Nigerian News from Leadership News
  • Forex: FG Orders CBN To Abolish Parallel Market

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    As the gap between the value of the Naira at the interbank and parallel market continues to widen, the Federal Government has announced plans to converge the rates by abolishing the parallel market. The gap between the interbank and parallel market rates has grown to N184.75 as at yesterday, as the naira was sold at…

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  • Nigeria’s Economy Slips Further Into Recession

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    Nigeria’s economy further receded in the third quarter, with a 2.24 per cent contraction in Gross Domestic Product (GDP), while real GDP expanded for the second consecutive quarter, the National Bureau of Statistics (NBS) said yesterday. According to latest data, real GDP, unadjusted for seasonality increased by 8.99 percent quarter on quarter, which was an…

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  • Heritage Bank Committed To Sustainable Growth – Akinfemiwa

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    Heritage Bank Plc has said it is committed to sustainable growth with the aim of emerging as a systemic important bank in Nigeria despite the headwinds facing the macro-economic environment. Chairman of the bank, Mr. Akinsola Akinfemiwa, stated this at the bank’s premier investors’ forum held in Lagos, remarking that “Our ambition to emerge as…

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  • 2 Nigerian Banks Close To Insolvency, Deficit – Analysts

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    Two Nigerian Banks are close to being insolvent, while two others “will need a dilutive capital hike,” Jaap Meijer and Tarek Sleiman, analysts at Arqaam Capital, Dubai-based investment bank and brokerage told Bloomberg yesterday. According to the analysts in an e-mailed note, Capital ratios are set to worsen in the country’s banking system because of…

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  • Hilton Expands, To Build 350 Room Hotel In Lagos Airport

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    Hilton has announced the signing of a management agreement with Quality Inspection & Testing Services Limited to open a 350 guest-room and suite hotel at Lagos’ Murtala Muhammed International Airport, Nigeria. The hotel, which agreement was signed at AHIF 2016 in Rwanda, is set to open in 2023 and joins Hilton’s growing African portfolio of…

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