Business

The Central Bank of Nigeria has withdrawn the operating license of Skye Bank. Umar Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), made this known to journalists on Friday. More to follow…

The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu…

Online retail colossus Amazon is gaining ground in the US digital advertising market as the dominance of Google and Facebook erodes, according to an eMarketer forecast released on Wednesday. The market tracker predicted that Amazon…

The Central Bank of Nigeria (CBN) is reviewing new evidence from four banks and MTN Nigeria over the sanctions slammed on them by the regulator, it was learnt yesterday. The banks – Standard Chartered Bank, Stanbic-IBTC, Citibank and…

World’s leading carbonated soft drink maker, Coca-Cola Co., said it has developed an interest in the cannabis drinks market and wants to take advantage of it with hopes of supplementing its declining sales. This could present an immense…

At least 1,000 indigenous companies have submitted applications for various railway contracts in the 2018 fiscal year, the Nigerian Railway Corporation has said. The contractors prospecting for different railway projects were unveiled on…

The Federal Government of Nigeria has announced the suspension of the national carrier project. The decision was disclosed by the Minister of State for Aviation, Senator Hadi Sirika at his office in Abuja The Minister who said the…

The sale of 21 percent  shares  of the Federal Government in the Nigerian  Security Printing and Minting (NSPM) Plc to the Central Bank of Nigeria (CBN) will contribute over N17 billion to the national treasury, Director General of the…

Fresh facts have emerged on why the sale of 9mobile still lingers despite the declaration of Teleology Holdings Limited as the preferred bidder by Barclays Africa, the financial adviser handling the sale. The Executive Vice Chairman…

The Nigerian National Petroleum Corporation (NNPC) has explained why it has resorted to contractor-financing of its pipeline and other facilities development in recent times. Delivering the keynote speech at the Nigerian…

The Central Bank of Nigeria (CBN) has again intervened in the inter-bank Foreign Exchange Market to the tune of $210 million. According to the figures obtained from the CBN on Tuesday, September 18, 2018, the Bank offered $100million…

Oyo State Government is not leaving any stone unturned in its aggressive tax drive as it has continued to shut down major business outfits that are defaulting in the payment of taxes. Among the companies shut down today is Obasanjo…

A 26-year-old Nigerian, credited for building the world’s first gaming robot, has just become the highest paid in the field of Robotic engineering. Silas Adekunle achieved this feat after signing a new deal with the world’s…

The Coca-Cola Company is said to be in "serious talks" with Aurora Cannabis Inc., on the possibility of developing marijuana-infused beverages. According to BNN Bloomberg, Coca-Cola, the world’s largest beverage company, is looking into…

There are 7,100 multi-millionaires living in Africa, each with net assets of $10 million or more. There are over 320 centi-millionaires, each with net assets of $100 million or more; and 24 billionaires each with net assets of $1 billion…

The Central Bank of Nigeria (CBN) says banks will pay a fine of N10,000 for every money transfer that exceeds four minutes. The apex bank made this known in a circular, ‘Circular on the regulation on instant inter-bank electronic…

Apple has a new range of iPhone models for 2018 and has announced them during a special event held at its futuristic Apple Campus in Cupertino, California. Rumors were rampant ahead of the event, telling us that we should expect three…

The Nigeria Labour Congress (NLC) has called on the Federal Government to ensure that the telecommunication giant, MTN Nigeria, complies with its directive and pay without delay, the $2 billion tax arrears as well as the $8.13 billion…

Following the Presidency’s report that HSBC aided past Nigerian leaders to loot the country, the Economic and Financial Crimes Commission, EFCC, Sunday agreed with Presidency’s statement and vowed to repatriate all stole money. In a…

Officials of the Economic and Financial Crimes Commission (EFCC) stormed the headquarters of Standard Chartered Bank in Lagos on Friday. A source at the bank confirmed this to TheCable, saying some customers were escorted out of the…

Nigeria’s inflation has risen for the first since it started its decline in January 2017. This is according to the latest inflation report published by the National Bureau of Statistics on Friday. According to the report, the rate…

Nigeria’s leading carrier, Air Peace, friday signed an agreement with Boeing for the acquisition of 10 new 737 MAX 8 aircraft, making history as the first airline in West Africa to add the equipment to its fleet. Air Peace already…

The Federal Government has said it doesn’t want MTN Nigeria to die but that it must abide by the rules and regulations guiding business transactions in the country. This is coming just as Standard Chartered Bank Nigeria Limited said…

Apple unveiled new versions of the iPhone on Wednesday at its headquarters in Cupertino, California. It is customary for the company to announce new versions of its products in September. The new iPhone Xr and Xs will be sold at…