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FG records N6 trillion loss across sectors due to Lagos gridlock

FG records N6 trillion loss across sectors due to Lagos gridlock

The Federal Government has lost not less than N6 trillion across all sectors of the economy as a result of the gridlock in the Apapa area of Lagos State.
Mr. Biggs restuarants in Nigeria, Mr. Biggs resturant address in Nigeria, Mr. Biggs office, Quick Service Restuarants in Nigeria

46-years after, Mr. Bigg’s is not so big anymore

From the late 1970s to early 2000s, @mrbiggsng was the most sought-after fast food restaurant, but 46 years later, the company is gradually winding up, becoming a fading memory in an era of competition; the fall of this giant will, however, cost Nigerians a lot.
SEC, fraud

SEC considering rules amendment to capture digital transactions

In order to capture digital transactions in the country, the Securities and Exchange Commission (SEC) is making amendments to its rules which it also believes would combat crime in the capital market.
Abbey Mortgage Bank to raise capital, Abbey Mortgage Bank to issue shares

DEAL: VFD Group may take key stake in Abbey Mortgage Bank

@vfdgroup may take a key stake in Abbey Mortgage Bank Plc, through a private placement. Shareholders of the bank gave approval at its AGM held this week.
President Buhari Inaugurates National Economic Council, National Economic Council

This state has the lowest inflation rate in Nigeria and it’s single digit

The National Bureau of Statistics released its June 2019 Consumer Price Index showing inflation rate rose 11.22% year on year, the slowest rise in...
Here's why Sub-Saharan Africa is the world’s fastest-growing mobile region

Here’s why Sub-Saharan Africa is the world’s fastest-growing mobile region

@GSMA has revealed that Sub-Saharan Africa is the world’s fastest-growing mobile region. With an economy valued at more than $150 Billion in 2018, the region is expected to maintain this position in the coming years.
VFD Group divest from Germaine Auto Center, Nonso Okpala CEO, VFD Group

VFD Group cedes control as it divests from GAC two years after takeover

@VFDGroup has announced it will be exiting from automobile dealership company, Germaine Auto Center (GAC). The development is contained in a press statement sent to Nairametrics.
11 Plc, Gas

Here’s how much Nigerians paid for gas, kerosene and diesel in June

Report has shown that the prices of Gas and Diesel dropped in Jun 2019, while consumers paid more for Kerosene across the country
Gokada to launch new boat ride

Louts, “Agbero” confront Opay, Gokada, and MAXng riders

A viral video online has suggested that some 'Agberos' are stopping popular motorbikes hailing services, Oride, Gokada, MAXng riders in Lagos demanding for N500 tax.
Access Bank Plc

Access Bank wins Karlsruhe Sustainable Finance Award

Africa’s leading financial institution, Access Bank Plc, has emerged winner of the 2019 Karlsruhe Sustainable Finance Awards.
Nigerian Women In Finance

Here are the top Nigerian women in finance

This a list of 2019 exceptional women in the finance sector of Nigeria.
Minimum Wage

Does Buhari’s new minimum wage approval mean “Nigeria is broke”?

After months of eager anticipation, hopes were not entirely dashed after President Muhammadu Buhari has finally approved the immediate implementation of N30,000 new minimum wage to lowest cadre workers. 
FSDH Merchant Bank Ltd, Inflation rate, private sector loans, NBS

Outflux of skilled workers is a dent on the local labour market

The rate at which skilled workers are emigrating from Nigeria to more developed regions has increased significantly over the past four years, as more...
President Muhammadu Buhari, new minimum wage

FG’s new minimum wage implementation does not apply to everyone

President Muhammadu Buhari has ordered the immediate implementation of the N30,000 new minimum wage, but it is not for everyone.
Banks, CBN, LDR, CRC Credit Bureau

Banks are relying on credit bureau to comply with CBN’s new directive

Banks are relying on credit bureau operators to comply with CBN's 60 per cent Loan to Deposit Ratio (LDR) policy. This is according to CRC Credit Bureau.
IMF, Christine Lagarde resigns

IMF hunts for a new Chief, as Christine Lagarde steps down

The International Monetary Fund (IMF) is hunting for a new chief following the resignation of its Managing Director (MD), Christine Lagarde.
Petrol price watch

