Fidelity Bank Plc has named its erstwhile Executive Director North, Alhaji Mohammed Lawal Balarabe, as the bank’s acting Managing Director/Chief Executive Officer, following the arrest of its MD/CEO, Mr. Nnamdi Okonkwo by the Economic and Financial Crimes Commission, EFCC.
The dollar extended its losses against the yen and euro Tuesday as fresh data indicating a slowdown in the US manufacturing sector lowered expectations the Federal Reserve will hike interest rates any time soon.
– Investigating the poll bribery scandal, the EFCC found out that $115m came from proceeds of stolen crude oil
The volatile economic situation in the country appears to have caught up with the consumers, with findings showing sharp decline in consumers’ confidence and attendant negative effects on Fast-Moving Consumer Goods (FMCGs).
Nigerian Breweries (NB) Plc has posted a revenue of N77.55 billion and profit after tax of N10.45 billion in its first quarter operations.
The Deputy Senate President, Chief Ike Ekweremadu, has said there was no bill on creation of grazing reserves before the National Assembly.
The Nigerian aviation industry, travel agencies are devising creative ways of remaining in business as the scarcity of dollar keep affecting their daily operations.
LAGOS — Amid myriad of restrictive measures to stem the steady slide in the external sector of the economy, a significant reversal of gains has been recorded in the foreign reserves, with latest figures at $27.1 billion as at last weekend, showing a decline by $730 million or about 2.6 per cent in April 2016, against $27.9 billion recorded in March.
The Federal Government has affirmed that mining business has the potential to buoy the nation’s economy by N5 trillion a year, with concomitant bright prospects of creating thousands of job opportunities.
Oil prices dipped Monday after enjoying another strong rally last week, with news of a jump in Iraqi exports bringing supply glut fears back to the fore.
2,000 indigenous firms attend Houston conference
• Kachikwu urges carbon initiative, blames suspension of oil search in Chad Basin on insurgency
A couple of years ago, Nigerian economy was growing at between 6-7%, GDP rate.
This was probably due to the fact that crude oil/gas, Nigeria’s main export earner, attracting 90% of foreign exchange, FX income and which constitutes about 11% of her GDP, was trading at over $100 per barrel.
AHEAD of today’s Workers’ Day, also known as May Day, a faction of the Nigeria Labour Congress, NLC, led by Joe Ajaero, yesterday, rejected the N56,000 national minimum wage proposal reportedly sent to the Federal Government by the Ayuba Wabba-led NLC and Trade Union Congress of Nigeria, TUC, saying it was not in tune with economic realities faced by workers.
– President Muhammadu Buhari has called on Nigerian workers to cooperate with the government for the progress of the country
– In his May Day message to workers, the president assured that the present administration will protect their rights and promote incentives for great productivity