Business

A Nigerian judge adjourned yesterday a hearing over an $8.1 billion dispute between South African telecoms giant MTN and the central bank until Jan. 22. The dispute is over the transfer of $8.1 billion of funds…

The Federal Inland Revenue Service (FIRS) generated N5 trillion in the second week of this month. It said by the end of this year, it would have generated N5.3 trillion revenue. Its Executive Chairman, Mr. Tunde Fowler,…

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele, made good his threat to add other items to the list of those banned from the official exchange market. In a circular issued yesterday (but which curiously will…

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) has opposed the Federal Government’s decision to pay its N800 billion debts in tranches. In a statement made available to newsmen, DAPPMA…

As a result of its capability to jeopardise the efficacy of safety-net arrangements and prudential roles of the traditional banking system, such that its basic functions become only available to a smaller segment of…

The Central Bank of Nigeria (CBN), in continuation of its intervention in the foreign exchange market, has injected another sum of $210 million to boost sales in the inter-bank segment of the market. In the sales…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned against the sale of  the nation’s refineries. The workers promised to resist such move. Apparently reacting to a statement…

…as offer closes December 17 The Federal Government of Nigeria through the Debt Management Office (DMO) has launched the sale of the second N100 billion Sovereign Sukuk Bond as part of efforts to address Nigeria’s…

The non-oil sector of the economy continued its growth pattern in the third quarter of 2018, moving from 2.05% recorded in the second quarter to 2.32%. According to the third quarter gross domestic product…

…Says Nigeria’s external reserves now $43bn … Banks service customers accounts with N555bn in 9 months The Central Bank of Nigeria (CBN) has lamented over the non-performing of the N500 billion made available to support…

If you just made a nice windfall selling your property, or came into a fat inheritance, or just happen to have a large nest egg sitting around, here are some ideas from our inaugural survey of experts on where to park $1 million.…

TWO years after Ekiti State stopped Ministries, Departments and Agencies (MDAs) from patronising Zenith Bank, GT Bank and Ecobank, the government has lifted the embargo. Governor Kayode Fayemi announced the…

The naira has made some gain against the dollar after the Central Bank of Nigeria (CBN) began a special $15,000 disbursement to Bureau de change (BDC) operators for the Yuletide. It sold at the weekend for N366 to a…

The Federal Government at the weekend, expressed excitement over firm’s $600 million (N183 billion) investment in an integrated iron ore mining processing and steel production. This was disclosed by the Minister of Finance,…

•National Microfinance Bank takes off January 2019 Commercial banks are not lending over N60 billion five per cent contribution from their annual profits to the Small and Medium Enterprises (SMEs), Central Bank of…

Comptroller, Nigerian Customs Service, Osun/ Oyo Area Command, Mr. Zulkifili Abdulahi Argungu, has declared that the organisation was able to meet 90 per cent of its revenue target for the year 2018, stressing that over N21bn has…

The Federal Government has promised to pay oil marketers N236billion on subsidy claims on Friday, December 14, 2018. This was disclosed by Henry Ikem-Obih, Chief Operating Officer (Downstream) of the Nigerian…

The Federal Executive Council (FEC) has approved the proposed 2019 budget estimates. The approval was given Friday at a special session of the council chaired by President Muhammadu Buhari inside the Council…

The Nigerian Customs Service (NCS) said on Thursday that it generated N1.1 trillion revenue and seized contraband goods worth more than N40 billion between January and November. The Public Relations Officer of the…

Chief James Onanefe Ibori, former governor of Delta State, has given reasons why it makes more economic sense for Shell Petroleum Development Company (SPDC) to return its western operational headquarters to Warri in Delta…

The Federal Government has begun the sale of its second tranche 7-year N100 billion sovereign sukuk, the Debt Management Office (DMO), said on Thursday. The offer circular, which was obtained from its website,…

No more dinners with female colleagues. Don’t sit next to them on flights. Book hotel rooms on different floors. Avoid one-on-one meetings.In fact, as a wealth adviser put it, just hiring a woman these days is “an unknown risk.”…

Ingka Holding BV, parent of the world’s largest home-furnishings retailer Ikea, has started construction on a $1.2 billion shopping mall in Shanghai that the company says is its single biggest investment.The mall, Ingka’s fifth in…

Nigerians take the lead on lists of black billionaires, and one, Aliko Dangote, takes the top spots. With an estimated net worth of $10.3 billion, according to Bloomberg, the Dangote Group founder is the richest man in Africa.…