Latest Nigeria Business News
Access Bank Plc has announced the disbursement of N20 billion loans to beneficiaries in the entertainment industry under the Creative Industry Financing Initiative (CIFI) of the Central Bank of Nigeria. The fund, which represents the first tranche of the loans, was made accessible to the borrowers in the sector. Currently, the Nigeria creative market is […]
First City Monument Bank (FCMB) in collaboration with SystemSpecs Limited, has launched a solution that is focused on aiding different aspects of business operation. In a Memorandum of Understanding (MoU) signing ceremony held in Lagos , the bank said the product is a payroll solution, designed to meet the yearnings of thousands of its SME […]
Conoil Plc has posted a seven per cent growth in its profit after tax, which stood at N1.7bn in the third quarter of the year, compared with the N1.59bn recorded in the same period of 2018. The company’s financial statement, which was made available to the Nigerian Stock Exchange on Monday, showed a 49 per […]
The Central Bank of Nigeria has approved a fresh loan of N19.18bn to nine cotton producing firms with a view to retooling their processing plants. The apex bank has also set aside the sum of N500m to recycle old naira notes being mopped up from the Deposit Money Banks across the country. The CBN Governor, […]
Oyo State Governor, Mr. Seyi Makinde on Monday approved the release of the sum of N526 million as running costs for the 2,500 primary schools and about 640 secondary schools owned by the state government. The state government also confirmed that the sum of N400 million has been advanced to the secondary schools, while the […]
THE battle over the new minimum wage has shifted to the states following the decision of the governors to allow each state to negotiate percentage increase for their workers. The negotiation with labour unions in the states will be based on the financial capability of each state. But the governors agreed to the payment of […]
THE All Progressives Congress (APC) and the People’s Democratic Party (PDP) on Monday clashed over the appeal filed by the Peoples Democratic Party (PDP) and its candidate in the February 23 presidential election Alhaji Atiku Abubakar. PDP and Atiku are challenging the Presidential Election Petition Tribunal (PEPT) judgment validating President Muhammadu Buhari’s victory. The APC […]
President Muhammadu Buhari is scheduled to travel to the United Kingdom (UK) on a private visit on November 2. Details of the visit were sketchy on Monday Night. He is expected back in Nigeria on November 17. The President and his close aides yesterday left the forecourt of the Presidential Villa, Abuja, around 1.25 p.m […]
A Federal High Court Lagos on Tuesday further adjourned hearing until Jan. 30 and Jan. 31, 2020, a suit filed by MTN Nigeria Communication Ltd, against the Attorney General of the Federation, over alleged N242 billion and 1.3 billion dollars import duties and withholding tax assessments. News Agency of Nigeria (NAN) reports that MTN instituted […]
The Central Bank of Nigeria (CBN) says henceforth, any company registered to operate as a National Currency Processing Companies (CPC) must have a minimum capital of three billion naira. The CBN made this known in a guideline released on its website on Monday. The bank explained that such companies should be incorporated in the country […]