Business

A Nigerian Company, Erojim Investments Ltd, which has the approval of the Buhari administration will manufacture locally all military and paramilitary garments and footwear…

Shipping and airline companies have been depriving Nigeria of the much-needed dollar earnings by not remitting export proceeds, the Central Bank of Nigeria (CBN) said on Wednesday. The apex…

The biggest shareholders of Nigeria’s 30 largest firms lost a whopping sum of N939 billion combined in the first half of 2020 as the COVID-19 pandemic took a toll on the equities…

YouTube on Thursday announced that artists and creators from Nigeria could apply for grants from its global 100 million dollar Black Voices Fund. Alex Okosi, Managing Director,…

The COVID-19 pandemic is projected to cost the African continent $18 billion in remittances, the United Nations Economic Commission for Africa (UNECA) has said. A new report launched…

Philip Morris International Inc’s CEO Andre Calantzopoulos has projected that cigarette sales could end between the next 10-15 years. He spoke at a recent virtual Concordia…

Fitch Ratings has expressed concerns about the state of the naira and rising forex demand backlog estimated at $2 billion. The forex demand backlog stood at $1…

The Domestic Refinery Owners Association of Nigeria (DROAN), have thrown their weight behind the Federal Government’s removal of oil subsidy in the country. The National Chairman of the…

TWENTY five per cent of jobs are on the line at Chevron Nigeria Limited in what the company yesterday described as a review of  its manpower requirements in the light of the changing…

• IATA downgrades 2020 forecasts About a month after international flight operations resumed in Nigeria and other countries, air traffic is not showing signs of recovery, suggesting global traveller apathy…

Contrary to reports in some sections of the media, the raging ownership dispute between pharmaceutical retail chain,  HealthPlus, and its private equity partner, United Kingdom’s Alta Semper Capital, may be as a…

U.S. stock futures and oil prices fell on Friday after President Donald Trump said he and his wife had tested positive for the coronavirus, weeks ahead of elections. Futures…

Access Bank Plc on Tuesday announced that it has received the Central Bank of Nigeria’s approval-in-principle for the bank’s restructuring to a holding company (“HoldCo”). The proposed HoldCo structure would enable the…

HIGH networth Nigerians now prefer to save their cash in dollars, a report has shown. The Coronation Research in a survey discovered that dollar deposits constitute 40 per cent of banking sector deposits. Many…

Lawyers to HealthPlus, the pharmaceutical retail firm at the centre of a running hostile takeover drama, have stated that Alta Semper Capital, a British foreign private equity firm (PEF), lacks the power to…

Sterling Bank Plc has received Central Bank of Nigeria (CBN)’s approval-in-principle to restructure from a stand-alone commercial bank to a holding company (holdco). A…

Luxury automaker, BMW will pay a fine $18 million to settle allegations that it inflated its monthly sales numbers for five straight years in United States. The Securities and Exchange…

A few years ago, the Nigerian Ports Authority on behalf of the federal government entered into an agreement with a sister company of INTELS Nigeria, Deep Offshore Limited to build 200 metres of the berth at Onne port,…

Health Plus, a pharmaceutical company, has accused Alta Semper Capital, a United Kingdom-based private equity firm (PEF), of a fraudulent attempt to take over its business.…

The Central Bank of Nigeria (CBN) yesterday disclosed that it had recovered over N400 billion out of about N600 billion it lent to farmers in its Commercial Agriculture Credit Scheme (CACS). The Director,…

Nigeria’s stock market continued on its upward route throughout the trading days in the week ended Friday September 25, 2020. The record positives made equity investors in Africa’s largest…

The Nigerian government risks rolling back the gains of the recent reforms in the power sector and will further miss the opportunity to build on a credible electricity market for investors if it reverses to a…

Julius Berger Nigeria Plc has notified the Nigerian Stock Exchange (NSE) and the capital market community that the company’s Board at its meeting held on September 22, 2020, approved a…

Britain’s Royal Household on Friday defended taxpayer-funded trips, including a golfing jaunt by the beleaguered Prince Andrew, as it warned of a financial hit stemming from the…