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China’s car import move tickles Nigerian market
The Nigerian automotive sector was yet to recover from the defusal to assent to the Auto Policy Bill by President Muhammadu Buhari as news filtered in about plans by China to export used vehicles to African countries,…
Banks Jostle to Unlock N1.5tn for Real Sector Lending
Commercial banks are positioning themselves to attract more customers in the small business segment of the market as the deadline given by the Central Bank of Nigeria (CBN) for the financial institutions to maintain…
N1.8bn debt: Court endorses AMCON, Kola Abiola’s terms of settlement
A Federal High Court in Ikoyi, Lagos, Southwest Nigeria has endorsed terms of settlement filed before it by Asset Management Corporation of Nigeria (AMCON) and the son of Moshood Abiola,…
$17 million fraud rocks Jumia as company battles with several US lawsuit
Jumia is currently involved in some issues which arethreatening its corporate existence. The company is facing class-action lawsuits in the United States as a member of its staff…
Ex-Governor & Presidential Aspirant Donald Duke Loses Property To AMCON Over N537m Debt
The truth dawned on perennial Presidential aspirant, Donald Duke, in a moment of profound terror. He finally understands that status and affluence are ephemeral like the early dew before…
Banks face U.S. sanctions over North Korea, Iran deals
HEAVY fines await banks processing transactions for North Korea and Iran, Adjunct Senior Fellow, Energy, Economics and Security, Centre for a New America Security (CNAS), Peter Harrell,…
Court stops Indians from taking over three ‘Nigerian firms’
A Federal High Court in Lagos on Wednesday restrained three Indians from taking over three firms – Bolawole Enterprises Nigeria Ltd, Lesag Nigeria Ltd and Intermanagement Nigeria Ltd,…
Dwayne Johnson tops Forbes highest-paid actors list
Dwayne Johnson popularly known as “the rock” as the highest-paid actor for 2018, according to the latest annual rankings from Forbes. He climbed from his number two placing last year – despite…
BREAKING: Stock Exchange delists two banks
Authorities at the Nigerian Stock Exchange (NSE) have just delisted two defunct banks- Skye Bank Plc and Fortis Microfinance Bank Plc, formally closing any window of shares exchange for…
Dangote Cement overtakes MTN as NSE’s biggest firm
Dangote Cement Plc has regained its position as the biggest listed firm on the Nigerian Stock Exchange as sell-offs were witnessed in MTN Nigeria Communication Plc’s shares on Tuesday.On Monday, MTN Nigeria…
Davido, Coldstone, Obasanjo Farms… FIRS publishes 19,901 accounts ‘owing’ taxes
Accounts belonging to Iyiola Omisore and Obasanjo Farms are some of the accounts that have been placed under lien for owing taxes. In a list published on Monday, the Federal Inland…
Central bank orders microfinance banks to disburse higher, lower banknotes together
The Central Bank of Nigeria (CBN) has mandated the microfinance banks (MFBs) to mix the lower and higher Naira notes while disbursing it to customers. This is contained in…
Corruption: World Bank blacklists six Chinese firms in Nigeria
The World Bank has blacklisted six Chinese companies currently operating in Nigeria over alleged fraud and corruption.The companies, according to an announcement published on the World Bank’s website, are CCECC…
DisCos reject move by FG to take over power firms
The Association of Nigerian Electricity Distributors (ANED) has rejected reported plans by the federal government to repossess the distribution companies (DisCos). It had earlier been…
More items ‘ll be denied FOREX, says CBN Governor
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Monday said more items will soon be denied foreign exchange from government institutions and Nigeria…
15 Firms Win 2019/2020 NNPC DSDP Contract
The Nigerian National Petroleum Coeporation (NNPC) says 15 companies have emerged winners of the Direct Sales and Direct Purchase (DSDP) of Crude oil contract for 2019/2020.The corporation disclosed this in a statement…
Buhari’s Order on Food Import Aimed at Diversifying Forex – Presidency
The presidency at the weekend explained that last Tuesday’s disclosure by President Muhammadu Buhari that he had instructed the Central Bank of Nigeria (CBN) not to provide forex for food import was a deliberate effort to…
With Yar’Adua on Sick Bed, Two UK Paper Coys Outsmarted Nigeria
•May get away with 20% of external reserves, 2.5% GDP •My hands are clean, says Jonathan The several months late President Umaru Yar’Adua spent on the sick bed prior to his…
10 things to know about your bank account
Your bank account is one of the most important things to understand about your personal finances. Without a bank account, it is difficult to be paid a salary or to budget effectively.You need to know the essentials…
JUST IN: Inflation Drops to 11.08%
The Consumer Price Index (CPI) which measures inflation dropped to 11.08 per cent (year-on-year) in July compared to 11.22 per cent in June, according to the National Bureau of Statistics (NBS).The bureau stated that the…
15 ships at Lagos ports with petroleum products
Fifteen ships conveying petroleum products and other commodities have berthed at Apapa and Tin-Can Island ports in Lagos, the Nigerian Ports Authority (NPA) has said. Excerpts from…
Lending: Banks race to beat CBN’s deadline
BANKS are in a race to beat the September 30 deadline given by Central Bank of Nigeria (CBN) to implement the 60 per cent minimum Loan to Deposit Ratio (LDR) policy. They…
Why Gokada should be worried about shutdown
Gokada’s temporary closure has raised concerns among Nigerians and stakeholders alike. Many of those who lamented the closure said the timing was wrong. Nairametrics had earlier …
FG’ll pay ‘failed investors’ N736bn to repossess Discos
•11 distribution firms declared technically insolvent • Review power sale but don’t politicise exercise —ECANThe Federal Government is considering repossession of 10 electricity distribution…