Browsing Category
Business
Customs slams N165,000 Duty on traveler for designer bag
The Nigeria Customs Service (NCS) has insisted that it followed the law when its operatives recently demanded that an arriving passenger at the Nnamdi Azikiwe International Airport Abuja, with a N570,467 worth of…
Bank CEOs Disclaim MTN over USSD Transactions Charges
Chief Executive Officers (CEOs) of commercial banks have distanced themselves from the moves by MTN Nigeria to impose charges on Unstructured Supplementary Service Data (USSD) transactions.The bank chief executives…
NNPC remits N729.3b, N602.3b to federation account, JV
The Nigerian National Petroleum corporation (NNPC) has said that it remitted N729.3billion and N602.30billion to the Federation Accounts and Joint Ventures (JV)…
Consider Sale of Public Enterprises to Fund 2020 Budget – BPE Tells FG
The Director General of the Bureau of Public Enterprises (BPE), Mr.Alex Okoh, has advised the federal government to consider the privatisation of federal government-owned enterprises to fund the N10.33 trillion…
Chinese outnumber Americans on rich list for first time ever
The Swiss bank, Credit Suisse, has stated in its Global Wealth Report 2019 that, for the first time, the number of rich Chinese people has surpassed that of wealthy Americans…
SEC probes Lafarge Africa over alleged abuses
NIGERIA’s apex capital market regulator, Securities and Exchange Commission (SEC), has launched investigations into activities at Lafarge Africa Plc over allegations of poor…
Stress test: Banks in secret merger talks
Merger and acquisition talks are quietly going on in the banking industry, especially among the seven deposit money banks (DMBs) that failed the mandatory stress test on…
AMCON to recover over N5 trillion debt with judicial intervention
The Asset Management Corporation of Nigeria (AMCON) is set to seek judicial intervention to recover over N5 trillion debt in the hands of few Nigerians. Managing…
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…