Business

An economist, Prof. Pat Utomi, has said the likely retention of the Monetary Policy Rates for a while at 14 per cent was reasonable due to non-availability of pressure on the economy. Utomi told the News Agency of Nigeria on…

Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman The Federal Government has concessioned the Terminal ‘B’ Warri Old Port, in Delta State, to Ocean & Cargo Terminal Services Limited, in a bid to increase…

Mrs Zaniab Ahmed Minister of Finance Minister of Finance, Mrs Zainab Ahmed, says the Federal Government will increase the Value Added Tax on some items in the course of the year. Some of the items according to her, will include…

GROWTH INDUSTRY: CEO Brendan Kenned with marijuana 'tissue culture clones' at a Tilray’s Nanaimo headquarters. Photograph by Spencer Lowell for Fortune It’s just after 6, on a pitch-dark morning in December, and Brendan Kennedy is…

Aliko Dangote, the President of Dangote Group, has disclosed that Dangote Petroleum Refinery will create $11 billion per annum market for Nigerian crude. The Africa’s richest man said the Nigerian crude was specifically designed…

The Asset Management Corporation of Nigeria (AMCON)  is  seeking new investors to take over nationalised lender, Polaris Bank after elections next month. It is also taking stock of the bank’s assets ahead of the sale, its…

The House of Representatives on Tuesday rejected the recommendation of its committee that the Nigerian Ports Authority (NPA) reinstates its contract with Intels, a logistics maritime operator. The House said the company which…

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Tuesday said the bank’s policy to restrict importers of some 42 items from accessing foreign exchange was the right call of action. Emefiele made this known in…

Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele has warned the Peoples Democratic Party’s (PDP) presidential flag bearer’s suggestion the exchange rate should be free float is recipe for disaster that will surely…

The National Council of State has approved N27,000 as the minimum wage for the country. The council approved the amount at its meeting in Abuja on Tuesday. Following the Council’s approval, a minimum wage bill is expected to…

For the first time in 2019, the price of oil has risen from $60.00 to $62.70 per barrel as Organisation of Petroleum Exporting Countries, OPEC, intensifies efforts to withdraw excess oil from the volatile market. Specifically,…

…Refinery starts Q1, 2020 as CBN intervenes with N125bn The Central Bank of Nigeria (CBN) said at the weekend that it has supported Dangote’s $11 billion Refinery and Petrochemical plant with N125 billion as at the end of 2018…

The Central Bank of Nigeria (CBN) says it will start sourcing foreign exchange from Dangote Group as soon as the latter’s refinery and fertilizer projects begin operations. Speaking during the weekend during a tour of the…

*How He Forged Total Letter Head To Defraud GTB… He never knew that so large a fortune could have so short a lease. When he did, he had been mowed to rubble by the wheels of vanity. As you read, the truth dawns on Chima Anyaso,…

The Federal Government yesterday resolved to engage governors of the 36 states of the federation and the Council of State in a review of the nation’s federal allocation sharing formula.The review is part of demands by the…

Shareholders and Capital Market Operators yesterday expressed mixed reactions to moves by Mr Femi Otedola, Forte Oil Plc chairman, to buyout the company’s upstream and power assets. They said this in separate interviews with the…

Snoop Dogg's venture firm Casa Verde Capital mainly invests in cannabis-related companies US rapper Snoop Dogg has bought a stake in financial technology company Klarna Bank. The Swedish start-up, which was valued at $2.5bn…

Oluseye Opasanya (SAN), the receiver-manager of Arik Air, says local and foreign investors are showing a keen interest in the airline. Arik Air, which was overtaken by the Asset Management Corporation of Nigeria…

Femi Otedola, chairman of Forte Oil Plc, has expressed interest in buying assets in the company’s upstream and power generating businesses. The decision was made known in a notice sent to the Nigerian Stock Exchange (NSE),…

The consumer price index, (CPI) which measures inflation increased by 11.44 percent (year-on-year) in December 2018. According to the December 2018 CPI/Inflation report released by the National Bureau of…

The total pension assets under the Contributory Pension Scheme rose to N8.49tn as of the end of November 2018 financial period, latest figures obtained from the National Pension Commission on Tuesday revealed.The pension…

Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on proposed merger plans.Mr Victor Etuokwu, Access Bank Executive…

Deposit money banks in the country will not receive interest on loans linked to petrol subsidy taken by oil marketers between June 2017 and December 2018. Olufemi Adewole, executive secretary of Depot and…

Abubakar Bwari, the Minister of State, Mines and Steel Development, said that 11 companies have indicated interest to operate the Ajaokuta Steel Company. Mr Bwari announced this while giving a three-year account…