Business

COMMERCIAL banks have written off N1.9 trillion bad loans from their books in the last four years, a report by Agusto & Co, a credit rating agency has said. This was contained in the…

          Business owners who use of point of sale systems, as well as those who run lotto shops and kiosks around Agbado/Oke-Odo local council developemt area (LCDA) in Lagos state, have been asked to pay a weekly levy of N600 to…

Despite fears being expressed in some quarters that the Asset Management Corporation Nigeria (AMCON) may not be able to recover its over N5trillion debt stocks, from available…

After a dramatic first quarter which ended with the declaration of a nationwide lockdown, Nigeria’s billionaires and entrepreneurs entered Q2 2020 uncertain of what the…

A steady decline in the dollar has accelerated in recent weeks, as a resurgent coronavirus outbreak in the United States and improving economic prospects abroad sour investors on the currency. The buck is down 8% from its highs of…

Nigeria’s southeastern Cross River state is setting up a 4-billion naira ($10-million) cocoa-processing plant to start operations in August and target the export market, an official said. Cross River, which accounts for about 30%…

Block makers and artisans who are major users of cement have endorsed the ongoing Dangote Cement bag of goodies season 2 promo. The building sector professionals drawn from different…

First, a Milestone Moment! Nigeria has produced, for the first time ever, in June 2020, artisanally-mined gold that has been processed and refined according to the London Bullion Market Association (LBMA) standards required for…

Nigerian Banks increased their total loans to the Nigerian economy by N3.3 trillion in June 2020. This is according to information contained in the monetary policy communique of the…

Access Bank Plc on Monday announced the completion of the acquisition of Transnational Bank (Kenya) Plc. The bank, in a notice to the investing public and the Nigerian Stock Exchange, noted  that the acquisition followed the receipt…

The value of transactions done across Point of Sale (PoS) channels in Nigeria increased from N1.14 trillion recorded between January and May 2019 to N1.64 trillion…

The monetary policy committee of the Central Bank of Nigeria (CBN) has announced its decision to retain the monetary policy rate (MPR) at 12.5 percent. Godwin Emefiele, governor of the apex bank,…

Banks will from on Monday slash the amount customers can spend abroad, using their debit cards. This is due to dollar shortage resulting from the sharp fall in crude oil prices. Crude oil…

At the intersection between life and livelihood, former billionaire businessman, Festus Fadeyi, is cliffhanging dangerously. Until recently, Fadeyi was the self-effacing but…

The Minister of Youths and Sports, Sunday Dare, has disbursed interest free loan, under the Micro Enterprise Enhancement Scheme (MEES), to women in Oyo State. Dare said in a…

The Lagos State Government has started disbursing funds to indigent residents as start-up capital for small scale businesses. The empowerment scheme is under the Eko Cares Initiative Under the scheme, each beneficiary gets N20,000…

Reports across major news outlets in Nigeria reveal the central bank is seeking sweeping powers to freeze bank accounts “linked to criminals” in the country. It expects the powers to be…

......Wins Award for Nigeria’s Best Bank for a record 10th time Guaranty Trust Bank Plc has been awarded the Euromoney Excellence in Leadership Africa Award, a premier award category set up…

Shareholders of Jaiz Bank Plc, will receive their first ever dividend payment since the bank began operation. Shareholders of Jaiz Bank on Thursday approved the Bank’s proposed…

To reward consumers and improve the livelihoods of its consumers around Nigeria, Dangote Cement Plc yesterday unveiled plans to produce an astonishing nine millionaires daily in its…

The Central Bank of Nigeria (CBN), on Monday, released a policy that would allow banks to settle loan defaults with the customers’ deposits in other banks.…

The Central Bank of Nigeria (CBN) has approached the Senate to grant it powers to freeze accounts linked to crime suspects. The CBN made the appeal on Wednesday at a Senate Committee…

U.S. President Donald Trump said he was responsible for Prime Minister Boris Johnson’s decision to ban Huawei from Britain’s 5G network. Johnson on Tuesday ordered Huawei…

Committed to “Redefining and repositioning Agricultural value chains during and post the COVID-19 era” The agriculture sector in Nigeria and the larger African continent faces a…