Business

Pizza Hut, a division of Yum! Brands (NYSE: YUM), yesterday announced the opening of its first restaurant in Nigeria with two more expected by the end of the year.Nigeria is often referred to as the “Giant of Africa”, a reference…

Access Bank has finally acquired Diamond Bank, TheCable can report. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria…

Co-founder of Access Bank, Herbert Wigwe, in an interview with Peace Hyde on My Worst Day, touches on a wide variety of issues including his experience as an entrepreneur, his worst day in business and advice for…

In order to avert gas flaring, the Green Energy International Ltd, operators of Otakikpo Marginal field  in OML 11, is now building a $12million Liquefied Petroleum (LPG) plant  in Ikuru Town in Rivers State that will be ready…

Leading Telecommunications company, MTN has paid another N165 billion out of the N330 negotiated fine imposed on it by the Nigerian Telecommunications Company (NCC). Executive Vice Chairman of the NCC, Prof Umar Garba…

The Central Bank of Nigeria (CBN) says the migration of the Federal Government Ministries, Departments and Agencies (MDAs) to the Treasury Single Account (TSA) has led to positive growth in the value and volume of transactions…

The International Monetary Fund (IMF) says the world’s debt has hit an all-time record of $184 trillion, an upward swing from the $182 trillion reported last week. The figure represents an average of $86,000 debt owed per…

The consumer price index that measures inflation rose to 11.28% in November. According to the November 2108 CPI/Inflation report released by the National Bureau of Statistics (NBS) on Friday, inflation increased…

The Federal Government yesterday filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni at a commercial court in London, United Kingdom in connection with a 2011 oilfield deal.The OPL 245 facility is also at the heart of…

Apple announced Thursday it will build a $1 billion campus in Texas as part of a nationwide expansion. The facility will be less than a mile from the tech giant’s existing facility in Austin and initially…

The UK Home Office’s decision to backtrack on the suspension of the Tier 1 Investor Visas, also known as golden visas, for new applicants is “no way to run an immigration policy”, according to the head of immigration at law…

A Nigerian judge adjourned yesterday a hearing over an $8.1 billion dispute between South African telecoms giant MTN and the central bank until Jan. 22. The dispute is over the transfer of $8.1 billion of funds…

The Federal Inland Revenue Service (FIRS) generated N5 trillion in the second week of this month. It said by the end of this year, it would have generated N5.3 trillion revenue. Its Executive Chairman, Mr. Tunde Fowler,…

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele, made good his threat to add other items to the list of those banned from the official exchange market. In a circular issued yesterday (but which curiously will…

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) has opposed the Federal Government’s decision to pay its N800 billion debts in tranches. In a statement made available to newsmen, DAPPMA…

As a result of its capability to jeopardise the efficacy of safety-net arrangements and prudential roles of the traditional banking system, such that its basic functions become only available to a smaller segment of…

The Central Bank of Nigeria (CBN), in continuation of its intervention in the foreign exchange market, has injected another sum of $210 million to boost sales in the inter-bank segment of the market. In the sales…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned against the sale of  the nation’s refineries. The workers promised to resist such move. Apparently reacting to a statement…

…as offer closes December 17 The Federal Government of Nigeria through the Debt Management Office (DMO) has launched the sale of the second N100 billion Sovereign Sukuk Bond as part of efforts to address Nigeria’s…

The non-oil sector of the economy continued its growth pattern in the third quarter of 2018, moving from 2.05% recorded in the second quarter to 2.32%. According to the third quarter gross domestic product…

…Says Nigeria’s external reserves now $43bn … Banks service customers accounts with N555bn in 9 months The Central Bank of Nigeria (CBN) has lamented over the non-performing of the N500 billion made available to support…

If you just made a nice windfall selling your property, or came into a fat inheritance, or just happen to have a large nest egg sitting around, here are some ideas from our inaugural survey of experts on where to park $1 million.…

TWO years after Ekiti State stopped Ministries, Departments and Agencies (MDAs) from patronising Zenith Bank, GT Bank and Ecobank, the government has lifted the embargo. Governor Kayode Fayemi announced the…

The naira has made some gain against the dollar after the Central Bank of Nigeria (CBN) began a special $15,000 disbursement to Bureau de change (BDC) operators for the Yuletide. It sold at the weekend for N366 to a…