Business News

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Director of the International Monetary Fund, IMF, Miss Christine Lagarde, arrived Nigeria, yesterday, on a four-day official visit to engage with policy makers and other stakeholders on how her organization can partner the nation for a better economy.   While in Abuja, Lagarde will meet with President Muhammadu Buhari and other senior leaders as well […]

The Kwara State Road Traffic Maintenance Agency(KWARTMA) has explained the reason for the relocation of the dealers of second hand wears popularly known as ‘Post office Sunday-Sunday market,’the agency said the reason was to prevent accidents and traffic congestion. According to the Chief Executive Officer, KWARTMA, Mr Yekeen Babatunde Bello, while explaining the circumstances that […]

T, yesterday in Abuja said investment in the mobile telecoms industry would hit One hundred and sixty-six billion dollars and create over six-point-one million jobs by year 2020. According to him, two-point-seven million direct jobs would be created, while another three-point-four million indirect jobs would also come from the sector. Mr. Shittu, who spoke while […]

The Central Bank of Nigeria, CBN, has urged business owners in Kwara state and Nigeria at large to embrace the new PAVE policy in order to deepen the foreign exchange market by improving supply of foreign exchange into the market. CBN Head of External Communications, Mr. Isaac Okorafor, stated this at the two-day CBN fair […]

The oil price is unlikely to recover next year, according to the boss of the French energy giant, Total. barrel, down more than sixty percent since last summer, while US light crude is trading below forty dollars a barrel. Oil prices have not been this low for more than ten years. And Total’s Patrick Pouyanne […]

The federal government has disclosed that it was working out a new operational model with which Nigeria’s four refineries would run starting from 2016.The government, through the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated that under the new arrangement, the refineries would operate as semi-autonomous business entities, buying and refining petroleum products […]

The Director, African Department of International Monetary Fund, IMF, Ms Antoinette Sayer, has said that measures put in place by the Central Bank of Nigeria, CBN, to restrict access to foreign exchange, forex, needed to be reviewed. she said this in respect tofurther widening of the parallel market margin in  foreign exchange market records  While CBN […]

The EFCC’s lead counsel in the alleged CBN currency scan, Mr Rotimi Jacobs, today said the defence counsel was scuttling further trial of the accused persons. Jacobs made the remark while addressing journalists after further hearing was grounded due to the inability of the defence counsel to serve process. He said it was a situation in which […]

The pioneer Executive Secretary of Petroleum Products Pricing Regulatory Agency (PPPRA) and immediate past Executive Secretary of Petroleum Technology Development Fund (PTDF), Dr. Oluwole Oluleye has stated that the administration of former President Olusegun Obasanjo reviewed the prices of petrol frequently to reduce government’s subsidy bill and position the sector on the path of full […]

The cost of borrowing for Nigeria rose yesterday just as the naira weakened again in the wake of the Central Bank of Nigeria’s (CBN’s) new foreign exchange rules to conserve scarce reserves, traders said. Investors had hoped for a sustained rally after smooth elections in March eased uncertainties about political risk in Africa’s biggest economy. […]

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