Business

Minister justifies his employee’s appointment in World Bank project

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, has absolved himself of any form of misconduct in the handling of the World Bank sponsored, Growth and Employment, GEM, Programme.

Enelamah was reacting to a petition by a federal lawmaker, Hon. Mark Gbillah, accusing him of di [...]

Fri, 14 September 2018


Investors may manage Abuja light rail - FCTA

The Federal Capital Territory Administration had revealed that a lot of investors are lto manage the Abuja light rail system which has just been completed.

Secretary in charge of transportation, Comrade Kayode Opeifa, disclosed this while briefing journalists in Beijing, China on the sidelines [...]

Sun, 09 September 2018


Forex: CBN injects $303m, CNY 46.58m into retail SMIS

The Central Bank of Nigeria (CBN), on Friday, injected the sum $303.91 million into the interbank retail Secondary Market Intervention Sales.

The bank, in a statement by its director, corporate communications, Isaac Okorafor, also announced the sale of CNY 46.58 million in the spot and short-te [...]

Sun, 09 September 2018


NIRSAL unveils improved insurance cover for farmers

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, has developed a new insurance product aimed at safeguarding farmers against risks along the agricultural value chain.

The new product, the agency says is an improvement on its pioneering Area Yield Index Insurance [...]

Mon, 20 August 2018


CBN injects fresh $210m in forex market

The Central Bank of Nigeria, CBN, has injected 210 million dollars into the inter-bank Foreign Exchange Market to meet customers’ requests in various segments of the market.

The CBN Acting Director of Corporate Communications, Mr Isaac Okoroafor in a statemen, said that $100 million was o [...]

Sun, 12 August 2018


Pension assets hits N8.23trn

Nigeria’s pension asset has risen to N8.23trillion as contributors to the Contributory Pension Scheme grew by 312,291 at the end of the second quarter of 2018.

Figures from the National Pension Commission, PenCom, suggest that that the number of contributors into the scheme rose from 7.89 [...]

Sun, 12 August 2018


NIRSAL facilitates $375m agric loan from banks

Management of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, said the agency has facilitated a total of $375million from commercial banks for the agricultural sector since it was incorporated in 2013.

The Managing Director, NIRSAL, Aliyu Abdulhameed, gave the [...]

Sun, 12 August 2018


NSIA grows NBET’s investment fund by $67.4m in 4years

The Nigeria Sovereign Investment Authority, NSIA, said it has paid a total sum of $417.46 million to the Nigeria Bulk Energy Trading Company from an initial capital of $350million, following the expiry of the four years investment term.

A statement from the agency explained that the returned fu [...]

Sun, 12 August 2018


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