Latest Nigeria Business News
The Central Bank of Nigeria has set new limits for banks and other financial institutions on non-performing loans to reflect in their books The bank disclosed this in its exposure draft on prudential guidelines to microfinance banks, Deposit Money Banks, Mortgage refinance companies, finance companies, and Development Finance Companies. For the Mortgage Refinance Corporation, it […]
Cornerstone Insurance Plc has returned to profitability. Its 2018 financial year end. Its Profit before Tax for 2018 stood at N2.66 billion. This is coming after a period of losses. The company’s Gross Premium Written (GPW) for the financial year ended December 31, 2018 stood at N11.5 billion, an increase of 25 per cent from […]
The All Progressives Congress has commenced the screening of the 16 aspirants who collected nomination forms for the Kogi State governorship election holding November 16. This follows the inauguration of the screening committee by the party’s national chairman, Mr Adams Oshiomhole. The committee is headed by Senator Hope Uzodinma. The screening commenced on Thursday at […]
The Board of Directors of Zenith Bank Plc has approved the appointment of Mr. Henry Oroh as Executive Director of the bank. The appointment is consistent with the bank’s tradition and succession strategy of grooming leaders from within. Also, the Board has approved the appointment of Dr. Al-MujtabaAbubakar, FCA, as an Independent Non-Executive Director. Both […]
President Muhammadu Buhari has approved wide ranging reforms in the broadcasting industry, including the licensing of online radio and television stations, Information and Culture Minister Lai Mohammed said yesterday. Mohammed told a delegation of the Broadcasting Organisations of Nigeria (BON) that visited him in Abuja that “WebTVs and radio stations, including foreign broadcasters beaming signals […]
The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu has declared the agency will fish out some of the 77 Nigerian suspects involved in massive wire fraud schemes in the United States. He said he suspected that the number of Nigerian suspects would be more than 77 going by the […]
THE Kogi State National Assembly/State Assembly Election Tribunal on Friday voided the election of Dino Melaye as the Senator representing the Kogi West Senatorial District. The three-man tribunal was unanimous that the election that produced Melaye of the Peoples Democratic Party (PDP) as a Senator was flawed. The tribunal, led by Justice A.O. Chijioke, upheld […]
TheFederation Accounts Allocation Committee on Thursday shared a total of N769.52bn to the three tiers of government for the month of July 2019. The amount was shared at a meeting which held at the headquarters of the Ministry of Finance in Abuja. The N769.523bn comprised revenue from Value Added Tax, Exchange Gain and Gross Statutory […]
The Fiscal Governance and Institutions Project (FGIP), a collaborative program between the Federal Government and the World Bank will strengthen revenue management and accountability in the use of public funds. The Auditor-General of the Federation (AuGF), Mr. Anthony Ayine, disclosed this during courtesy visits to the Federal Inland Revenue Service (FIRS) and the Nigeria Customs […]
The Federal Government on Friday said it would enroll members of the Newspaper Vendors Association of Nigeria in the N-Power programme. This was revealed by the Minister of Labour and Employment, Dr Chris Ngige, in a statement signed by the Deputy Director, Press and Public Relations at the ministry, Charles Akpan. Speaking while receiving members […]