Latest Nigeria Business News
An Israeli court on Wednesday ordered a former Australian school principal, suspected of sexual assault, and who Australia is seeking to extradite, released from prison to house arrest. Implementation of the Jerusalem District Court’s decision was delayed until Friday to give the prosecution time to appeal. Australia has been pressing Israel to extradite Malka Leifer, […]
Edo State Governor, Mr. Godwin Obaseki has sacked all Special Assistants and Senior Special Assistants. Governor Obaseki had appointed 192 Special Assistants representing each ward in the state and 54 Senior Special Assistants comprising three persons from each local government areas Obaseki later appointed 18 Special Assistants (females) on Gender. In a letter signed by […]
Stanbic IBTC Pension Managers Limited (SIPML), a subsidiary of Stanbic IBTC Holdings PLC, has announced its plan to sponsor this year’s Art X Lagos. SIPML is sponsoring Art X Modern, a new section dedicated to celebrating pioneers of African modern art from the 20th century. Art X Modern will comprise three galleries: Bloom Art and […]
Sterling Bank Plc is now on SWIFT Global Payments Innovation (GPI). In a statement, the bank said SWIFT GPI has improved the customer experience by increasing the speed, transparency and end-to-end tracking of cross-border payments. The bank’s Executive Director, Corporate and Investment Banking, Yemi Odubiyi said the introduction of SWIFT GPI has transformed cross border […]
Shareholders of NIPCO Plc have approved payment of N563 million as cash dividends for the 2018 business year as the downstream oil and gas company recorded net profit of N1.58 billion. Shareholders will receive a dividend per share of N3. At the Annual General Meeting (AGM) in Abuja, NIPCO Plc Chairman Chief Bestman Anekwe said […]
Electronic payment (e-pay-ment) transactions worth N203.35 trillion were carried out by banks between January and June, this year, Central Bank of Nigeria (CBN) half-year e-payment figures have shown. The data, released at the weekend, showed that the deals occurred through cheques, Automated Teller Machines (ATMs), Point of Sale (PoS), m-Cash, CentralPay, Remita, Nigeria Interbank Instant […]
Union Bank of Nigeria Plc says it has secured $200m funding via a partnership with sub-Saharan Africa financial services group, Atlas Mara Limited. This,it said, was in agreement with Overseas Private Investment Corporation, the US government’s development finance institution. Under the terms of the agreement, Union Bank will receive a 10-year term loan of up […]
The September 14, 2019, attacks on Saudi Aramco, a Saudi Arabian refinery, came as a shock but the effect on global oil market has been mild, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, has said. It was also learnt that the NNPC on Tuesday said Nigeria would make cuts to its crude […]
The naira at the interbank market closed trading in September at N307 against the dollar; information made available on the Central Bank of Nigeria’s website has shown. The N307 against the dollar reported by the CBN was the first time in September. Before now, the CBN kept the naira hovering around N306.85 and N 306.95 […]
The Central Bank of Nigeria sold N11.52tn Treasury Bills through the Open Market Operation in nine months, investigation has shown. OMO is principally used to mop up or inject liquidity into the system as a strategy for monetary management by the CBN. It remains the main tool for liquidity management, complemented by discount window activities, […]