Chronic forex shortage pushes naira to 445/dollar

Oyetunji Abioye, (Punch) - The chronic dollar shortage hitting the economy took a new twist last Wednesday with the local currency dropping to 428 to the dollar after trading around 424 for several weeks. The naira lost 0.05 per cent of its value between last Wednesday and Monday, an equivalent of N21 in less than a week.


FG pleads with the US to lift its ban on the importation of Nigeria's crude

Staff, (Punch) - The FG has pleaded with the US to lift its ban on the importation of Nigeria's crude, describing the action as antithetical to the flourish of trade and economic cooperation upon which Africa Growth and Opportunity Act, AGOA, was founded.

Recession: Governors lavish billions of naira on bulletproof cars for selves, wives

Staff, (Punch) - There are indications that some governors, their wives and deputy governors have continued to ride in expensive bulletproof vehicles in spite of the biting economic recession in the country.

Report lists U.S., Germany, France as custodians of stolen money from Nigeria

Collin Olayinka, (Guardian) - A report by London-based Public Service International Research Unit (PSIRU) has listed United States, Spain and France as countries that keep illicit funds from Nigeria.

Emeka Offor's family chides New-York based Online newspaper, others over alleged smear campaign

Staff, (Vanguard) - The family of billionaire businessman and Executive Vice-Chairman of Chrome Group, Sir Emeka Offor, has chided a New-York based online newspaper, and others, over what it described as a deliberate targeted smear campaign against their son (Emeka Offor), possibly for economic gain and at the behest of certain unscrupulous elements.

Naira crashes against major currencies, falls to 428 per dollar

NAN, (Punch) - The Nigerian currency on Wednesday depreciated against the three major currencies in all the segments of the Forex market. The naira fell at the parallel market to N428 against the dollar, N550 against the Pound Sterling and N468 per Euro.

Nigerian scientist develops new malaria vaccine

NAN, (Guardian) - Prof. Nasiru Shua'ibu of Biochemical Parasitology Department, Ahmadu Bello University (ABU), Zaria has developed a new malaria vaccine to prevent high rate of death from malaria fever.