Business

Reports have shown that Nigerian banks generated a total revenue of about N124.5 billion from electronic transactions in FY 2018. A breakdown of the audited 2018 yearly reports from 11 banks indicates…

Aiteo Eastern Exploration and Production says it is compelled to shut down the 97 kilometer Nembe-Bonny oil export pipeline due to discovery of additional leaks. Mr Mathew Ndianaabasi, Spokesman for Aiteo,…

Credit and debit cards are handy tools for payment. They can be used online or in person, and it is easy to use somebody else’s card. In fact, cards often get passed around, stolen, or otherwise used in ways that were not…

The Nigerian National Petroleum Corporation (NNPC) has a trade surplus of N15.04billion for January, an increase of 24 per cent over the N12.13 billion surplus posted by the corporation in December 2018.…

GOING by the record of the Central Bank of Nigeria (CBN), e-fraudsters have fleeced customers of self-initiated banking solutions, such as Mobile Apps and Unstructured Supplementary Service Data…

Ahead of Ramadan, prices of tomato and pepper have soared by 60 per cent in some markets in Lagos, the News Agency of Nigeria (NAN) reports. A NAN survey conducted at Mile 12, Oke Odo, Oyingbo and Iddo…

ONE hundred and thirty-two local and international companies yesterday offered to buy 14 cargoes of Nigerian crude oil monthly in the Nigerian National Petroleum Corporation (NNPC) 2019/2020 Direct Sale and…

The Federal Capital Territory Administration (FCTA) has commenced series of intensive technical training for staff who are integral part of Abuja Rail Mass Transit (ARMT) operations team. The  training is…

Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a hardening of sanctions on Tehran by the United States.…

The King of Saudi Arabia, Salman bin Abdulaziz Al Saud, and the Crown Prince, H.R.H. Mohammed bin Salman bin Abdulaziz Al Saud have endorsed a memorandum of understanding (MoU) being prepared by Nigeria and the…

First Bank of Nigeria has said that its efforts to deepen financial inclusion in Nigeria has grown its network of mobile money agents to over 22,000 agents. The bank also said the agents had processed over $490…

Online payments company PayPal plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported. PayPal will…

Fidelity Bank Plc on Thursday announced gross earnings of N48.4 billion for the first quarter ended March 31, 2019. The News Agency of Nigeria (NAN) reports that the gross earnings represented a growth…

The House of Representatives is to constitute an ad hoc investigative panel over the non-remittance of stamp duty by the Central Bank of Nigeria (CBN), money deposit banks and other collection agents.…

Nigerian workers who are part of the contributory pension scheme can rest easy as their assets were not affected by the recession and naira devaluation in 2016, the Pension Fund Operators Association of…

In the stock market, small margins separate success from failure. Ten per cent is a big difference in performance; 100 per cent, an oceanic one. And then there is Warren Buffett. Over the past 54 years,…

As Nigeria is reportedly planning to repair its refineries with N900 billion, Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria. Minister of Energy Industry and Mineral…

MTN Nigeria has changed its status from a private company to a public liability company (PLC) ahead of its listing on the Nigerian Stock Exchange. This conversion is one of the requirements for listing…

Olam International Limited, a Singaporean agro-allied company, on Tuesday offered to acquire Dangote Flour Mill, DFM, Plc in a bid worth N130 billion. Dangote Flour Mills, in a notice to the Nigerian Stock…

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria’s continuous subsidising of petrol consumption means the Nigerian National Petroleum Corporation (NNPC) will remain…

Emmanuel Ibe Kachikwu, the minister of state for petroleum, says he lost about six kilogrammes in weight when they tried to remove subsidy on petroleum products in 2016. Speaking on Hard Copy, a…

The Federation Account Allocation Committee, FAAC, has disbursed N1.92 trillion to the federal, state and local governments in the first quarter of 2019, according to the National Bureau of Statistics, NBS.…

The Minister of Information, Lai Mohammed, has said that the current policy of multiple exchange rates for the naira is working well, and as such the Central Bank of Nigeria (CBN) is unlikely to change it anytime…

After hearing Microsoft Corp. co-founder Bill Gates give a speech about the internet three decades ago, Eric Yuan decided he wanted to become part of the Silicon Valley dot-com boom.Then the China-born entrepreneur hit a…