Business

The United States/ Iran face-off has resulted in oil sanction, which in the long run may improve the earnings of many OPEC member states, including Nigeria, writes AKINOLA AJIBADE Penultimate week, the United States (US)…

The Federal Government has raised funds from its external debt requirements to finance the 2018 budget at a considerably lower cost than projected. Following the successful pricing, Minister of Finance Mrs Zainab Ahmed…

Nigeria will increase its oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said yesterday. The country will also raise condensate…

The Federal High Court in Lagos has ordered the final forfeiture of the sums of N1,250,000,000; $327,132.35, £167.85 and €157.91 recovered by the Economic and Financial Crimes Commission (EFCC) to the Federal Government.…

In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, injected the sum of $210 million in the inter-bank foreign exchange…

Trading house Aiteo, which had prospered under Goodluck Jonathan’s tenure, has recently had to start making hefty repayments to creditors that had helped the firm buy the giant OML 29. Aiteo founder and CEO, Nigerian…

Access Bank on Monday denied having an agreement to take over assets of Diamond Bank Nigeria. A national daily reported that Access Bank was set to add “Diamond Bank’s portfolio to its assets in the next few months”. But…

Teleology Holdings Limited has finally taken over 9mobile. This is coming 11 months after the company made it to the top five companies making a bid to take over the telecommunications company. In a statement…

Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual “Singles Day” shopping frenzy, but growth slowed from previous years. The world’s biggest 24-hour shopping…

Amidst heightened political tension in the Nigerian economy, the total transactions done by foreign investors on the floor of the Nigerian Stock Exchange (NSE) rose by 26.53 per cent or N207.85 billion in the third quarter…

MTN  long running battles with the Central Bank of Nigeria (CBN) and office of the Attorney General of the Federation (AGF) may be close to resolution. The telecoms giant, the apex bank, and four commercial banks are scheduled…

Access Bank is set to add Diamond Bank’s portfolio to its assets in the next  few months, The Nation has learnt. Talks on the acquisition are on, according to sources,  who  said the fusion is set for  the first quarter of…

Federal Inland Revenue Service, FIRS, yesterday disclosed that it had recorded a remarkable performance in terms of revenue collection this year, adding that, as at October 31st, it recorded a collection of N4.3trillion.Speaking at…

Tony Elumelu, chairman of Heirs Holdings, says if local investors are burnt in business, foreign investors would not come in to invest.  Speaking on the second presidential panel at the just concluded Africa…

The Nigerian Union of Traders Association Ghana (NUTAG), has commended President Mohammadu Buhari-led government, ECOWAS, Ghanaian authority and others for their intervention in the reopening of Nigerians shops in Ghana.…

Over 6,000 jobs and N949 billion of depositors’ funds have been saved by the Central Bank of Nigeria’s (CBN) decision to revoke Skye Bank’s operating license and setting up a bridge bank. The was disclosed by the…

The South African Reserve Bank (SARB) yesterday claimed that the financial dispute between the Nigerian authorities and telecommunications giant, MTN Group Limited, could potentially destabilise the country’s financial system.…

The United States is now the world’s biggest crude oil producer, pushing Russia and Saudi Arabia to the back seat.In the week ending November, the U.S. crude production hit a whopping 11.6 million bpd, according to Energy…

Aliko Dangote, president of Dangote Group, says the conglomerate’s revenue base will hit $30 billion by 2020 — a feat he would have considered impossible 10 years ago. Speaking at the first ever Africa …

Vice-President Yemi Osinbajo says there is a need to reform Nigerian banks for them to meet up with the inevitability of the Fintech revolution. Speaking at the ongoing first ever Africa Investment Forum in Johannesburg on…

The Central Bank of Nigeria (CBN) has warned commercial banks to guard against emerging risks in the financial system, saying the sector’s resilience appears to be receding. The Deputy Governor, Corporate Service Department of…

The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that it recorded crude oil and gas export sale of $470 million in August 2018, indicating an upsurge of about $78 million in relation to July oil and gas export…

The Lagos Chamber of Commerce and Industry (LCCI) has raised the alarm that high excise duties on locally-produced goods and challenges of exporting made-in-Nigeria products, as well as the inaccessibility of the Lagos ports…

President Muhammadu Buhari yesterday said about N24.7 billion was being saved monthly as a result of the implementation of Treasury Single Accounts (TSA) scheme, the Integrated Payroll and Personnel Information System (IPPIS)…