Business

Africa’s downstream sector has seen an injection of $30 billion in investment, as the continent is one of the few regions where oil demand is expected to grow steadily for the next two decades, the African Refiners and…

Nigeria plans to spend $20 billion on infrastructure over the next 10 years and will introduce an infrastructure bond in 2019 as Africa’s biggest oil producer seeks to address challenges in revenue generation.“Our target is…

The recently created Payment System Department of the Central Bank of Nigeria (CBN) has been charged with the responsibility of regulating the activities of the financial Technology Companies (Fintechs) and…

The Lloyd’s of London insurance market recorded a loss of one billion pounds ($1.32 billion) in 2018 due to major natural catastrophes such as hurricanes and wildfires, it said on Wednesday. Lloyd’s,…

Lukman Otunuga, research analyst at FXTM, says the Central Bank of Nigeria (CBN) would likely cut interest rates further if macro economic conditions in the country improve. Otunuga was reacting to an…

Two financial experts, Samuel Nzekwe and Titus Okurounmu, on Wednesday commended the Central Bank for reducing the benchmark lending rate from 14 per cent to 13.5 per cent. The News Agency of Nigeria…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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,…

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,…

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…

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 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…

…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…

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…