Browsing Category
Business
Despite Decline in Two Quarters, Capital Importation Surges 61% in 3 Years
Notwithstanding the recent decline, the National Bureau of Statistics says capital importation into Nigeria has significantly risen in the last three years with nine months accrued value in 2019 surpassing…
Lawyer tells AMCON to declare VIP debtors bankrupt
A legal consultant and Senior Partner, Olaniwun Ajayi-LP, Mr. Muyiwa Balogun, has challenged the Asset Management Corporation of Nigeria (AMCON) and Judges of the Federal High…
Nigeria’s financial system getting stronger, says Emefiele
THE Nigerian financial system is getting stronger and more resilient with capital buffers and liquidity in the sector improving, the Central Bank of Nigeria (CBN) Governor,…
CitiBank names Akin Dawodu cluster Head for Sub Saharan Africa
CitiBank has appointed Akin Dawodu as Cluster Head for Sub Saharan Africa (SSA), effective immediately. Akin will report to Atiq Rehman, EMEA Emerging Markets Cluster…
Nigeria’s pension assets hit N9.58 trillion
The National Pension Commission (PenCom) says its assets in the contributory pension scheme (CPS) have grown to N9.58 trillion. Aisha Dahir-Umar, acting director-general of…
Telcos ask banks to pay or get disconnected from USSD service
Telecommunications companies say they may stop offering Unstructured Supplementary Service Data (USSD) services to financial institutions for free. The companies,…
At 59.3 Point, Manufacturing Index Rises for 32nd Consecutive Month
The Manufacturing Purchasing Managers’ Index (PMI) in the month of November stood at 59.3 index points, indicating expansion in the manufacturing sector for the 32nd consecutive month.The index grew at a…
Steel Operators Hail Border Closure, Say Smuggling Stifling Sector
Steel sector operators have applauded the recent closure of Nigeria’s land borders, saying until the federal government took the action, the sector was on the brink of extinction.They urged the federal government…
Konga founder Sim Shagaya raises $3.1m for new venture
Sim Shagaya, Nigerian founder of e-commerce platform Konga, is back with a new startup — uLesson — that has raised a $3.1 million seed round led…
Pay outstanding N20tr debt – FG tells oil firms
......... Enforcement of Production Sharing Contract Act to begin, says minister INTERNATIONAL Oil Companies (IOCs) should pay outstanding N20 trillion royalty due…
Uber loses licence in London
Transport for London announced Monday that it has stripped Uber of its licence to operate in London for not being “ fit and proper.” The regulatory agency said it would not…
Border closure: Inflation will be moderate in three months – Emefiele
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that the rise in inflation is temporary and will go down aggressively in another three to…
Awosika appointed as Access Bank Plc Board Chairman
Dr Ajoritsedere Awosika was on Tuesday announced as the new Chairman of Access Bank Plc by the Board of Directors of the bank. The bank’s Company Secretary, Mr Sunday…
Man City’s revenue rises to £535m
MANCHESTER City’s on-field success saw the club’s revenues swell to £535 million ($692 million) last season as the Premier League champions posted a profit for the…
Oil flows from Ubima Marginal Field 55 years after
The Ubima Marginal Field in Oil Mining Lease (OML) 17 in Ikwerre Local Government Area of Rivers State has produced first oil in more than 10 years, its operators, All Grace Energy…
Merchants dump PoS, inactive terminals hit 131,201
Some retailers using Point of Sales terminals to receive payments have abandoned the device and reverted to cash payments, investigation has shown.Some of them who spoke with our correspondent said the decision…
OPay gets central bank’s approval for international money transfer services
OPay, a provider of payment, a ride-hailing company, food delivery and loan services firm, has been granted approval by the Central Bank of Nigeria (CBN) to commence…
Air Peace signs $212.6 million Embraer pact
Air Peace has signed a contract for the purchase of three additional Embraer 195-E2s regional jets valued at $212.6 million. The deal, according the airline’s spokesman,…
Subsidy on petrol now N18.68 per litre – PPPRA
The current open market price for Premium Motor Spirit, popularly known as petrol is N163.68 per litre, the Petroleum Products Pricing Regulatory Agency stated on Monday.…
Nigerians abandon 4m bank accounts in one year
INACTIVE bank accounts rose by four million or 10 percent to 45 million in one year period ending October 31, 2019 from 41 million as at same period of 2018.Financial Vanguard analysis of industry…
BREAKING: Inflation hits 11.61% — highest in 18 months
The consumer price index, which measures inflation, rose to 11.61% in October, data released by the National Bureau of Statistics (NBS) has shown. This is an increase of…
Border closure and ‘FX43’: A strategic combination
THE dual policies of border closure and the earlier exclusion of 43 items (FX43) from the Interbank Foreign Exchange Market by the Central Bank of Nigeria, CBN, are a strategic combination aimed at plugging…
Big Brother Naija overview: The business, lessons and realities
ROTIMI IGE writes about how the recently concluded Big Brother Naija season 4 Pepper Dem shaped and sustained conversations around the world for 99 days, became an investor’s hub, and ultimately a veritable…
CBN injects $341.75m, ¥14.7m into retail forex market
Central Bank of Nigeria (CBN), has intervened in the Retail Secondary Market Intervention Sales (SMIS), to the tune of $341.75 million in addition to ¥14.7 million in the spot and short-tenored forwards segment…