Two Nigerian Banks are close to being insolvent, while two others “will need a dilutive capital hike,” Jaap Meijer and Tarek Sleiman, analysts at Arqaam Capital, Dubai-based investment bank and brokerage told Bloomberg yesterday.
According to the analysts in an e-mailed note, Capital ratios are set to worsen in the country’s banking system because of currency depreciation and souring loans. Calls to one of the banks were not immediately returned and the other did not reply to questions.
The Central Bank of […]
Nigeria may close its borders with Benin Republic to stem smuggling of rice and other consumables as well as the illegal importation of weapons into the country.
Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who expressed government’s displeasure over the porosity of the Seme border, said, it has rubbished efforts of the present administration in diversifying the economy, especially, through agriculture. He warned that government may be forced to take very drastic measures.
Speaking in Abuja when the Senate Committee […]
For the first time in more than a year, All Progressives Congress (APC) senators and their Peoples Democratic Party(PDP) counterparts closed ranks to push back a receding economy.
Separate meetings held by APC and PDP, agreed that members should forget their differences and discuss issues affecting Nigeria, the federal legislature and the fortune of their party.
The meeting which was held at private residence of the president of the Senate, Dr. Abubakar Bukola Saraki, started at about 8pm last night, lasted for […]
Ex-militants of the Niger Delta region yesterday reaffirmed their threat to close down Central Bank of Nigeria (CBN) branches in the Niger-Delta region on the expiration of the seven-day ultimatum they issued to the apex bank to pay up three months arrears allegedly owed them. They warned that the ultimatum expires Monday next week.
The ex-militant leaders under phase 2 of the amnesty programme while reacting to a recent publication in one of the dailies credited to Brig-Gen Paul Boroh said […]
Donald Trump will have an address on Pennsylvania Avenue whether or not he wins November’s election, after his new super-luxury hotel opened on Monday, steps from the White House. Not everyone was applauding his name in large gold-colored letters adorning the 263-room, $212 million Trump International Hotel glinting in the bright morning sun.
A crowd of protesters gathered to direct invectives toward the Republican presidential candidate’s redevelopment of the capital’s century-old landmark Old Post Office building into one of the city’s […]
Yobe State Government on Thursday officially closed down the Bukar Ali Internally Displaced Persons (IDPs) camp in Damaturu, which was established on June 27, 2015.
Bukar Ali camp comprised Gambir, Malumti and Mattiri villages of Damaturu local government area of the state. The camp has a population of 391 persons, comprising 92 households.
The Executive Secretary of Yobe State Emergency Management Agency, Musa Idi Jidawa, said the state government spent N35 million for the establishment, feeding and general welfare of people in the […]