Latest Nigeria Business News
Enugu State on Tuesday became the first state to commence the implementation of deployment of forest guards to stem an upsurge of insecurity. States in the Southeast had agreed to recruit and deploy guards in the forests. Enugu as one of the safest in the country, recently experienced a spate of kidnapping and killings as […]
LOCAL and foreign collaborators are behind the controversial $9.6 billion (N3.5 trillion) judgment debt against Nigeria, the Federal Government said on Tuesday. A British Court on August 16, awarded the judgment authorizing a firm, Process and Industrial Developments Ltd. (P&ID) to seize Nigerian assets anywhere in the world to the value of $9.6 billion for […]
Investors are seeking safety of principal investment and guaranteed returns as collective investment schemes grow, Capital Market Editor, Taofik Salako reports. Total net asset value of all registered mutual funds in Nigeria rose over a one-year period by 22.8 per cent as investors showed preference for less risky fixed-income funds. Mutual funds, otherwise known as […]
Its Chairman, Lagos Branch, Mr. Peter Ashade, who spoke ahead of a forum the group is planning for Lagos, lamented that this robust electronic service platform has come with a number of concerns and challenges, particularly the perpetration of fraud. He said global electronic fraud last year stood in excess of $31 billion. He said […]
The absence of board for Transmission Company of Nigeria (TCN) has stalled the approval of $258million JICA loan for the implementation of the payment for material and equipment for the Apapa and Akamgba substation in Lagos. It was learnt that the Federal Ministry of Power has urged the new Minister of Power, Engr. Mamman Sale […]
POLICY makers, international financial institutions, value chain players and development agencies will be part of the second Sterling Bank Agriculture Summit Africa billed for September 5 and 6 in Abuja. The summit with the theme “Agriculture – Your Piece of The $1tr Economy,” is geared toward attainment of the $1trillion Africa agribusiness economy dream of […]
The Central Bank of Nigeria is scheduled to roll over maturing bills worth N208bn through the Primary Market Auction across the 91-day (N24.4bn), 182-day (N38.8bn) and 364-day (N145.5bn) tenors. The CBN is also expected to mop up excess liquidity via Open Market Operation auctions this week. Analysts at Afrinvest Securities Limited said the treasury bills […]
President Muhammadu Buhari has approved a 16-man new board of the Niger Delta Development Commission with Dr Pius Odubu from Edo State as the chairman. A statement signed by the Permanent Secretary (General Services Office), Office of the Secretary to the Government of the Federation, Olusegun Adekunle, said that the appointment was subject to the […]
The Executive Vice Chairman and Chief Executive, Nigerian Communications Commission, Prof. Umar Danbatta, says the commission has approved dedicated spectrums for the trial of Fifth Generation services. Danbatta said this in his opening remarks at the first Digital African Week organised by the International Telecommunications Union in Abuja on Tuesday. He emphasised that the commission […]
The National Insurance Commission may reject the plans submitted by some insurance companies on how they planned to meet its recapitalisation requirements. Sources from the commission told our correspondent that some of the companies submitted plans to the commission which did not align with the directives given to them. The commission had instructed the companies […]