Business

Oil markets dropped by around one per cent in 2019’s first trading on Wednesday, pulled down by surging US output and concerns about an economic slowdown in 2019 as factory activity in China, the world’s biggest oil…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said that the country’s refineries had not undergone Turn Around Maintenance (TAM) for an aggregate of 42 years.…

Nigeria’s crude oil daily production is up by 9 per cent to about 2.09 million barrels. Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru said this maintained a line of…

The Central Bank of Nigeria (CBN) yesterday intervened in the interbank sector of the foreign Exchange market, injecting $210 million into the wholesale segment and other sectors of the market. Figures released by…

A popular Nigerian business news blog has been exposed while trying to blackmail one of the fastest growing banks recently.Information filtering in revealed that the business news blog and its publisher (names withheld) recently…

Customers  of Access Bank and Diamond will  use their Automatic Teller Machine, ATM, cards for transactions with other banks without the usual charge as from January 1, 2019.Users on queue at a bank’s ATMAccording to the…

The dollar was broadly steady in thin year-end trading on Monday with the Australian dollar leading gainers as tensions over a trade dispute between the United States and China faded on expectations of progress in…

The Federal Inland Revenue Service (FIRS) remitted about N4.63 trillion to the Federation Account between January and November this year, revenue collection figures submitted to the Federal Ministry of Finance have…

A Federal High Court sitting in Lagos has given its final sanctions to the scheme of Merger between the Cement Company of Northern Nigeria and BUA Group’s Kalambaina Cement Company. According to a statement by…

A study carried out on the operational status of the over 5,000 kilometres of pipeline network belonging to the Nigerian National Petroleum Corporation (NNPC) across the country, has revealed that the pipeline…

THE Nigerian Communications Commission (NCC) yesterday faulted Lagos lawyer Mr. Femi Falana’s (SAN) claim that the country was losing about N600 billion due to the failure of the commission to issue “contract award…

The Chief Executive Officer, Access Bank Plc, Mr Herbert Wigwe, in this interview, spoke on a lot of issues surrounding the proposed merger between Access Bank and Diamond Bank Plc as well as the benefits of the merger to…

*More Nigerians are paying taxes. The taxpayers’ data base has expanded from 20 million to 35 million, the Joint Tax Board (JTB) said yesterday through its Executive Secretary Oseni Elamah. Elamah said the feat was…

WhatsApp groups have become a common feature among WhatsApp users. From teams, groups of friends to extended and nuclear family members discussing pressing issues and planning the next outing, WhatsApp group chats…

The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled from the bourse. In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its…

The Nigerian National Petroleum Corporation,(NNPC) says it made a trading surplus of N9.85 billion in September 2018. The Corporation disclosed this in its monthly financial and operation report released in Abuja,…

Lagos State economy would grow by four per cent in 2019, the Governor, Akinwunmi Ambode, said. Ambode, who spoke at separate meetings on Tuesday in an address he delivered to the state’s foremost social clubs –…

The Nigerian Stock Exchange (NSE) opened for the week on Monday on a bullish trend following massive gains. The News Agency of Nigeria (NAN) reports that contrary to expectations, the All-Share Index closed…

The Central Bank of Nigeria (CBN) and MTN Nigeria Communications have resolved issues relating to the $8.1 billion foreign exchange remittances by the telecom giant, the apex bank announced yesterday. In a…

Forte Oil Plc Chairman Femi Otedola is set to sell his entire 75 per cent majority equity stake in the company in a deal estimated at about N25 billion. Forte Oil yesterday confirmed that Otedola is selling his…

IN spite of the increased aggressive liquidity mop up by  the Central Bank of Nigeria, CBN, cost of funds is expected to fall further this week in response to inflow of N1.36 trillion into the interbank money market. Last week,…

The CBN has spent $11.3 billion to intervene in the interbank foreign exchange market this year. This comprise of weekly injection of $210 million in the interbank market with $100 million allocated to the wholesale…

The Chairman of Forte Oil Plc, Mr Femi Otedola, has announced his decision to sell all his shares in the downstream business of the firm.The firm disclosed this on Monday while notifying the Nigerian Stock Exchange about the…

The management of Bankers Warehouse has called on the Financial and Economic Crimes Commission (EFCC) to release cash and its employees arrested at Enugu Airport on Thursday, Dec. 20. Bankers Warehouse is a…