Browsing Category
Business
UK court rejects registration of Ogoni suit judgment against Shell
A United Kingdom court on Thursday, December 5, 2019 dismissed the application by some leaders of Ejamah Ebubu community in Ogoniland to register the judgement of a…
Lagos okays N250m for research, innovation council
THE Lagos State government on Thursday said it has voted N250million for its agency for speeding up innovation, the Lagos State Science, Reasearh and Innovation…
South African Airways secures state-led rescue
South African Airways was placed under a state-led rescue plan on Thursday as part of a massive restructuring following a costly week-long strike last month.Thousands of South African Airways (SAA) staff walked out…
Stanbic IBTC attracts $1.6b capital Inflow in Q3, says NBS
STANBIC IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has emerged as the financial institution that attracted the highest amount of…
World’s Biggest Oil-Refining Tower Completes 11,000-Mile Voyage
It’s the length of a soccer field and the weight of 320 large elephants, but the world’s biggest oil-refining tower has finally reached its destination -- Nigeria -- after an 11,000 mile voyage.The…
Banks’ loans to private sector now N16.25trn
The value of credits allocated to the private sector by Nigerian banks hit N16.25 trillion as at the third quarter of 2019.Data on Electronic Payment Channels in the Nigeria Banking Sector released yesterday by…
Larry Page, Sergey Grin Google co-founders resign from Alphabet
Google co-founders Larry Page and Sergey Brin, have decided to step aside from control of their parent company, Alphabet. They will however remain on the board. In a joint…
Accugas moves against Nigeria, issues notice of default over Calabar GenCo
President Muhammadu Buhari’s bid to raise foreign loans for infrastructural projects is already in jeopardy as the gas supply agreement (GSA) between the…
U.S. vows 100% tariffs on French Champagne, cheese, handbags over digital tax
The U.S. government on Monday said it may slap punitive duties of up to 100% on $2.4 billion in imports from France of Champagne, handbags, cheese and other products, after concluding that France's new…
Nigeria’s fuel consumption down by 30% since border closure – Buhari
President Muhammadu Buhari says domestic fuel consumption in Nigeria has dropped by 30 percent since his administration took the decision to close…
Border closure could not have come at a better time – Stallion Group
Anant Badjatya, the agent of Stallion Group in Nigeria, says the decision to close the country’s land borders could not have come at a better time.…
Nigerian court orders detention of Emirates plane over $22K debt
A Federal High Court sitting in Lagos has ordered the detention in Lagos of an Airbus aircraft belonging to Emirates Airline over N8.1 million($22,103) judgment debt. The…
TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution
TAJBank, Nigeria’s second non-interest financial institution, has announced the launch of its services at its state of the art facility in Abuja…
Bank customers to present tax card from next month
EVIDENCE of tax payment will be a condition for operating a bank account from January, according to the Financial bill passed by the National…
N5tr debt: Senate backs AMCON on recovery plan
The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, has declared that the Senate will support the Asset Management…
$60 billion forex cash keeps Naira stable for 29 months – Emefiele
The $60 billion inflows from the Investors’ and Exporters’ Foreign Exchange (I&E Forex) Window has contributed to the sustained stability of the naira against…
Despite Decline in Two Quarters, Capital Importation Surges 61% in 3 Years
Notwithstanding the recent decline, the National Bureau of Statistics says capital importation into Nigeria has significantly risen in the last three years with nine months accrued value in 2019 surpassing…
Lawyer tells AMCON to declare VIP debtors bankrupt
A legal consultant and Senior Partner, Olaniwun Ajayi-LP, Mr. Muyiwa Balogun, has challenged the Asset Management Corporation of Nigeria (AMCON) and Judges of the Federal High…
Nigeria’s financial system getting stronger, says Emefiele
THE Nigerian financial system is getting stronger and more resilient with capital buffers and liquidity in the sector improving, the Central Bank of Nigeria (CBN) Governor,…
CitiBank names Akin Dawodu cluster Head for Sub Saharan Africa
CitiBank has appointed Akin Dawodu as Cluster Head for Sub Saharan Africa (SSA), effective immediately. Akin will report to Atiq Rehman, EMEA Emerging Markets Cluster…
Nigeria’s pension assets hit N9.58 trillion
The National Pension Commission (PenCom) says its assets in the contributory pension scheme (CPS) have grown to N9.58 trillion. Aisha Dahir-Umar, acting director-general of…
Telcos ask banks to pay or get disconnected from USSD service
Telecommunications companies say they may stop offering Unstructured Supplementary Service Data (USSD) services to financial institutions for free. The companies,…
At 59.3 Point, Manufacturing Index Rises for 32nd Consecutive Month
The Manufacturing Purchasing Managers’ Index (PMI) in the month of November stood at 59.3 index points, indicating expansion in the manufacturing sector for the 32nd consecutive month.The index grew at a…
Steel Operators Hail Border Closure, Say Smuggling Stifling Sector
Steel sector operators have applauded the recent closure of Nigeria’s land borders, saying until the federal government took the action, the sector was on the brink of extinction.They urged the federal government…