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Ambode to launch world class Ikeja Bus Terminal

Governor Akinwunmi Ambode, will anytime from now launch a world class  bus terminal, first of it’s kind  in Ikeja, Nigeria, capital of Lagos state. The  Ikeja Bus Terminal was  developed by the State government  as part of the infrastructure for the Lagos Bus Reforms Project. It will serve as the …

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CBN bars UBA, GTB, First Bank from FOREX Market

 The Central Bank of Nigeria (CBN), on Tuesday, barred First Bank, the United Bank for Africa(UBA)  and 12 others  from dealing in the Small and Medium Entreprises (SME) wholesale Forex window. The  other  banks affected by the order are  FCMB, Keystone Bank, Main Street Bank, Stanbic IBTC, Citi Bank, Enterprise Bank, …

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Ecobank writes off N221.7b loan, posts N50b loss

Ecobank office in Nigeria   Ecobank Transnational Incorporated (ETI), on Tuesday cleaned its books of non-performing loans, by making a provision of N221.7 billion in its 2016 audited accounts. The bank said that its impairment charges, showed a jump of 110.7 per cent compared with N105.2 billion recorded in 2015. …

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Obiano begins $2b airport city project

Gov. Willie Obiano of Anambra  State has inaugurated an airport city project worth over $2billion  at Ifite-Umueri in Anambra East Local Government Area of the state. Inaugurating the project on Tuesday, Obiano said it was an important step in expanding the frontiers of excellence in the state. He disclosed that …

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NNPC denies plans to increase petrol price

The Nigerian National Petroleum Corporation (NNPC) has reiterated that it has no plans to increase the pump price of petrol. NNPC made the clarification in a statement by Mr Ndu ughamadu, its Group General Manager, Group Public Affairs Division. He explained that the recent increase in bridging allowance to transporters …

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CBN releases telephone line on Forex complaints

Godwin-Emefieli-CBN-Governor

CBN Governor The Central Bank of Nigeria (CBN) has released an emergency mobile phone line for customers denied access to foreign exchange by banks for medical bill and school fees. CBN also released email address for immediate complaint against any commercial bank that denies a customer access to foreign exchange. The …

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Modular refineries: FG to weigh all options

Illegal refiners in the oil-producing communities maybe co-opted as shareholders in the Federal Government’s proposed modular refineries, a presidency source has disclosed. The source who preferred to remain anonymous said the Presidency and the Nigeria Sovereign Investment Agency (NSIA) are collaborating to realize the plan, in fulfilment of promises made …

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Adeosun:Niger Delta militants cut Nigeria’s revenue

The Federation Account Allocation Committee (FAAC) on Tuesday shared N429.1 billion, about N36 billion less than what the three tiers of government shared as revenue for January. And the shortfall, according to the Finance Minister, Kemi Adeosun was caused by the unrelenting sabotage of oil pipelines by Niger Delta militants …

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CBN pumps another $180m to help Naira

The Central Bank of Nigeria (CBN) has offered additional S180 million to meet bids for wholesale auction and requests for invisibles such as medicals, school fees and personal travel allowances valued at $80 million through the inter-bank window. In a statement, on Monday in Abuja, the CBN’s acting Director, Corporate …

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