The Economic and Financial Crime Commission says it has frozen the bank accounts of former Secretary to the Government of the Federation (SGF) Babachir Lawal. According to Punch, both the personal account of Lawal and the account of Rholavision Engineering Limited, a company incorporated by the former SGF in 1990, have been frozen by the EFCC.

President will be President Muhammadu Buhari on Wednesday approved the appointment of Edward Lametek Adamu, Director of Human Resources at the Central Bank of Nigeria (CBN), as the new Deputy Governor of the Bank on the recommendation of CBN Governor Mr. Godwin Emefiele.

Mr. Edward Adamu will be replacing Mr. Suleiman Barau who retired in December 2017; subject to the confirmation of the Senate; along with others including that of another Deputy Governor, Aishah Ahmad, the Board of the Bank, and members of the Monetary Policy Committee.

Edward Adamu was born on June 22, 1959 (57yrs) in Kaltungo LGA, has acquired over twenty five years of experience at the CBN.

A coalition of militant groups in Ondo state on Friday gave oil companies in the state three days ultimatum to relocate from the state or face violent attacks on personnel and oil installations. The Secretary of the Coalition, Akinfemi Raymond who issued the ultimatum in Akure while addressing newsmen stated that the non-enrollment of their members in the Federal Government Amnesty Programme was the reason behind their grievances.

The Saudi Arabia-based Islamic Corporation for the Development of the Private Sector (ICD) aims to raise $1 billion for a new sharia-compliant fund that will focus on infrastructure projects across Africa.

The plan follows a shareholder agreement signed between the ICD, the private sector arm of the Islamic Development Bank, and the private equity arm of India’s Infrastructure Leasing and Financial Services Group.

The fund will launch with 105 million dollars in seed capital and expects to close its initial round of fundraising in the first half of the year, the ICD told newsmen.

The trade and economic cooperation between China and Nigeria has prospered with bilateral trade hitting $11.2 billion with first 10 months of 2017.

The figure put the growth rate at 28.5 per cent which made Nigeria as China’s third largest trading partner and second export partner in Africa.

Mr Zhao Linxiang, Economic and Commercial Counsellor, Embassy of China made this disclosure at a reception for participants of training courses in China in Abuja on Thursday.

He further said that China’s total investment in Nigeria had, so far, reached $2.7 billion.

The Nigeria National Petroleum Corporation (NNPC) has confirmed the presence of adequate hydrocarbon in the Sokoto basin, which it said possesses a depth of over 2000m, ideal for effectual oil exploration.

During a workshop on hydrocarbon potential held at the ultra-modern auditorium of Usman Danfodiyo University, being organized by the Petroleum Technology Development Fund (PTDF), the NNPC Group Managing Director, Maikanti Baru, beckoned on state governments of Sotoko,

Kebbi, Zamfara and Katsina, as well as other business firms to grab the opportunity and forward bids towards acquisition of oil blocks.

Governor of the Central Bank of Nigeria says the Monetary Policy Committee may start cutting interest rates in the first half of the year as inflation eases. Godwin Emefiele said once inflation gets to low double digits “and high single digit happens, then it should be easy for the MPC to begin to look at easing.

The Nigerian National Petroleum Corporation (NNPC) has announced plan to build more depots to ease products supply and distribution in the country.

The NNPC Spokesman, Mr Ndu Ughamadu said the the NNPC Group Managing Director, Dr Maikanti Baru, made the disclosure in Abuja while inaugurating the board of one of its downstream companies, NNPC Retail limited.

The Central Bank of Nigeria Governor said investing in the cryptocurrency is a “gamble” and hinted it may have to be regulated. Nigeria is where bitcoin trading grew the most last year. “Cryptocurrency or bitcoin is like a gamble, and there is a need for everybody to be very careful,” Emefiele said in an interview on Wednesday at his office in the capital, Abuja. “We cannot as a central bank give support to situations” where people risk savings to “gamble,” he said.

Vice President Yemi Osinbajo has informed participants at World Economic Forum (WEF) in Davos, Switzerland, that Nigeria is a ready to partner international investors and friendly nations to develop Nigeria’s manufacturing sector and promised to boost infrastructure to provide ambience for investment.

In a statement by his Special Senior Assistant on Media, Laolu Akande, in Abuja, Osibanjo stated that the Buhari administration working with the Private Sector is determined to boost the Nigerian manufacturing sector and will be engaging with international partners and friendly nations to realise the goal.

The Vice President stated this while meeting with a delegation of the Japan External Trade Organization (JETRO), led by Mr Hiroyuki Ishige, the organisation’s Chairman and CEO on the sideline of the World Economic Forum (WEF).