Your social gateway to Nigeria - Connect with Nigerians, Be it in Arts, Music, Business, Technology, Sports, News, Politics, Commerce, Nollywood & Fashion, feel the pulse on Naija A-Z Directory

Experts have stated that high oil price, which is expected to shore up the nation’s foreign reserves, may also have harsh effects on consumers’ pockets and companies books. The high oil prices, which experts foresee would last through March and April and moderate sometime midyear at the expense of consumers’ disposable income, would soon begin to have some indirect rippling…

Egypt’s government is reviewing a proposal to increase the size of a fund set up to help small investors who bought shares on margin or credit before political turmoil led to the bourse closing, a market official said. The stock exchange has been shut since January 27 amid a popular uprising that forced President Hosni Mubarak out of power after…

The Senate will this morning commence the third reading of the Petroleum Industry Bill (PIB) after it deferred deliberations last week. The postponement last week was due to the failure of senators to form a quorum, apparently as a result of the ongoing political campaigns. Last Tuesday, only 23 of 109 senators, 10 short of the required minimum to form…

The Central Bank of Nigeria (CBN) has warned Bureau de Change (BDCs) operators against failure to make timely report on its operations to the regulator. Director of Trade and Exchange of the CBN, Batari Musa, in his message in the 2011 annual general meeting of the Association of Bureau de Change Operators of Nigeria (ABCON) held in Lagos emphasised the…

Cyril Agbele, Accountant General of Delta State has advised that the three tiers of government should be fully involved in the utilisation of the proposed Sovereign Wealth Fund (SWF). When established by law, the SWF would over-ride the Excess Crude Account into which the Federal Government currently deposits excess crude oil revenue and shares with other tiers of government as…

Nigeria and Canada are set to improve their trade and investment relations, Foreign Affairs Minister Odein Ajumogobia, has said. Mr. Ajumogobia spoke to the News Agency of Nigeria (NAN) at the weekend in Washington D.C. after a one-day visit to Canada on Wednesday.He described trade relations between both countries as ‘‘not significant'', compared with a ``very good'' political and diplomatic…

Ethiopia's currency devaluation boosted exports in the past six months and helped narrow the burgeoning trade gap, Prime Minister Meles Zenawi said. The Ethiopian birr was devalued by 16.7 percent in September last year to bolster competitiveness, the fourth such move since 2009. Ethiopia's export revenue reached $1.11 billion during the first half of this year, while first-quarter revenue rose…

Egypt will reopen its stock exchange before March 28 so the bourse is not removed from global indices, the finance minister was quoted as saying on the prime minister's Facebook page on Saturday. Samir Radwan said one of the reasons for the continued closure of the stock exchange was that the situation in Egypt had not "not reached the improvement…

The U.N. Security Council may consider a proposal to set up an escrow account for Cote d' Ivoirecocoa revenues to keep them out of incumbent leader Laurent Gbagbo's hands, U.N. diplomats told Reuters. Amid fears of a new civil war in Ivory Coast, Gbagbo rejected an African Union proposal at a summit on Thursday offering him a safe exit in…