Business

Electricity distribution companies (DisCos) are seeking Federal Government’s interventions to make their operations and service delivery efficient, safe and profitable. Eko Electricity Distribution Company (EKEDC)…

Use your credit card to buy a taco, a beer or a taxi ride, and it’s very likely the receipt screen will solicit a tip. A few years ago, that same option arrived on airlines, to the chagrin of passengers who remember when most food…

Automated teller machines (ATM) are the most preferred form of electronic banking in Nigeria. This is according to data provided by the Nigerian Interbank Settlement System (NIBSS). Between January and…

The results are out and this year NIGERIA led the way with the maximum number of deals. As per WeeTracker’s 2018 Annual Report on Venture Investments in Africa, this West African country stood first with 136 deals…

The New Year opened on a pleasant note for the Central Bank of Nigeria (CBN) as the nation’s foreign reserves stood at $43,075,740,908 on Friday, making it the highest opening balance in the last six years.…

It was Saturday night on the 15th of December, 2018, and the hall was filled with fans of all ages. The crowd was in a state of frenzy, having been wowed by some of Nigeria’s biggest artistes of 2018. Among those who…

The Central Bank of Nigeria on Friday made its first intervention in the inter-bank sector of the Foreign Exchange market for 2019 with a sum of $210m. The CBN Director, Corporate Communications, Isaac Okorafor,…

The management of MRS Oil Nigeria Limited on Friday announced that it has changed the location of its corporate headquarters in Lagos. The new development was communicated to the Nigerian Stock Exchange (NSE) in a…

Chinese telecom giant Huawei has demoted two employees for posting a New Year greeting on the company’s official Twitter account using an iPhone made by arch-rival Apple, an internal memo showed. Huawei dislodged…

The Corporate Affairs Commission (CAC) has extended the 50% discount on business name registration till March 31. In a statement released on its Twitter page, the commission said it took the decision to deepen…

The National Bureau of Statistics (NBS) says the revenue generated from Value Added Tax (VAT) from sectoral distribution from first to third quarters of 2018 was N808 billion.VAT is a consumption tax placed on a product whenever…

The plunge in Apple Inc’s share price will cause new pain for Warren Buffett’s Berkshire Hathaway Inc, after the conglomerate suffered a big quarterly decline in its net worth that will hit its bottom line.…

In a notice sent to the Nigerian Stock Exchange (NSE) and the general investing public, fertilizer producer, Notore Chemical Industries Plc has announced some changes to its board of directors. Chief Odoliyi…

Nigerians may have an immense love for the cinemas, going by statistics from the Cinema Exhibitors Association of Nigeria (CEAN) website. The statistics show Nigerians may have spent over N600 million at the…

The task of determining the daily consumption and subsidy on petroleum products has been taken over by the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).The…

Forbes, an American business magazine, has ranked Nigeria as the 110th best country in the world for business. The magazine said it compiled the list by rating 161 countries on 15 factors: property rights,…

THE Federal Government generated over $2 billion from the renewal of oil block licences, Minister of State for Petroleum Resouces, Ibe Kachikwu, has said.Kachikwu, who noted that the funds will be used to implement the nation’s…

“Congratulations,” said the voice at the other end of the call. It was the fifth call Nere Teriba received in less than 10 minutes. There are also messages on her phone, which she plans to read much later. They…

Oil markets dropped by around one per cent in 2019’s first trading on Wednesday, pulled down by surging US output and concerns about an economic slowdown in 2019 as factory activity in China, the world’s biggest oil…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said that the country’s refineries had not undergone Turn Around Maintenance (TAM) for an aggregate of 42 years.…

Nigeria’s crude oil daily production is up by 9 per cent to about 2.09 million barrels. Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru said this maintained a line of…

The Central Bank of Nigeria (CBN) yesterday intervened in the interbank sector of the foreign Exchange market, injecting $210 million into the wholesale segment and other sectors of the market. Figures released by…

A popular Nigerian business news blog has been exposed while trying to blackmail one of the fastest growing banks recently.Information filtering in revealed that the business news blog and its publisher (names withheld) recently…

Customers  of Access Bank and Diamond will  use their Automatic Teller Machine, ATM, cards for transactions with other banks without the usual charge as from January 1, 2019.Users on queue at a bank’s ATMAccording to the…