Business

The electricity distribution companies (DisCos) have demanded a cost recovery framework before making investments in power distribution. Speaking at a seminar for the preparation of performance…

The federal government, through the Debt Management Office (DMO), will issue a N100 billion bond for subscription on June 26. In a circular posted on its website on Tuesday, the DMO said it will receive…

Femi Otedola, the erstwhile majority shareholder of Forte Oil Plc, yesterday announced his exit from the firm, in a post on his Instagram page.   During the day’s trading session, 970,166,694…

The Central Bank of Nigeria (CBN), has revealed that Nigeria attracted total capital inflows worth $33.27 billion in the past seventeen months. A breakdown shows that the country’s Foreign Direct…

Consolidated Capital Market Stakeholders Forum (CCMSF) has backed the recently released forensic audit which the Securities and Exchange Commission (SEC) has against Oando Plc. In a statement signed by…

President Muhammadu Buhari says Nigeria will be guided by ‘‘national interest’’ in taking any decision on the agreement establishing the African Continental Free Trade Area (AfCFTA). The…

Aliko Dangote, president of Dangote Group, says Nigeria is currently losing at least 300,000 tonnes of sugar to smuggling annually. He also said the smuggling activities in the sugar industry has hindered the…

In spite of the recent incidents of air crash and near-crash involving it, Ethiopian Airlines Group, the largest Aviation Group in Africa, has again been voted the ‘Best Airline in Africa’ for…

Femi Otedola, billionaire businessman, says the sale of Forte Oil Plc, has been completed. Last year, Otedola, who was chairman of the oil firm, had announced the plan to sell off his 75 percent stake in…

The Institute of Directors (IoD) Nigeria has launched an  investigation into the crisis between the Securities and Exchange Commission (SEC) and Oando Plc. It has mandated its directors of…

African Bankers have described the federal government tradermoni as Africa’s most impactful financial inclusion scheme. The Tradermoni,which is a key element of the Buhari administration’s…

Shareholders of the leading cement manufacturer, Dangote Cement Plc, have approved a dividend payment of N272.6 billion for the financial year ended December 31st, 2018. This translates to a…

The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria’s crude oil has exceeded the 2.3 million barrels per day benchmark as the average daily production hit 2.323 million…

Deposit money banks (DMBs) in Nigeria borrowed a total of N10.2 trillion from the Central Bank of Nigeria (CBN) through the Standing Lending Facility (SLF) window of the apex bank in the first four months of this…

Any firm found smuggling into the country goods for which access to foreign exchange (forex) has been restricted will have its bank accounts closed, the Central Bank of Nigeria (CBN) warned…

A new flavour from the stables of Nigerbev Limited, makers of Best alcoholic beverage, has been unveiled in Nigeria to the delight of their teeming alcoholic beverage lovers. Best alcohol premium beverage aims to satisfy…

The government of the People’s Republic of China on Monday said that it would create more opportunities for more Nigerians to visit China in the years ahead.Mr Chu Maoming, Consul General of China in Lagos State, told the…

Nigeria has overtaken South Africa as Africa’s largest economy. And with over 200 million people, it is the largest market in the continent, its population nearly twice the size of Ethiopia (110 million) or…

The founder of Huawei said on Monday that the embattled Chinese telecom giant’s overseas smartphone sales had tumbled by 40 per cent this year as it grapples with a US push to clip the company’s…

…as e-payment gains tractionValue of cheque transactions across the country stood at N1.9 trillion in the last five months, New Telegraph has learnt.This, however, showed a decline in the paper-based deals compared to…

Sixty-Two debtors are owing the Asset Management Corporation of Nigeria (AMCON) N10 billion and above each, the agency has said. The corporation was established on July 19, 2010, when AMCON Act was…

The on-going tussle between the Securities and Exchange Commission and the management of Oando Plc is significantly having negative effects on shareholder value, writes Oluchi ChibuzorMinority shareholders in Oando Plc are…

The Bank of Industry (BoI) disbursed over N270billion in 2018, the Executive Director, Large Enterprises, Bank of Industry, Mr. Simon Aranonu has said. Speaking in an interview with The Nation at the…

After series of warnings from the CBN and SEC, it's so unfortunate that some Nigerians still went ahead to invest in the Ponzi scheme, Loom. Lagosians storm LOOM headquarters as they claim no staff has been on ground since last week.…