Business and Economy

The Chairman of the National Seafarers Welfare Board of Nigeria (NSWBN), Otunba Kunle Folarin has stated that the Nigerian Maritime Administration and Safety Agency (NIMASA) is not responsible for the detained seafarers, but rather has been of immense support and assistance in ensuring they have a better living condition in …

Indications have emerged that one of Africa’s leading digital entrepreneurs and Chairman, Zinox Group, Leo Stan Ekeh may have decided to quit as CEO of his technology group by 2021. One of Mr. Ekeh’s closest confidantes disclosed that, going by his tone at the Zinox Group corporate retreat held in …

By Lilian Okoro and Wumi Ashafa Lagos, Sept. 7, 2018 The Central Bank of Nigeria (CBN)  on Friday said  the alleged deduction of N1.886 billion fine from Stanbic IBTC Bank’s account was in the national interest. An official of CBN, who pleaded anonymity while confirming this to the News Agency …

Nigeria’s partnership with China through the Forum on China-Africa Cooperation (FOCAC) has resulted in the execution of vital infrastructure projects across the country, valued at over $5 billion in the last three years of the current administration. President Muhammadu Buhari disclosed this on Tuesday in Beijing at the FOCAC Round …

A major face-lift came the way of Pacelli School for the Blind and Partially Sighted in Lagos on Friday when Shell Nigeria Exploration and Production Company (SNEPCo) made donations of furniture and air conditioners to the school. This came barely a year after the staff of the company under the …

Dangote has emerged as the most valuable brand among the top 50 brands in Nigeria for 2018 unveiled at the weekend in Lagos. This is coming barely three months after the brand was adjudged the most admired brand of African origin by Consumers in a brand rating coordinated by South …

Beijing, Sept. 3, 2018 China will extend a total of 60 billion U.S. dollars of financing to Africa, Chinese President Xi Jinping announced Monday. The financing will be provided in the form of government assistance as well as investment and financing by financial institutions and companies, Xi said in a …

By Dennis Udoma Total Exploration and Production Nigeria Limited is setting up a N40 Million Soap manufacturing Plant in Ekpene Ukim, Uruan Local Government Area of Akwa Ibom State. The initiative, is in line with the company’s drive to create an environment to encourage sustainable development within host communities in …

By Ismaila Chafe Abuja, Sept.1 President Muhammadu Buhari has approved the appointment of Abbas Umar Masanawa as Managing Director of the Nigeria Security Printing And Minting Company, (NSPMC). The president also approved the appointments of Abubakar Sule Minjibir, Chris Orewa and Tunji Kazeem as Executive Directors in the company. This …

In yet another ground-breaking deal, Sub-Saharan Africa’s foremost distribution company, Technology Distributions Ltd (TD) has been appointed national distributor of Samsung Electronics in the open market channel – a development that is expected to deliver better pricing and availability of Samsung products across the country and beyond. The landmark partnership was …

Members of Marriott Rewards, The Ritz-Carlton Rewards, and Starwood Preferred Guest can combine their accounts to travel all over the world further, faster and easier than ever before DUBAI, United Arab Emirates, August 27, 2018/ — A new era is beginning for the more than 110 million members of Marriott …

Bank Customers Association of Nigeria, BCAN, held its 3rd Biennial Bank Customers Summit on Thursday, August 30, 2018. The theme of the Summit was “Rights and Obligations of Bank Customers,” and the venue was the Lagos Airport Hotel, Ikeja. Pictures by CHINYERE IKEANYI, show some of the dignitaries that graced the …

By Racheal Ishaya Abuja, Aug. 30, 2018 Federal, states and local governments on Thursday shared N714.8 billion revenue generated in July, the News Agency of Nigeria (NAN) reports. The figure indicated a decline of N107.1 billion when compared to what was generated in June. The Minister of Finance, Mrs Kemi …

MTN Group shares plunged as much as 23 per cent to a nine year low on Thursday, a day after Nigeria ordered the telecoms group to repatriate $8.1 billion illegally sent abroad. At trading on the Johannesburg Stock Exchange, MTN shares were down 21.4 per cent at 84.35 rand, after …

…Standard Chartered – N2.4 bn …Stanbic IBTC                      – N1.8 bn …Citibank                              – N1.2 bn …Diamond Bank          – N0.25 bn …writes MTN to refund $8 billion    The Central Bank of Nigeria (CBN) says it has imposed heavy sanctions totaling N5.87 billion on four banks under its regulatory …

By Franklin Ohaegbu & Iyiola Pedro Lagos, Aug. 29, 2018 (NAN) British Prime Minister, Theresa May, was received at the Murtala Muhammed International Airport in Lagos by Gov. Akinwunmi Ambode, accompanied by his deputy, among other state officials. Upon her arrival aboard a Royal Air Force aircraft, May and Ambode …

By Itohan Abara-Laserian Lagos, Aug. 28, 2018 In its drive to ensure that Nigerians have wholesome nutritious meals, especially breakfast, Nestle Nigeria Plc says it will continue to leverage on its Creating Shared Value (CSV) Initiatives to further strengthen the development of local content in its products. The company restated …

A book titled: “Harnessing Nigeria’s Maritime Assets – Past, Present and Future,” authored by the Executive Director, Finance and Administration of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Bashir Jamoh is set to be launched. The book which is a chronicle of events in Nigeria’s maritime industry will …

Following the release Monday of the latest GDP Growth numbers by the National Bureau of Statistics (NBS),the Minister of Budget and National Planning, Senator Udoma Udo Udoma, says government is encouraged by the continuing growth recorded in the non-oil sector, which grew by 2.05% in the second quarter of 2018. …

As part of efforts aimed at giving its loyal customers the best summer shopping experience, Konga, Nigeria’s leading e-commerce giant, has put on sale thousands of products from its massive inventory at unprecedented discounts for its Back to School promotion which runs from Monday August 27th to Sunday September 9th …

By Abujah Racheal Abuja, Aug 25, 2018(NAN) Former governor of Anambra, Mr Peter Obi, has said that Nigeria’s economy is on life support due to the rising debt profile of about N22.7 trillion. Obi disclosed this at the ‘2018 This Generation Conference’ organised by the Summit Bible Church, with the …

Former President of the Senate, Mr Ken Nnamani, has cautioned politicians in the country against desperation for position and relevance. Nnamani made the call while speaking with State House Correspondents after leading a delegation from a foreign firm, Integra Capita Limited, to a meeting with the Vice President, Prof. Yemi …

The Central Bank of Nigeria (CBN) has underscored its intention to increase the flow of credit to the real sector of the economy, in order to consolidate and sustain the nation’s economic recovery. It will be recalled that the CBN Monetary Policy Committee (MPC), at its 119thmeeting held on July …

By Chiazo Ogbolu  MTN Nigeria has unveiled its latest innovation, MTN mPulse, for `tweens’ and teens (ages 9 to 15). The MTN General Manager in charge of Consumer Marketing, Mr Oluwole Rawa, announced this in a statement on Thursday in Lagos. He said that the plan was designed for to …