The World Bank has said Diaspora remittance into Nigeria is expected to exceed $20bn by the end of the year as total remittances into the Sub-Saharan Africa region increase by 1.9 per cent. This was revealed in the World Bank’s latest Migration and Development Brief released this month, which stated that the global remittance […]
Titan Trust Bank has denied claims of illegalities in its acquisition of the Union Bank of Nigeria Plc. A report by the special investigation panel on the Central Bank of Nigeria (CBN) and other related entities had accused Titan Trust of acquiring Union Bank of Nigeria through ill-gotten wealth and other sharp practices. In […]
Famfa Oil Limited, an indigenous energy company, has received rights to six lucrative offshore oil blocks from the government of Sierra Leone. In a statement seen by TheCable on Sunday, Julius Sandy, secretary to the president of Sierra Leone, said the award follows the successful completion of the West African nation’s fifth licensing round […]
Ahead of Christmas celebration, the naira, for the umpteenth time, weakened against the dollar on Friday, December 22nd, 2023, falling 2.71% to close at N885.88/$1, according to data extracted from the Nigerian Autonomous Foreign Exchange Market (NAFEN) where forex is officially traded officially. Data from the NAFEM showed the naira’s loss representing a N23.97 […]
The Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions. This is according to a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the apex bank’s Director, Financial Policy and Regulation Department, Haruna Mustafa. […]
The federal government on Thursday, December 21, apologised to Nigerians over the current scarcity of Naira notes in circulation, saying that it will ease in the coming year. The Minister of Information and National Orientation, Mohammed Idris said the scarcity was not deliberate. Idris, who briefed the media on the achievement of the Bola […]
The House of Representatives has directed its Committee on Aviation to invite the immediate past Minister of Aviation, Hadi Sirika, to brief it on the status of the proposed national carrier, Nigeria Air, as of the time he left office. The former minister is expected to provide insights on a wide range of controversies […]
Angola said on Thursday it would leave OPEC over a disagreement on production quotas following the oil cartel’s decision last month to further slash output next year. Mineral Resources and Petroleum minister Diamantino Azevedo said that the decision was not taken lightly, but OPEC membership no longer served the African country’s interests. “We feel […]
Police operatives attached to Ojo Division area of Lagos State on Wednesday, December 20, arrested one Imo Lawrence and his ally, Magnus Nwonka, allegedly involved in manufacturing fake drinks in the state. The Nation learnt that Lawrence aged 35 and Nwonka aged 42 were in possession of fake drinks. The spokesman for the Lagos […]
The Nigerian Communications Commission has directed all mobile Telecommunication operators in the country to deregister all phone lines without National Identity Numbers and those whose NINs have not been verified. The MTN made this known via a statement on the NSE right and the attached deadlines for implementation of the directive. The statement which […]
