Business

The Minister of Information, Lai Mohammed, has said that the current policy of multiple exchange rates for the naira is working well, and as such the Central Bank of Nigeria (CBN) is unlikely to change it anytime…

After hearing Microsoft Corp. co-founder Bill Gates give a speech about the internet three decades ago, Eric Yuan decided he wanted to become part of the Silicon Valley dot-com boom.Then the China-born entrepreneur hit a…

Billboard recently reported that Amazon had entered discussions to launch an answer to Spotify’s free music streaming tier, and apparently, those talks were productive. The Seattle company today announced an…

The  Federal Government yesterday said it will divest 60 per cent of its stakes in the Bank of Agriculture (BoA) as part of plans to restructure the lender. The Director-General, Bureau of Public…

The nation’s foreign reserves rose by $1.85bn to $44.728bn as of April 12 from $42.87bn in March 12, according to latest statistics from the Central Bank of Nigeria.The value, rose from a value of $43.041bn in December 17,…

Guaranty Trust Bank plc has released its unaudited Financial Results for the quarter ended March 31, 2019, to the Nigerian and London Stock Exchanges. The Bank recorded positive performance across all financial metrics with…

The United Global Resolve for Peace on the Treasury Single Account has called on the Federal Government to disclose the total amount that had accrued to the Treasury Single Account since its implementation.…

Nigeria’s inflation measured by the Consumer Price Index (CPI) in March dropped by 0.06 per cent points, lower than the rate recorded in the previous month.In its monthly report posted on its website, the National Bureau of…

Diaspora remittances to Nigeria stood at $24.3 billion last year. It was the highest remittance to any country in sub-Saharan Africa and an increase of more than $2 billion compared to the previous year’s…

A Nigerian billionaire business man, Igho Sanumi has forfeited three of his popping London mansions as well as his expensive jet to Swiss bank over a debt www.e-nigeriang.com gathered is valued at about $3…

For the very first time in Nigeria’s 59-year history, the signature of a woman, Priscilla Ekwere Eleje, goes on the naira.  Eleje, who has been acting director of currency and operations at the Central…

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,…