Business

As liquidity crunch continues to hold sway in the financial market, commercial banks have continued to access the Central Bank of Nigeria’s (CBN) standing facilities window to square up their positions by borrowing N6.275 trillion…

The best way to appreciate the scale of Aliko Dangote’s empire is to hitch a ride on one of his private jets. A half-hour after his Bombardier Challenger 605 takes off from Lagos Airport, it descends into a seemingly desolate area…

Africa’s biggest pay-TV group, MultiChoice, debuted on the Johannesburg Stock Exchange on Wednesday with shares opening at 95.50 rand, giving the company a market capitalisation of 42 billion rand (3.03 billion dollars). South…

....Up 231.8% to N505.3bn .....Private sector lending falls 3.9% The number of companies raising short term debt through commercial papers (CPs) programme from the capital market ballooned last year following reluctance by…

A High Court in London headed by Justice Andrew Burrows has granted Nigeria’s plea to allow it proceed with the trial of JPMorgan Chase. The bank is alleged to have enabled the misappropriation of state funds totalling $875…

The world’s most popular search engine Google may have encountered a glitch in its operations. The company is currently quoting the Naira at N184 to the United States Dollar and N240 to the British pound respectively. …

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Friday alerted members of the public about ongoing security investigation into fake $100 bills allegedly imported into Nigeria from India. ABCON President,…

The Bank of Industry (BoI) has begun to disburse loans of N15,000 to Tradermoni beneficiaries who have repaid their first N10,000 loan. In a statement released on Thursday, the bank said it has recorded high repayment of loans…

The Federal Inland Revenue Service (FIRS) says it generated over N23 billion in unpaid taxes from the recently suspended restriction on the corporate bank accounts of tax defaulters. Babatunde Fowler, FIRS chairman, was speaking…

Some members of the Global Financial Action Task Force (FATF) have condemned the European Union’s decision to blacklist Nigeria and 22 other countries in an expanded list of countries released last week. The EU Commission said…

The Debt Management Office (DMO) says the Federal Government’s February bonds received over N234 billion from investors for the N150 billion that was offered. A statement obtained from the DMO website on Wednesday in Abuja said…

Mr Babatunde Fowler Executive Chairman of Federal Inland Revenue Service (FIRS) Nigeria generated N1.1 trillion as Value Added Tax (VAT) in 2018, representing about 14 percent increase year-on -year (YoY) when compared to N972.35…

The Central Bank of Nigeria (CBN), on Wednesday, revealed that the total amount of non-performing loans of Nigerian banks declined to N1.79 trillion in 2018. Figures obtained from CBN revealed that N13.56 trillion was…

As Nigeria continues to clamp down on tax defaulters, it has ordered some foreign oil and gas companies to pay nearly $20 billion in taxes owed to states, industries and government. According to Reuters report yesterday, a…

The Presidency on Thursday released ten points on the growing Nigerian economy. A statement by the Special Adviser on Media and publicity, Femi Adesina, said that there are lots to cheer in the Fourth Quarter 2018 Gross Domestic…

President Muhammadu Buhari says Nigeria is willing to cooperate with efforts by the Organisation of Petroleum Exporting Countries (OPEC) to reduce oil output in order to attract higher prices in the global market. According to a…

Executive secretary of the Nigerian Investment Promotion Commission, NIPC,, Yewande Sadiku The Nigerian Investment Promotion Commission (NIPC) granted approval for Pioneer Status Incentive (PSI) to nine companies with an investment of…

The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018. The bureau stated this in its…

Zenith Bank Plc has reported a growth of 16. 2 per cent in its profit before tax (PBT) as well as 11.3 per cent growth in profit after tax (PAT) for the year ended December 31, 2018. According to the audited results made…

The Central Bank of Nigeria (CBN) has made a fresh injection of $210 million into the inter-bank foreign exchange market in its determination to boost supply in that sector of the market. Figures released by the Bank on Tuesday,…

The Federal Government has flagged-off its roads for tax-refund initiative with Dangote Construction handling a 16-kilometre Ofeme Community road network in Ohuhu in Umuahia North local Government, Abia State. The community road…

The Federation Account Allocation Committee (FAAC), disbursed the sum of N270.17 billion to the Federal Government in January, 2019, the National Bureau of Statistics (NBS) has disclosed. The NBS said this in FAAC January, 2019…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members nationwide to reduce petroleum pump price from N145 per litre to N140. Chinedu Okworonkwo, national president of the association, made…

Analysts at Coronation Research have a GDP growth forecast of 2.25% y/y for the twelve months ending December 2019. The analysts made this known in their report issued following the release of  Q4 2018 GDP numbers by the National…