Latest Nigeria Business News
The Nigeria Association of Auctioneers has chided the Acting Chairman of the Economic and Financial Crimes Commission, Mr Ibrahim Magu, over his announcement that the commission would engage foreign auctioneers to sell the jewellery and houses seized from a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke. The association noted that it was an insult […]
There are fears among members and supporters of the Indigenous People of Biafra (IPOB), that the attempt by security agencies to re-arrest the leader of the group and Director of Radio Biafra, Nnamdi Kanu, may prevent him from attending his mother’s (Sally Meme Kanu’s) funeral. This is even as an Abuja Court presided over by […]
Former Governor of Imo State, Senator Rochas Okorocha, has expressed fear that the ruling All Progressives Congress (APC) may lose power in 2023 if nothing is done urgently to re-position its leadership. Okorocha, who spoke in Kano yesterday against the back drop of the protracted feud between the APC National Chairman, Adams Aliyu Oshiomole and […]
Telecommunications giant, Globacom, has reclaimed its position as the second largest telecommunications operator with 2 million new subscribers added to the network in September, 2019. According to latest statistics released by the Nigerian Communications Commission (NCC) for September, 2019, Globacom set a new record in the industry, gaining 1,945,846 new subscribers to arrive at a […]
Despite the lull in the economy, Continental Reinsurance Plc achieved modest success at the outgoing business year. At the just concluded 32nd Annual General Meeting of shareholders, the company reported its full-year results for 2018 that show a 22% increase in pretax profit. Gross premium income increased by a sturdy 15% to N34.19billion while underwriting […]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari is billed to address participants at the 2019 edition of the Oil and Gas Masters’ Ball Africa (OGMB). The event, scheduled for Sunday November 24, at the Civic Centre, Victoria Island Lagos, will have a gathering of over 500 oil […]
The Nigeria Customs Service and Masters Energy Commodities Trading Limited, owners of some of the containers of rice recently seized by the former, have disagreed over the dates when the seizures were made. While the Customs on Friday insisted that the rice containers were recently impounded, the importer, Masters Energy, said they were seized by […]
The Nigerian Content Development and Monitoring Board has said that indigenous oil firms have accessed 90 per cent of the $200m Nigerian Content Intervention Fund. The Executive Secretary, NCDMB, Mr Simbi Wabote, said this in Abuja during a visit by the new executive committee of the Shipowners Association of Nigeria to the board, according to […]
Google will pay $7.35 per share for Fitbit, a wearables company in an all-cash deal that values Fitbit at $2.1bn. Relatively speaking, this is a great landing for Fitbit, as reported by TechCrunch. The company’s price has fluctuated significantly as it worked to adjust to a changing market and fumbled on some of its more recent […]
The governors of the African Development Bank, representing shareholders from 80 countries, have approved $115bn increase in capital for the continent’s foremost financial institution. The approval was made at an extraordinary shareholders meeting held on Friday in Abidjan. The capital increase, which was regarded as the largest in the history of the bank since its […]