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Photo, Video

15:47 Airport Will Temporarily Shut, Disrupting a Nigerian Lifeline

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17:43 Dangote drops out of TOP 100 richest in the world, meet 3 richest Nigerians for 2017

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15:19 Nigeria will struggle to lure back Investors, Except it floats Naira – JPMorgan

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21:23 Abuja airport 57.5% completed as FG reaffirms re-opening date

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16:56 First Bank, others roll out gifts to Nigerian Lady who refunded guy their date money (photos)

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22:10 NEITI Tasks FG To Reclaim NNPC Unremitted Funds

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15:15 EFCC begins manhunt for owner of seized N448.85m found in Lagos shopping complex

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22:04 UPDATE: EFCC discovers N448.8 million at abandoned Bureau de Change in Lagos

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Business

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  • Falling Inflation, Retail Sales Bolster Fed's Go-Slow Approach

    April 14, 2017 4:34 PM 20

    The economic case for a Federal Reserve interest-rate increase in June just became a little less solid. Inflation took a surprising step back in March at the same time retail sales dropped for a second month, according to a pair of U.S. government reports on Friday. Labor Department data showed the consumer-price index fell a larger-than-forecast 0.3 percent

  • U.S. retail sales, inflation data highlight weak first quarter growth

    April 14, 2017 4:34 PM 16

    WASHINGTON U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, underscoring the magnitude of the loss of economic growth momentum in the first quarter. But with the labor market near full employment, Friday's weak reports failed to change views that the Federal Reserve will raise

  • U.S. retail sales, consumer prices slump in March

    April 14, 2017 4:34 PM 19

    U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, supporting views that the economy lost significant momentum in the first quarter. But with the labor market near full employment, the decline in sales and consumer prices reported by the government on Friday is likely temporary

  • EFCC moves seized $43m, £27,000, N23m to CBN

    April 14, 2017 12:14 AM 28

    WHO owns the huge cash recovered from an apartment in Ikoyi, Lagos on Wednesday? The apartment on 6, Osborne Road, Ikoyi is under surveillance by EFCC operatives. Although three highly-placed Nigerians have been linked with the seized cash, they have all denied having anything to do with the money. They are a former National Chairman of the Peoples Democratic

  • Senate probes Customs’ 30trn revenue leakage fraud

    April 13, 2017 5:08 AM 15

    The Senate Committee on Customs, Exercise and Tariff has commenced investigation into the more than N30 trillion fraud allegedly carried out in the import, export value chain between 2006 and 2017. The Chairman of the committee, Sen. Hope Uzodinma made this known at an investigative meeting with some of the commercial banks, alleged to be accomplices

  • Senate panel alleges N30tn forex scam in banks, begins probe

    April 13, 2017 2:36 AM 16

    The Senate has begun an investigation into alleged foreign exchange racketeering by commercial banks and importers. The upper chamber of the National Assembly alleged that Nigeria had lost over N30tn to the alleged forex diversion between 2006 and 2017. The Senate Committee on Customs, Excise and Tariff, on Wednesday, met with commercial banks in the country

  • Forex: Cost of funds hits 200% in interbank market

    April 13, 2017 1:04 AM 16

    LAGOS—The huge dollar sales by the Central Bank of Nigeria, CBN, yesterday, caused intense scarcity of funds in the interbank money market, which prompted cost of funds to rise sharply to 200 per cent. From last Friday to Tuesday this week, the CBN had sold over $800 million in both spot and forward transactions. According to a money market source, who spoke

  • EFCC finds $43m, N23m, £27,000 cash in Lagos home

    April 12, 2017 11:09 PM 23

    ACTING on a tip-off, the Economic and Financial Crimes Commission (EFCC) yesterday found $43.4 million (about N13.237 billion), N23 million and £27,000 cash at House 16, Osborne Road in Ikoyi, Lagos Island. The anti-graft agency suspected that the cash might have been proceeds of crime kept at the residence to prevent any bank alert. But the identity

  • CBN releases additional $250m for forwards market

    April 12, 2017 7:20 PM 21

    WorldStage Newsonline-- The Central Bank of Nigeria (CBN) on Wednesday released additional $250 million on 7 to 30-day forwards for agriculture, airline, petroleum products and raw materials, according to a statement. The apex bank also called for bids for wholesale spot for $100 million for Basic/Personal Travelling Allowance, medicals and tuition fees. Confirming

  • EFCC Discovers Huge Sums Of Money In Ikoyi Apartment

    April 12, 2017 7:10 PM 23

    Its another major breakthrough for the EFCC Today, as the agency reportedly bursted a home where it says it recovered huge sums of money in Dollars, Pounds and in Naira. Although the agency did not disclose the home from where this huge cash was recovered, it says it recovered 38 million Dollars, 23 million Naira and another 27,000 Pounds, from the same apartment