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Latest News Court sacks Jerry Gana, reinstates Donald Duke as SDP Presidential Candidate 2019: INEC may disqualify 1 presidential candidate, 3 vice presidential candidates, 40 others Supreme Court refuses to hear 14 election cases 2019 elections will define Nigeria’s future –US ambassador Protesting youths block Enugu-Onitsha expressway 2019: Rousing welcome awaits Buhari in Ebonyi, says Governor Umahi Lawmaker sued over failure to repay $10,000 borrowed to fund campaign 2019 budget: Reps uncover errors, discrepancies in MDAs allocations Delta 2019: Don’t vote those who have already lost election — Hon. Iduh •Tilije, Obielum, Okonta, others storm Aniocha North FG’s Tradermoni scheme is a form of vote-buying: Election Observer FG unfolds plan to hike VAT, tax luxury items 5,000 containers trapped at ports as Customs bans third-party clearance

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (442,459 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (400,975 views) Shameless Genevieve Nnaji exposes breasts in public (334,786 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (287,801 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (252,971 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (231,841 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (216,086 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (197,370 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (184,632 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (172,892 views) Lagos plane crash: Journalist releases victims’ names (170,400 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (156,300 views)

 

Samsung invests over $400m in Nigeria’s oil & gas sector

Samsung invests over $400m in Nigeria’s oil & gas sector Samsung Heavy Industries (SHI) says it has invested over 400 million dollars in the Nigerian oil and gas industry since the global shipbuilding giant was awarded the contract to build the Floating Production Storage Offloading (FPSO) vessel for the 200,000 barrels of crude oil per day Egina deepwater field. The contract for...... more

Tough trading climate for Shoprite in rest of Africa

 Tough trading climate for Shoprite in rest of Africa Shoprite’s African operations hit a speed bump as a recession in Angola and sharp devaluations in some of the continent’s currencies dragged down its cross-border revenue. The 17.24% fall in non-SA revenue for the quarter to end-December is a setback for the group, which has long seen its expansion into the...... more

Forex: CBN defends restriction on 42 items

Forex: CBN defends restriction on 42 items  The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Tuesday said the bank’s policy to restrict importers of some 42 items from accessing foreign exchange was the right call of action. Emefiele made this known in Abuja while fielding questions from journalists at the end of the first Monetary...... more

Sanwo-Olu secures $5 billion trade commitment from Swiss investors

Sanwo-Olu secures $5 billion trade commitment from Swiss investors Ahead of the World Economic Forum holding from Jan 22 to Jan 25, 2019 in Davos, Switzerland, the All Progressives Congress (APC) Governorship Candidate in Lagos, Babajide Sanwo-Olu, has highlighted the enormous investment opportunities in the state at an exclusive session with selected Swiss Investors in Geneva. A statement issued yesterday...... more

Refinery: PENGASSAN calls for revocation of Licences

Refinery: PENGASSAN calls for revocation of Licences The Petroleum and Natural Gas Senior Staff Association of Nigeria has expressed its opposition to the current operating model for the nation’s refineries. PENGASSAN, in a statement on Monday, described the model as unsustainable, calling for the adoption of Nigeria LNG Limited’s business model “after the refineries must have been rehabilitated...... more

MTN has paid $53 mln to settle Nigeria dispute: CBN

MTN has paid $53 mln to settle Nigeria dispute: CBN South Africa’s MTN has paid $53 million to settle a money transfer dispute with Nigeria’s central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday. The central bank had ordered MTN and its lenders to bring back a total of $8.1 billion it alleged the...... more

MultiChoice sets R2.5bn aside for maiden dividend

MultiChoice sets R2.5bn aside for maiden dividend MultiChoice Group, which will be directly listed on the JSE after the pay-TV operator parts ways with parent company Naspers, has set aside R2.5bn for dividends to shareholders for the year to March 2020. Naspers said after the market’s close on Monday it would hand its stake in the DStv operator...... more

Hope for African free trade

Hope for African free trade Following the current pace of ratification, the African Continental Free Trade Area Agreement could be in force by mid-year. At 2nd Ordinary Session of the Specialized Technical Committee of the Ministers of Trade, Industry and Mineral Resources, countries were optimistic that the agreement could be in force soon and called for...... more

