Tuesday, May 21, 2019

Business

Latest and Trending Business News All Across The Globe

Bitcoin mobile payments arrive at Whole Foods, other major retailers

Bitcoin mobile payments arrive at Whole Foods, other major retailers

7 days ago
A number of major retailers, including Whole Foods and Bed Bath & Beyond, now accept Bitcoin payments made with the Flexa SPEDN app. A...
NSE delists Newrest ASL

NSE delists Newrest ASL

1 week ago
The Nigerian Stock Exchange (NSE) opened for the week on Monday still on a bearish trend, amid sell pressure and delisting of Newrest ASL...

Ondo Assembly Summons Chevron To Appear May 14

2 weeks ago
The Ondo State House of Assembly has directed the Chevron Nigeria Limited to come and address the house on its inability to quench the...
How Shell, Eni allegedly used Nigeria’s oil to fund billion dollar bribery scheme

How Shell, Eni allegedly used Nigeria’s oil to fund billion dollar bribery scheme

4 weeks ago
A new analysis has found that oil giants Shell and Eni’s controversial deal for a Nigerian oil licence included unprecedented terms which funded an...
GTBank Chairman Osaretin Demuren, MD Segun Agbaje risk imprisonment over alleged contempt

GTBank Chairman Osaretin Demuren, MD Segun Agbaje risk imprisonment over alleged contempt

4 weeks ago
The Managing Director of Guaranty Trust Bank (GTBank), Segun Agbaje, its Chairman, Mrs Osaretin Demuren and the Company Secretary, Erhi Obebeduo, are expected to...
NCC reveals next action for those involved in fraudulent registration

NCC reveals next action for those involved in fraudulent registration

4 weeks ago
The Nigerian Communications Commission (NCC) says that it will henceforth prosecute those involved in fraudulent registration of SIM card. The commission said it would no...
NCAA To Demolish Globacom Masts, Others' After 30-Day Ultimatum

NCAA To Demolish Globacom Masts, Others’ After 30-Day Ultimatum

4 weeks ago
The Nigerian Civil Aviation Authority (NCAA) has issued Globacom Limited and other Global System for Mobile Communications (GSM) operators 30 days ultimatum to remove...
NAFDAC warns against consumption of two brands of canned sardine

Owner Of Fake Yoghurt Factory Busted By NAFDAC, In Yobe State

1 month ago
The National Agency for Food and Drug Adminstration and Control (NAFDAC), has closed down RUQAYYA Yoghurt factory, in Lai Lai ward of Potiskum LGA,...
FCMB organises free training, urges SMEs to drive economic growth

FCMB organises free training, urges SMEs to drive economic growth

1 month ago
On Saturday, April 13, 2019, First City Monument Bank (FCMB) hosted the fifth in its series of free capacity building programmes, tagged ‘’Business Enterprises...
Access Bank: Naira rain as more millionaires emerge in DiamonsXtra monthly draw

Access Bank: Naira rain as more millionaires emerge in DiamondXtra monthly draw

1 month ago
In fulfillment of its promise to the twenty–nine million customers and over two million Diamondxtra customers, leading commercial and retail bank, Access bank Plc...
Why I have no house outside Nigeria – Dangote reveals

Why I have no house outside Nigeria – Dangote reveals

1 month ago
Africa’s richest man, Aliko Dangote, has declared that he has no personal house outside Nigeria. The business mogul said this at the 2019 Mo Ibrahim...
VAT: Expert tells Buhari govt what to do

VAT: Expert tells Buhari govt what to do

1 month ago
A tax expert, Taiwo Oyedele, has urged the Federal Government to review its Value Added Tax (VAT) law and better policing of its borders...
Fuel scarcity: DPR blows hot over hoarding, diversion of petrol

Fuel scarcity: DPR blows hot over hoarding, diversion of petrol

1 month ago
The Ibadan Field Office of the Department of Petroleum Resources (DPR) has restated its commitment to check the ongoing hoarding and diversion of petroleum...

Nigerian govt gives condition for fuel subsidy removal

1 month ago
The Federal Government has given conditions for the removal of subsidy on premium motor spirit, also known as petrol. The conditions include: provision of alternative...
Kachikwu speaks on Mobil, other oil coys ‘exiting’ Nigeria

Kachikwu speaks on Mobil, other oil coys ‘exiting’ Nigeria

1 month ago
Dr Ibe Kachikwu, the Minister of State for Petroleum Resource says that no International Oil Company (ICO) is planning to exit Nigeria contrary to...

