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Business
SEC to begin regulation of crowdfunding activities by small businesses
Mary Uduk, acting director-general of the Securities and Exchange Commission (SEC), said the commission is working on a framework to regulate small businesses that use…
Slash data prices, minister orders telecom firms
The Minister of Communications, Dr Isa Pantami, has directed the Nigerian Communications Commission to compel telecommunications service providers to reduce the prices of data being offered subscribers.He also…
CBN opposes MTN over mobile banking transaction access
The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has kicked against MTN Nigeria’s plan to start charging its subscribers for Unstructured Supplementary Service Data access to banking services from Monday…
NCC stops MTN from charging customers N4 for USSD
The Federal Government on Sunday ordered the Nigerian Communications Commission (NCC) to halt the planned imposition of N4 per transaction charge subscribers by MTN. It was learnt…
Border closure: Ghana trade union calls for boycott of Nigerian goods
The Ghana Union of Traders Association (GUTA) has called for a boycott of goods imported from Nigeria. The union made the call following the closure of the Nigerian border. In August,…
$62bn PSC revenue: Shell battles FG over demand for $13.65bn
Shell Nigeria Exploration and Production Company Limited has a share of about $13.65bn in the $62bn which five international oil companies allegedly owe Nigeria following the 2018 Supreme Court’s judgment on…
Loan-to-Deposit Ratio: CBN to Impose Stiffer Sanctions on Banks
The Central Bank of Nigeria (CBN) has vowed to impose stiffer sanctions on any commercial and blacklist customers that flout its minimum loan-to-deposit ratio (LDR) policy that is focused on increasing lending…
Transcorp wins Afam power station with $343.6m
The National Council on Privatisation (NCP) has approved Transcorp Power Consortium as the preferred bidder for the Afam Electricity Generation Company (Afam Power Plc and Afam…
Seven banks fail CBN’s stress test
THE funding positions of seven commercial banks are inadequate, the result of Central Bank of Nigeria (CBN) stress test released on Thursday, has shown. The financial…
Oil, diamonds and nuclear power: Russia eyes Africa business
While Russia has traditionally focused on arms and grain exports to Africa, it is now looking to broaden its activities and influence.Here are four sectors likely to be discussed at the Russia-Africa Summit set…
Domino’s Pizza to exit foreign markets
Domino’s Pizza Group Plc, Britain’s biggest pizza delivery company, on Thursday said it would quit its loss-making international operations, sending shares higher in early trade. The…
FG plans new tax on Coke, Bigi, other soft drinks
Zainab Ahmed, the minister of finance, says the federal government is considering introducing excise duty on carbonated drinks. The minister made this known while addressing…
Seplat acquires Eland Oil & Gas for £382 million
Seplat Petroleum Development Company Plc has acquired Eland Oil & Gas Plc for a cash value of £382 million. Seplat, in a statement, noted that the boards of Seplat and Eland…
Dangote Group receives N120billion Bid for ‘Dangote Flour Mills’… as Shareholders applauds N24 per…
Shareholders of Dangote Flour Mills Plc (DFM), unanimously on Monday approved the acquisition of the company by Crown Flour Mills Limited, the Nigerian subsidiary of global food and…
Allow Only Legitimate Goods to Leave the Country, Igbo Traders Appeal to Buhari
Traders under the aegis of the South-East Amalgamated Markets Traders Association (SEAMATA) have appealed to President Muhammadu Buhari to allow only legitimate goods from the Nigerian markets to leave the…
Allow our goods to enter Nigeria – Ghana tells FG
Shirley Ayorkor Botchwey, Ghana’s foreign and regional integration minister, has asked the federal government to allow goods from her country into Nigeria. The…
Six modular refineries to commence operations – FG
The Federal government has disclosed that 6 modular refineries it licensed would soon commence operations in the country in fulfilment of President Muhammadu Buhari’s…
PFAs invests N1.03tn pension funds in banks
The Pension Funds Administrators increased the pension funds invested in the banking sector to N1.03tn as of the end of July.Figures obtained from the National Pension Commission revealed that this amounted to 11.03…
Niger Republic bans rice export to Nigeria
Niger Republic has banned the exportation of rice to Nigeria, following the closure of nation’s borders. At a press briefing in Abuja on Monday, Hameed Ali,…
Foreign Airlines Lobby Governors, Others For More Flight Services
In a time Nigerian carriers are shouting themselves hoarse to cut down on multiple designations to foreign airlines, the carriers are clandestinely lobbying the Ministry of Aviation for…
BREAKING: Customs orders complete border import, export ban
The Comptroller-General, Nigerian Customs Service, retried Col. Hameed Ali has insisted that all import and export of goods from the nation’s land borders remain banned until…
Scarcity of imported rice hits major markets, as dealers pack local rice in foreign bags
The latest Household survey carried out by Nairametrics Research showed that some rice dealers in major markets across Lagos State are reportedly packing…
IPMAN hails automation of downstream sector
The Independent Petroleum Marketers Association of Nigeria (IPMAN) Kano unit, has commended the launching of the automation of the downstream sector of the petroleum industry.The commendation is contained in a statement signed by…
World Bank, AfDB to give Ekiti $100 million loan to build airport, others
The Ekiti State Government has finally expressed its readiness to build an airport facility as part of efforts to attract investors to the state and make it the…