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Business
Is One of the World’s Biggest Lawsuits Built on a Sham?
The oilfield fires of the Niger Delta burn day and night. Metal pipes snake through the swampland, spewing flames so vast they cast the sky in apocalyptic orange. Southern Nigeria sits atop a bubbling stew of oil…
You won’t believe how much Jim Ovia made in just one day!
The Chairman of Zenith Bank Plc, Jim Ovia, is an astute businessman who has, over the years, successfully built many enterprises that can stand the test of time. His numerous…
Crude-for-fuel deal on till 2023, says NNPC
THE crude-for-fuel swap deal will continue because the refineries are not functional, the Nigerian National Petroleum Corporation (NNPC), explained on Monday. Group Managing Director (GMD) Mele…
I’ll pay my N537m debt in 12 hours – Duke begs court
A former Cross River State Governor Donald Duke on Monday told a Federal High Court in Lagos that he would pay his N537, 334,360.77 debts to Asset Management Corporation of Nigeria…
We are ready to start seizing Nigeria’s assets – P&ID
P&ID Ltd, the Irish firm that was awarded $9.6 billion in arbitration against Nigeria, says it will continue its efforts to identify and seize Nigerian assets “to satisfy the debt”.…
$9.6bn: 2 Nigerians, 3 Foreigners To Benefit From Fine (See Names)
Documents accessed by LEADERSHIP on the P&ID deal that has caused apprehension in Nigeria have showed that two Nigerians and three foreigners would benefit from the $9.6…
N100m concession agreement: Malami moves to avert another debacle
Attorney General and Minister of Justice, Mr Abubakar Malami (SAN), has advised against a summary termination of the $100 million concession agreement between Transmission Company of Nigeria (TCN) and Phase3 Telecom…
12 banks garner N24.3trn deposit in six months
Despite a harsh operating environment occasioned by the sluggish economy and increasing competition from Financial Technology (FinTech) companies, 12 Deposit Money Banks (DMBs) in the country raked in a total of N24.349…
NNPC Reports $226m Oil Revenue Drop in June
Earnings from oil and gas production in June were down by 44.65 per cent, indicating a value reduction of about $226.38 million between May and June 2019, data from the Nigerian National Petroleum Corporation (NNPC)…
Fidelity Bank Posts Double-digit Half-year Earnings, Profitability Growth
........Profits soar by 16% to N15.1bn .........Gross earnings hit N103.7bnDespite the country’s challenging and fiercely competitive business environment, Fidelity Bank Plc delivered a solid financial…
Benefits of CBN’s proposed policy on loan defaulters – Experts
Financial experts say Central Bank of Nigeria’s (CBN) proposed policy that will ensure loan defaulters forfeit their deposits in others banks is commendable. They said this in…
Warri port reaping from Executive Order — NPA
There is a tremendous improvement as regards ship handling operations and an increase in ship traffic and revenue, such that over 200 vessels now berth in Delta Ports, Warri.The development, brought about by a synergy…
No deadline for returning bad notes to banks – CBN
The Central Bank of Nigeria has said that the general public can return mutilated bank notes to their banks after the September 2 deadline earlier reported.It stated that banks would continue to accept the bad notes…
$9b Judgment: P&ID chief names Yar’Adua, Lukman, NNPC GMD, 15 others behind contract
•Says I wrote Jonathan, Diezani, Egbogah •P&ID: Jonathan government opted for arbitration, appointed Bayo Ojo to represent FG THOSE WHO KNEW ABOUT THE CONTRACT The late…
Take all bad Naira notes to bank for new ones on Monday – CBN tells Nigerians
The Central Bank of Nigeria, CBN, has told Nigerians to take all their torn and mutilated Naira notes to the banks on Monday in exchange for clean naira notes. The deadline for such…
Process passport in 48 hours – FG orders Immigration
The Federal Government has ordered the Nigeria Immigration Service to ensure that passports are issued to Nigerians within 48 hours after application.The Minister of Interior, Rauf Aregbesola, on Friday, decried the…
AMCON Debt: Court orders takeover of SEPLAT Petroleum chairman’s assets
The Federal High Court in Abuja has granted the Asset Management Corporation of Nigeria (AMCON) application to take over the assets of the Chairman of SEPLAT Petroleum Development Company, Ambrosie Orjiako.The…
Airtel overtakes Globacom to become Nigeria’s second largest network
Airtel Nigeria is now the second-largest telecommunications service provider in the country. According to the July subscriber data released by the Nigerian Communications Commission…
Uber, Jumia, Netflix…. businesses that may be affected by FIRS’ new VAT policy
Businesses operating in Nigeria’s internet space are preparing to add value-added tax (VAT) to their cost of doing business. Babatunde Fowler, executive chairman of the Federal Inland…
Brexit: Banks to move €1.3 trillion assets to eurozone – ECB
European Central Bank official has revealed that about 1.3 trillion euros ($1.44 trillion) worth of assets will be moved from London to the eurozone due to Brexit, according to document.…
Border closure to save Nigeria $400m – Rice growers
The Rice Processors Association of Nigeria on Thursday backed the Federal Government’s closure of the land border with Benin Republic and other neighbouring countries.It said the move was needed to address the rising…
N3.4bn cassava bread loan won’t be written-off – BoI tells Bakers’ Union
The Federal Government will not write-off the loan given to members of the Master Bakers Association of Nigeria under the N3.4bn Cassava Bread Intervention Fund.The Cassava Bread Fund was created by the Federal…
Prudent Energy tenders another take-over offer for Forte Oil
Barely three months after local oil firm, Prudent Energy Services Limited bought Forte Oil from the Nigerian billionaire, Femi Otedola, the company is planning to make another round of…
JUST IN: Processors peg bag of rice at N15,000
In order to show support for government’s decision to close the country’s border at Seme to rice smuggling, rice processors in Nigeria have pegged the retail price of rice at not more…