Business and Economy

By Cecilia Ijuo Abuja, May 9, 2019 President Muhammadu Buhari has asked the Senate to confirm the appointment of Mr Godwin Emefiele as Central Bank of Nigeria(CBN) Governor for the second and final term of five years. The President of the Senate, Dr Bukola Saraki, made the disclosure in Abuja …

By Fabian Ekeruche Lagos, May 8, 2019 Mr Nnamdi Okonkwo, the Managing Director of Fidelity Bank Plc, on Wednesday pledged greater support to customers of the bank at the Alaba Trade Fair complex in Lagos. Okonkwo told newsmen that the bank does not only serve the corporate class but also …

                       ABUJA The interbank segment of the Foreign Exchange Market has received a boost of $205 million from the Central Bank of Nigeria (CBN) following the sales concluded on Tuesday, May 7, 2019. Figures obtained from the CBN indicated that …

Zenith Bank Plc, the largest bank in Nigeria by tier-1 capital and the foremost provider of financial services to multinationals, corporates and SMES in the country, has affirmed its commitment to accord  its growing retail business the same attention and focus that has enabled it become the leading corporate bank …

By Itohan Abara-Laserian Lagos, May 6, 2019 The Lagos State Ministry of Agriculture on Monday said that it had impounded about 30 tonnes of cow skin, popularly known as “Ponmo”, believed to be unsafe and unhealthy for consumption. The Commissioner for Agriculture, Mr Oluwatoyin Suarau, said in a statement by …

Oil export from oilfields in parts of Bayelsa State has resumed as Aiteo Eastern Exploration and Production Company on Friday said that it has concluded repairs on the 97 km Nembe-Bonny export line that was breached on April 21 by unknown vandals. Mr Ndiana Mathew, Spokesman of Aiteo, operator of …

ABUJA – More details have emerged concerning why a faceless group, Awareness for Good Governance Group (AGGG) called for the removal of Dr. Okwu Joseph Nnanna as the chairman of the Nigerian Export-Import Bank (NEXIM Bank) over allegations of fraud at the Bank. Investigation revealed that the call for Nnanna’s …

By Taiye Elebiyo-Edeni Abuja, May 2, 2019 The Minister of Transportation, Rotimi Amaechi on Thursday urged the newly appointed Board Members of the Nigeria Railway Corporation (NRC) not to slow down  ongoing efforts at revitalising the country’s railway system. Amaechi said the ministry was determined to ensure swift execution of …

By Moji Eniola Ikeja, May 2, 2019 Arraignment of Mr Herbert Wigwe, Group Managing Director of Access Bank Plc, and eight others charged with $6.3 million fraud, was on Thursday stalled  due to absence of Wigwe and six others. The News Agency of Nigeria (NAN) reports that Wigwe was to …

By Solomon Asowata Lagos, May 1, 2019 Nigerian carrier, Air Peace says flight operations to Sharjah, United Arab Emirates, and other international flights will commence in the next few days. The airline made this known in a statement signed on Wednesday by its Communications Manager, Mr Chris Iwarah, in Lagos. …

By Ugonne Uzoma Owerri, April 30, 2019 Gov Rochas Okorocha has said that the Sam Mbakwe International Cargo Airport is ready and will be inaugurated in the second week of May, The Chief Press Secretary to the governor, Mr Sam Onwuemeodo made the disclosure in a statement issued in Owerri …

By Abiemwense Moru Abuja, April 30, 2019 The House of Representatives on Tuesday said the National Assembly (NASS) would transmit the approved 2019 Budget of N8.92 trillion to President Muhammadu Buhari on Thursday. Chairman of the House Committee on Appropriation, Rep. Mustapha Dawaki, made this known while briefing newsmen after plenary …

By Olanrewaju Akojede/Joan Odafe Lagos, April 29, 2019 Prof. Moji Adeyeye, the Director-General, National Agency for Food and Drug Administration and Control (NAFDAC), on Monday said the Federal Government would pay more than N1 billion as compensation to the companies that had their codeine  impounded more than a year ago. Adeyeye …

The G-Class is the top model among luxury off-road vehicles. It is not only the passenger car model series with the longest production run in the history of Mercedes-Benz, but also the forefather of all SUVs to bear the three-pointed star – this is why all Mercedes off-road models feature …

The management of Aiteo Eastern Exploration and Production, has announced the appointment of senior executives to drive the operations of the indigenous oil firm. According to a statement issued by Aiteo’s Spokesman on Saturday the exercise follows a review of its operational and investment objectives and in reaction to prevailing …

By Cecilia Ologunagba Abuja, April 26, 2019 The National Bureau of Statistics (NBS) has said that Akwa Ibom reported the highest unemployment rate of 37.7 per cent in third quarter 2018. NBS said this in its Labour Force Statistics – Volume 2: Unemployment and Underemployment by State for Third Quarter, …

By Yunus Yusuf Lagos, April 25, 2019 ExxonMobil says it is  committing $5.7 million (N2.052billion) to support local and global organisations working to eliminate malaria around the world. Mr Oge Udeagha, Manager, Corporate Communications and External Relations of the company said this in a statement issued in Lagos on Thursday. …

The lingering feud between the Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigeria Liquefied Natural Gas (NLNG) Limited amplify the dreaded question of sanctity of agreements in the Nigerian business environment. It is obvious that the festering legal contest activated by the gas processing company is solidly based on …

The Governing Board of the Nigerian Maritime Administration and Safety Agency (NIMASA) has approved the promotion of the Nigerian Alternate Permanent Representative at the International Maritime Organisation (IMO), Mr. Dikko Bala, to Director. Also elevated to the position of Director in the Agency was the Deputy Director, Maritime Labour Services, …

By Abbas Bamalli Kano, April 20, 2019 The Dean of Dangote Business School, Bayero University Kano, Prof. Murtala Sagagi, says there are currently over four million jobless people in Kano due to poor development agenda of successive governments. The Dean disclosed this in a paper he presented at a forum …

The Chairman of the Association of African Maritime Administration (AAMA), Dr. Dakuku Peterside has reiterated the commitment of the African body to build a competitive maritime sector in Africa through continuous engagements and sharing of ideas. The AAMA Chair who spoke during the 3rd session of the Executive Council (EXCO) of …

In the first quarter ended 31 March 2019, Zenith Bank Group recorded improved numbers across key metrics, driven by a solid performance in all business segments. This resulted in a Profit before Tax (PBT) of ₦57 billion, representing a 6% growth over the ₦54 billion achieved in the corresponding period …