Business

The Central Bank of Nigeria has approved an increase in the maximum amount that would be sold to each licensed Bureau De Change operator from $30,000 to $50,000 per week. The decision was taken at the Bankers’ Committee meeting which was held at the headquarters of the CBN on Tuesday …

Justice Abdulazeez Anka of a Federal High Court in Lagos on Tuesday ordered the prison remand of a former Manager of the Oyingbo, Ebute Meta branch of Diamond Bank Plc, Chinedu Oguike, over an alleged fraud of N24m. The judge ordered Oguike’s prison remand shortly after he was arraigned on …

An official news agency says China has unveiled the world’s largest amphibious aircraft that Beijing plans to use for marine missions and fighting forest fires. The Xinhua News Agency said the AG600 rolled off a production line in Zhuhai in southern China on Saturday. It measures 37 meters (121 feet) …

Yahoo agreed to sell its core assets to telecom giant Verizon for $4.8 billion, ending a 20-year run by the internet pioneer as an independent company, the firms announced Monday. Verizon chief executive Lowell McAdam said Yahoo would be integrated into its recently acquired AOL unit to create “a top …

The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has expressed concern on the increasing wave of non-performing insider loans in banks. A statement issued by the NDIC said  Ibrahim expressed the concern while receiving a delegation from the Chartered Institute of Bankers of Nigeria (CIBN) led …

The Nigerian Navy said it had arrested a suspected member of the Niger Delta Avengers. This is contained in a statement signed by its Director of Information, Commodore Christian Ezekobe, and made available to newsmen in Abuja. According to Ezekobe, the suspect who was picked up on July 11 at …

The long-awaited African Union (AU) passport was on Sunday launched at the opening ceremony of the 27th Ordinary Session of the Assembly of the AU Summit in Kigali, Rwanda. The Assembly is made up of heads of states and governments of the 54 member states of the AU. The AU …

The Nigeria National Petroleum Corporation (NNPC) says plans are underway to set up an energy renewable plant that will use agro products to generate energy. Its Group General Manager in charge of Renewable Energy Division, Mr Rabiu Suleiman, stated this on Tuesday in Makurdi during a courtesy call on Gov. …

Militants bombed a state-run oil pipeline in southern Nigeria Monday causing massive spills, in the latest attack on the country’s oil infrastructure, said an industry official. “The pipeline is operated by the Pipelines and Products Marketing Company (PPMC) at Batan near Warri. It was blown up early yesterday (Monday),” a …

The Police Command in Nasarawa State has deployed over 1,000 personnel to guard government facilities in the state, the Commissioner of Police, Mr Lawal Shehu, has said. Shehu made the information known in Lafia on Monday when he addressed newsmen.   He said the deployment to the 13 local government …