The Nigeria Extractive Industries Transparency Initiative, NEITI, said the country lost $198.7 million in 2014 to the crude oil-for-product swap and the Offshore Processing Arrangements, OPA NEITI disclosed this in…
Read More FG loses $198.7m to oil swap,OPA – NEITICategory: Economy
Airlines can’t pay for aviation fuel -NNPC
Ebun Francis The Managing Director of Nigerian National Petroleum Corporation, Dr Maikanti Baru on Thursday explained the difficulties being experienced in the aviation sector was not as a result of…
Read More Airlines can’t pay for aviation fuel -NNPCNaira among four worst global currencies in 2016
Agency report The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. The naira was said to have lost 36.68…
Read More Naira among four worst global currencies in 2016CBN sells $1bn to clear backlog of forex demand
Ebun Francis with agency reports The Central Bank of Nigeria sold about $1bn on the forward market to clear a backlog of dollar obligations in selected sectors, according to foreign…
Read More CBN sells $1bn to clear backlog of forex demandPastor Ashimolowo loses $5m to Ponzi scheme
Kingsway International Christian Centre, a 12,000-member megachurch in Britain headed by Nigeria’s Pastor Mathew Ashimolowo, lost $4.8 million to a Ponzi scheme after trustees carelessly invested money in it. The…
Read More Pastor Ashimolowo loses $5m to Ponzi scheme
