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CBN begins refund of N500 billion LDR penalties to Banks

The Central Bank of Nigeria (CBN) has started refunding the Deposit Money Banks, part of the N500 billion imposed as additional cash reserve for breaching the regulator’s…

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Ahmed explains why FG needs fresh $3 billion debt from World Bank

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has disclosed that the Federal Government requested a fresh $3 billion loan from the World Bank…

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How Nigeria can finance its budget deficit without loans – BPE boss

The Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh has urged the government to stop financing budget deficit every year with borrowings from foreign and…

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Konga now offering merchants loan at 2.08% interest rates

The Chief Executive Officer of Konga, Nnamdi Ekeh, has disclosed that the e-Commerce company has taken an unusual path by offering its merchants, loans and credit facility. Ekeh said…

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Nigeria generates over N1.2 trillion oil revenue in 3 months, up by 44.1%

Nigeria generated over N1.2 trillion in oil revenue between June and August 2019. This is disclosed in the latest Economic Report released by the Central Bank…

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Jobs have been lost and prices have skyrocketed – LCCI’s DG speaks against border closure

The closure of Nigeria’s borders by the Federal Government is causing a lot of damage, according to the Lagos Chamber of Commerce & Industry (LCCI). The LCCI…

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Buhari approves N10 billion for the upgrade of Enugu Airport

President Muhammadu Buhari has announced the approval of N10 billion naira for the reconstruction of Akanu Ibiam International Airport, Enugu. On his official Twitter handle, the President said, “I have approved the…

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Nigeria will enjoy foreign investments before December, IMF predicts

Despite the rising debt profile especially from China, the International Monetary Fund (IMF) has predicted better times for Nigeria, stressing that financial conditions in Nigeria favoured more…

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Dangote Refinery affirms commitment to youth development

In a bid to contribute its quota to youth empowerment and capacity building, Dangote Petroleum Refinery and Petrochemicals Company organised a skill acquisition programme for the youths…

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4 Nigerians out of 10 Africans make Jack Ma’s $1m Netpreneur Prize

4 Nigerians out of 10 Africans have been shortlisted for the Africa Netpreneur Prize Initiative founded by Chinese billionaire, Jack Ma. The 10 finalists will participate in the finale pitch competing for…

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States’ debt stock hits N5.27 trillion, as Imo, Rivers borrowed the biggest

The debt stock of states in Nigeria rose to N5.27 trillion in June 2019. This is reflected in the latest report released by the Debt Management…

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Innoson calls ‘student’ graphic designer for pitch meeting

Innoson Vehicles, indigenous automaker, may change its trademark logo if the company’s meeting with a student of University of Ibadan (UI), Farouq Osuolale, who designed…

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GTBank, Access, Zenith, UBA, FBN loans rise to N9.28 trillion in six months

TBank, Access Bank, Zenith Bank, United Bank of Africa and First Bank (FUGAZ) gave loans worth N9.34 trillion to their customers in the first half of…

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Nigeria gets real with $62 billion demand from IOCs

Despite ongoing litigations by Nigeria demanding that international oil companies operating in the country should pay up money they owe to the tune of $62 billion, the…

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AfDB to hire professionals through 2019 YPP

African Development Bank Group (AfDB) has launched the 2019 edition of its Young Professionals Programme to attract highly qualified and motivated professionals across member countries. YPP…

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Netflix addresses streaming war between Apple and Disney

Netflix has addressed the brewing competition in the streaming market space, as the launch of Apple+ and Disney+ are fast approaching. Nairametrics understands that since…

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Belema Oil partners MAN Energy Solutions on power generation

Belema Oil Producing Limited (BPL) is set to partner with MAN Energy Solutions, a turbomachinery international company through American equipment exporter, Combustion Associates Inc. (CAI)…

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IGI cuts 60 jobs, as MD seeks turnaround measures

60 employees engaged with Industrial and General Insurance (IGI) Plc have allegedly lost their jobs due to prolonged liquidity issues encountered by the company. Nairametrics gathered that sack letters…

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Nigeria, Canada to ink new $2.3b power deal

The Federal Government and a Canadian firm, TREDIC Star Core are working on a $2.3b power deal which could improve Nigeria’s electricity generation by 1,652 megawatts (MW)….

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Twitter warns political figures to abstain from fake, misleading statements

Social media platform, Twitter has cautioned political figures against spreading false and misleading statements.  The Details: Twitter directed the warning specifically to world leaders, stressing that they are not above its rules. It warned that it could…

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