Business & Economy

Aero Contractors Airlines said it would suspend its scheduled services from today. In a statement, the carrier said the development was part of its strategic business realignment to reposition the…

The Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof Umar GarbaDanbatta, has agreed to release the commission’s data from the ongoing Subscriber Identity Module (SIM) cards registration exercise to the…

The naira on Wednesday appreciated against the dollar at the interbank, the News Agency of Nigeria (NAN) reports. The local currency closed at N316.24 to the dollar at the segment…

The Central Bank of Nigeria (CBN) has re-instated all the banks that were banned from the foreign exchange market, the Director, Banking Supervision, Mrs Tokunbo Martins, has said. She said…

Nigeria, Africa’s biggest economy, officially slid into recession for the first time in more than 20 years as the Nigerian Bureau of Statistics (NBS) on Wednesday announced a further contraction…

Cyprus and Egypt signed an agreement Wednesday that paves the way for the supply of gas to the Arab nation via an undersea pipeline that officials hope will create a…

The Transmission Company of Nigeria (TCN) yesterday sent out 3,061megawatts (Mw) of electricity generated by the electricity generation companies to the 11 distribution companies (DisCos). The Nigerian Electricity System Operator…

The price of cement yesterday rose to between N1,200 and N1,300 in Lagos and other parts of the country. Before the hike, a bag of cement costs about N1, 600…

The  Economic and Commercial Counsellor at the Embassy of Spain in Nigeria, Mr Pablo Segrelles, yesterday said his country imported products valued at N1.38trillion(4 billion Euros) from Nigeria last yaer.…

The Central Bank of Nigeria (CBN) yesterday licensed 11 new International Money Transfer Operators (IMTOs). The new entrants are joining Western Union, MoneyGram and Ria, which had been cleared by…