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Find out what is making headlines all over the country from the covers of The Punch, Vanguard, The Guardian and more.

For today, August 25 2016:

THE GUARDIAN NEWSPAPER

Revenue plunges as Nigeria loses aviation hub to Ghana

Nigeria has lost its status as the aviation hub in West Africa to Ghana, a neighbouring country.

Banks banned from forex deals allege cover-up by CBN

Banks accused of not remitting the $2.3 billion belonging to the Federal Government into the Treasury Single Account (TSA) have alleged a cover-up by the Central Bank of Nigeria (CBN). READ MORE

Italy quake kills 159 as rescuers race to find survivors

A powerful earthquake shook central Italy on Wednesday, leaving at least 159 people dead and a trail of destruction across several mountain villages packed with holidaymakers. READ MORE

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THE VANGUARD NEWSPAPER

Naira appreciates to N315.93/dollar as foreign investors take advantage

Naira, yesterday, appreciated by 3.52 per cent to close at N315.93 to a dollar at the interbank market, prompting calls for foreign investors to take advantage of the appreciation. READ MORE

Cutting of workers’ pay, hours illegal, FG tells govs

Government, yesterday, warned governors against reducing the remunerations and hours of work of workers.

We’ve video, pictures of soldiers engaged in oil bunkering —Avengers

WARRI—Niger Delta Avengers, NDA, yesterday, alleged that soldiers were the merchants of oil bunkering in the Niger Delta and that they have video and pictorial evidence of their involvement in crude oil theft and records, including how much they collect and make per day from illegal oil bunkering. READ MORE

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THE NATION NEWSPAPER

$2.274b NNPC cash: Day of reckoning for banks

BARELY 24 hours after the apex bank announced the suspension of nine banks from Foreign Exchange (forex) market transactions for violating the rules of the game, the management of the affected banks yesterday rose to clear their names. READ MORE

N5b army vehicles scandal: EFCC to grill 25 suspects

How did the Army spend a N5billion vehicles purchase grant from the Office of the National Security Adviser (ONSA) ?

Banks’ bad loans rise to N649.63b

BANKS are carrying a heavy load of Non-Performing Loans (NPLs), which rose 78 per cent year-on-year to N649.63 billion last May. READ MORE

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THE PUNCH NEWSPAPER

Retrace your steps, Sanusi warns Buhari

The Emir of Kano, Alhaji Mohammadu Sanusi, says the President Muhammadu Buhari-led administration may end up like the immediate past President Jonathan’s administration if it fails to retrace its steps on some policies. READ MORE

CBN to stop dud cheque issuers from operating current account

The Central Bank of Nigeria is in the process of stopping issuers of dud cheques (returned cheques) from opening current account, the Deputy Director, Banking Supervision, CBN, Mr. Stephen Nwadiuko, has said. READ MORE

EFCC arrests Ayade’s brother for alleged N2.7bn fraud

The Economic and Financial Crimes Commission has arrested Dr Frank Ayade, a younger brother of the Cross River State Governor, Prof. Ben Ayade.

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THE BUSINESS DAY NEWSPAPER

Nigerian rice gains traction on better processing, lower Naira

Nigeria's local rice produce is gaining acceptance at home, aided by improved production and milling capacity, as well as the fall in the value of the local currency (the Naira) against the US dollar, which is shooting up the cost of foreign variety.

Over $2.40bn worth of OTC FX Futures contracts offered by CBN

Over $2.40billion worth of the OTC FX Futures contracts offered by the Central Bank of Nigeria (CBN), across all the tenors, with the profile of the contract buyers including Authorised Dealers Foreign Portfolio Investors and importers, among others, have been traded.

FEC approves 2017-2019 MTEF, targets to grow economy to 3% in 2017

The Federal Executives Council (FEC) on Wednesday approved the Medium Term Framework (MTEF) for 2017-2019 with a target to grow the economy from 3% in 2017 to 4.26% in 2018 with emphasis on the development of critical infrastructure.

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