Nigeria is set to receive a $1.05bn syndicated loan backed by oil from the African Import Export Bank next month. The loan is part of a larger $3.3bn prepayment facility arranged by Afreximbank, with repayment terms tied to crude cargoes from the Nigerian National Petroleum Company Ltd.. According to Bloomberg, …

The Lagos State Special Offences Court in Ikeja, on Monday, sent back the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, to the custody of the Economic and Financial Crimes Commission. Justice Rahman Oshodi made the remand order shortly after the anti-graft agency arraigned Emefiele on 23 counts …

The Economic and Financial Crimes Commission (EFCC) has so far recovered N30billion for the Federal Government while it has also placed 50 bank accounts under investigation in the ongoing probe of the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, including the erstwhile chief executive officer of the now …

The Sultan of Sokoto, Sa’ad Abubakar, has officially declared Wednesday, April 10, as Eid-el-Fitri day, which means Muslims will continue their fast today.. This was contained in a press release signed by Professor Sambo Junaidu, the Chairman of the Advisory Committee on Religious Affairs to the Sultanate Council.The statement confirmed …

Ousted Deputy Governor of Edo State, Comrade Philip Shaibu, has lambasted members of the Edo State House of Assembly, who impeached him on Monday. Shaibu who has been at loggerheads with his principal, Governor Godwin Obaseki, was eventually booted out of office by the lawmakers. The incident followed the adoption …

Edo State Chief Judge, Justice Daniel Okungbowa has sworn in Omobayo Godwin, 38, as the new deputy governor of the state. Omobayo was appointed by Governor Godwin Obaseki immediately after the impeachment of Philip Shaibu on Monday. Recall the Edo State House of Assembly, on Monday, impeached the embattled deputy governor, Comrade Philip Shaibu. The impeachment followed …

The Edo State House of Assembly, on Monday, impeached the embattled state deputy governor, Philip Shaibu. The impeachment followed the adoption of the report of the seven-man investigative panel set up by the state Chief Judge to probe allegations of misconduct against Shaibu.The panel was headed by Justice S.A. Omonua …

The Central Bank of Nigeria (CBN) has announced it will once again sell dollars to bureau de change operators. This was disclosed in a circular seen on its website.The CBN said it is set to sell $10,000 to each BDCs at N1101/$ and directed the operators to sell at a …

The Central Bank of Nigeria has written to all banks in the country Nigeria to stop the use of foreign currencies as collateral for naira loans. It disclosed this in a circular uploaded to its website on Monday. The apex bank said it had observed the use of FCY by …

Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday. The development came a few months after the Federal Government renewed the mega power project contract with the German government and …