Business

THOSE accusing the Central Bank of Nigeria (CBN) of operating multiple foreign exchange (forex) rates are wrong, CBN Governor Godwin Emefiele has said. What obtains are multiple foreign exchange (forex)…

Multinational oil giant, Shell Petroleum Development Company Limited (SPDC), has declared that despite pressure from some quarters, it has no intention to resume oil and gas exploration activities…

MTN Nigeria on Saturday said that it was being investigated by the Economic and Financial Crimes Commission (EFCC) over the listing of its shares on the Nigerian Stock Exchange (NSE).A statement posted on the exchange web…

Shares belonging to MTN Nigeria recorded its first price loss on the Nigerian Stock Exchange (NSE) on Friday after its listing on May 16. NAN reports that the stock dipped N9 to close at N140…

The U.S. government is lobbying South Korea not to use Huawei Technologies products, a South Korean newspaper reported on Thursday, amid a wider push by Washington to get its allies to reject the…

The Nigerian Electricity Regulatory Commission (NERC) has issued permits to Kaduna Electricity Distribution Company (KDEDC) and Eko Electricity Distribution Company (EKEDC), Meter Asset Providers (MAPs), in…

The management of Access Bank has threatened to publish the list of all its delinquent debtors. In a statement released on Thursday, the bank said it is acting in line with a directive from the Central…

Some economic and financial experts have said the country’s economy is not under threat of recession as all indices have shown consistent improvement since 2018.Though the Central Bank of Nigeria (CBN) Governor Godwin…

THE Rice Farmers Association of Nigeria, RIFAN, yesterday, hailed President Muhammadu Buhari, over the reappointment of Godwin Emefiele as Governor of the Central Bank of Nigeria, CBN, for another term in…

......Emefiele seeks stronger fiscal buffersThe moves by the Central Bank of Nigeria (CBN) to limit commercial banks’ investment in treasury bills and federal government bonds have started causing disquiet in the banking…

The Nigerian National Petroleum Corporation (NNPC) says it remitted N1.26 trillion into the federation account in 2018 as against the projected N1.22 trillion projected in the 2018 budget.…

The Nigerian Communications Commission (NCC) says the MTN Group has nine days left to pay up its N330 billion fine, which has a deadline of May 31. In October 2015, the regulator slammed MTN a fine of…

The Nigerian Customs Service (NCS) has commenced electronic (online) auction of contrabands, including exotic cars of different brands seized from smugglers in Imo/Abia and Edo/Delta commands.…

The Oyo State and the Federal Governments have fine-tuned agreement on the proposed $99,665,626 (N35.9b) Ibadan Inland Dry Port, which is expected to ease the pressure on the Apapa Seaport and the…

The Federal Inland Revenue Service (FIRS) yesterday promised to surpass in 2019 the N5.32 trillion it made last year. The N5.32 trillion remains its highest yearly collection so far. In a paper…

Former governor of Abia State, Orji Uzor Kalu was a guest of embattled President Nicolás Maduro of Venezuela on Monday. Orji, now a senator-elect in his state met Maduro at the Miraflores Palace,…

Nigeria’s external reserve has hit the $45bn mark in May, up from the $44.7bn it reached earlier in the month. According to figures revealed by the Central Bank of Nigeria, external reserve has increased…

The French Agency for Development (AFD) says the 11 electricity distribution companies (DisCos) in Nigeria will need an investment of $10 billion to improve power supply in the next five years.…

MTN Nigeria Communications Limited has paid a total of N235bn out of the N330bn fine imposed on the mobile telecommunications operator in August 2015 by industry regulatory agency, the Nigerian Communications…

The special presidential investigation panel for the recovery of public property says it will sue Unity Bank for alleged economic sabotage if it refuses to return N7 billion. In a statement released on…

The telecoms sector boosted the nation’s Gross Domestic Product (GDP) in the first quarter (Q1) of this year with N2trillion, Communications Minister Adebayo Shittu said yesterday. Shittu, who spoke…

The first quarter (Q1) Gross Domestic Product (GDP) for 2019 has been released by the National Bureau of Statistics. The Q1’2019 GDP grew by 2.01%, which signifies an improvement from the 1.89% growth…

More facts have emerged on the reasons why the defunct Diamond Bank surrendered itself for a business combination deal with Access Bank Plc. The deal was consummated on April 1. According to a…

The Nigerian National Petroleum Corporation (NNPC) has said it will unveil  the largest Liquefied Petroleum Gas (LPG) also known as cooking gas and propane storage and dispensing facility in Oredo,…