Latest Nigeria Business News
Justice Tanko Mohammed, the Chief Justice of Nigeria (CJN) on Wednesday led five other Justices of the Supreme Court to hear about six appeals in the case filed by the PDP and its presidential candidate, Alhaji Atiku Abubakar, challenging the victory of President Muhammadu Buhari in the Feb. 23 poll. The other Justices are Bode […]
The Federal High Court, Abuja, on Wednesday, adjourned for hearing the bail application filed by the former Chairman of defunct Pension Reform Task Team, Abdulrasheed Maina, until Nov. 6. Justice Okon Abang gave the ruling after taking the arguments of the defence and prosecution counsel. News Agency of Nigeria (NAN) reports that Maina is being […]
The Supreme Court is set to begin hearing on the appeal filed by the Peoples Democratic Party (PDP) and its Presidential candidate, Atiku Abubakar challenging the election of President Muhammadu Buhari. The 7-man panel is headed by the Chief Justice of Nigeria, Justice IbrahimTanko Mohammed. Other members of the panel are Bode Rhodes-Vivour, Olukayode Ariwoola, […]
The Court of Appeal Sokoto Division on Wednesday returned Sen. Ibrahim Danbaba and Balarabe Kakale as Senator and House of Representative member in the National Assembly, respectively. In a short judgement read by Justice Frederick Oho, the court said that the appeal filed by Danbaba and Kakale both candidates of Peoples Democratic Party (PDP) during […]
Investors in the nation’s stock market have resumed sell-offs as the market reverted to its losing trend, shedding N68.2bn in one day. Major sell-offs were witnessed in MTN Nigeria Communications Plc, Guaranty Trust Bank Plc and Lafarge Africa Plc, which dragged the benchmark index down by 53 basis points to 26,244.39bps as market capitalisation fell […]
The House of Representatives on Tuesday concurred with the Senate by passing a bill amending the Offshore and Inland Basin Production Sharing Contract Act 2014. In an accelerated process, the House considered the bill for second and third readings at the plenary. Our correspondent later obtained a copy of the bill. Among others, the lawmakers […]
The Minister of State for Petroleum Resources, Chief Timipre Sylva yesterday said oil production cost in the country is one of the highest in the world at double digits. He said countries such as Saudi Arabia and United Arab Emirates (UAE) are producing crude oil between $5 and $6 per barrel while it is presently […]
Seplat Petroleum Development Company Plc has posted its unaudited results for the nine months ended 30 September 2019 declaring a $29million interim dividend to shareholders. The results were released to the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE). The company also highlighted that its recent £382million cash acquisition of Eland Oil and Gas […]
The National Insurance Commission ( NAICOM) yesterday in Lagos said it has granted no objection to 44 insurance companies to proceed with their recapitalisation plan. Its Acting Commissioner, Mr. Olorundare Thomas who spoke during an interactive session with shareholders said two companies have concluded plans to merge. Represented by the Director, Policy and Regulation Directorate, Mr.Pius […]
The Central Bank of Nigeria (CBN) on Tuesday said it was working on getting operational framework that will improve the security and operation of financial technology firms. CBN Deputy Governor, Financial System Stability, Mrs. Aishah Ahmad, who disclosed this at the Nigerian Fintech Week held in Lagos, said the regulator was planning more infrastructure in […]