Business

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)…

African Development Bank, AfDB, has expressed concern that many African owned firms are forced to drop out of the market due to unfair competition from Chinese companies. Senior Director, AfDB Nigeria, Mr. Ebrima Faal, said…

The Federal Government has spent spent N16 billion on Treasury Single Account (TSA) transaction costs in two years, Accountant-General of the Federation (AGF) Ahmed Idris has said. He said the government would no longer…

The Central Bank of Nigeria (CBN), in a report on Friday announced that global banking giant HSBC and UBS, a Swiss private bank, have closed their representative offices in Nigeria. The report did not state why the banks…

Oil prices fell on Friday as surging output by the world’s three largest producers, United States, Russia and Saudi Arabia, outweighed supply concerns from the start of U.S. sanctions next week against Iran’s petroleum…

John Bray, US consul general, and Laura Beaufils, British deputy high commissioner to Nigeria, say the issues faced by MTN in recent times sent bad signals to foreign investors. The US and UK envoys made the assertion on…

THE Central Bank of Nigeria, CBN, yesterday, disclosed that commercial banks have refunded N6.8 billion excess charges to their customers in the first half of 2018, H1’18.The apex bank disclosed this in its half year, 2018 economic…

Aquitane Oil and Gas Limited says it is not indebted to the Assets Management Corporation of Nigeria (AMCON). In a letter sent to TheCable and signed by Ikechukwu Okolo, its managing director, the company said its name was…

The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers. A statement from the Debt Management Office (DMO) stated that it has “commenced the accelerated implementation of…

The continental multilateral financial institution, Africa Finance Corporation (AFC), is on the verge of finalising a $100 million (N36.5 billion) investment deal in Nigeria’s mining sector. About half of the planned…

A few weeks ago, there was a deep outcry in Lusaka, Kitwe, Chingola, Ndola, Livingstone and all other Zambian cities and towns. What could be the problem in the land of Kenneth Kaunda, that could have made people express this…

The Central Bank of Nigeria’s (CBN) Manufacturing Purchasing Managers’ Index (PMI) expanded to 56.8 points in October. The present position of the manufacturing PMI, indicated an increase for the 19th consecutive month. The…

The continued increase in oil prices and sales volumes, Nigeria’s exemption from the production cut by the Organization of Petroleum Exporting Countries (OPEC), capital discipline and reduced disruptions on production…

The Federal Government has generated a total of ₦1.16billion through the rail system of transportation in the first and second quarters of 2018. This was revealed by the Railway Sector Report released by the National Bureau…

A report by the Nigerian Extractive Industries Transparency Initiative (NEITI) shows that oil companies have not remitted $152.69 million and N5.2 billion to the federation account since 2015. According to the report, the total sum…

....New system offers high energy efficiency and performance with less global warming impact Daikin the world’s leading manufacturer of heating, cooling and refrigerant products, announced the launch of the world’s first R-32…

MTN listing in Nigeria is being challenged by  the allegation of regulatory infractions levelled against it by the Central Bank of Nigeria (CBN). The telco has completed its listing on the Ghana Stock Exchange. In its…

The Rich Also Cry’, the saying goes well with the current trouble the family of the late Azeez Alao Arisekola is facing. Four years after the death of the billionaire, there is no light at the end of the tunnel for the family.…

Customers of leading financial services provider, First City Monument Bank (FCMB), and Nigerians in general, who reside or run businesses in Mararaba-Karu, a satellite settlement town in Nasarawa State, neighbouring Abuja…