigeria has risen in defence of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele over threats by a phony group with ties to the predominantly Yoruba speaking southwest, to picket the Governor on CBN’s policies. In a press statement …

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FOREX crisis: Food, Beverage Sector To Sack 3m Workers

Organised Labour, yesterday, raised alarm that the food, beverage and tobacco sector of the nation’s economy was on the verge of shutting down and that over three million jobs were at risk due to the inability of companies to source foreign exchange to import raw material for operations. Already, leading …

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