Business

• 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…

Investors’ interest in the equity market spurred yesterday as the all-share index (ASI) surged by 50bps, closing at 25,783.02 points. This comes after the monetary policy cut rate by 100bps to 11.5 percent and adjusted the…

The federal government has put one of the jets in the presidential fleet up for sale. The Hawker 4000 aircraft with registration number, 5N-FGX/: RC 066, was advertised for sale in a call for bid published in some national…

Nigerians increasing their use of BTC is no longer news, but what seems astonishing is the volume that they transact with BTCs weekly, compared to other African countries. Data shows that the use of Bitcoin for peer to peer…

Africa’s largest cement manufacturer, Dangote Cement has grown the wealth of its shareholders, paying over N 1 trillion as dividends in the past seven years. According to the cement company’s…

Did you travel to the UK and urgently need some FX to fund your debit card? Sorry, you now have to return to Nigeria, buy the dollar, pay into your card and return to the UK to continue…

The monetary policy committee of the Central Bank of Nigeria (CBN) has announced that the monetary policy rate (MPR), which determines interest rate, will be reduced by 100 basis points from 12.5 percent to 11.5 percent. Godwin…

There’s a popular misconception that banks are the only ones with account holders’ banking information such as their Bank Verification Number and card details. No doubt, they become the first to…

Investors fell over one another to lend to the government at a rate that was materially lower than inflation — which would leave them with 10 percent less of their money in real terms at the time…

A new report by Oxford Business Group (OBG) has revealed how Kaduna State, Northwest Nigeria attracted $2.61 billion Foreign Direct Investment (FDI) in the first six months of 2020. The report was produced in…