The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this year, according to the National Bureau of Statistics. The N5.85tn represents 29.44 per cent of the N19.87tn loans advanced to the private sector as of the end of September. Oil and gas firms, which received...
Category: Business
FG comes under fire as 164 million phones risk disconnection
• Process will inconvenient subscribers, say operators Over 164 million phone lines may be disconnected by December 31, if their owners fail to integrate their National Identity Numbers to Subscriber Identification Modules registration records. One of our correspondents gathered from the National Identity Management Commission on Wednesday that the number of Nigerians with NINs was...
Reopening of four borders: LCCI, experts raise smuggling alert as FG retains rice ban
• Other land borders to be reopened on or before December 31, says minister • Government failed, closure didn’t stop smuggling – Abuja chamber of commerce • Inconsistent government policies jeopardising investments, says DG, NACC The President, Major General Muhammadu Buhari (retd.), has approved the immediate reopening of four of Nigeria’s land borders. The Minister...
SIM registration: Extend deadline for NIN update to 10 weeks, Reps tell FG
The House of Representatives has asked the Federal Government to extend the deadline for the provision of National Identification Number by telecommunication service subscribers to 10 weeks. The House, at the plenary on Wednesday, described the two weeks given to SIM card users by the Nigerian Communications Commission to provide their NIN to service providers...
China approves loan for $2.6bn AKK gas pipeline
China has approved and will disburse its 85 per cent loan required to fund the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project, the Federal Government announced on Tuesday. Minister of Finance, Budget and National Planning, Zainab Ahmed, and Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, announced this during the inspection of the project in Ajaokuta,...
FG orders telcos to block SIMs without NINs December 30
After December 30, all Subscriber Identification Modules that are not registered with valid National Identification Numbers on the network of telecommunications companies shall be blocked, the Federal Government has said. It was gathered in Abuja on Tuesday that the declaration was part of resolutions reached during an urgent meeting of key stakeholders in the communications...
External reserves dip by $269.47m in five weeks
The country’s foreign reserves fell by $269.47m in five weeks, the latest figures obtained from the Central Bank of Nigeria revealed on Monday. The reserves, which stood at $35.656bn as of November 4, fell to $34.925bn on December 12. According to the figures, the reserves, which had continued to fluctuate, ended the month of October...
Banks’ non-performing loans now N1.17tn – NBS
Non-performing loans in the Nigerian banking sector fell by N42.4bn in three months, latest figures from the National Bureau of Statistics have shown. According to figures obtained from the NBS’ latest Selected Banking Sector Data Report on Sunday, the total amount of non-performing loans in Nigerian banks fell from N1.21tn at the end of the...
Airlines face new threat as COVID-19 second wave spreads
With the rising cases of COVID-19 in Nigeria and other countries, Nigerian airlines are likely to be hard hit again by the impact of the looming second wave on air travel. Aviation experts have expressed worry that Nigeria could soon be hit by the second wave of the COVID-19 pandemic following rising daily cases and...
I’m happy doing what I love– Adekoya
Funmilayo Adekoya is the Creative Director of Nifestouch, a make-up artistry brand. She tells TOLUWALOPE KAREEM about her business How did you find yourself in the business of make-up? My interest in make-up came to me as a surprise. I was not a make-up lover until I moved to the hostel while in school. Watching other...