The Minister of Solid Minerals Development, Mr Dele Alake, on Tuesday urged foreign investors to take advantage of low cost of production in Nigeria’s mining sector and invest in it for huge returns. Alake, in a speech delivered at the Mines and Money Conference held in London, said the President Bola Tinubu-led administration was currently […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
The Central Bank of Nigeria (CBN) on Wednesday directed banks to continue to issue and accept old and new Naira banknotes nationwide. The apex bank, in a statement issued by the Acting Director, Corporate Communications, Mrs. Sidi Ali Hakama, clarified: “Following the order of the Supreme Court on Wednesday, November 29, granting the prayer of […]
The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday hinted of its plans to increase maximum deposit insurance coverage payment to depositors of liquidated Deposit Money Banks (DMBs), Primary Mortgage Institutions (PMIs), and Microfinance Banks (MFBs) in furtherance of its financial system stability roles. Similarly, the corporation disclosed that it had introduced the Single Customer View […]
The Nigerian Ports Authority (NPA) has outlined plans to invest about $1.1 billion (about N800 billion) in the various ports across the country in furtherance of its current efforts to reduce the high turnaround times of vessels and improve ports efficiency. The Managing Director of the Authority, Mohammed Bello-Koko, in an X post on Monday, […]
The Nigerian Civil Aviation Authority (NCAA), on Monday announced the suspension of all wet-leased aircraft operated by United Nigeria Airlines (UNA) following Sunday’s diversion of airlines’ passengers to Asaba International Airport instead of at their intended destination, Nnamdi Azikiwe International Airport (NAIA), Abuja. In the aviation sector, in a wet lease, an airline (the lessor) […]
The Nigeria Customs Service (NCS) has commenced talks with the Federal Ministry of Finance with a view to initiating an executive bill for consideration by the National Assembly for the establishment of a proposed dedicated Pension Scheme for officers and men of the service. The Comptroller-General of the Service, Adewale Adeniyi, who gave this hint […]
Apparently worried by the rising air travels incidents across the nation’s airports in recent weeks, the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has summoned heads of aviation regulatory agencies to an emergency meeting to parley on the worrisome development in the industry. The minister’s invitation to the industry’s chiefs for the meeting […]
The African Reinsurance Corporation has announced its financial results for the first nine months of this year, which reflected a strong growth in Net Nrofit to $75.4 million and a “remarkable improvement” compared to the loss recorded at the end of the same period of 2022. A news report from Reinsurance News, an online medium […]
Investment researchers at Bancorp Securities Limited, a leading investment research firm in Nigeria, have predicted some modicum of positive outlook for Nigerian Exchange’s trading this week as macroeconomic indices continued to reflect positive sentiment in the nation’s economy. The investment experts, in the firm’s ‘Weekly Stock Recommendation For Nov 27 –Dec 01 2023’ report noted […]