Oxfam: Three Richest Billionaires Hold 40% Africa’s Wealth
An Oxfam International report has revealed that the richest persons in Africa own 40 per cent of the wealth in...
CBN asks banks to dishonour non e-payment instructions
The Central bank of Nigeria (CBN) has mandated deposit money banks in the country to dishonour instructions from public and...
Investors in selling spree as market loses N263bn
Investors in the nation’s stock market have embarked on a selling spree as the market lost N263bn in five consecutive...
Fashola Expresses Doubts over BPP’s N26bn Public Contract Savings
The Minister of Works and Housing, Mr. Babatunde Fashola, has faulted a recent claim by the Bureau of Public Procurement...
Mobile network operators’ assets in Nigeria hit N1.95 trillion
Total assets base of mobile operators in Nigeria increased by 130 per cent between 2017, and 2018, hitting N1.95 trillion...
Trade uncertainty rising in Nigeria, says IMF
The International Monetary Fund has expressed concern over the rise in trade uncertainty in Nigeria and many other economies amid...
UK Steps Up Support for Improved Electricity in Nigeria, Others
The United Kingdom has set up another funding window to improve electricity access to Nigerians and 14 other African countries,...
Shoprite, MTN, Multichoice resume business
Business activities have resumed at various firms owned by South African nationals in Lagos. Our correspondents who went to Lekki,...
Fuel subsidy unsustainable, says FSDH
The Chief Executive officer of FSDH Mer-chant Bank Limited, Hamda Ambah has said the government must provide palliative measures for...
EFCC remands Galaxy boss for diverting $2.8m, N6.5b investors’ funds
Justice Muyiwa Idris of the Federal Capital Territory (FCT) High Court sitting in Nyanya has ordered the detention of the...
Banking sector attracted $1.89bn investment in Q2 – NBS
The banking sector of the Nigerian economy attracted a total of $1.89 billion in the second quarter of 2019. A...
Sell pressure dominates market as investors lose N27.6bn
Sell pressure in the equities market dominated at the start of the week as investors counted losses totalling N27.6bn at...
Nollywood and Nigerian music: Redefining the industry through digital distribution
Over the last three years, the entertainment sector has evolved into a more important segment of the Nigerian economy, on...
Agusto & Co Upgrades Axxela Limited’s corporate credit rating
One of Nigeria’s foremost rating agency, Agusto & Co, has upgraded Axxela Limited’s corporate credit rating from Bbb (stable outlook) to Bbb+ (positive outlook). Speaking on...
Investment in Bankers Acceptances nosedives by 80%
THE biting effects of slow economic growth and tighter regulation have triggered an 80 percent decline in banks’ investment in...
Nigerians’ evacuation begins Wednesday, South Africans insist foreigners must leave
There were fresh protests in eastern Johannesburg on Sunday, with the protesters demanding that “foreigners must go back to where...
U.S. court rules in NNPC’s favour in $2.7b suit
The United States Southern District Court of New York has delivered a significant judgment in favour of the Nigerian National...
Fresh Facts Emerge on AMCON, Shebah E&P Legal Tussle
Following recent media reports on an interim ex-parte order obtained by Asset Management Corporation of Nigeria (AMCON) to appoint a...
Panic over fresh xenophobic protests as malls’ closure lingers
There were fears yesterday that the simmering cold relationship between Nigeria and South Africa leading to the closure of some...
CBN: Federally-collected Revenue Rises by 23% to N932bn
Nigeria’s federally collected revenue (gross) stood at N931.93 billion in July, representing a 22.6 per cent increase compared with the...
Flour mills shareholders approve N1.20k per share dividend
The shareholders of Flour Mills of Nigeria (FMN) have approved the company’s board proposal for the payment of N1.20k per...
Excess crude account depleted by N6.48tn in seven years
Between January 2012 and December 2018, the Federal Government withdrew a whopping sum of N6.48tn from the Excess Crude Account,...
Aircraft seating market to hit $25b
The aircraft seating market is predicted to increase from $18 billion to over $25 billion in the next seven years,...
Access Bank Grows Half-year Profit by 62% to N74bn, Declares 25k Interim Dividend
Access Bank Plc has begun reaping benefits of its merger with the defunct Diamond Bank Plc as it has recorded...
Market indices slump by 1.4% amid loss of investor confidence
It was another period of pullback at the end of last week’s trading on the equities sector of the Nigerian...
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