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CBN Raises Forex Supply To Manufacturers, Oil Marketers To Get $200m For Fuel Imports

The President, Manufacturers Association of Nigeria (MAN), Mr. Frank Jacobs, disclosed this in a phone chat with THISDAY on Thursday. Similarly, the Nigerian National Petroleum Corporation (NNPC), in its financial and operations report for February, confirmed that it would in partnership with the CBN provide up to $200 million for …

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State Of The Nation: NLC To Declare One-Day National Warning Strike

THE Nigeria Labour Congress (NLC) has resolved to embark on a one-day  national warning strike over the state of the nation, especially the increase in electricity tariff. In an address presented by the NLC president, Comrade Ayuba Wabba, at the opening session of the Central Working Committee (CWC) meeting of …

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NERC Begs Consumers Over Blackout

The Nigerian Electricity Regulatory Commission on Wednesday begged Nigerians to exercise patience with the power generation and distribution companies with respect to the drop in electricity supply and the attendant blackouts being experienced nationwide. According to NERC, the drop in power supply is due to vandalism of critical installations and …

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Firstbank ATMs ;More Than A Cash Machine

In line with its traditions distinct leader  by total assets and gross earnings  in the Nigerian banking industry, First Bank of Nigeria Ltd,  is validating its leadership position yet again as it presently accounts for 45 percent of bills payment services on ATM in the nation’s banking industry as at …

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145 Textile Firms Lost To Economic Downturn —FG

The Federal Government on Monday said that a total of 145 textile companies had shut down operations between 1980 and now due to harsh economic climate. The Minister of State for Industry, Trade and Investment, Aisha Abubakar, stated this during a meeting with members of the Cotton, Textile and Garment …

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MMA2 Is Ready For Regional Operations —Bi-Courtney

Bi-Courtney Aviation Services Limited (BASL), private operator of the Murtala Muhammed Airport Two (MMA2), has faulted the claims in some quarters that insufficient space for parking aircrafts was delaying the commencement of international operations at its terminal. It will be recalled that BASL had obtained authorization from the Federal Airports …

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Bank Customers Lost N2.25bn To Fraudsters In 2015– CBN

Bank customers lost the sum of N2.25bn to fraudsters in 2015 despite a significant fall in the value of financial frauds recorded last year, data from the Central Bank of Nigeria and the Nigeria Inter-Bank Settlement System Plc showed. In 2014, fraudsters made 1,461 attempts to steal N7.8bn, but succeeded …

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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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