Latest Nigeria Business News
A total of nine banks listed on the Nigerian Stock Exchange are reducing the size of their non-performing loans in an attempt to meet the five per cent threshold prescribed by the Central Bank of Nigeria. The CBN in August had set new limits for banks and other financial institutions on the NPL to reflect […]
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said that fossil fuel will remain relevant in the global energy mix for decades to come. He said contrary to assumptions in some quarters, crude oil demand would be very high even beyond 2040. Kyari said this on Wednesday in his office […]
.Targets nine per cent inflation by 2020 The Central Bank of Nigeria (CBN) yesterday said banks that fail to meet its directive on 60 per cent loan to deposit ratio will be sanctioned by October 1. CBN Governor, who spoke in London, said most of the banks have obeyed CBN’s directive to raise loan-to-deposit ratio […]
The National Insurance Commission (NAICOM) has received the recapitalization plans of 47 insurers and two reinsurers. This is coming following the circular issued by the commission directing companies to submit their recapitalisation plans by August 20, 2019. This was disclosed by the Head, Commissioner for Insurance’ Directorate, Rasaaq Salami, in a statement. In the statement, […]
…Senate rolls out legislative agenda President of the Senate, Ahmad Ibrahim Lawan, on Wednesday charged standing committees of the upper chamber to ensure the discharge of their duties with a view to addressing major challenges facing the nation. Lawan gave the charge in his remarks during the inauguration of the standing […]
It was a night filled with magnificence and splendor as music lovers and fun seekers were treated to topnotch entertainment at the Zenith Bank Aspire Music Festival which held on Saturday, September 21, 2019 at the Harbour Point Event Centre, Victoria Island, Lagos. The musical festival lived up to its billing as the […]
The Senate on Tuesday summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami to brief it on the details of the $9.6billion judgement awarded against Nigeria and the 2010 Gas contract to the Process and Industrial Development (P&ID) Limited. This followed a motion for a matter of urgent public importance moved […]
Labour leaders and Federal Government officials will meet between tomorrow and Friday to unlock the stalemate over the payment of the N30,000 minimum wage. Minister of Labour and Employment Chris Ngige said the government had commenced payment of the new wage from Levels 1 to 6 workers. But Labour leaders accused the government of insincerity. […]
President of the Senate, Senator Ahmad Lawan, on Wednesday, said that the Senate would pass the Petroleum Industry Bill (PIB) before the end of 2020. It could be recalled that efforts to reform the nation’s petroleum industry in the last two decades have not yielded result. Lawan made this known in his speech while inaugurating […]
The Minister of Finance, Budget and National Planning has appointed Yunusa Tanko Abdullahi as Special Adviser on Media and Communications. Abdullahi whose appointment took effect from 1st September 2019 is a civil servant, journalist, photographer with specialisation in media and communications management in both private and public sectors. Yunusa Abdullahi, a graduate of English from […]