Business

FCMB Bank (UK) Limited, an independently incorporated subsidiary of First City Monument Bank Limited (which is a member of FCMB Group Plc), has introduced its Personal and Business banking proposition in London, United Kingdom and…

In the oil and gas industry, Dr. Luqman Kayode’s name evokes a mixture of admiration, envy and respect. He runs CAMAC Holdings, comprising CAMAC International Corporation, CAMAC Energy Inc and Allied Energy Corporation, in the United…

The disagreement between the Federal Government and power distribution companies continued on Tuesday, with the Discos threatening to quit the sector and expressed willingness to resell the power assets at discounted rates. Investors…

The ride-hailing business Uber has shut its self-driving trucks division to focus solely on its research with autonomous cars. Although the division had completed a delivery of Budweiser beer in 2016, it is now shutting down as the…

The organised labour has called on the Federal Government to immediately review the privatisation of the power sector and revoke the licences of Electricity Generation Companies, GENCOs and Electricity Distribution Companies, DISCOs, to…

Sanusi Ohiare, executive director of rural electrification fund, Rural Electrification Agency (REA), says an estimated N5trn is expended yearly on importing, fuelling and maintaining generators by businesses in the country. He said…

Nigerian Breweries says it recorded a 22 percent decline in profit after tax for the half year ended June 30. This is according to the company’s unaudited result submitted to the Nigerian Stock Exchange (NSE) for the period under…

The oil output of the Organisation of Petroleum Exporting Countries (OPEC) has risen this month to  it highets as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group. This is even as losses…

The Central Bank of Nigeria sold yuan at a range of N49-51 at its first auction of the Chinese currency last week, traders said yesterday. The auction, which is part of an attempt to encourage the use of an alternative trading…

The Chairman of Zenith Bank Plc, Mr. Jim Ovia, has advised budding entrepreneurs not to be dissuaded by whatever challenges they might be facing presently, just as he narrated how he founded a bank with N20 million in 1990, despite the…

Nigerian electricity distribution companies (DisCos) distributed 93,219 prepaid meters between January and March, according to data from the power sector report of National Bureau of Statistics (NBS). The report said the number of…

Are you a young, talented hair stylist, makeup artist or fashion accessories designer, between the ages of 16-30 looking to grow your small business? Then, you’re in luck because the third season of FCMB’s #FlexxYourCreativity…

There is a lesson in the failures of foremost magnates, a didactic note for all. Consider the sad predicament of Wale Tinubu and Mofe Boyo. As you read, they are struggling through impediments and devastation posed by their company’s…

Oando Plc has continued to defy skeptics as it recorded N8.5 billion profit-after-tax (PAT) in its half-year (H1) results ended June 30, 2018. The impressive result comes in the wake of increase in the price of oil and gas commodities.…

The Department of Petroleum Resources (DPR) says the federal government approved the renewal of 25 oil block licenses and approved 16 new field development plans. NAN reports that the information was made available in the DPR report…

Africa’s richest man, Aliko Dangote has put a timeline on his goal of buying Arsenal, following a report that Alisher Usmanov is exploring a sale of his 30 percent stake,National Daily gathered. The Financial Times reported on…

The National Insurance Commission (NAICOM) has raised the minimum capital requirement for insurance firms operating in the country by 200%. According to Mohammed Kari, commissioner for insurance, the implementation of risk-based…

To encourage banks to give credit to the real sector of the economy, at single digit rates, the Central Bank of Nigeria (CBN), has offered to complement the banks. Speaking yesterday after the end the Monetary Policy Committee (MPC)…

It will take a miracle for CEO of Oando Plc, Wale Tinubu, and his deputy, Mofe Boyo to wriggle of their present ordeal unscathed following debt crisis that is threatening their positions in the company. The recent decision by a London…

Nigeria will attempt to re-sell the Yola Electricity Distribution Company (Disco), which was returned to it in 2015 by a core investor after declaring a force majeure on its operation of the network, as well as two gas power generation…

The Nigerian Electricity Regulatory Commission (NERC) has approved 15 additional firms to participate in the distribution and installation of prepaid meters. An updated list of July 19 showed that NERC added 15 companies to…

Soaring temperatures in Germany’s ongoing summer heatwave have seen so many drinkers reach for a cold beer that breweries are running out of bottles and crates. “This is an industry-wide drama,” Niklas Other, publisher of the…

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day…

The National Bureau of Statistics, NBS, yesterday said that Nigeria’s consumer prices in June rose at the slowest pace in two and half years. In a report, the NBS revealed that the annual consumer inflation rate was 11.2 percent…