The Lekki Deep Sea Port, inaugurated by President Muhammadu Buhari on Monday, will contribute over $8 billion to the Nigerian economy annually. The inauguration is part of the president’s activities during his two-day official tour of Lagos State. The president, at the end of the state visit, will depart for Dakar, Senegal today (Tuesday). […]
Eighteen ships, carrying petroleum products are waiting to berth in Lagos ports are carrying petroleum products. The Nigeria Port Authority (NPA) announced this in its daily publication, “Shipping Position” for Thursday. It is hoped that lingering petrol scarcity across the country may soon abate as the ships discharge the products. NPA said some of the […]
The Murtala Muhammed Airport Command of the Nigeria Customs Service says it intercepted hard drugs and military/police hardware at the cargo section of the airport worth N13.8 billion. Sambo Dangaladima, the Customs Area Controller, announced this while interacting with journalists at the command in Ikeja, Lagos, on Tuesday. Dangaladima said his men intercepted 162 cartons […]
Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, says the apex bank has waived some of the conditions for accessing the new banknotes by commercial banks. He announced this at a sensitisation tour on the redesigned naira notes to the Computer Village, Ikeja in Lagos. Emefiele was represented by the CBN Director of Legal […]
Oil prices settled higher on Tuesday in choppy trading after China posted weak but expectation-beating annual economic growth data. The prices also settled on hopes that a recent shift in its COVID-19 policy will boost fuel demand. Brent crude futures settled up $1.46, or 1.7 per cent to $85.92 while U.S. West Texas Intermediate (WTI) […]
Vice President Yemi Osinbajo says investment in technology is the way of the future as it holds prospects for national development. Osinbajo made the remarks when he received delegation of Odu’a Investment Company at the Presidential Villa, on Tuesday in Abuja. The Group Chairman of the conglomerate, Bimbo Ashiru, led the delegation. The vice president […]
The World Bank (WB) has cut the global growth forecast for 2023 by 1.2 per cent from 2.9 per cent, warning the world is at risk of a recession. The global financial institution cited a combination of factors for lowering its estimate. The factors are high inflation, rising interest rates and lower investment Other factors […]
The Financial Conduct Authority (FCA), a British financial watchdog, has fined a subsidiary of Nigeria’s Guaranty Trust Bank £7.6 million ($9.3 million) over allegations of money laundering. The FCA announced the fine in a statement, reported by Reuters on Tuesday. It stated that it imposed the fine due to failures in GTBank’s anti-money laundering systems […]
The Federal Government has earmarked N3.25 billion for the first phase of three industrial parks being planned across the country. Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Haruna, announced this when he visited the Commandant of the Nigerian Air Force Institute of Technology (NAFIT) in Kaduna on […]
By Our Correspondent Managing Director of Nigerian Security Printing and Minting PLC (NSPM), Ahmed Halilu, has allayed the fears of some Nigerians on the quality of the new naira notes. Aliyu gave the assurance in a statement, on Friday, but made it available to The NewsZenith on Saturday. The assurance is in response to concerns […]