Business

Nissan and Mitsubishi shares plunged Tuesday after chairman Carlos Ghosn was arrested for alleged financial misconduct, that reportedly included exorbitantly priced houses and diverted compensation. The two automakers have…

The Buhari Media Organisation (BMO) has advised the Senate to desist from interfering with the executive in the running of state affairs but to concentrate more on its duties of providing adequate legislation for the growth of…

Senior Advocate of Nigeria (SAN) and President, People’s Alternative Front, Mr. Femi Falana has faulted the position of the United Kingdom and United States on the $8.1 billion fine imposed on MTN Nigeria by the Central Bank of…

Samsung Heavy Industries Nigeria (SHIN) Ltd is trying to force the arm of the federal government by instituting a $1.6 billion arbitration case against Total Upstream Nigeria Limited in London, oil industry insiders and top…

The Debt Management Office (DMO) and major oil marketers are to meet this week over subsidy arrears. The meeting, which is at the instance of the DMO is designed to provide an opportunity for the debt management agency to…

The total assets and liabilities of commercial banks stood at N36.2 trillion at the end of August 2018, the Central Bank of Nigeria (CBN) economic report released yesterday has shown. The figure, which is for the third…

…DMBs, other stakeholders worry over cyber crime…CBN lifts FX market, as FG raises $2.86bn in Eurobonds….As MPC meeting holds this week Commercial banks operating in the country have lent a total sum of N22.72 trillion to the…

In its early days, The Palms Shopping Mall, Lekki, was the place to be whether for pleasure or business. Described as the first mall ever built in West Africa, it was the most diverse shopping mall brand in Nigeria offering…

Roadside traders at the Ladipo International Auto Spare Parts Market in Lagos have been ordered to leave or face sanctions. The Federal Ministry of Works gave the traders this quit notice on behalf of the Nigerian Government.…

In a recent report by the Gates and Melinda Foundation, 41% of women in Nigeria are entrepreneurs, compared to only approximately 10% in the US and 5.7% in the UK. The report further shows that Nigeria has the highest…

The monetary policy committee of the Central Bank of Nigeria (CBN) has rescheduled its meeting to Wednesday, November 21 and Thursday, November 22. According to a statement signed by Isaac Okorafor, CBN’s director,…

The crucial indicators of the Nigerian Stock Exchange (NSE) closed on a positive note on Friday with the market capitalisation rising by N70 billion or 0.60 per cent. The News Agency of Nigeria (NAN) reports that the market…

President Muhammadu Buhari has given consent for the renewal of three Oil Mining Licences (OML) belonging to oil and gas firm, Seplat Petroleum Development Company Plc. A disclosure sent to the Nigerian Stock Exchange (NSE)…

The Nigerian Postal Service (NIPOST) has revoked the licences of 30-courier companies in the country. This was disclosed by its General Manager, Courier Regulatory Department (CRD) , Dr. Ishaya Diwa, at a media briefing…

First City Monument Bank (FCMB) is set to substantially increase its support to agribusiness, its value chain and growth of the Nigerian economy after signing a Memorandum of Understanding with the World Savings and Retail…

General Electric (GE) says it is pulling out of the Nigerian railway concession project and handing it over to Transnet SOC Limited. This according to GE is in line with its business strategy to exit transportation business…

Following the exposure of 105 delinquent debtors, the Asset Management Company of Nigeria (AMCON) is preparing to release another list of debtors. AMCON’s Head of Corporate Communications Department, Jude Nwauzo made this…

A Deputy Governor of the Central Bank of Nigeria, Mrs. Aisha Ahmad, has urged young female workers in financial institutions to leverage on networking to boost their efficiency. Mrs. Ahmad who was a panelist alongside the…

The United States/ Iran face-off has resulted in oil sanction, which in the long run may improve the earnings of many OPEC member states, including Nigeria, writes AKINOLA AJIBADE Penultimate week, the United States (US)…

The Federal Government has raised funds from its external debt requirements to finance the 2018 budget at a considerably lower cost than projected. Following the successful pricing, Minister of Finance Mrs Zainab Ahmed…

Nigeria will increase its oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said yesterday. The country will also raise condensate…

The Federal High Court in Lagos has ordered the final forfeiture of the sums of N1,250,000,000; $327,132.35, £167.85 and €157.91 recovered by the Economic and Financial Crimes Commission (EFCC) to the Federal Government.…

In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, injected the sum of $210 million in the inter-bank foreign exchange…

Trading house Aiteo, which had prospered under Goodluck Jonathan’s tenure, has recently had to start making hefty repayments to creditors that had helped the firm buy the giant OML 29. Aiteo founder and CEO, Nigerian…