Business

The total pension assets under the Contributory Pension Scheme rose to N8.49tn as of the end of November 2018 financial period, latest figures obtained from the National Pension Commission on Tuesday revealed.The pension…

Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on proposed merger plans.Mr Victor Etuokwu, Access Bank Executive…

Deposit money banks in the country will not receive interest on loans linked to petrol subsidy taken by oil marketers between June 2017 and December 2018. Olufemi Adewole, executive secretary of Depot and…

Abubakar Bwari, the Minister of State, Mines and Steel Development, said that 11 companies have indicated interest to operate the Ajaokuta Steel Company. Mr Bwari announced this while giving a three-year account…

The economies of Nigeria and other sub-Saharan Africa countries will be home to several of the world’s fastest-growing economies this year, the International Monetary Fund (IMF) said yesterday. The region, it said,…

Dangote Oil Refining Company (DORC) Limited says it has taken delivery of one of the major components of its refinery equipment; the regenerator for the Residual Fluid Catalytic cracker. Fluid catalytic cracking…

Managing Director/CEO of First Bank of Nigeria Adesola Adeduntan sees the merger plans between Access Bank and Diamond Bank Plc as a welcome development. The move in his view is part of a consolidation wave that…

A massive hike of 240 per cent in the prices of petrol and diesel goes into effect today in Zimbabwe. Petrol was selling for 1.32 dollars (N481) per litre before Sunday’s hike. Now, it will be sold at $3.31 per…

Becoming an entrepreneur extraordinaire is not mere lip service; it takes consistent effort and focus to grow from just being an entrepreneur with interest in a particular business to becoming a respected and renowned…

Chinese telecom giant Huawei has fired a Chinese employee who was arrested in Poland over espionage allegations, saying he had harmed the company’s global reputation, a state-run newspaper said Saturday.Wang Weijing was arrested…

For the second year in a row, the Lagos State economy received a major, unprecedented boost in the entertainment, hospitality and creative sectors in four weeks of the yuletide season, Commissioner for Tourism, Arts…

Former UN Ambassador Nikki Haley and US President Donald Trump’s daughter and adviser Ivanka are among possible US candidates to replace outgoing World Bank President Jim Yong Kim, The Financial Times reported…

Apple Inc. is planning to release three new iPhone models again this fall, including a successor to the struggling XR, the lower priced 2018 device with a liquid-crystal display that has fallen short of Apple’s sales…

The $2.5 billion Ibom Deep Seaport, a public-private partnership (PPP) project would come to reality on or before April 2019. Speaking at the High-Level Stakeholders Retreat on Public-Private Partnership (PPP),…

ONE of Nigeria’s leading telecoms company, 9mobile on Thursday announced that it has made progress without assistance from Mr Adrian wood or his Teleology Holdings. According to a statement made available to…

World Bank has put the estimated growth rate for Nigeria’s economy in 2019 at 2.2 percent with its forecast oil price at average $67 per barrel for the current year and next year, down $2 from its projections last June. The bank…

The Lagos Inland Revenue Service (LIRS) has directed employers to deduct capital gains tax (CGT) from any sum paid to employees on termination of their services. According to a notice released by the tax agency,…

President Muhammadu Buhari has confirmed the readiness of the Nigerian government to enter into “negotiations for salary review” for all the workers who are already earning above the proposed minimum wage of N30,000…

The TraderMoni scheme of the Federal Government has generated a significant amount of buzz and national conversation: from those who laud its impact, and those who view it as politically motivated. TraderMoni is one…

Nigeria’s total debt now stands at N22.43tn, data obtained from the Debt Management Office have shown. According to the DMO, the nation’s total debt as of September 30, 2018, stood at N22.43tn.As of June 30, 2015, the country’s…

The never-ending twists and turns involving beleaguered GSM operator 9Mobile have taken another turn as Teleology Holdings Limited (run by Adrian Wood) has pulled out from Teleology Nigeria (the consortium of…

Aliko Dangote is Africa’s richest man for the eighth consecutive time although his wealth dropped by $2 billion from $12.2 billion in January 2018 to $10 billion in 2019. This is according to Forbes’ Africa …

Jim Yong Kim, outgoing president of the World Bank, will join Global Infrastructure Partners (GIP), a New York-based private investment fund, as a partner and vice chairman, Reuters reports. GIP, which is led by…

No fewer than 120, 000 rice farmers in Kano State would benefit from the Federal Government’s Anchor Borrower programme for this year’s dry season farming. The state Chairman of the Rice Farmers Association of…