Latest Nigeria Business News
Majority of oil companies operating in the Niger Delta region owe the Niger Delta Development Commission over N1.2tn debt, an agent of the commission, Paris Trust Limited, has said. According to the agent, the money is an accumulation of dues payable to the NDDC, which the oil firms had failed to remit since 2015. PTL […]
The Enugu State government has sacked 10 secondary school teachers and suspended about 200 others for alleged misconduct. Another 500 teachers have also had their salaries seized as a disciplinary measure to make the system functional. The Chairman, Post Primary School Management Board, Mr Nestor Ezeme, who disclosed this on Wednesday when the state Assembly […]
The National Hajj Commission of Nigeria has said that it is set to transport all Nigerian pilgrims back home, beginning from Saturday, August 17. The Commissioner in charge of operations, Alhaji Saleh Modibbo, gave assurance during the Post-Arafat meeting attended by stakeholders in hajj operations on Friday in Makkah. According to him, the first return […]
The Nigerian Correctional Service formerly called Nigerian Prisons Service has said that the new law governing the service will transform inmates into better citizens, more useful to the society. Mr Francis Enobore, the Public Relations Officer of the Service, told News Agency of Nigeria on Friday in Abuja that the law targeted at complete reformation of the […]
EKITI State Governor Kayode Fayemi on Thursday rebuffed the opposition by the aggrieved 17 prominent traditional rulers arising from the appointment of Alawe of Ilawe-Ekiti, Oba Adebanji Alabi, as the chairman of the traditional rulers’ council. The aggrieved monarchs had filed a suit at Ado-Ekiti High Court seeking the nullification of the appointment. According to […]
THE Lagos State House of Assembly ad hoc committee screening Governor Babajide Sanwo-Olu’s commissioner-nominees and advisers resumed the exercise yesterday with the final batch of 13 nominees it received over the weekend. On Thursday, the 16-man committee chaired by the Chief Whip, Rotimi Abiru, screened seven of the 13 nominees. The remaining six will take […]
The board of directors of Lift Above Poverty Organisation Microfinance Bank has increased its share capital from N2bn to N3.5bn. The Chairman of the national microfinance bank, Mr Ede Osayande, disclosed this during its 8th annual general meeting in Lagos. In a statement, the chairman said, “The board of directors proposed to shareholders to consider […]
The Central Bank of Nigeria has auctioned a total of N184bn worth of Treasury bills in two consecutive days. The CBN, upon resumption from the Sallah break on Wednesday, conducted a Primary Market Auction, rolling over maturing T-bills worth N34.4bn across 91-day, 182-day and 364-day tenors. On the 91-day, N4.38bn was offered at 9.70 per […]
The National Insurance Commission has approved the appointment of Mr Babatunde Fajemirokun as the managing director and chief executive officer of AIICO Insurance Plc with effect from August 14. Prior to Fajemirokun’s appointment, Mr Edwin Igbiti was the managing director/chief executive officer of the company. Igbiti retired on July 11, 2019 after 27 years of […]
The nation’s stock market shed a further N15bn on Thursday as losses in stocks, led by Ecobank Transnational Incorporated, dragged the market lower. The market capitalisation of equities listed on the Nigerian Stock Exchange dropped from N13.198tn on Wednesday to N13.153tn on Thursday. The All-Share Index declined by 0.11 per cent to 27,052.93 basis points […]