Naira’s fall: CBN moves against banks for hoarding $5billion
The Central Bank of Nigeria (CBN) hit the nail on the head yesterday. It accused commercial banks of hoarding over $5 billion in foreign currencies against the threshold approved by…
Mining Development: Fed Govt, Saudi Arabia to collaborate
The Federal Government and the Kingdom of Saudi Arabia would be collaborating to enhance the development of solid minerals in the country. The collaboration between the two countries is being…
Dangote receives one million barrels of crude, plans local supply
The management of Dangote Refinery has confirmed receiving the maiden one million barrels crude cargo. The crude was discharged at the refinery’s terminal on Thursday. In a statement on Friday,…
CBN to freeze accounts without BVN, NIN
Bank accounts without Bank Verification Number (BVN) and National Identity Number (NIN) will be frozen by the Central Bank of Nigeria (CBN) with effect from March next year. This is…
Nigeria, Germany sign 12,000mw power agreement
Nigeria and Germany yesterday signed an accelerated performance agreement aimed at expediting the implementation of the Presidential Power Initiative (PPI) to improve electricity supply in Nigeria. The signing ceremony, which…
PenCom invest N130bn pension fund in infrastructure
Pension Fund Administrators invested N130.18 billion funds under the Contributory Pension Scheme in infrastructure as of the end of September 2023. Figures obtained from the National Pension Commission on ‘Unaudited…
NNPCL to inaugurate $2.8bn AKK gas pipeline December
The Nigerian National Petroleum Company Limited has said the $2.8bn Ajaokuta–Kaduna–Kano gas pipeline project being constructed by Oilserve Limited will be inaugurated next month. Executive Vice President, Upstream, NNPC Limited,…
Renewable Energy: FG attracts $2bn investments
The Federal Government, on Sunday, announced that it attracted over $2bn in investments in the renewable energy sector over the past decade. It announced this through the Rural Electrification Agency,…
Manufacturers Association of Nigeria sack 3,567 workers, unsold goods hit N272bn
No fewer than 3,567 jobs were lost in the manufacturing sector in the first half of 2023 according to figures obtained by reporters from the Manufacturers Association of Nigeria. MAN…
OPS kicks against indefinite strike, Labour vows to shut down airports, others
The Federal Government has invited organised labour to a meeting in a last-minute bid to stop the planned October 3, 2023 nationwide strike announced by the Nigeria Labour Congress and…
