Latest Nigeria Business News
The Trade Union Congress on Friday condemned the Federal Government’s plan to increase electricity tariff by 2020. In a statement signed by the President of the union, Quadri Olaleye, and the Secretary General, Musa-Lawal Ozigi, the TUC rejected the reason offered by the government that new tariff would ensure regular power supply, saying that for […]
The Federal High Court in Abuja on Friday ordered the Minister of Petroleum Resources, President Muhammadu Buhari, to grant the renewal of the Oil Mineral Lease 11 to Shell Petroleum Development of Nigeria without the reduction in the size of its field coverage. Justice Taiwo Taiwo, in his judgment delivered on Shell’s suit, however, ruled […]
President Muhammadu Buhari has approved the reshuffle and posting of permanent secretaries and accounting officers, following the creation of new ministries. During the swearing-in of new ministers on Wednesday, the President announced the creation of five new ministries. They are Ministry of Power, Ministry of Police Affairs, Ministry of Aviation, Ministry of Special Duties and […]
The Central Bank of Nigeria has set lending limits for banks and other financial institutions under its regulation to reduce their exposure to risks. The bank disclosed this in its guidelines to microfinance banks, Deposit Money Banks, mortgage refinance companies, finance companies, and Development Finance Companies on Friday. On the on lending limits to the […]
The Securities and Exchange Commission has said it will engage the Central Bank of Nigeria to seek the inclusion of e-Dividend Mandate Management System fee in the guidelines of bank charges. The acting Director-General, SEC, Ms Mary Uduk, said this at a press briefing in Lagos on Friday after a meeting of the Capital Market […]
A road accident on Thursday claimed 17 lives in Kwara State. The accident also left two persons injured. The unfortunate incident occurred at Bacita Junction on Jebba/Ilorin highway, Moro Local Government Area. The accident involved an 18-seater Toyota Hiace passenger bus and an articulated DAF container truck. The accident was said to have been caused […]
The Economic and Financial Crimes Commission (EFCC) on Thursday quizzed some management staff of the Kwara State Scholarship Board over alleged N150 million bursary fraud. Those interrogated by the operatives of the commission’s Ilorin Zonal Office include the board’s chairperson, Hajia Fatimoh Yusuf, Executive Secretary Fatai Lamidi and Accountant, Stephen Ajewole, among others. As at […]
The Federation Accounts Allocation Committee (FAAC) on Thursday shared N769.523 billion to the three tiers of government as July allocation. The N769.523 billion comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory revenue. The committee announced that as at August 22, the balance in the Excess Crude Account was $274.407 million. The gross […]
Unity Bank has held the maiden edition of SME Clinic in conjunction with Signal Alliance and Businessday. The event was part of a collaborative initiative to consistently promote Small & Medium Enterprises (SMEs) in the country. The SME clinic was designed to boost SMEs operators in leveraging effective branding and marketing strategy expected to play […]
President Muhammadu Buhari has confirmed the reappointment of Mr. Afolabi Imoukhuede as the Senior Special Assistant (SSA) to the President on Job Creation. The reappointment is with immediate effect. A letter by the Secretary to the Government of the Federation (SGF), Boss Mustapha, said Imoukhuede will continue to oversee the implementation and expansion of the […]