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Refund to bank customers stand at N76.7bn, $20.9m – CBN
The Central Bank of Nigeria (CBN) says the worth of money refund to bank customers as at Nov. 30 stood at N76.75 billion and 20.90 million dollars. Mr…
TAJBank Unveils Second Branch in Kano
TAJBank, Nigeria’s newly licenced non-interest bank has announced the launch of its second branch in Kano State. The launch, which held at the bank’s office in Kano,…
New brands of local rice flood major markets, as prices of major items drop
The local price of rice recorded a significant drop after weeks of price hikes following the closure of Nigerian land borders. Latest Nairametrics Food Price Survey reveals more brands of local rice have now flooded major markets in the…
Border Closure Has Prevented Neighbouring Countries From Killing Our Economy – Indimi
The Founder, Oriential Group, the parent company of OER Farms Ltd , Dr. Muhammadu Indimi has said that the closure of borders by the federal government of Nigeria prevent the nation’s neighbouring countries…
$1.06b Malabu oil block: Govt, EFCC, Interpol in row over Adoke
THE International Police (INTERPOL) has rejected the request of former Attorney-General and Minister of Justice Mohammed Bello Adoke for release from its custody in…
Arsenal announce £30million loss in matchday revenue
Arsenal have announced a £30million loss in matchday revenue for the year ending May 31 2019. Having previously posted a pre-tax profit of £97.4million, the club have now revealed a pre-tax loss of £23.5million, as…
Price of Bonny Light hits $65.47 per barrel
The price of Bonny Light, Nigeria’s premium oil grade, has risen from $63.00 to $65.47 per barrel as the Organisation of Petroleum Exporting Countries, OPEC, cuts output by…
OPEC Agrees to Slash Output Target by 500,000b/d
The Organisation of Petroleum Exporting Countries (OPEC) yesterday in Vienna, Austria agreed to reduce its output target by 500,000 barrels a day.At the 7th OPEC and non-OPEC Ministerial Meeting, which ended…
UK court rejects registration of Ogoni suit judgment against Shell
A United Kingdom court on Thursday, December 5, 2019 dismissed the application by some leaders of Ejamah Ebubu community in Ogoniland to register the judgement of a…
Lagos okays N250m for research, innovation council
THE Lagos State government on Thursday said it has voted N250million for its agency for speeding up innovation, the Lagos State Science, Reasearh and Innovation…
South African Airways secures state-led rescue
South African Airways was placed under a state-led rescue plan on Thursday as part of a massive restructuring following a costly week-long strike last month.Thousands of South African Airways (SAA) staff walked out…
Stanbic IBTC attracts $1.6b capital Inflow in Q3, says NBS
STANBIC IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has emerged as the financial institution that attracted the highest amount of…
World’s Biggest Oil-Refining Tower Completes 11,000-Mile Voyage
It’s the length of a soccer field and the weight of 320 large elephants, but the world’s biggest oil-refining tower has finally reached its destination -- Nigeria -- after an 11,000 mile voyage.The…
Banks’ loans to private sector now N16.25trn
The value of credits allocated to the private sector by Nigerian banks hit N16.25 trillion as at the third quarter of 2019.Data on Electronic Payment Channels in the Nigeria Banking Sector released yesterday by…
Larry Page, Sergey Grin Google co-founders resign from Alphabet
Google co-founders Larry Page and Sergey Brin, have decided to step aside from control of their parent company, Alphabet. They will however remain on the board. In a joint…
Accugas moves against Nigeria, issues notice of default over Calabar GenCo
President Muhammadu Buhari’s bid to raise foreign loans for infrastructural projects is already in jeopardy as the gas supply agreement (GSA) between the…
U.S. vows 100% tariffs on French Champagne, cheese, handbags over digital tax
The U.S. government on Monday said it may slap punitive duties of up to 100% on $2.4 billion in imports from France of Champagne, handbags, cheese and other products, after concluding that France's new…
Nigeria’s fuel consumption down by 30% since border closure – Buhari
President Muhammadu Buhari says domestic fuel consumption in Nigeria has dropped by 30 percent since his administration took the decision to close…
Border closure could not have come at a better time – Stallion Group
Anant Badjatya, the agent of Stallion Group in Nigeria, says the decision to close the country’s land borders could not have come at a better time.…
Nigerian court orders detention of Emirates plane over $22K debt
A Federal High Court sitting in Lagos has ordered the detention in Lagos of an Airbus aircraft belonging to Emirates Airline over N8.1 million($22,103) judgment debt. The…
TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution
TAJBank, Nigeria’s second non-interest financial institution, has announced the launch of its services at its state of the art facility in Abuja…
Bank customers to present tax card from next month
EVIDENCE of tax payment will be a condition for operating a bank account from January, according to the Financial bill passed by the National…
N5tr debt: Senate backs AMCON on recovery plan
The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, has declared that the Senate will support the Asset Management…
$60 billion forex cash keeps Naira stable for 29 months – Emefiele
The $60 billion inflows from the Investors’ and Exporters’ Foreign Exchange (I&E Forex) Window has contributed to the sustained stability of the naira against…