CATEGORY: NEWS

Mixed Fortunes trail GEJ’s Super Ministers

Mixed Fortunes trail GEJ’s Super Ministers

The Goodluck Jonathan administration, despite its tilt towards corruption and impunity will always be remembered as one that had some of the most powerful ministers...


FIRS raids SME’s across 3 states for not paying tax

FIRS raids SME’s across 3 states for not paying tax

In what appeared to be a major raid during the week, the Federal Inland Revenue Service sealed off some tax-defaulting companies in Abuja. According...


Gateway Portland Cement is the latest company taken over by AMCON      

Gateway Portland Cement is the latest company taken over by AMCON      

The Asset Management Company of Nigeria (AMCON)’s take over train seems to be on the move and this time it has stopped at Gateway...



NNPC breaks silence on unremitted TSA funds held in 3 banks

NNPC breaks silence on unremitted TSA funds held in 3 banks

The Nigerian National Petroleum Corporation (NNPC) has issued a statement clarifying  its own share of the $793 million Treasury Single Account (TSA) funds that...


Upon exit, Etisalat gains the highest number of ported subscribers in May

Upon exit, Etisalat gains the highest number of ported subscribers in May

As Nigeria grapples with the exit of the Etisalat brand, available data from the NCC shows that embattled 9mobile (formerly Etisalat) gained more subscribers...


All the major economic news from Nigeria in 5 minutes 21/7/2017

All the major economic news from Nigeria in 5 minutes 21/7/2017

Summary of the top business, economic and political news in Nigeria today. The Lagos Chapter of the Chartered Institute of Bankers of Nigeria (CIBN)...


CBN sells N145.9 billion in treasury bills for 23% pa

CBN sells N145.9 billion in treasury bills for 23% pa

The Central Bank of Nigeria has disclosed that it sold about N204.9 billion in treasury bills following its auction held on Wednesday July 19,...


Tension as World Bank begin ranking of Nigerian states on Ease of Doing Business

Tension as World Bank begin ranking of Nigerian states on Ease of Doing Business

The World Bank is to commence activities leading to the ranking of Nigerian States on their ease of doing business. This is based on...


7 banks are in trouble over unremitted $793 million TSA funds

7 banks are in trouble over unremitted $793 million TSA funds

Seven commercial banks in the country are currently in trouble over Treasury Single Account (TSA) that were allegedly kept aside. A Federal High Court...


Senators want to create a N200 FX window for pilgrims

Senators want to create a N200 FX window for pilgrims

Members of the Senate while deliberating on activities of the National Hajj Commission (NAHCON) have suggested that a concessionary FX rate of N200 a...


All the major economic news from Nigeria in 5 minutes 20/7/2017

All the major economic news from Nigeria in 5 minutes 20/7/2017

Summary of the top business, economic and political news in Nigeria today. Worried about the grave economic implication of Nigeria’s suspension from the EGMONT...


2017 Budget: Osinbajo proposes N135.6 billion virement

2017 Budget: Osinbajo proposes N135.6 billion virement

Acting President Yemi Osinbajo has submitted a virement proposal of N135.6billion to the National Assembly. The money is meant to cover projects across many...


The FG is setting up a website to monitor contracts

The FG is setting up a website to monitor contracts

The Federal Government says it is setting up a contract disclosure website to improve transparency and accountability in contracts entered into by public and...


FEC approves oil policy; Nigeria to end fuel importation by 2019

FEC approves oil policy; Nigeria to end fuel importation by 2019

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Wednesday said Nigeria will cease to import petroleum products and totally depend on...


Local miners in Kastina made N246 million from fertilizer production in June

Local miners in Kastina made N246 million from fertilizer production in June

N246 million worth of fertilizer was produced by 79 local miners in Katsina State from processed raw materials in June. This was made public...


