Arik Air Blames Fuel Scarcity As Reason To Their Incessant Flight Delays And Cancellations

Arik Air had on Friday, alerted passengers of the shortage of aviation fuel supply which is worsening and is the major factor that is causing flight delays and some cancellations at airports across the country. The airline made the announcement in a statement signed by its Communications Manager, Ola Adebanji. Excerpts from the statement reads […]

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Emefiele Elected Chairman Of International Islamic Liquidity Management Corporation

The International Islamic Liquidity Management Corporation (IILM) has elected governor of Central Bank of Nigeria (CBN), Godwin Emefiele as its Chairman. A statement by CBN’s Acting Director, Corporate Communications, Isaac Okorafor said that that this was disclosed on Thursday, December 15, 2016 in Jakarta, Indonesia. The statement added that by this development, Emefiele is also […]

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Femi Otedola, No Longer A Billionaire- Forbes

This is how Forbes is reporting this news: Oil tycoon’s fortune plunges to $550 million from $1.8 billion Nigerian businessman Femi Otedola‘s net worth has plunged from $1.8 Billion to $550 Million following a massive drop in the stock price of Forte Oil, the Nigerian Stock Exchange-listed petroleum marketing company. As at the close of […]

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UK, Canada Reject Naira Debit Cards For Visa Payment

On Monday, United Kingdom and Canadian visa applicants and intending travellers wanting to book hotels online were stranded because Deposit Money Banks stopped their Naira debit cards from being used for Dollar and other foreign currency-denominated transactions. The DMBs had on Friday, stopped their naira debit cards from dispensing dollars to customers via Automated Teller […]

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Nigeria Begs China To Fund Housing

The Federal Government has sought China-Africa Development Fund (CADFund) to finance housing development in Nigeria. This is as a result of the dire need to bridge housing deficit in Nigeria. Head of Service of the Federation (HoS), Mrs. Winifred Oyo-Ita, made the plea when an eight-man delegation of CADFund paid her a courtesy visit in […]

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Naira Crashes At 440 Per Dollar!

The naira was sold at the parallel market for 440 per dollar on Sunday, as the lingering foreign exchange scarcity increased to a new level. The local currency, which closed at 436/dollar on Thursday, eased to 435 in the early hours of Friday. It closed at 439/dollar. The naira had closed at 428 to the […]

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