Business

As the Nigerian economy continues to gather momentum, after recording its fastest growth since 2015 in the fourth quarter of 2018, analysts have highlighted the role the direct financial intervention the…

The Nigerian National Petroleum Corporation, NNPC, yesterday said that it has reduced joint venture cash call indebtedness to international oil companies to $3.5 billion.Group Managing Director of the NNPC, Dr. Maikanti Baru…

IN the last three weeks, the oppressive impact of the myriad charges on the transactions of every owner of a bank account in Nigeria was the subject of discussion.Several media reports, lately also suggest that these charges,…

Few days after reports rented the air of a likely takeover of Sahara Energy Resources by UBA Plc, depending on the outcome of a litigation instituted by the bank over Sahara Energy Resources Limited’s inability to pay a debit of…

At a ceremony in Kano on Thursday, April 11, 2019, private sector investors – Popular Farms & Mills Nigeria Limited commissioned a strategic multi-billion Naira Rice Mill expansion of 140,000 MTs per year milling…

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the intending exit of Britain from the United Kingdom will not have an adverse effect on Nigeria. Speaking on Sunday while briefing…

UBA Plc has filed a winding up petition against Sahara Energy Resource Limited (Sahara Energy) at a federal high court in Lagos. The petition was based on a N15 billion loan owed by KEPCO Energy…

The National Programme Manager of Popular Farms and Mills Limited, a division of Stallion Group of Companies in Kano State, Alhaji Suleiman Umar on Friday, declared that the company is targeting the…

Managing Director and Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru has  reiterated that the over N5trillion bad debts, which Nigerians expect AMCON to fully…

Absa Group Limited, a South African financial services provider, says its planned expansion into Nigeria will kick off in the second half (H2) of 2019. Absa will focus on its corporate and investment bank (CIB)…

The Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu has challenged exploration and production companies in Nigeria to strive to raise daily crude oil production to seven million barrels…

The Nigeria Customs Service (NCS) has collected  N312,603,256,366.88 in the first quarter (Q1) of this year, it was learnt on Tuesday. According to a document obtained by The Nationfrom the Customs…

Zainab Ahmed, Minister of Finance, has secured a $532.8 million grant from the Islamic Development Bank (IDB) on behalf of the Federal Government. Ahmed sealed the deal in Marrakesh, Morocco, on Monday,…

Innoson Motors Limited in Nnewi has advised Guarantee Trust Bank (GTB) to stop deploying more resources into stopping the execution of the court order made against it. The motor company said the refusal,…

Tales of humble beginnings are not hard to come by in Nigeria and the story of Ebenezer Onyeagwu definitely fits the description. Onyeagwu was announced on Monday as the new chief executive officer of…

The Federal Inland Revenue Service (FIRS) and the National Lottery Regulatory Commission (NLRC) have commenced process to automate the collection of Value Added Tax (VAT) on lottery and gaming businesses in…

United States’ sanctions against Iran and Venezuela, fighting in Libya and production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) yesterday pushed crude oil price to a five-month high of $70 per…

The  Nigerian Stock Exchange (NSE) has launched a comprehensive review of its rules to block loopholes being exploited for surreptitious trading in shares by directors and other insiders of quoted…

The President and Chief Executive Officer (CEO) of Dangote Group, Aliko Dangote, says his refinery will eliminate fuel scarcity and transform Nigeria’s economy for decades when it comes on stream.…

Lagos State Governor Akinwunmi Ambode yesterday performed the pre-launch of a $50 million manufacturing plant in Lekki Free Zone. The governor expressed optimism that the facility would go a long way to…

The provisions for loan losses by commercial banks in the country have continued to drop, thereby raising hopes of higher returns on investments for shareholders, THISDAY has learnt.Loan loss provisions had in 2016 and 2017…

In a bid to recover a debt of ₦343,895,137, Stanbic IBTC bank Plc has renewed its legal battle against a shipping company, Enegas Power limited and two Directors of the company, Mr Frank karkite and…

COMMERCIAL banks are to be probed over stamp duty collections, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said. A statement by the Commission’s spokesperson, Ibrahim Mohammed,…

The Nigerian Export Promotion Council (NEPC) disclosed at the weekend that the Export Expansion Grant (EEG) is being resuscitated as the minister of Finance has directed the Debt Management Office for…