Nigeria and ExxonMobil sign 20 years Renewal License

U.S. energy giant Exxon Mobil signed 20-year oil licence renewals on Nigerian assets producing around 550,000 barrels per day on Wednesday, the company's country manager said, ending months of negotiations.

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Banking System in Nigeria; CAN proposes Christian Banking

Pastor Ayo Oritsejafor, The president of Christian Association of Nigeria, CAN, made some remarks yesterday in Benin City, Edo State, indicating that Christians in Nigeria are considering having their own

Google acquired Motorola

Google has acquired Motorola not only because of its strength in Android smart phones and devices, but also for being a “market leader in the home devices and video solutions business.”

Higher swing for European markets in mid-morning trade

European stocks have moved higher as the latest move to restore market order - a ban on short-selling of some financial shares - takes effect.

Nigeria Government takes over three rescued Banks

The Federal Government yesterday  through the Nigeria Deposit Insurance Corporation (NDIC) assumed ownership of Afribank, Bank PHB and Spring Bank  via  the “Bridge Bank” mechanism following the revocation of their licences by the Central Bank of Nigeria (CBN).

Barack Obama to announce Us Deficit deal

President Barack Obama says Republican and Democratic leaders have reached agreement on raising the US debt limit, thereby avoiding default.

Nigeria Banks in Top 1000 World Banks

Top Nigeria Banks in Top 1000 World Banks that were ranked by Tier One Capital in this year’s edition by The Banker magazine as published in its current edition. They include;

Islamic Banking in Nigeria; Muslim Leaders to defend it

MUSLIM leaders in their hundreds, under the aegis of the Supreme Council for Shari’ah in Nigeria, in Kaduna, on Sunday, said they would defend Islamic banking in Nigeria with the last drop of their blood.

How Nigeria government shared N1.3trillion from Federation Account

The three tiers of Government in Nigeria; Federal, states and local governments, has shared an record N1.3 trillion from the Federation Account and earnings of the Value Added Tax, VAT, earned in the month of June.

Banks Merger; Finbank, FCMB sign merger deal

Finbank and First City Monument Bank (FCMB) said on Friday they had signed a merger agreement, paving the way for Finbank to recapitalise ahead of the central bank's September deadline.

8 European Banks failed test

Eight of 90 European banks have failed in stress tests used to project how they would fare in another recession.

Trends and Evolution of islamic banking

Non interest banking, Islamic banking or participant banking is banking  activity that is consistent with the principles of Islamic law  (Sharia) and its practical application through the development of Islamic

World Bank MD Resigns, to become Finance Minister

Ngozi Okonjo-Iweala, World Bank managing director, resigned her post yesterday in order to become the finance ministerof Nigeria, spurring hopes of reform in the Nigerian economy.

Islamic Banking in Nigeria kicked by the Anglicans

The introduction of Islamic banking system in the country by the governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi has yet again receive negative reaction from the Anglicans.

IMF MD okays Islamic Bank for Nigeria

Former Finance minister Ngozi Okonjo-Iweala yesterday urged opponents of non-interest Islamic banking in the country to dispassionately understand the idea, which she said is simply another form of banking

CBN to nationalise rescued Banks

Following the criticisms that trailed its proposal to liquidate the rescued banks if they fail to recapitalise by September 30, the Central Bank of Nigeria (CBN) has soft-pedalled as it is now weighing nationalising the

GMD of Skye Bank not jailed

Official of Skye Bank yesterday denied reports in some national dailies that its Group Managing Director/Chief Executive Officer, Mr. Kehinde Durosinmi-Etti, was  jailed. 

Investment value on NSE dips further by N51bn

Investors’ woes heightened, Monday, as the value of their investment on the Nigerian Stock Exchange, NSE, continued its downward trend, dropping further by N51.11 billion.

CBN extends deadline on uniform account number

THE Central Bank of Nigeria (CBN) has extended the deadline for the full implementation of the Nigeria Uniform Account Number (NUBAN) to June 1, 2012.