FG, India move for higher collaborations

FG, India move for higher collaborations The Federal Government and the Republic of India have begun moves to upgrade the mutual relationship existing between them, in areas of human capacity development, e-government, industrialisation, and ICT. This was made known when the Indian High Commissioner to Nigeria, Abhay Thakur paid a courtesy call to the Minister of Communications...... more

Nigeria's $15 billion oil refinery is on track, Dangote says

Nigeria's $15 billion oil refinery is on track, Dangote says Nigerian billionaire Aliko Dangote said he’s on schedule to finish by next year his $15 billion oil refinery, which will be one of the world’s biggest, despite analysts saying the timeline is ambitious. “There are quite a lot of challenges, but we’re moving,” Dangote told reporters at a conference in Paris...... more

Energy group Total to approve Nigeria's Ikike project in coming months

Energy group Total to approve Nigeria's Ikike project in coming months French oil and energy group Total will formally approve a decision to proceed with the Ikike project in Nigeria in the coming months, said chief executive Patrick Pouyanne. “There is a huge potential in Nigeria, it is probably the most prolific country in west Africa in terms of oil and gas...... more

CBN challenges bank customers on failed e-transactions

CBN challenges bank customers on failed e-transactions The Central Bank of Nigeria (CBN), said any failed instant payment transaction not reversed into the customer’s account within 24 hours after complaint by the sender or beneficiary should be reported to CBN The Director, Consumer Protection Department, CBN, Mr Kofo Salam-Alada said this in an interview with the News Agency...... more

Stella Oduah unfolds plans for ICT mall to boost N6.4bn Onitsha market turnover

Stella Oduah unfolds plans for ICT mall to boost N6.4bn Onitsha market turnover Senator Stella Oduah has said that she would build an Information and Communication Technology Mall in Onitsha that will boost the N6.4 billion turnover of the Market. In an interview with the News Agency of Nigeria (NAN) on Sunday, the Senator who represents Anambra North in the Senate, said that the...... more

Alaba traders move against substandard goods

Alaba traders move against substandard goods The Alaba International Market Association has embarked on a raid to rid the market of substandard electronic products. The Public Relations Officer of the association, Mr Eugene Obiezu, said that the exercise was aimed at curbing the inflow of substandard goods to the market. According to Obiezu, the association is poised...... more

CBN assures of Forex for indigenous companies

CBN assures of Forex for indigenous companies The Central Bank of Nigeria (CBN) has reiterated its readiness to facilitate access to foreign exchange by Nigerian companies that wanted to import equipments to ease business growth in the country. The CBN Governor, Mr Godwin Emefiele, said this on Sunday during an inspection of Dangote Refinery in Lagos. The refinery...... more

NNPC strikes $8.441bn Joint Venture deals with SEEPCO, Shell, Agip, others to develop oil leases, boost gas production

NNPC strikes $8.441bn Joint Venture deals with SEEPCO, Shell, Agip, others to develop oil leases, boost gas production In an effort to further consolidate the revenue profile of the Nigeria National Petroleum Corporation (NNPC), the Group Managing Director (GMD) Dr. Maikanti Baru and his management team have taken audacious steps to double investments base of the Corporation. In the last 12 months, the state-owned oil company under Baru and...... more

PenCom to attract 60m enrolees, N3trn growth

PenCom to attract 60m enrolees, N3trn growth The National Pension Commission (PenCom) is set to attract 60 million Nigerians in the informal sector to the pension scheme and hit N3 trillion assets growth. PenCom said the extension of the pension scheme to the informal sector was to ensure that all Nigerians have a good life at old age....... more

Active telecom subscribers in Nigeria over 172m: NCC

Active telecom subscribers in Nigeria over 172m: NCC The Nigerian Communications Commission (NCC) says there were 172,871,094 active subscribers on the telecommunication networks in December 2018, as against 169,104,830 recorded in November 2018. The telecommunications regulator disclosed this in its Monthly Subscriber/Operator Data made available on its website on Saturday. The News Agency of Nigeria (NAN) reports that the...... more

How Konga is bridging e-Commerce gap for millions of unreached, under-served Nigerians

How Konga is bridging e-Commerce gap for millions of unreached, under-served Nigerians For a population of over 190 million, it is perhaps shocking to countenance the fact that about 70% of Nigerians – a whopping 130 million – are still skeptical of shopping online and yet to be captured in the e-Commerce net – an anomaly that Konga’s futuristic business model is gradually...... more

