Tuesday, August 20, 2019
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    World’s largest trade deal in 24 years, 1.2bn customers… five things to know about AfCFTA

World’s largest trade deal in 24 years, 1.2bn customers… five things to know about AfCFTA

President Muhammad Buhari has finally signed the African Continental Free Trade Area (AfCFTA) agreement. The president signed it at the 12th extraordinary session of the assembly of the union on AfCFTA and the first mid-year coordination meeting of the African Union (AU) and the regional economic communities (RECs) in Niamey, Niger Republic.Buhari had delayed signing the agreement, explaining that he needed [...]

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    ‘I prepared Sawyer’s body for cremation… Now I’m owed salaries for four years’

‘I prepared Sawyer’s body for cremation… Now I’m owed salaries for four years’

"I was at the headquarters of the Nigeria Centre for Disease Control (NCDC) Abuja when I was selected for the job because everyone else considered it too risky. If you recall, it was the first Ebola case in Nigeria and there was a huge sense of fear and panic about it. I, however, saw it as an opportunity to perform a [...]

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    VERBATIM: What Sanusi said on Buhari, poverty, subsidies and bankruptcy

VERBATIM: What Sanusi said on Buhari, poverty, subsidies and bankruptcy

Speaking at a workshop organised by the office of the accountant-general of the federation at government house, Kano, on Tuesday, Muhammadu Sanusi II, the emir of Kano, highlighted a wide range of economic issues affecting the country.He praised President Muhammadu Buhari for promising to tackle poverty during his second term in office, but listed a number of obstacles and policy [...]

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    EXCLUSIVE: BVN links Owerri hotel to GM of Petroleum Equalisation Fund

EXCLUSIVE: BVN links Owerri hotel to GM of Petroleum Equalisation Fund

Goddy Nnadi, the general manager (corporate services) at the Petroleum Equalisation Fund (Management) Board, is running a private business against civil service rules and regulations, TheCable can report.TheCable understands that Nnadi, who joined the PEF board as head of public affairs and deputy manager in 1998, is the owner of Greatwood Hotels Limited, a hotel based in Owerri, Imo state [...]

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    PROFILE: Meet Olufemi Lijadu, the new chairman of SEC board

PROFILE: Meet Olufemi Lijadu, the new chairman of SEC board

Four years after the dissolution of the board of the Securities and Exchange Commission (SEC), the capital market regulator will get a governing board.The SEC board will now be headed by Olufemi Lijadu, a lawyer.The investiture was conducted on Monday by Mahmoud Isa-Dutse, the permanent secretary of the federal ministry of finance in Abuja.Part-time members of the board are Okokon [...]

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    Abba, Abba, Abba and Mele – how well do you know your Kyaris?

Abba, Abba, Abba and Mele – how well do you know your Kyaris?

Who is Mele Kyari, the new group managing director of the Nigerian National Petroleum Corporation (NNPC)?The news making the rounds is that the NNPC boss is related to Abba Kyari (pictured), President Muhammadu Buhari’s chief of staff (CoS); some even say he is the CoS's younger brother.And the issue is hotter than you would imagine. In fact, a social media [...]

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    PROFILE: Mele Kyari — PIB advocate, PENGASSAN comrade — takes charge at NNPC

PROFILE: Mele Kyari — PIB advocate, PENGASSAN comrade — takes charge at NNPC

Mele Kyari was named group managing director of the Nigerian National Petroleum Corporation (NNPC) on Thursday by President Muhammadu Buhari.His appointment will take effect from July 8 when Maikanti Baru, the current GMD will retire.Kyari comes on board as the 19th GMD of the national oil company.Before his appointment as GMD, he was the group general manager, crude oil marketing [...]

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    THE INSIDER: Anxiety mounts as Buhari keeps ministerial list close to his chest

THE INSIDER: Anxiety mounts as Buhari keeps ministerial list close to his chest

Close to two weeks into President Muhammadu Buhari's second term, many of the ministers who were confident of being re-appointed are no longer sure about their fate as the waiting game continues.Technically, Buhari could not have released his ministerial list before the inauguration of the national assembly, which is due for Tuesday, June 11.He is expected to send the list [...]

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    FACT CHECK: Did Obasanjo visit Sanusi as this picture ‘suggests’?

FACT CHECK: Did Obasanjo visit Sanusi as this picture ‘suggests’?

You must have seen the picture on social media -- former president Olusegun Obasanjo packing his brown agbada with his left hand and walking ahead of Muhammad Sanusi II, the emir of Kano, who is dressed in his full regalia.The picture started trending a few days after the decimation of Kano emirate by Abdullahi Ganduje, the governor of Kano state, [...]

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    As $9bn award hangs over Nigeria, investors ‘worried’ over country’s growing debt

As $9bn award hangs over Nigeria, investors ‘worried’ over country’s growing debt

Nigeria's ability to repay its external debts has come under scrutiny amidst further threat following the $9 billion arbitration award against the country by a London tribunal.The country's external debt burden rose from $10.3 billion in June 2015 to $22.1 billion by June 2018.The 115 percent increase means the debts are now approaching pre-2005 levels when the Paris and London [...]

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Exchange Rates

August 20, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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