Come to Nigeria and prosper – President Buhari tells potential investors in Dubai

1 month ago
Today, President Buhari met with six different groups of investors at the sidelines of the Annual Investment Meeting in Dubai, United Arab Emirates. He...
Court Judgement: GTBank Opens Up On Takeover Claims By Innoson Motors

Court Judgement: GTBank Opens Up On Takeover Claims By Innoson Motors

Guaranty Trust Bank says it is taking all necessary legal steps to ensure that no illegal or fraudulent execution is carried out by Innoson...
Beauty, Brains and Virtue : Meet Aisha Ahmad, Who is on Her Way To Becoming the CBN Governor!

Beauty, Brains and Virtue : Meet Aisha Ahmad, Who is on Her Way To...

Aisha Ahmad, the Central Bank of Nigeria (CBN) deputy governor is so young you would have to conclude she is the youngest person to...
Nigeria Overtakes Egypt As Largest Rice Producer In Africa

Nigeria Overtakes Egypt As Largest Rice Producer In Africa

Nigeria has overtaken Egypt as the largest rice producer in Africa, Director-General, Africa Rice Center, Benin Republic, Dr Harold Roy-Macauley reveals to Thenation. Roy-Macauley said...

Dangote Becomes 64th Richest Man In The World, He Gained $5.8 Billion In One...

Alhaji Aliko Dangote is now the 64th richest man in the world. The president of Dangote Group significantly moved up in the world billionaires’ list after...
Access Bank, Diamond Bank MDs list merger benefits

Access Bank, Diamond Bank MDs list merger benefits

Access Bank Plc on Friday said it would be well positioned to attract more opportunities from international partners with its Diamond Bank merger. Mr Herbert...

Good News! Inflation Rate Drops To 11.37% In January – NBS

The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in January 2019. This is 0.07 percent points lower than the...

Peak Milk Donates To Nigeria Para-powerlifting Federation

  Peak Milk from the stables of FrieslandCampina WAMCO has donated a 27-seater bus to the Nigeria para-powerlifting federation. The company’s Managing Director, Ben Langat who...

Big Beer Brands Struggle To Tap Into Shifting Consumer Trends

The economic contrac-tion witnessed in the country is hitting hard on premium beer brands with consumers resorting to cheaper brands as alternative. The value brands...

Access, Diamond banks to reward customers

As Access Bank and Diamond Banks continue with their merger process, the banks have said that customers will be rewarded for their loyalty. A statement...
Crypto Company Founder dies with Passwords to Investors’ $190m, says Wife

Crypto Company Founder dies with Passwords to Investors’ $190m, says Wife

The supposedly “end” of the road for a cryptocurrency company – QuadrigaCX – in Canada has left it’s customers in fear following its founder’s death. The founder Gerald Cotten,...
Femi Otedola is selling Forte Oil Shares!

Femi Otedola is selling Forte Oil Shares!

Femi Otedola Billionaire Businessman, Femi Otedola is set to sell all his shares in Forte Oil. This was learnt from the notification of divestment on Monday afternoon...
How we utilised N9.12trn 2018 budget — Buhari

How we utilised N9.12trn 2018 budget — Buhari

President Muhammadu Buhari on Wednesday gave an overview on the implementation of the N9.12 trillion 2018 budget. He said 67 per cent performance had so...
Naira loses marginally against dollar at investors’ window

Naira loses marginally against dollar at investors’ window

The Naira on Wednesday lost marginally against the dollar at the investors’ window. It exchanged at N363.58, weaker than N363.54 traded on Tuesday. Investors settled for...

FCMB opens Ultra-Modern branch in Karu, Nasarawa State

Customers of leading financial services provider, First City Monument Bank (FCMB), and Nigerians in general, who reside or run businesses in Mararaba-Karu, a satellite...

NLC threatens to embark on fresh Industrial action on November 6th over minimum wage

The organized labour comprising of the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC), has threatened to embark on a fresh nationwide...
LASACO Assurance mulls N10 billion additional capital for tier 1 status

LASACO Assurance mulls N10 billion additional capital for tier 1 status

LASACO Assurance Plc is planning to raise additional N10 billion capital from its existing shareholders and new ones, as part of plans to attain...

”We wouldn’t be distracted” – Presidency reacts to Obasanjo’s endorsement of Atiku’s presidential bid

The presidency has reacted to today's endorsement of Atiku Abubakar's presidential bid by former president Olusegun Obasanjo.   In a statement released by the Senior Special...

Job Scam: Trial of two NSCDC officers commences

Trial of two employees of the Nigerian Security and Civil Defence Corps, NSCDC, Mainasara Malami and Emmanuel Salihu, accused of duping unsuspecting citizens in the...

