Business

A study carried out on the operational status of the over 5,000 kilometres of pipeline network belonging to the Nigerian National Petroleum Corporation (NNPC) across the country, has revealed that the pipeline…

THE Nigerian Communications Commission (NCC) yesterday faulted Lagos lawyer Mr. Femi Falana’s (SAN) claim that the country was losing about N600 billion due to the failure of the commission to issue “contract award…

The Chief Executive Officer, Access Bank Plc, Mr Herbert Wigwe, in this interview, spoke on a lot of issues surrounding the proposed merger between Access Bank and Diamond Bank Plc as well as the benefits of the merger to…

*More Nigerians are paying taxes. The taxpayers’ data base has expanded from 20 million to 35 million, the Joint Tax Board (JTB) said yesterday through its Executive Secretary Oseni Elamah. Elamah said the feat was…

WhatsApp groups have become a common feature among WhatsApp users. From teams, groups of friends to extended and nuclear family members discussing pressing issues and planning the next outing, WhatsApp group chats…

The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled from the bourse. In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its…

The Nigerian National Petroleum Corporation,(NNPC) says it made a trading surplus of N9.85 billion in September 2018. The Corporation disclosed this in its monthly financial and operation report released in Abuja,…

Lagos State economy would grow by four per cent in 2019, the Governor, Akinwunmi Ambode, said. Ambode, who spoke at separate meetings on Tuesday in an address he delivered to the state’s foremost social clubs –…

The Nigerian Stock Exchange (NSE) opened for the week on Monday on a bullish trend following massive gains. The News Agency of Nigeria (NAN) reports that contrary to expectations, the All-Share Index closed…

The Central Bank of Nigeria (CBN) and MTN Nigeria Communications have resolved issues relating to the $8.1 billion foreign exchange remittances by the telecom giant, the apex bank announced yesterday. In a…

Forte Oil Plc Chairman Femi Otedola is set to sell his entire 75 per cent majority equity stake in the company in a deal estimated at about N25 billion. Forte Oil yesterday confirmed that Otedola is selling his…

IN spite of the increased aggressive liquidity mop up by  the Central Bank of Nigeria, CBN, cost of funds is expected to fall further this week in response to inflow of N1.36 trillion into the interbank money market. Last week,…

The CBN has spent $11.3 billion to intervene in the interbank foreign exchange market this year. This comprise of weekly injection of $210 million in the interbank market with $100 million allocated to the wholesale…

The Chairman of Forte Oil Plc, Mr Femi Otedola, has announced his decision to sell all his shares in the downstream business of the firm.The firm disclosed this on Monday while notifying the Nigerian Stock Exchange about the…

The management of Bankers Warehouse has called on the Financial and Economic Crimes Commission (EFCC) to release cash and its employees arrested at Enugu Airport on Thursday, Dec. 20. Bankers Warehouse is a…

One of the leading global rating agencies, Moody’s Investors Service, has stated that the recent business combination agreement between Access Bank Plc and Diamond Bank will be “credit positive” for the overall…

The federal government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in…

Vice President Yemi Osinbajo visited Warri and Asaba on Friday to inaugurate the TraderMoni programme as well as felicitate and enlighten traders on the government’s Enterprise and Empowerment Programme (GEEP).…

Materials in a suitcase seized nearly three years ago by Swiss authorities may unlock the identities of the Nigerian recipients of the $1.1billion in corrupt payments by Shell and ENI over the purchase of OPL 245…

Herbert Wigwe, group managing director of Access Bank Plc, says Diamond Bank is determined to write off its non-performing loans before the merger is finalised. Speaking in an interview on Thursday, Wigwe said…

The Federal Government will soon introduce new taxes and excise duties to raise funds for the execution of projects. Minister of Finance Mrs Zainab Ahmed made this known yesterday at the budget breakdown in Abuja,…

A Federal High Court sitting in Lagos south west Nigeria has restrained Diamond bank Plc and its appointed Receiver /Manager Mr. Babajide Koku and any of their agents from exercising any right of a secured credit…

Access Bank Plc could raise up to $457 million or about N165.6 billion in new debt and equities capital to support ongoing business combination with Diamond Bank Plc. Access Bank will be the post-merger entity and its Group…

The market has remained happy with the decision of Diamond Bank to merge or be acquired by Access Bank as share price continues to rise. Diamond Bank shares have gained over nine percent in value every day after …