Business

Amidst heightened political tension in the Nigerian economy, the total transactions done by foreign investors on the floor of the Nigerian Stock Exchange (NSE) rose by 26.53 per cent or N207.85 billion in the third quarter…

MTN  long running battles with the Central Bank of Nigeria (CBN) and office of the Attorney General of the Federation (AGF) may be close to resolution. The telecoms giant, the apex bank, and four commercial banks are scheduled…

Access Bank is set to add Diamond Bank’s portfolio to its assets in the next  few months, The Nation has learnt. Talks on the acquisition are on, according to sources,  who  said the fusion is set for  the first quarter of…

Federal Inland Revenue Service, FIRS, yesterday disclosed that it had recorded a remarkable performance in terms of revenue collection this year, adding that, as at October 31st, it recorded a collection of N4.3trillion.Speaking at…

Tony Elumelu, chairman of Heirs Holdings, says if local investors are burnt in business, foreign investors would not come in to invest.  Speaking on the second presidential panel at the just concluded Africa…

The Nigerian Union of Traders Association Ghana (NUTAG), has commended President Mohammadu Buhari-led government, ECOWAS, Ghanaian authority and others for their intervention in the reopening of Nigerians shops in Ghana.…

Over 6,000 jobs and N949 billion of depositors’ funds have been saved by the Central Bank of Nigeria’s (CBN) decision to revoke Skye Bank’s operating license and setting up a bridge bank. The was disclosed by the…

The South African Reserve Bank (SARB) yesterday claimed that the financial dispute between the Nigerian authorities and telecommunications giant, MTN Group Limited, could potentially destabilise the country’s financial system.…

The United States is now the world’s biggest crude oil producer, pushing Russia and Saudi Arabia to the back seat.In the week ending November, the U.S. crude production hit a whopping 11.6 million bpd, according to Energy…

Aliko Dangote, president of Dangote Group, says the conglomerate’s revenue base will hit $30 billion by 2020 — a feat he would have considered impossible 10 years ago. Speaking at the first ever Africa …

Vice-President Yemi Osinbajo says there is a need to reform Nigerian banks for them to meet up with the inevitability of the Fintech revolution. Speaking at the ongoing first ever Africa Investment Forum in Johannesburg on…

The Central Bank of Nigeria (CBN) has warned commercial banks to guard against emerging risks in the financial system, saying the sector’s resilience appears to be receding. The Deputy Governor, Corporate Service Department of…

The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that it recorded crude oil and gas export sale of $470 million in August 2018, indicating an upsurge of about $78 million in relation to July oil and gas export…

The Lagos Chamber of Commerce and Industry (LCCI) has raised the alarm that high excise duties on locally-produced goods and challenges of exporting made-in-Nigeria products, as well as the inaccessibility of the Lagos ports…

President Muhammadu Buhari yesterday said about N24.7 billion was being saved monthly as a result of the implementation of Treasury Single Accounts (TSA) scheme, the Integrated Payroll and Personnel Information System (IPPIS)…

African Development Bank, AfDB, has expressed concern that many African owned firms are forced to drop out of the market due to unfair competition from Chinese companies. Senior Director, AfDB Nigeria, Mr. Ebrima Faal, said…

The Federal Government has spent spent N16 billion on Treasury Single Account (TSA) transaction costs in two years, Accountant-General of the Federation (AGF) Ahmed Idris has said. He said the government would no longer…

The Central Bank of Nigeria (CBN), in a report on Friday announced that global banking giant HSBC and UBS, a Swiss private bank, have closed their representative offices in Nigeria. The report did not state why the banks…

Oil prices fell on Friday as surging output by the world’s three largest producers, United States, Russia and Saudi Arabia, outweighed supply concerns from the start of U.S. sanctions next week against Iran’s petroleum…

John Bray, US consul general, and Laura Beaufils, British deputy high commissioner to Nigeria, say the issues faced by MTN in recent times sent bad signals to foreign investors. The US and UK envoys made the assertion on…

THE Central Bank of Nigeria, CBN, yesterday, disclosed that commercial banks have refunded N6.8 billion excess charges to their customers in the first half of 2018, H1’18.The apex bank disclosed this in its half year, 2018 economic…

Aquitane Oil and Gas Limited says it is not indebted to the Assets Management Corporation of Nigeria (AMCON). In a letter sent to TheCable and signed by Ikechukwu Okolo, its managing director, the company said its name was…

The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers. A statement from the Debt Management Office (DMO) stated that it has “commenced the accelerated implementation of…

The continental multilateral financial institution, Africa Finance Corporation (AFC), is on the verge of finalising a $100 million (N36.5 billion) investment deal in Nigeria’s mining sector. About half of the planned…