Business

The Central Bank of Nigeria (CBN) has again made interventions in the Retail Secondary Market Intervention Sales (SMIS) of the Foreign Exchange market totaling $279.13 million and CNY 46.92. Figures of the sales consummated on…

PRESIDENT BUHARI PRESIDES OVER SIGN OF NSECOM AND ITS INVESTMENT PARTNERS B. L-R; President Muhammadu Buhari, Managing Director and Chief Executive officer Nigerian Sovereign Investment Authority (NSIA). Mr. Uche Orji and Minister of…

The euro held at a two-week low on Friday as traders nursed losses in a week of bad data that indicated an economic slowdown in Europe was spreading as trade tensions between United States and China remain high. The single…

Mr Babatunde Fowler Executive Chairman of Federal Inland Revenue Service (FIRS) …to share list of defaulters with Police The Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, has said that the Service, in…

Twitter said Thursday profits rose sharply in the fourth quarter, lifted by gains in advertising despite a drop in its global user base. The short-messaging platform said it posted a $255 million profit in the final three months…

Mr Ayuba Wabba, President, Nigeria Labour Congress (NLC) has promised to double his efforts in protecting the interest and rights of the Nigerian workers. Wabba made the promise in his acceptance speech, which he read at the end…

US President Donald Trump has nominated David Malpass, a critic of multilateral institutions like the World Bank, to replace Jim Yong Kim as the World Bank president. Malpass is a Trump loyalist, who served as senior…

Fifteen years after the Bureau for Public Enterprise (BPE) proposed an anti-trust law to checkmate monopoly in the Nigerian economy, President Muhammadu Buhari has signed the Federal Competition and Consumer Protection bill. …

The price of garri, a staple food in the country, has crashed by about 37.5 per cent in most markets in Lagos, the News Agency of Nigeria (NAN) reports. A survey conducted at Oyingbo, Iddo, Ikosi, Mile 12 and Ikorodu markets…

The Nigerian National Petroleum Corporation, NNPC, yesterday, announced a trading surplus of N2.06 billion for November 2018, as against the previous month’s deficit of N12.66 billion. In a statement on its November 2018…

AHEAD of next week Presidential and National Assembly elections, Nigeria Labour Congress, NLC, Tuesday in Abuja, warned the political class planning to sell the nation’s refineries to prepare for a battle with Organised Labour,…

Dangote Group, the Nigeria Liquefied Natural Gas Limited (NLNG), and four other companies have joined in on the federal government drive to build infrastructure across Nigeria. The companies, which also includes Lafarge…

Audu Ogbeh, minister of agriculture and natural resources, says the federal government will place a final ban on the importation of tomato paste before the end of 2019. Speaking in Kano during a tour of the Dangote Tomato…

The chief executive of cryptocurrency company, Quadriga CX has died with all the passwords necessary to to unlock all his customers’ bitcoins. Without their digital keys, his clients lose access to their funds. The company’s…

Two years into Donald Trump’s presidency, the man who has profited most from the era is his foremost nemesis in the business world, Amazon.com Inc. founder Jeff Bezos. Trump has repeatedly vilified Bezos, threatening his company…

In what could be described as a bold step to consolidate its hold in the beverage industry, global carbonated soft drink manufacturer, The Coca-Cola Company has completed the acquisition of Chi Nigeria Limited. The acquisition…

The Central Bank of Nigeria, CBN, has refuted a front-page news story of Business Day which claims that faceless agents pocket over N32bn annually in profit from the foreign exchange market with the aid of CBN officials. The…

The President of Dangote Group, Alhaji Aliko Dangote, has said premium motor spirit (PMS) or petrol that will be refined from Dangote Refinery will not be sold at Federal Government’s regulated price. This ends the speculation…

Nigeria’s foreign assets as well as its oil vessels in international waters are at risk as a British company moves to enforce a $9bn arbitration award against the country over a breach of contract, TheCable can report. Process…

The newly launched Hub One situated in the heart of Yaba Lagos The Nigerian Tech industry has grown in leaps and bounds over the years. Many innovative ideas, platforms and more have been developed, which have provided more job…

Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of N246.38bn generating their own electricity between 2016 and 2017. Further analysis of the…

Conglomerate giant PZ Cussons Nigeria Plc says it is not leaving Nigeria and that claims of its departure from the country is totally false. The Chief Executive Officer (CEO) of PZ Cussons Mr. Christos Giannopoulos in a…

The Chairman of Zenith Bank Plc, Mr. Jim Ovia, has lauded the federal government’s economic team for pulling the economy out of economic recession, acknowledging that the country’s economic outlook shows that it is now on a growth…

The Manufacturing Purchasing Managers’ Index (PM) stood at 58.5 index points in January. This indicated an expansion in the manufacturing sector for the 22nd consecutive month. According to the PMI report for January released…