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Prices of garri crash in Enugu markets

Prices of garri crash in Enugu markets

Prices of garri, a stable food on Nigerians table, continued to crash in some Enugu markets. A market survey in some major markets in Enugu metropolis on Saturday revealed that the prices of the white and red garri nosedived by about 36 per cent. Some sellers said that the fall in price was due toRead More …

NSE suspends trading on Skye Bank shares

NSE suspends trading on Skye Bank shares

The Nigerian Stock Exchange (NSE) on Friday officially notified the investing public that Skye Bank Plc shares would be suspended from trading on Sept. 24. The exchange gave the notice in Lagos in a statement by Mr Olumide Orojimi, Head, Corporate Communications and Mr Godstime Iwenekhai Head, Listings Regulations. NSE said in the statement thatRead More …

CBN withdraws Skye Bank’s license

CBN withdraws Skye Bank’s license

The Central Bank of Nigeria (CBN) has withdrawn the operating license of Skye Bank. CBN Governor, Godwin Emefile who announced the decision on Friday evening in Lagos said depositors funds remain safe. Polaris Bank has been established to assume ownership of the assets and liabilities of Skye Bank. The Nigeria Deposit Insurance Corporation has injectedRead More …

Nigeria’s foreign debt stands at $22.08bn

Nigeria’s foreign debt stands at $22.08bn

Nigeria’s foreign debt currently stands at $22.08 billion according to the National Bureau of Statistics (NBS). The bureau puts domestic debt at N3.48 billion. The NBS in the Nigerian Domestic and Foreign Debt Q2 2018 report released in Abuja shows that $10.88billion of the debt is multilateral and $274.98 million is bilateral. Multilateral debts are debts owed by developing countriesRead More …

Emirates upgrades aircraft on Abuja route

Emirates upgrades aircraft on Abuja route

Emirates Airlines has upgraded its operating aircraft on the Abuja route to a Boeing 777-300ER from the 777-300 classic. The upgrade took effect at the weekend. The airline according to its Regional Manager West Africa, Afzal Parambil took the step as part of its commitment to the Nigerian market. He said “The upgrade of ourRead More …

Breadmakers canvass downward review of 15% levy on wheat

Breadmakers canvass downward review of 15% levy on wheat

Premium Breadmakers Association of Nigeria (PBAN) has called on the Federal Government to review downwards the 15 percent levy on wheat grain imports to help drive down the price of flour which constitute about 75 percent of baking ingredient. The body said the 15 per cent  reduction in the levy on wheat grain will leadRead More …

Domestic carriers commend FG over suspension of national airline

Domestic carriers commend FG over suspension of national airline

….Investing over $3 billion on unprofitable venture , not in national interest Umbrella body of domestic carriers,  Airline Operators of Nigeria (AON), has commended the Federal Government for taking bold steps to suspend indefinitely the controversial carrier – Nigeria Air. The airline body said judging by the tough economic times in the country today, itRead More …

Revenue automation: NCAA gives ultimatum to 30 foreign carriers

Revenue automation: NCAA gives ultimatum to 30 foreign carriers

The Nigerian Civil Aviation Authority (NCAA)  on Thursday gave  December 31, 2018 as deadline   to foreign carriers which are yet to  Automate/Integrate on the Avitech platform for the remittance of five percent Ticket Sales Charge/Cargo Sales Charge[TSC/CSC] to do so or face severe sanctions. The ultimatum by NCAA came on the heels of regular meetings;Read More …

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