Business

The Central Bank of Nigeria says the country’s external reserves now stand at 45 billion dollars as of June 2019.The CBN Governor, Mr Godwin Emefiele, disclosed this while reeling out the policy road map for his five years…

Godwin Emefiele, governor of the Central Bank of Nigeria, says there are plans to carry out a recapitalisation exercise for deposit money banks in the country. Emefiele made this known on Monday while…

The Nigerian Ports Authority has cancelled the contract for the $2.6bn Badagry deep seaport project, stating that the deep seaport master plan was wrongly done. This is even as the agency explained that it had begun the…

The World Bank says it will give a total sum of $200 million to over 60,000 Nigerian farmers through its Productivity Enhancement and Livelihood Improvement Support (APPEALS) initiative. This…

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) yesterday said it had recovered and remitted into the Federation Account N48.7 billion collected as taxes on behalf of the Federal Government by deposit…

Stakeholders in the capital market have urged Oando Plc and the Securities and Exchange Commission (SEC) to opt for an out-of-court settlement of their dispute in the overall interest of the…

The Federal Government has taken the verification and payment of ex-workers of the defunct Nigeria Airways Limited (NAL) in Diaspora to London, United Kingdom (UK). The two-week exercise, which will be conducted by an…

Only high net-worth individuals and institutional investors that have a minimum of $3 million in investable assets will be offered shares in the upcoming initial public offers (IPO) of Airtel Africa.…

Huawei filed a lawsuit against the U.S. Commerce Department on Friday challenging whether telecommunications equipment it sent from China to the United States, and then back to China, is covered…

Drug prices in Nigeria may increase by as much as 100 percent in just a matter of weeks. This is because of the recent hike in the price of drug registration by the National Agency for Food and…

Concerned with the stagnant state of the nation’s economy marred with inconsistent foreign exchange earnings through oil export, the Association of Bureaux De Change Operators of Nigeria has…

One of Facebook‘s Co-founders, Chris Hughes, has come out to sound the alarm over the company’s new cryptocurrency – Libra. Facebook’s unveiling of its digital currency elicited quite a number…

They surrendered their firearms to the government under the Amnesty Programme with a pledge to eschew criminality but inside the Niger Delta creeks, the militants run well-coordinated oil theft…

Femi Otedola, a Nigerian businessman and billionaire, has disclosed plans to shift his focus to power generation. In a series of tweets on his Twitter page on Saturday, Otedola said his business focus…

Mavrodi Mundial Moneybox (MMM), the Ponzi scheme which dashed the hope of over three million Nigerians in 2017, is back but not with a bang. This time dubbed MMM Cooperation, the…

An Italian aviation interior company, Aviointeriors, has designed SkyRider seats or standing seats for a new ‘Ultra-Basic Economy’ class on planes. Also known as saddle seats, Aviointeriors…

The Central Bank of Nigeria (CBN) has promised to offer loans to the National Youth Service Corps (NYSC)members for a 7-year tenor. The loan is intended for the purpose of establishment of small and medium scale enterprises. This was…

The Securities & Exchange Commission (SEC) and Oando saga is generating commentary from all quarters. There have been appeals for SEC to follow due process in the Oando case from groups as…

The Central Bank of Nigeria (CBN) has summoned all authorised currency dealers for a meeting to discuss development in the foreign exchange market. The invitation was contained in a circular…

The Tax Appeal Tribunal, South East Zone, has declared that gratuities payable to pensioners are tax exempted under the Personal Income Tax Act (PITA). The tribunal made the declaration while…

President Muhammadu Buhari resisted the pressure to extend the tenure of outgoing Nigerian National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru, The Nation learnt on Thursday.…

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…