Business

The United Kingdom’s special prosecuting authority, the Serious Fraud Office, yesterday disclosed that two former executives of Afren Plc have been found guilty of a $300 million fraud which they were accused of committing…

There are reports that the current shakeup at Diamond Bank may force the current Group Managing Director, Uzoma Dozie to step down. Recall that the Bank in a notice to the NSE announced the resignation of several…

Tesla reported a net profit, positive cash flow and wider-than-expected margins for the latest quarter on Wednesday, delivering on Chief Executive Elon Musk’s promise to turn the electric carmaker profitable as higher…

Oluseyi Bickerseth, chairman of the board of Diamond Bank, and three other directors of the bank has resigned. The bank announced the resignation in a notice sent to the Nigerian Stock Exchange and signed by Uzoma Uja,…

The founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, yesterday said Nigeria’s economy is headed in the right direction, describing 2016 as a terrible year for the economy. Elumelu, who said this in an…

The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtors. According to the corporation, the “delinquent debtors”, whose names were released owed a total of N906 billion. “This…

Telecoms firm MTN is holding talks with Nigerian officials to find a “mutually acceptable solution” to the dispute over the alleged transfer of $8.1 billion, the firm said yesterday in a statement from Johannesburg. It said…

Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2018 to the Nigerian and London Stock Exchanges. A review of the results shows positive performance across all…

As international backlash grows over Saudi Arabia’s alleged involvement in the possible murder of a journalist, Silicon Valley faces a potentially unsettling fact: The kingdom is now the largest single funding…

Udo Udoma, minister of budget and national planning, says the federal government of Nigeria has issued the first gold refining licence, as a result of the economic recovery and growth plan. Speaking at the 24th Nigerian Economic…

Pension Fund Administrators (PFAs) have invested N1.49 trillion in Treasury Bills. The monthly National Pension Commission (PenCom) report released yesterday in Abuja by its spokesman, Peter Aghahowa, explained how the fund had been…

The Nigerian Telecommunications Commission (NCC) has licensed six infrastructure companies(infraco) for the deployment of broadband fiber across the 774 Local Government Areas of the country. The Executive Vice Chairman NCC,…

In another round of intervention, the Central Bank of Nigeria (CBN), on Friday, injected over 337 million dollars in the Inter-Bank Foreign Exchange (Forex) market. The CBN also intervened to the tune of 53.44 million Chinese Yuan in…

Nigeria moved up 10 places in the Global Competitiveness Report released by the World Economic Forum (WEF) on Wednesday. Africa’s largest economy moved from its 2017 spot of 125 to 115. According to the report, national…

The Federal Executive Council (FEC) presided over by President Muhammadu Buhari has approved six transaction parties to advise the federal government on the issuance of $2.78 billion Eurobonds and other securities at the…

The senate has approved the $2.786 billion loan request of President Muhammadu Buhari to finance the 2018 budget. The upper legislative chamber also approved $82.54 million to refinance the balance of $500 million…

No fewer than 10,000 petty traders in Ogun State, yesterday, accessed the Trader Moni collateral free loan of the Federal Government to expand their business activities.Speaking at the activation of ‘Trader Moni’ initiative at Sango Ota…

A new vista in the optimisation of the nation’s vast gas resources has been opened with the execution of a novel contract between the Nigerian National Petroleum Corporation (NNPC) and a private firm for the activation of virtual gas…

The consumer price index, which measures inflation, stood at 11.28% in September from 11.28% recorded in August on a year-on-year basis, data from the National Bureau of Statistics have shown. Going by the inflation report…

Godwin Emefiele, governor of the Central Bank of Nigeria, says the Buhari-led administration chose to save the naira instead of building reserves. Emefiele, who made this known to journalists on Sunday in Bali, Indonesia, said it is…

The dream of no fewer than 3,500 people to make easy cash through forex trading has become a nightmare after they were defrauded of their money estimated at N2bn. We learned that the victims deposited money in a binary options company, BTD…

•How court ordered him to pay Skye, Diamond Bank $144mn dollars Not a few people wonder how Dr. ABC Orjiako, the chairman of Seplat, manages to sleep at night and live at peace with himself with the huge debt hanging on his neck. Under…

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says more state-owned enterprises will be privatised. The governor made this known to journalists at a press conference to mark the end of the annual meetings of the…

The House of Representatives yesterday, said it has discovered N21 billion and $104.46 million undeclared revenue in two separate accounts outside the Treasury Single Account (TSA). The chairman, Ad-hoc Committee investigating the…