Business

John Bray, US consul general, and Laura Beaufils, British deputy high commissioner to Nigeria, say the issues faced by MTN in recent times sent bad signals to foreign investors. The US and UK envoys made the assertion on…

THE Central Bank of Nigeria, CBN, yesterday, disclosed that commercial banks have refunded N6.8 billion excess charges to their customers in the first half of 2018, H1’18.The apex bank disclosed this in its half year, 2018 economic…

Aquitane Oil and Gas Limited says it is not indebted to the Assets Management Corporation of Nigeria (AMCON). In a letter sent to TheCable and signed by Ikechukwu Okolo, its managing director, the company said its name was…

The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers. A statement from the Debt Management Office (DMO) stated that it has “commenced the accelerated implementation of…

The continental multilateral financial institution, Africa Finance Corporation (AFC), is on the verge of finalising a $100 million (N36.5 billion) investment deal in Nigeria’s mining sector. About half of the planned…

A few weeks ago, there was a deep outcry in Lusaka, Kitwe, Chingola, Ndola, Livingstone and all other Zambian cities and towns. What could be the problem in the land of Kenneth Kaunda, that could have made people express this…

The Central Bank of Nigeria’s (CBN) Manufacturing Purchasing Managers’ Index (PMI) expanded to 56.8 points in October. The present position of the manufacturing PMI, indicated an increase for the 19th consecutive month. The…

The continued increase in oil prices and sales volumes, Nigeria’s exemption from the production cut by the Organization of Petroleum Exporting Countries (OPEC), capital discipline and reduced disruptions on production…

The Federal Government has generated a total of ₦1.16billion through the rail system of transportation in the first and second quarters of 2018. This was revealed by the Railway Sector Report released by the National Bureau…

A report by the Nigerian Extractive Industries Transparency Initiative (NEITI) shows that oil companies have not remitted $152.69 million and N5.2 billion to the federation account since 2015. According to the report, the total sum…

....New system offers high energy efficiency and performance with less global warming impact Daikin the world’s leading manufacturer of heating, cooling and refrigerant products, announced the launch of the world’s first R-32…

MTN listing in Nigeria is being challenged by  the allegation of regulatory infractions levelled against it by the Central Bank of Nigeria (CBN). The telco has completed its listing on the Ghana Stock Exchange. In its…

The Rich Also Cry’, the saying goes well with the current trouble the family of the late Azeez Alao Arisekola is facing. Four years after the death of the billionaire, there is no light at the end of the tunnel for the family.…

Customers of leading financial services provider, First City Monument Bank (FCMB), and Nigerians in general, who reside or run businesses in Mararaba-Karu, a satellite settlement town in Nasarawa State, neighbouring Abuja…

Asian and European stock markets have tumbled after US values returned to levels not seen since the start of the year. A bruising session on Wall Street on Wednesday saw technology stocks take a particular hammering –…

Pretty Traders in Onitsha Main Market have received N10,000 Federal Government small business scheme known as TraderMoni. The traders, who had earlier registered for the scheme, on Thursday, during the official disbursement…

Amazon reported Thursday that its profit in the recently-ended quarter rocketed to $2.9 billion in a ten-fold increase from the same period last year.Net sales at the e-commerce colossus climbed to $56.6 billion in the third quarter,…

The United Kingdom’s special prosecuting authority, the Serious Fraud Office, yesterday disclosed that two former executives of Afren Plc have been found guilty of a $300 million fraud which they were accused of committing…

There are reports that the current shakeup at Diamond Bank may force the current Group Managing Director, Uzoma Dozie to step down. Recall that the Bank in a notice to the NSE announced the resignation of several…

Tesla reported a net profit, positive cash flow and wider-than-expected margins for the latest quarter on Wednesday, delivering on Chief Executive Elon Musk’s promise to turn the electric carmaker profitable as higher…

Oluseyi Bickerseth, chairman of the board of Diamond Bank, and three other directors of the bank has resigned. The bank announced the resignation in a notice sent to the Nigerian Stock Exchange and signed by Uzoma Uja,…

The founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, yesterday said Nigeria’s economy is headed in the right direction, describing 2016 as a terrible year for the economy. Elumelu, who said this in an…

The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtors. According to the corporation, the “delinquent debtors”, whose names were released owed a total of N906 billion. “This…

Telecoms firm MTN is holding talks with Nigerian officials to find a “mutually acceptable solution” to the dispute over the alleged transfer of $8.1 billion, the firm said yesterday in a statement from Johannesburg. It said…