Latest Nigeria Business News
The Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay, on Thursday declared that about N1 trillion has been recovered from proceeds of corruption perpetrated by Nigerians in the country. According to him, that figure did not include those recovered from outside Nigeria. He spoke with State House correspondents after meeting with […]
The Independent National Electoral Commission (INEC ) says it has deployed 26,000 ad hoc staff for the Nov. 16, Kogi and Bayelsa governorship poll. INEC Chairman, Prof. Mahmood Yakubu said this during a visit to the commission’s office at Koton-Karfe in Kogi on Thursday. “I want to tell you that for the Kogi and Bayelsa […]
The Nigerian Stock Exchange and the Luxembourg Stock Exchange have signed a Memorandum of Understanding to cooperate in promoting cross listing and trading of green bonds in Nigeria and Luxembourg. The announcement was made at the signing ceremony led by the Chief Executive Officer, NSE, Mr Oscar Onyema, and Chief Executive Officer, LuxSE, Robert Scharfe, […]
Airtel Africa Plc has announced a partnership with Mastercard to give over 100 million Airtel mobile phone users across 14 African countries access to Mastercard’s global network. The company said in a statement on Tuesday that the Mastercard virtual (non-plastic) card allowed Airtel Money customers, even those without a bank account, to make payments to […]
The Nigerian electricity supply industry lost a sum of N472.23bn between January and September this year, according to reports put together by the Advisory Power Team in the Office of the Vice President. The daily reports of the power sector performance show that the industry loses between N1.5bn and N2bn every day. It was also […]
Ikeja Electric Plc has inaugurated its franchise centres at six locations as part of its strategy to improve service delivery to customers. The locations, Olowora, Ikosi, Arepo, Bariga, Ketu and Ogudu, are within the Shomolu Business Unit of the power distribution company. The Ikeja Electric Franchise project is a business strategy aimed at facilitating improved […]
The World Bank and the International Monetary Fund on Wednesday faulted Nigeria’s economic recovery claim, and listed Nigeria among some African countries with weak economic recovery. The World Bank’s stand was contained in the 20th edition of Africa’s Pulse, the World Bank’s twice-yearly economic update for the region. The Bank stated, “Beyond Sub- Saharan Africa’s […]
Despite low-yield environment, four leading banks generated N281bn from investing in Treasury Bills and Federal Government bonds in a half year ended June 30, 2019 audited result and accounts. This is an increase of 19.5 per cent from N235.4bn generated by the same four banks in the prior H1 2018 audited result and accounts released […]
A N3-billion high-tech greenhouse nursery that is capable of producing between 300 and 350 million tons of hybrid tomatoes seedlings has been established as part of Dangote Tomatoes Processing Plant in Kano. The goal is to make Nigeria self-sufficient in tomatoes production. The Managing-Director of the Farm, Mr. Abdulkarim Lawal Kaita said in Kano that […]
THE Nigerian National Petroleum Corporation (NNPC) has raised an alarm on the increasing menace of oil pipeline vandalism which rose to 228 points in July this year alone. Its July, 2019 Monthly Financial and Operations Report (MFOR) said the breached lines represented an increase of 115 per cent from the 106 vandalised points recorded in […]