Business

The Central Bank of Nigeria (CBN) on Wednesday announced the execution of a $2.5 billion bilateral currency swap agreement with the Peoples Bank of China (PBoC) to boost local currency liquidity in the economy. CBN governor, Godwin…

The National Bureau of Statistics, NBS, says Nigerian economy saw a continuous growth in total Capital Importation into Nigeria in the first quarter of 2018, the fourth consecutive quarterly increase since Q2 2017. It said the total…

Kola Ayeye, former executive chairman of the Asset Management Corporation of Nigeria (AMCON), says savers contribute N300 billion to the income of Nigerian banks annually. Speaking on Thursday at the opening of the Mainland office of…

President Buhari's first meeting with Chinese President Xi Jinping was on September 28, 2015, at the United Nations General Assembly (UNGA) Meeting in New York. Following this, the President participated in the Summit of the Forum on…

The Central Bank of Nigeria (CBN) says customers should demand new naira notes from their respective banks and reject dirty ones. Speaking in an interview with NAN in Lagos on Thursday, Isaac Okorafor, CBN spokesman, said commercial…

On Monday, April 16th, 2018, the share price of Courteville Business Solutions Plc reached its lowest level in five years, closing at ₦0.20 against outstanding shares of 3.55 billion. With this, the company’s market capitalisation stood…

United States President Donald Trump sent the oil markets into turmoil following a confirmation that he was pulling out of the Iran Nuclear Deal. As at Wednesday evening, Brent Crude prices were up 2.5% to $77 per share. As you may…

Ralph Mupita, chief financial officer at MTN Nigeria, says the company hopes to raise N400 billion from its debt issuance when it gets listed on the Nigerian Stock Exchange later in the year. Speaking in a Bloomberg interview, Mupita…

The Eleventh tranche of the FGN Savings Bond has begun. Kindly find the Summary of May 2018 Offer below: 2-Year FGN Savings Bond due May 16, 2020: 9.48% per annum 3-Year FGN Savings Bond due May 16, 2021: 10.48% per annum…

MTN Group, South African telecommunications company, says US President Donald Trump’s decision to pull out of the nuclear accord with Iran may make it difficult to repatriate funds from the country. In a statement released on…

Oil prices surged more than two percent in Asia on Wednesday after Donald Trump pulled the United States out of the Iran nuclear deal, fuelling fresh geopolitical uncertainty. Both main crude contracts have been rising in recent…

The Coordinator of the National Youth Service Corps in Osun State, Mr. Emmanuel Attah, has said the Federal Government has made plans for corps members with good business ideas to get loans of between N200,000 and N2m to start their…

*Currency in circulation drops to N1.96trn The Nigerian economy has continued to improve, while further efforts to address remaining gaps by both the monetary and fiscal authorities have been encouraged by local and international…

The legal battle surrounding one of Nigeria’s most lucrative oil blocks, OPL 245, will shift to Nigeria on Tuesday when a federal high court is billed to hear a case filed by the Human Environmental Development Agenda (HEDA), a civil…

The Federal Government has opened its May savings bonds’ offer, the Debt Management Office (DMO) said on Monday. According to the offer circular obtained from DMO’s website, it offered the two-year bonds at 9.48 per cent and the…

Pan African Financial institution, United Bank for Africa (UBA) has again disrupted the e-payment space with the introduction of Master Pass ‘Quick Response’ (QR) Bot. The revolutionary solution enables the micro, small and medium…

The $2.5 billion (Renminbi 16 billion) Central Bank of Nigeria (CBN) and Peoples Bank of China (PBoC) swap  is expected to reduce currency transaction cost for importers and ease foreign exchange (forex) liquidity pressure in Nigeria, …

Vivo Energy operators of Shell Gas Stations in Africa just floated what the Financial Times considers the biggest IPO in Africa at $2.7 billion. According to Reuters, the company launched with a valuation of nearly 2 billion pounds…

Kellogg has released its Q1 2018 financial statements results. Highlights of the result show an improvement in net sales performance, driven by key business brands across the portfolio. The net sales grew by 4.7% in the quarter…

 Multichoice Nigeria, parent company of DStv, says it may consider the pay-as-you-consume (PAYC) payment option in the future. The proposed pay-as-you-consume pricing scheme allows users pay according to their effective resource…

What took so long and what next? Nigeria first announced that it had signed a bilateral currency swap agreement with China in early April 2016. More than two years later, the deal was finally made official in Beijing on Friday 27th…

West Africa’s infamous Internet scammers have evolved, dropping their impersonations of online love interests, princes and United States soldiers in favour of hijacking corporate emails, costing businesses hundreds of millions of dollars…

The National Pension Commission (PenCom) has put the net asset value of the contributory pension scheme (CPS) at N7.779 trillion as of February 28, just as it said that N54 billion released by the federal government last year would boost…

First Bank of Nigeria Limited, Stanbic IBTC, Standard Chartered Bank (SCB) and Zenith Bank Plc have been appointed the settlement banks for the $2.5 billion bilateral currency swap agreed between the Central Bank of Nigeria (CBN) and the…