Konga, Visa partner to drive value offerings in e-commerce sector

Konga, Visa partner to drive value offerings in e-commerce sector E-commerce giant Konga has partnered with Visa, the world’s leader in digital payments to revolutionize the e-commerce sector in Nigeria. By leveraging the delivery of digital and secure payments solutions across key segments of the Konga Group’s business portfolio, the strategic partnership is positioned to drive greater efficiency in the sector....... more

CBN spurs access to banking services

CBN spurs access to banking services The Central Bank of Nigeria (CBN) has rolled out measures to ensure that at least 80 per cent of Nigerians have access to banking and other financial services. The apex bank also on Thursday released new policy frameworks on consumer protection, financial literacy and financial education. The bank unveiled measures in...... more

First Bank targets single NPL ratio by year end

First Bank targets single NPL ratio by year end The management of First Bank Nigeria is working tirelessly to ensure that the non-performing loan (NPL) ratio of the company is cut from double-digits to a single digit. Managing Director/CEO of First Bank, Mr Adesola Adeduntan, in an interview, said the company plans to achieve this goal by the end of...... more

Ekeh inspires thousands at RCCG Summit

Ekeh inspires thousands at RCCG Summit Serial digital entrepreneur and Chairman, Zinox Group, Leo Stan Ekeh, has called on Nigerians to believe in the future of the country, noting that the world is currently in a knowledge century in which there are no barriers to wealth acquisition or achieving greatness. He made this call at an economic...... more

Atiku says committed to privatising NNPC

Atiku says committed to privatising NNPC The presidential candidate for Nigeria’s main opposition party said on Wednesday he was committed to privatising the state oil company, weeks ahead of the election that will determine who runs Africa’s top crude-producing country. Atiku Abubakar had stated in his manifesto that he intends to break up the Nigerian National Petroleum...... more

PEF set to track petrol consumption

PEF set to track petrol consumption The Petroleum Equalisation Fund (PEF) says its Sensor Monitoring  Project will help to track the exact quantity of Premium Motor Spirit  (PMS) also known as fuel consumed in the country. The PEF Executive Secretary Alhaji Ahmed Bobboi disclosed this while addressing newsmen, on Tuesday in Abuja. He said that the adoption...... more

CBN, SEC okay takeover of Diamond Bank by Access Bank

CBN, SEC okay takeover of Diamond Bank by Access Bank Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on proposed merger plans. Mr Victor Etuokwu, Access Bank Executive Director, Personal Banking, said in Lagos that CBN and SEC had granted both banks approval in...... more

Stakeholders converge in Abuja for Financial Literacy Confab

Stakeholders converge in Abuja for Financial Literacy Confab National Financial inclusion stakeholders in Nigeria, led by the Central Bank of Nigeria (CBN), will converge in Abuja on Thursday, January 17 and Friday, January 18, 2019, for the launch of key policy documents aimed at facilitating the attainment of the financial inclusion target of 80 per cent by 2020. Policy...... more

Mines, Steel Ministry generates N2.97 billion in 2018 — Minister

Mines, Steel Ministry generates N2.97 billion in 2018 — Minister Alhaji Abubakar Bwari, the Minister of State,  Mines and Steel Development, says the ministry generated  the sum of N2.97 billion as revenue  in 2018 . Bwari announced this while giving a three-year account of stewardship (2016-2018) on Monday in Abuja. He said  that the overall revenue generated  by the ministry from royalties...... more

Air Peace to commence daily flights to PH NAF Base Jan.18

Air Peace to commence daily flights to PH NAF Base Jan.18 Nigerian carrier, Air Peace, has announced plans to commence daily flights into the Nigerian Air Force (NAF) Base in Port Harcourt, Rivers, on Jan. 18. The Corporate Communications Manager of the Airline, Mr Chris Iwarah, made the announcement on Monday in Lagos. Iwarah said the airline would operate from the Murtala...... more

$8.1bn repatriation: HEDA invokes FoI on CBN, demands details of resolution with MTN

$8.1bn repatriation: HEDA invokes FoI on CBN, demands details of resolution with MTN The Human and Environmental Development Agenda Resource Centre (HEDA), a non-governmental organisation and non-partisan human rights and development league, has invoked a Freedom of Information Act on the Central Bank of Nigeria (CBN), asking it for detailed information on the alleged resolution between the apex bank and telecommunication giant, MTN Nigeria,...... more

 

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