Latest Nigeria Business News
Nigeria has lost about $10bn (about N3.6tn) over the past five decades in non-oil export opportunities in crops such as cocoa, oil palm, cotton and groundnut alone. The Managing Director/Chief Executive Officer, Nigeria Export-Import Bank, Mr Abubakar Bello, disclosed this while delivering a keynote address at a finance conference in Lagos. He said, “It has […]
The Central Bank of Nigeria and Financial Reporting Council of Nigeria sanctioned four commercial banks between January and June for various infractions, our correspondent has learnt. It was learnt that the apex bank imposed a number of sanctions on the banks for failure to comply with its Know-Your-Customers guidelines and in the anti-money laundering requirement. […]
A SPIRITED assault to set aside the $9.6 billion arbitration judgment against Nigeria has been launched by the Federal Government. A government’s high-powered team is in London ahead of Thursday’s court session in the matter against Process and Industrial Development (P&ID). Besides, the Economic and Financial Crimes Commission (EFCC), which secured conviction and forfeiture order […]
Unknown gunmen suspected to be kidnappers have abducted a Peoples Democratic Party ( PDP) chieftain Ben Akile on zaki biam on Katsina-Ala road in Benue North-East senatorial district, Benue state. Ben Akile was on his way from Zakibiam to Katsina-Ala town for PDP zonal meeting with Senator Gabriel Suswam. The meeting was to discuss and […]
Zimbabwen President, Emmerson Mnangagwa, said on Monday that former President Robert Mugabe died of advanced cancer and had already been taken off chemotherapy. Mnangagwa told supporters of the ruling party ZANU-PF in New York that Mugabe had to be taken off the chemotherapy because it was no longer effective. Mnangagwa is in the U.S. for […]
The Network of International Human Rights Organisations and Coalitions say it may soon adopt detained Publisher of Sahara Reporters, Mr Omoyele Sowore, as a “Prisoner of Conscience”. The Civil Society Network Against Corruption (CSNAC) said on Monday in Lagos that it was working with renowned rights groups across the world to ensure that Sowore was […]
An Oredo Magistrate Court has sentenced an 18-year old boy, Chetamu Ominyi, to five months imprisonment for assaulting and stealing the cell phone of a policeman, Sergeant Danguma Abdul. Chetamu was said to have committed the offence on September 18, 2019 at Adesuwa Junction off Mission Road, Benin City. Sergeant Abdul was going to have […]
The Federal Government has listed a total of N295.9m of its series 60 and 61 of its savings bond on the Nigerian Stock Exchange. The NSE said in a circular on Friday that the bonds were listed on its daily official list on Wednesday, September 18, 2019. It said the series 60 bonds, which would […]
Wapic Insurance Plc has revealed its plans to raise N5.9bn through a rights issue. This comes after the recent increase in the minimum share capital of insurers by the National Insurance Commission. On May 20, NAICOM issued a circular on the increase in the minimum paid-up share capital of all classes of insurers ― insurance […]
The nation’s stock market has shed a further N39bn week-on-week as the losing streak extended. Last week, the market traded mostly negative, with three out of five sessions closing in the red. The All Share Index ended the week 29 basis points in the red, driven by profit-taking on select stocks. Selloffs in Airtel Africa […]