Indications have emerged that the Nigerian economy is on its way out of recession considering the 2016 overall and last quarter Gross Domestic Product (GNP) reports.
Category: Economy and Finance
Arik Air gets better – AMCON
The Asset Management Corporation of Nigeria (AMCON) says public confidence is gradually returning to Nigeria’s largest domestic carrier, Arik Air, barely two weeks after it took over the airline.
Ponzi scheme Yuan Dong shut down
Securities and Exchange Commission (SEC) says it has sealed up the premises of Yuan Dong (YDEC) for unacceptable investment operations in the country.
CBN to fund BTA, PTA, Medical, school fees
Nigeria’s Central Bank on Monday rolled out new forex measures to curb the galloping exchange rate of the naira as it vowed to fund the items causing demand pressure at the parallel market.
Goodie Ibru quits Ikeja Hotels
Mr. Goodie Ibru has resigned as chairman of Ikeja Hotels Plc.
US shale oil producers drag down oil prices
Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance.
Kraft Heinz abandons bid for Unilever
U.S. food company Kraft Heinz Co withdrew its proposal for a $143-billion merger with larger rival Unilever Plc, the companies said raising questions about whether Kraft will turn its focus to another target.
Nigeria’s debt stands at N17.36 trillion
The Director-General of the Debt Management Office (DMO), Dr Abraham Nwankwo said Nigeria’s total debt as at December 31, 2016 was 57.39 billion dollars (N17.36 trillion).
EFCC arrests Andrew Yakubu
After the discovery of $9,772,800 and £74,000 in a safe house in the slums of Sabon Tasha area of Kaduna, the EFCC has arrested Andrew Yakubu.
Karu International Market to be inaugurated soon
The Karu International Market in Nasarawa State will soon be inaugurated to boost economic activities and create jobs, Mr Haruna Iliya, the Commissioner of Commerce and Industry, has announced.