A cute scarcity of kerosene has hit the ancient city of Kano, making life unbearable for low-income earners, who depend on the product for cooking. Investigation showed that during the Christmas and New Year celebrations, the product became very scarce and the price rose. Filling stations have resorted to hoarding the commodity, selling to black-

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The Central Bank of Nigeria (CBN) yesterday appointed Deposit Money Banks (DMBs), Microfinance Banks (MfBs) and Development Finance Institutions (DFIs) to disburse N220 billion targeted at the Anchor Borrowers’ Programme (ABP). The apex bank also released guidelines for the implementation of ABP which it said was established in line with its

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Oil prices hit 18-month highs yesterday, the first trading day of 2017, buoyed by hopes that a deal between Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members to cut production, which kicked in on Sunday, will drain a global supply glut. Benchmark Brent sweet crude jumped more than two per cent to a high of 58.37

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Central Bank of Nigeria (CBN) Governor Godwin Emefiele said yesterday that Nigeria spends the equivalent of N1trillion in foreign exchange annually to import rice and wheat. Emefiele spoke in Jibia, Katsina State, at the launch of the CBN Anchor Borrowers Programme and 2016/2017 Dry Season Farming. ‘’Nigeria’s import bill is exceptionally high;

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The power sector lost more than N534billion of revenue in 2016, the Nigerian Electricity Supply Industry (NESI) has revealed. Of this figure, the industry lost N1.525 billion on December 24, last year alone. According to NESI, the N534billion amounts to the value of electricity lost on account of the challenges, part of which could have been used to

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The Central Bank of Nigeria (CBN) has deregulated the Merchant Service Charge (MSC) and will be implementing a new pricing regime on electronic transactions by the second quarter of this year. MSC is a fee paid by merchants for e-transactions done through Point of Sales (PoS) terminals. CBN Director, Banking and Payment System Department

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The Bank of Industry (BoI) has shortlisted 200 persons in Kano to benefit from the N140billion Government Enterprise and Empowerment Programme (GEEP). GEEP is a Federal Government inituiative aimed at empowering vulnerable groups in the country. Vice President Prof Yemi Osinbajo who spoke during a town hall meeting in Kano said GEEP

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