ICOs may be causing a cryptocurrency bubble

ICOs may be causing a cryptocurrency bubble

As the price of bitcoin recovers lost ground, experts have warned that the cryptocurrency market could be heading for a bubble due to the...


All the major economic news from Nigeria in 5 minutes-19/7/2017

All the major economic news from Nigeria in 5 minutes-19/7/2017

Summary of the top business, economic and political news in Nigeria today. Corporate Affairs Commission (CAC), in Abuja on Tuesday shut down business activities...


NEITI says Nigeria earned N70 trillion but saved little

NEITI says Nigeria earned N70 trillion but saved little

According to a recent report by NEITI, Nigeria’s oil revenue savings were among the lowest in the world despite about N70trillion in earnings from...


FG has given Ondo State licence to mine bitumen

FG has given Ondo State licence to mine bitumen

The Federal Government of Nigeria (FGN) on Tuesday announced the award of a licence to Ondo State Government to mine bitumen. It was gathered...


FIRS explains how it plans to achieve N1.8 trillion VAT target for 2017

FIRS explains how it plans to achieve N1.8 trillion VAT target for 2017

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Tunde Fowler, stated that the service has automated VAT collection for the critical...


These Five States got the highest share from the N243.7 billion Paris Club refund

These Five States got the highest share from the N243.7 billion Paris Club refund

The Federal Government has released N243.79 billion as the second tranche of the Paris Club Refund to the 36 state governments and the Federal...


The CAC staff union goes on another strike over salary arrears

The CAC staff union goes on another strike over salary arrears

A warning strike by the staff union of the Corporate Affairs Commission (CAC) began at its headquarters in Abuja yesterday. According to the News...


CBN extends its support for Skyebank to 2018 after N100bn bailout         

CBN extends its support for Skyebank to 2018 after N100bn bailout         

The Central Bank of Nigeria (CBN) has extended financial support for Skyebank till next year. The  bank in a statement, said it was still...


All the major economic news from Nigeria in 5 minutes – 18/7/2017

All the major economic news from Nigeria in 5 minutes – 18/7/2017

Summary of the top business, economic and political news in Nigeria today.   Acting President Yemi Osinbajo has pledged to grant tax relief for...


PS Nutrac now grows crops without soil in Nigeria

PS Nutrac now grows crops without soil in Nigeria

PS Nutraceutical International Limited (PS Nutrac) now grows crops without using soil. PS Nutrac deploys several technologies including hydroponics (plants in water), aquaponics (using...


ChapelHill Denham launches first series N200 billion Nigeria infrastructure debt fund

ChapelHill Denham launches first series N200 billion Nigeria infrastructure debt fund

ChapelHill Denham yesterday launched the first series of its N200 billion Nigeria Infrastructure Debt Fund (NIDF). The fund is reputed as the first-ever listed...


FG, NDDC to create more jobs in Niger Delta through agriculture

FG, NDDC to create more jobs in Niger Delta through agriculture

The federal government recently reiterated its plan to create more opportunities for youth in the Niger Delta through resuscitating the abandoned rice mill in...


This free ‘legal clinic’ for Startups and SMEs is holding in Lagos Soon

This free ‘legal clinic’ for Startups and SMEs is holding in Lagos Soon

On Thursday, July 27, 2017 at Villa Toscana, Oniru, Lekki, Okhai Akhigbe & Co. (OAC)—a Lagos-based legal services firm—will be hosting small- and medium-size...


Official: Debt service was 44% of FG revenue for May 2017

Official: Debt service was 44% of FG revenue for May 2017

In the recently published May 2017 Central Bank Monthly report, Nigeria earned a total revenue of about N185.6 billion the lowest monthly collection since...


AMCON CEO, Kuru, admits failure to recover debts and meet its obligations to CBN

AMCON CEO, Kuru, admits failure to recover debts and meet its obligations to CBN

The Managing Director and Chief Executive Officer of AMCON, Ahmed Kuru has admitted that the corporation which he heads has failed in its recent...