FCMB wins Excellence Award in Retail Banking

First City Monument Bank (FCMB) Limited’s giant strides and consistent impressive performance in the retail segment of the Nigerian banking industry has again been...
Foreign exchange inflow dropped by $3.73bn in one month

Foreign exchange inflow dropped by $3.73bn in one month

The Nigerian economy recorded a total foreign exchange inflow of $6bn in the month of July this year, figures obtained from the Central Bank...

‘The terrorist insurgencies we face, particularly in the Sahel and the Lake Chad Basin...

President Buhari today in New York unfolded Nigeria’s positions on international matters before the global audience. Presenting Nigeria’s National Statement during the opening day of...
World oil demand to peak at 104.4 million bpd in 2035 – Unipec

World oil demand to peak at 104.4 million bpd in 2035 – Unipec

World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below the current 100 million bpd. It...
Employees Of Skye Bank To Get Fresh Contract Under Polaris Bank – NDIC

Employees Of Skye Bank To Get Fresh Contract Under Polaris Bank – NDIC

Emefiele had said the decision to revoke the licence of the old bank was taken following the inability of the owners of the bank...
Skye Bank Changes Name To Polaris Bank On Instagram, Twitter And Facebook

Skye Bank Changes Name To Polaris Bank On Instagram, Twitter And Facebook

  The Central Bank of Nigeria (CBN) on friday , revoked the operating licence of ailing Skye Bank Plc and changes the name to Polaris...
Coca-Cola Reportedly Interested In Making Cannabis Wellness Drink

Coca-Cola Reportedly Interested In Making Cannabis Wellness Drink

These are interesting times in the international beverage market as multi-national beverage company, Coca-Cola, is reportedly interested in launching its own cannabis wellness drink...
Otedola's Forte Oil Loses N15m To dealer

Otedola’s Forte Oil Loses N15m To dealer

The Management of Forte Oil Plc has dragged an oil dealer, Olusegun Oyalana, 37, before a Lagos Magistrate Court for allegedly obtaining petroleum products...
Oyo govt. shuts down Diamond, Skye, FCMB, Heritage banks, others

Oyo govt. shuts down Diamond, Skye, FCMB, Heritage banks, others

No fewer than twenty branches of new generation banks have been sealed over failure to pay the annual environmental levy to the purse of...
Oil Marketers Arraigned For Stealing Automated Gas Oil Worth $8.4m

Oil Marketers Arraigned For Stealing Automated Gas Oil Worth $8.4m

Two oil marketers, Yusuf Kwande and Osahon Asemota, as well five companies have been arraigned before Justice Mojisola Dada of an Ikeja Special Offences...
CBN releases exposure draft on non-bank merchants

CBN to penalise banks, others for failed e-transactions

Any failed Nigerian Instant Payment transaction not reversed into the customer’s account within 24 hours, based on complaint of the sender and/or beneficiary will...

”Return our stolen assets and stop giving us doomsday prophecy on 2019” – Presidency...

Press statement from the presidency The Presidency wishes to make clear to all Nigerians, and particularly the global banking giant HSBC which said the second...
Nigerian Bakers To Increase Price Of Bread

Nigerian Bakers To Increase Price Of Bread

The Premium Bread Makers Association of Nigeria have warned that the price of bread may soon increase. The President of Premium Bread Makers Association of...
Customs stop re-examination of containers

Customs stop re-examination of containers

The Area Controller, Apapa Command, Nigeria Customs Service, Abubakar Bashir, has disclosed that the command has stopped the practice of re-examining containers. Bashir gave this...
Globacom Company excites telecom market with Oga SIM

Globacom Company excites telecom market with Oga SIM

Globacom excites telecom market with Oga SIM (File) Digital Transformation Leader, Globacom, is currently making waves with its newly introduced Oga SIM, which gives a...
FIRS Boss Says Over 6000 Nigerian Billionaires Evade Tax

FIRS Boss Says Over 6000 Nigerian Billionaires Evade Tax

FIRS Boss Says Over 6000 Nigerian Billionaires Evade Tax Over 6000 billionaires in Nigeria will be facing tax laws following their decision to evade tax...
University of Ibadan names Conference Centre after Otunba Subomi Balogun

University of Ibadan names Conference Centre after Otunba Subomi Balogun

The University of Ibadan (UI), Nigeria’s premier tertiary institution, has again honoured the Founder of FCMB Group, Otunba (Dr.) Michael Olasubomi Balogun by naming...
CBN releases exposure draft on non-bank merchants

