There are Indications that owners of Arik Air which is currently under receivership have concluded arrangement to offset the airline’s debts to the Asset Management Corporation of Nigeria, AMCON, and other creditors.
Govt. Planning $600m Investment For Mining Sector — Osinbajo
Acting President, Prof Yemi Osinbajo, has disclosed that the country’s mining sector will receive $600 million investment fund through the Nigerian Sovereign Investment Authority, the Nigerian Stock Exchange and others.
CBN Set To Capture Forex Earnings From Exports
The Central Bank of Nigeria (CBN) has directed all exporters to strictly comply with the Foreign Exchange Manual, as it introduces Form NXP with a view to taking advantage of all exports in the push for increased foreign exchange earnings into the nation’s economy.
Stock Market Gains N659bn
Activities on the Nigerian Stock Exchange (NSE) remained on a bullish trend last week as equities gained N659 billion. With exception of Tuesday, the Nigerian equity market traded on bullish momentum all through the week under review. As such, the bullish run has been pushed into the third week in a row.
N-Delta Ministry Recorded Only 12 Per Cent Project Execution Since Inception.
The technical audit report on the Ministry of Niger Delta Affairs has revealed that the Ministry recorded I measly 12 percent project execution from N423bn spent from inception in 2009 to 2015. The audit report which was approved by the Federal Government
NYSC Members To Get N100m Interest-Free Loans
National Youth Service Corps Members are to get N100 million interest-free loans as part of the Skills Acquisition and Entrepreneurship Development (SAED) unit of the scheme.
Indonesia To Buy More Crude From Nigeria
Indonesian Ambassador to Nigeria, Mr. Harry Purwanto, has disclosed his country’s desire to increase Crude oil import from Nigeria Indonesia.
Forex Intervention: Expert Commend CBN, Call For Sustenance
Prof. Uche Uwaleke, a financial expert, has called on the Central Bank of Nigeria, (CBN) to sustained its intervention in the Foreign Exchange, FOREX, market, as the move is already manifesting positively in many sectors of the economy.
Improved Power Supply Coming - Fashola
The Minister for Power, Works and Housing, Mr. Babatunde Fashola, has declared that the country is set to witness improvement in power supply as a result of federal government efforts in the power sector.
CBN Offers Dollars At Special Rate To Manufacturers, Agric Biz, others
The Central Bank of Nigeria, CBN, has announced that Manufacturers, airlines, fuel importers and agriculture businesses will now be offered the dollars at a special market intervention.
14 States Are Non-Viable; can’t survive alone
According to a new report, fourteen States of the federation are insolvent as their Internally Generated Revenues (IGR) in 2016 were far below 10 per cent of their Federation Account Allocations (FAA) in the same year.