Tag Archives Economy

World: Want to Lose Money? Put it to Work in Nigeria. - Forbes
World: Want to Lose Money? Put it to Wor...

World: Want to Lose Money? Put it to Work in Nigeria. – Forbes

In five years, the Nigeria ETF has blown up, now down over 74.5%. Equity investment between 2013 and 2018 has fallen from around $2.9 billion in 2013 to just $139 million in 2018. Nigeria has become Africa’s money-losing machine. Want to lose money in one of Africa’s biggest markets? Put... read more »

Nigeria: Oil Exploration in the North to Continue Till Oil is Found - GMD NNPC
Nigeria: Oil Exploration in the North to...

Nigeria: Oil Exploration in the North to Continue Till Oil is Found –...

Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said oil exploration in northern Nigeria will continue till it is found. He said this will enable the NNPC to do a massive appraisal of the discovery of gas reserves made in 1999 in the region. Dr.... read more »

Nigeria: Okorie Drags Zenith Bank to CBN Over ‘Disappearance’ of $64.1 Million
Nigeria: Okorie Drags Zenith Bank to CBN...

Nigeria: Okorie Drags Zenith Bank to CBN Over ‘Disappearance’ of $64.1 Mill...

An alleged disappearance of over $64 million from the vaults of the Zenith Bank has landed the multinational financial services provider in trouble. Zenith bank is rated as a large financial service provider in Nigeria and Anglophone West Africa. As at the ending of 2016, her total assets was N4.7... read more »

Nigeria: Google Issues a Statement on Inaccurate Currency Converter Issue with the Naira
Nigeria: Google Issues a Statement on In...

Nigeria: Google Issues a Statement on Inaccurate Currency Converter Issue w...

Following the curious 50% drop recorded in Nigeria’s exchange rate on Google’s currency converter yesterday, Google has issued a statement. In a tweet, the IT giant twitted that they were aware of the situation and will remove the converter box until the issue is resolved. The rate... read more »

Breaking News: Naira Returns to 361 to a Dollar
Breaking News: Naira Returns to 361 to a...

Breaking News: Naira Returns to 361 to a Dollar

Google currency converter shows naira to dollar has now returned to 361 to a dollar. A few hours ago, Nigerians were shocked to see on Google currency converter that the exchange had dropped to 184 to a dollar and 240 to a pound. See Also: Breaking News: Dollar Exchanges $1 to N184 Though the... read more »

Breaking News: Dollar Exchanges $1 to N184

In a shocking development, the exchange rate today dropped by half across board. Dollar to the Naira dropped from N360 to N184 while the Pound dropped from over N400 to N240. There is no... read more »

Nigeria: Stop Harrassing the CJN or We Will Mobilize and Shake the Country - Niger Delta Agitators

Nigeria: Stop Harrassing the CJN or We Will Mobilize and Shake the Country – Niger D...

A coalition known as the Niger Delta Agitators has issued a warning to the Federal Government regarding what they term the harassment of the Chief Justice of the federation. According to... read more »

Nigeria: Wike Snubs Media, Presents N.5 Trillion Budget

Nigeria: Wike Snubs Media, Presents N.5 Trillion Budget

Governor Nyesom Wike of Rivers State on Christmas eve presented the 2019 Appropriation Bill of around half a trillion naira to the state House of Assembly for necessary legislative action... read more »

Nigeria: Angry Youths Disrupt Oil Production As Akwa Ibom Crisis Takes Toll On American Oil Major

Nigeria: Angry Youths Disrupt Oil Production As Akwa Ibom Crisis Takes Toll On American Oi...

The unfolding political crisis in Akwa Ibom State, one of the big oil states in Southern Nigeria that has been relatively very peaceful till the advent of a seeming czarist regime in 2007,... read more »

Nigeria: As Buhari Engages Big Oil Firms On PIGB, Concerns Are Growing In Niger Delta

Nigeria: As Buhari Engages Big Oil Firms On PIGB, Concerns Are Gr...

Ahead of the 2019 general elections coming up in a matter of weeks, there are disturbing concerns in the Niger Delta, Nigeria’s main oil and gas basin, as the restive circles are considering to... read more »