CBN releases exposure draft on non-bank merchants

The Central Bank of Nigeria, in furtherance of its mandate of enhancing the development of the electronic payment system in the country, has released...
Bill Gates Eyes Kenya Banks With Software

Bill Gates Eyes Kenya Banks With Software

Bill Gates Eyes Kenya Banks With Software The Bill and Melinda Gates Foundation is seeking to engage the Central Bank of Kenya (CBK) on the...
Nigerian govt to ‘empower’ traders with N10,000

Nigerian govt to ‘empower’ traders with N10,000

Vice President Yemi Osinbajo, on Monday arrived in Iwo, Osun State to launch an empowerment programme for 30,000 traders from across the state. The programme...
CAC to register business names within six hours

CAC to register business names within six hours

The Corporate Affairs Commission says it is working towards the deployment of effective Information Technology application to ensure the registration of business names within...
If You are Starting a Business, Then You Need To Read The Following;

If You are Starting a Business, Then You Need To Read The Following;

Starting a new business can be a daunting task. There are myriad issues a new entrepreneur will encounter: legal issues, financing, marketing, product development,...
See the Agege boy who became one of Nigeria’s youngest billionaires

See the Agege boy who became one of Nigeria’s youngest billionaires

IN a society with limited opportunities  especially for  youths, he was terrified by the fear of poverty early in life. In Agege, a Lagos...
Keystone Bank signs Actress, Funke Akindele as brand ambassador

Keystone Bank signs Actress, Funke Akindele as brand ambassador

Keystone Bank Limited, Africa’s best customer service provider recently signed up popular Nollywood actress, writer and producer, Funke Akindele Bello popularly known as ‘Jenifa’...

MTN refuses court order to refund $8.1bn

MTN Nigeria has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015. The telecoms company through its Public Relations...
CBN Has Ordered MTN And 4 Other Banks To Refund $8.1 Billion

CBN Has Ordered MTN And 4 Other Banks To Refund $8.1 Billion

CBN Has Ordered MTN And 4 Other Banks To Refund $8.1 Billion Nigeria's central bank (CBN) has ordered Africa's telecoms giant, MTN and four other...
Ekiti Gubernatorial Election

Missing N4 trillion Oil Money: PDP accuses President Buhari of Corruption

Press statement from PDP The Peoples Democratic Party (PDP) charges President Buhari to explain the whereabouts of the N4trillion unremitted oil revenue and other financial rots...
Business owners in Nigeria to get loans up to N10m without collateral

Business owners in Nigeria to get loans up to N10m without collateral

Nigeria’s Vice-President Yemi Osinbajo has revealed that the Federal Government is working on a loan facility for business owners in Nigeria. According to Daily Post,...
Mtn Unveils Mpulse, A New Innovation For Teenagers

Mtn Unveils Mpulse, A New Innovation For Teenagers

MTN Nigeria has introduced its latest innovation, mPulse, a platform designed for Teens and Tweens from the ages 9 to 15 to enable them...

Power: Benin Republic, Niger pay Nigeria $10m after disconnection threat

The Republics of Benin and Niger have paid $10.1m as electricity bill to Nigeria to avert being disconnected from their power source in Nigeria...

Nigerian crude exports set for four-month high supply

The nation’s oil exports are expected to rise to their highest in four months in October, on the back of supply of several larger...

Why Nigeria’s gas sector development may remain elusive

The Nigerian gas sector outlook may remain bleak if lingering challenges, especially unfavourable regulatory framework and poor monetary policies are not addressed. Nigeria had 5,111...
Ekiti Gubernatorial Election

Buhari approves N73bn road project for Lagos, appoints Dangote as contractor

The Federal Executive Council, FEC, on Wednesday approved N72.9billion for the reconstruction of the road from Apapa to the toll gate on Lagos-Ibadan expressway...
Good work ethics will promote growth

Azinge: Good work ethics will promote growth and development

Worried by the lackadaisical attitude of many Nigerians, especially public servants to work, Professor Epiphany Azinge, through his Epiphany Azinge Foundation has begun a...
oando

Oando records N8.5 billion PAT in H1 2018

Oando continues to defy skeptics as the company recorded N8.5 billion profit-after-tax (PAT) in its half-year ended June 30, 2018 (H1 2018) results. The...
oando

Shareholders reinforce confidence in Oando management at 41st AGM

Oando recorded another victory with the successful conclusion of its 41ST Annual General Meeting (AGM) which held on Friday, July 27 at the Eko...

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