BUSINESS

CBN and NCC explain why they intervened in Etisalat debt crisis

Financial sector regulator, Central Bank of Nigeria, CBN on Friday said its intervention in the ongoing debt crisis between Etisalat Nigeria and a consortium of banks was to save the Nigerian financial system. CBN spokesperson, Isaac Okoroafor, said the two ...

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We are not under investigation, we’ve paid 42% of our debt

Etisalat Nigeria says it had paid about 42 percent of its original loan, taken from a consortium of banks, is not being investigated by the Economic and Financial Crimes Commission (EFCC) as a result of any petition. In a statement ...

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NCC assures Etisalat subscribers of network’s integrity

Amid the move to takeover of Etisalat by a consortium of banks, the Nigerian Communications Commission (NCC) has assured subscribers that the network’s integrity would not compromised. The Director, Public Affairs of NCC, Mr Tony Ojobo, said in a statement ...

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UBA emerges Financial Brand of the Decade

Pan African banking and financial services group, United Bank for Africa (UBA) Plc has added yet another laurel to its cap as it emerged the Financial Brand of the Decade at the Marketing Edge Awards which was held over the ...

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After takeover by banks, Etisalat writes to reassure staff

Etisalat Nigeria sought to reassure its apparently distraught workers Tuesday after talks with its lenders broke down, leading to the telecoms company being taken over by banks. In a message to all staff of the company, the Chief Executive of ...

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CBN injects $195million into forex market, mulls new retail options

The Central Bank of Nigeria is contemplating introducing a new FOREX retail option in  Nigeria, just as it  released another $195million into the market today. The bank last week released   $800 million , making a total of $995million injection, in ...

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2017 budget: FG set to release N350 billion for capital projects – Adeosun

The Minister of Finance, Kemi Adeosun said that the federal government was ready to release N350 billion, being the first tranche for implementation of the 2017 budget. Mrs. Adeosun said this on Monday in Abuja at the public presentation of ...

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Lagos to resume sale of Lake Rice today

The Lagos State Government has said it would begin selling LAKE Rice at approved retail outlets across the state from Monday, June 19, ahead of the Eid-el-fitr. Oluwatoyin Suarau, the state’s Commissioner for Agriculture, said this on Sunday. “The selling ...

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NNPC Crashes Diesel Price Nationwide by 42%

Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC). It would be recalled that ...

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CBN predicts tremendous improvement in economy

Nigeria’s troubled economy will record tremendous improvement by the third quarter of the year, the Central Bank of Nigeria (CBN), has predicted. The Director of Banking Supervision of CBN, Mr Ahmed Abdullahi,  told newsmen that the prediction was  the outcome ...

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