Business

Online shopping in Nigeria and other African countries could account for up to $75 billion in retail sales by 2025, a report by the McKinsey Global Institute has projected. The report, which was got by …

The Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has hinted on the corporation’s plan to disengage Asset Management Partners (AMPs) that are not effective in…

The Federal Government has said that the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers Programme (ABP) for 2019 is targeting 100,000 cotton farmers across the country. Hajiya A’isha Abubakar, the…

Lukman Otunuga, a research analyst at Forex Time, award-winning international forex broker, says the decision to change or retain or change the governor of the Central Bank of Nigeria will impact foreign…

The bearish run on the Nigerian Stock Exchange (NSE) continued on Tuesday as all share index (ASI) plunged by 1.02% to close at 31,313.36 points. Trading results at the close of market showed that poor…

Kogi West Senator, Dino Melaye, has picked holes in the 2019 budget of the federal government saying the dollar may soon trade at N500 if the right measures are not emplaced. Mr Melaye while contributing…

South African business confidence fell to the lowest level in almost two years in the first quarter, with more than two thirds of respondents dissatisfied with current conditions. A gauge measuring sentiment…

The Naira on Wednesday gained marginally against the dollar at the parallel market in Lagos, exchanging at N358 to the dollar. The News Agency of Nigeria reported that the naira had exchanged at N358.2…

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation to take over the operatorship of the entire Oil Mining Lease 11 from Shell Petroleum Development Company.According to a letter from State…

About N11.59 billion was remitted as independent revenue into the Consolidated Revenue Fund (CRF) in 2017, a report by the Fiscal Responsibility Commission (FRC) said.The 2017 Annual Reports and Audited Accounts of the…

The Central Bank of Nigeria (CBN) yesterday disclosed that the country’s Balance of Payment improved by a surplus of $2.80 million in the fourth quarter 2018, from $4.54 million recorded in the third quarter of same year.The CBN…

South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said. Deputy governor Kuben Naidoo said on Wednesday in…

The Economic Council of West African States (ECOWAS) says the regional bloc will adopt a single currency starting with selected states in 2020. The revelation was made on Monday at an ECOWAS seminar…

The National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to invest a minimum of 60 per cent of their funds on projects within Nigeria. The revised regulation on investment…

MTN Group Chief Executive Officer (CEO) Rob Shuter yesterday faulted the demand for $2 billion cash by the Office of the Attorney-General of the Federation (OAGF). It accused AGF Abubakar Malami, of…

The 11 electricity Distribution Companies (DisCos) owe Generation Companies (GenCos) N348.503 billion as outstanding debt for energy delivered to their networks in the first 10 months of 2018, Daily Trust reports. The level by the…

MTN Group reported 56.8 per cent growth in profit before tax for the financial year ended December 2018 and confirmed its plans to list on the Nigerian Stock Exchange latest June this year.The listing, according to the telecoms…

Nigeria potentially faces the largest financial liability in its history, and a hedge fund is coming to collect. The legal and political drama involves a deal between the country and a tiny natural gas…

...as firm misses coupon payment of N4.5bn...States' borrowing costs set to rise Visionscape’s bond payment default has some consequences for its guarantor, the Lagos State government, and companies…

The Central Bank of Nigeria (CBN) is targeting to have Microfinance Bank branches in all the 774 local governments of the country. The capital base of the new NIRSAL Microfinance Bank will initially be N5 billion…

Foreign and local economic experts have said President Muhammadu Buhari should put at the top of his second-term agenda the removal of petrol subsidy as well as the reduction of interest rates in a bid to stimulate investments…

The Central Bank of Nigeria on Tuesday announced the restrictions of sale of foreign exchange to importers of textiles and other clothing materials.The CBN Governor, Mr Godwin Emefiele, said this in Abuja during a meeting with…

The Federal Inland Revenue Service (FIRS), said it generated N12.62 trillion revenue from tax in the last three years. FIRS said this in a document on its achievements, a copy of which was made available to the…

Last week’s announcement of election results saw the All Progressives Congress (APC) of President Muhammadu Buhari retain the presidency, defeating the challenge from the Peoples Democratic Party (PDP) of Atiku…