Latest Nigeria Business News
The Federal High Court in Abuja on Monday stopped the Economic and Financial Crimes Commission (EFCC) from prosecuting a former Comptroller-General of Customs (CGC), Abdullahi Inde Dikko, for alleged corruption. Justice Nnamdi Dimgba upheld Dikko’s argument that he could not be prosecuted due to an agreement between him and the Attorney-General of the Federation (AGF). […]
Former President Goodluck Jonathan has challenged a former Jigawa State Governor, Sule Lamido, to publish evidence linking him with the controversial $1.6b Malabu Oil (OPL 245) scam. Lamido, in an interview at the weekend, accused the ex-president of trading off the Peoples Democratic Party (PDP) for the All Progressives Congress (APC) in the November 16 […]
A report that Turkey is supplying sophisticated weapons to Nigeria’s terror group, Boko Haram, is receiving attention at very high strategic level of the federal government, THISDAY Newspaper reported. Egyptian Television, Ten.tv, cited by CBN News Channel, had recently reported that Turkey was a major supplier of arms to Boko Haram even as Turkish Airlines […]
President Muhammadu Buhari has called for a strong, effective and proactive regulation of the electricity market across member states of Economic Community of West African States (ECOWAS) by their respective power sector regulatory agencies. He said independent power sector regulators were necessary to ensure quality performance from electricity service providers within the ECOWAS countries. A […]
Nigeria Employers’ Consultative Association (NECA) has applauded the Central Bank of Nigeria (CBN) over it directive to the commercial banks to maintain a minimum Loan Deposit Ratio (LDR) of 60 per cent. The body said this will aid the growth of the real sector of the economy. In a chat with The Nation, Director-General of […]
Goods worth N1.45 trillion are smuggled into Nigeria annually from Benin Republic. This was the revelation from Simon Tsuwan, a representative of the Acting Managing Director, Nigeria Export Processing Zones Authority (NEPZA), David Terhemba Nongo, has revealed. He spoke on the sidelines of a two-day national workshop in Lagos, last week. The workshop, which sought […]
Lagos State Governor, Mr. Babajide Sanwo-Olu, has urged the China Development Bank to increase its investment in Nigeria to $1 billion. The Governor made the request at a meeting with the bank’s President, Mr. Quyang Weimin, while speaking on Lagos State’s infrastructural needs and areas of collaboration with the Bank in Beijing yesterday. A statement […]
The latest ‘Petroleum Products Days Sufficiency’ report from the Petroleum Products Pricing Regulatory Agency (PPPRA) has disclosed that the volume of household kerosene available in Nigeria would last for only 6.3 days. This is just as the country is expected to host the Head of International Secretariat of the global Extractive Industries Transparency Initiative (EITI), […]
The federal government yesterday disclaimed a report that it had lost its appeal against the order of a British commercial court directing it to deposit $200 million as security before the court could grant a stay of execution of the $9.6 billion judgment debt awarded in favour of a British Islands firm, Process and Industrial […]
Two bank officials have been arrested by the Ekiti State Police Command over robbery incident in UBA branch in Oye Ekiti, the headquarters of Oye Local Government Area, on Thursday. The old generation bank was attacked by a seven-man robbery gang around 3PM in two utility vehicles through Ayede Ekiti with a policeman and a […]