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Business
Merger: Diamond Bank shareholders set to receive consideration
Shareholders of Diamond Bank Plc will soon receive consideration of cash and shares following the its proposed merger with Access Bank Plc. The bank entered into merger agreement with Access Bank Plc late…
Importers Are Nigeria’s Greatest Enemies – Audu Ogbeh
The Minister of Agriculture, Mr Audu Ogbeh, says importers are the greatest wreckers of Nigeria’s efforts to promote patronage of locally produced.goods Minister of Agriculture and Rural Development, Chief Audu Ogbeh, made…
EU sanctions Nike N5.6 billion for blocking cross-border sales
U.S. sportswear maker Nike was hit with a 12.5 million euros fine on Monday for blocking cross-border sales of football merchandise of some of Europe’s best-known clubs. The fine, which is about 10.7 million…
BREAKING: CBN MPC reduces interest rate — two years after retaining 14%
The monetary policy committee of the Central Bank of Nigeria (CBN) has reduced the monetary policy rate by 50 basis points. This means that the MPR, which is put at 14%, was eased to 13.5%. Announcing…
Regularise multiple shareholding accounts before Dec. 31 – SEC tells Investors
The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019. Addressing the press at the first quarter Post Capital…
AfCFTA: Kagame speaks on Buhari and the Nigeria problem
Paul Kagame, president of Rwanda, says Nigeria is sorting things out to get on the continental free trade area agreement, already signed by a majority of countries in Africa. Speaking at the Africa CEO forum on…
How we plan to handle 600m PoS transactions this year – Ajao, acting MD, NIBSS
As the Nigeria Inter-bank Settlement System (NIBSS) and its partners executed 285 million Point of Sale (PoS) transactions last year, its Acting Managing Director, Mr. Niyi Ajao, is upbeat that the figure is…
525 Farmers To Benefit From CBN Inputs Distribution
No fewer than 525 farmers in Imo State will benefit from agricultural inputs distribution under the Central Bank of Nigeria (CBN’s) Anchor Borrowers’ Programme for the 2019 wet season farming. The…
POS leads e-payment transactions with 286m deals
Point of Sale (POS) transactions is leading other e-payment channels, rising from nine million transactions in 2013 to 285.89 million last year, the Central Bank of Nigeria (CBN) has said. CBN Deputy…
EITI ranks NNPC as transparent
The Nigerian National Petroleum Corporation, NNPC, yesterday, said it has been conferred with the highest discloser status by the global extractive industries watchdog, Extractive Industries Transparency Initiative, EITI.The…
President Buhari Felicitates With First Bank Nigeria Ltd On 125th Anniversary
On behalf of the Federal Executive Council (FEC), and Nigerians in general, President Muhammadu Buhari congratulates First Bank Nigeria Limited on its 125th anniversary, which historically and remarkably…
Nigeria, other African nations lose $50 billion to illicit flows annually – Travelex
Travelex Nigeria Limited at the weekend disclosed that Nigeria and other African countries “are losing over $50 billion annually through illicit financial flows.” Travelex, a foreign exchange firm,…
Power sector shortfall exceeds N1.4 trillion due to tariff
Owing to the non-review of the Multi Year Tariff Order (MYTO) since February 1, 2016, the shortfall of the Nigerian Electricity Supply Industry (NESI) has exceeded N1.4trillion. The Executive Director,…
Hibiscus: CBN policies have given us leverage – Exporter
Olatunji Lawal, is Managing Director, Toons Consolidated Limited; a company that export hibiscus flowers, dry-split ginger and some other Agro ccommodities from Nigeria. In this interview, he speaks with…
Journey towards Rice Revolution
From Nigeria being the world’s second largest rice importer years back, the narrative appears to have changed as the country continues to take steps to ramp up domestic production.According to a recent report, Nigeria has…
Credit Suisse Boosts Thiam’s Pay 30% After Flip to Profit
Credit Suisse Group AG boosted Chief Executive Officer Tidjane Thiam’s compensation by about 30 percent even as the stock slumped, a move that risks reigniting a debate over the size of executive payouts at the Swiss…
Trade Fair Complex controversy: Buhari unaware of govt illegality – Traders lament
…Appeal to him to intervene…The issues, fa cts, figuresThe controversy over the status of the traders in Trade Fair Complex is fraught with many ambiguities.While the traders claim there is a valid 49-year lease with an…
MTN yet to submit application for listing, says SEC
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has said that MTN Nigeria has not filed any application that could kick-start regulatory consideration of the proposed listing…
Ogun highest producer of solid minerals – NBS
The National Bureau of Statistics (NBS) has disclosed that Ogun produced the highest tonnes of solid minerals in the country in 2018. The NBS disclosed this in its State Disaggregated Mining and…
Central bank chief Godwin Emefiele foresees 3% GDP growth rate in 2019
The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Thursday projected that the Nigerian economy would grow by three per cent in 2019, higher than the 1.93 per cent it achieved in 2018.…
30,000 traders have received Tradermoni after elections – Presidency
Contrary to speculations in some quarters, the TraderMoni scheme and other GEEP micro-credit products (MarketMoni and FarmerMoni) – a component of the Buhari administration’s Social Investment Programme, are still…
Federal government, NLNG to sign $1 billion Nigerian content deal on Train 7
Hope has rekindled for the actualisation of the Train 7 of the Nigerian LNG Limited as the federal government and the shareholders of the gas-processing and liquefaction company will today in Abuja, sign…
Local bond market attracts $6b, says CBN
THE successful conduct of the general elections is rubbing off positively on investments, with the inflow of over $6 billion into the local bond market. Central Bank of Nigeria (CBN) Governor Godwin…
Increase in VAT’ll hurt businesses, consumers – OPS warns
ORGANISED Private Sector, OPS, yesterday, cautioned against plan by the Federal Government to increase Value Added Tax, VAT, warning that it would hurt manufacturers, businesses and consumers alike.OPS in a statement by…