Price Watch: Average prices of Petrol rise across states in June 2019

The average pump price of premium motor spirit (popularly known as Petrol) increased by 0.2% in June 2019. This is revealed in the latest Petrol price watch data released by the [@nigerianstat]
AfDB, Lutoyilex Construct Ltd, fraud

AfDB has blacklisted this company from bidding for contracts

AfDB has barred Lutoyilex Construct Limited and its Managing Director, Bamidele Obiniyi for a period of 36 months over alleged fraudulent practices.
Meyer Plc appoints new Chief Financial Officer, Meyer appoints Rotimi Alashe, FIRS shutdown Meyer Ikeja Paint Factory, Meyer plc appoints Devashish Nath

Meyer Plc appoints a new Chief Financial Officer

@meyerpaints Plc has appointed the former Financial Controller of @DangoteGroup, Rotimi Alashe. His appointment comes seven months after the company was dragged into a tax mess that led to the shutdown of its paint factory in Ikeja.
MTN

SCOOP: MTN workers to stay home as students reportedly picket headquarters [Update]

Staff of @MTNNG have reportedly been told to stay back at home after the company received a warning of a planned protest by Nigerian students.
the best mobile banking apps

See the best Nigerian mobile banking apps in H1 2019

See the best Nigerian mobile banking apps in H1 2019 #Banking #Apps
Insurance in Nigeria, FBN Holdings Annual general Meeting, FBN General Insurance Limited CEO Bode Opadokun, FBN General Insurance Limited 2018 financial result

How indiscriminate premium discount is killing the insurance sector

Experts in the Nigerian fledgling insurance industry have bemoaned the current spate of improper discounts on premium rate being granted by some underwriters to their clients. The insurance practitioners described the practise as unfavourable to business.
NSE expels 38 stockbroking firms, Companies on NSE, NSE rules, Nigerian Stock Exchange, NSE, CBN, Banks' recapitalisation

Forte Oil, Flour Mills among worst stocks, as NSE ends in negative

@nsenigeria ended Tuesday’s trading session in negative territory. The All Share Index closed at 28,200.88 basis points, down 0.4%. Year to date, the index is down 10.28%.
Nigerian Stock Exchange

NSE Inducts 46 Newly Authorized Dealing Clerks

The Nigerian Stock Exchange (NSE) on Monday, July 15, 2019, inducted 46 recently qualified Dealing Clerks charging them to uphold the highest level of ethics and sense of responsibility.
Ponzi

SEC moves to help Nigerians who invested in this Ponzi Scheme

The [@SECNigeria] has issued a notice to begin the commencement of the verification exercise for 4,160 Nigerians who participated in an illegal investment (known as Ponzi Scheme) organized by Dantata Success and Profitable company (DSPC).
Jim Ovia, Godwin Emefiele

Jim Ovia urges Emefiele to create the enabling environment that will empower the Nigerian...

Jim Ovia has called on the @centbank Governor, Godwin Emefiele to create the enabling environment to help empower and blossom the Nigerian youths.
Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case, Why telcos should double $70 billion investments – NCC, Nigerian Communications Commission

FG receives N51 billion remittance from NCC in 3 months

@NgComCommission has announced that it remitted the sum of N51.3 billion to the Federal Government as part of the revenue generated in the first quarter of 2019.
Fidelity Bank Plc, SMEs, DBN,

SMEs get N9 billion of DBN funding from Fidelity Bank

Fidelity Bank Plc has advanced the Development Bank of Nigeria's (DBN) N28 billion funding to promote SMEs in the country.
Actis takeover Abraaj Funds, Abraaj liquidation, Abraaj Funds accusation of defrauding investors, About Abraaj

Actis takes over Nigerian-focused Abraaj Funds, after criminal charges and face-off with creditors

The management rights of Abraaj Private Equity Fund IV (APEF IV) and Abraaj Africa Fund III (AAF III) has been taken over by @ActisLLP, in a bid to steady the ships after months of investor confrontation and criminal charges against the firms senior executives.
Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case

Nigeria ranks 7th country with highest number of internet users in the world

Nigeria's evolving internet market has just hit another milestone, as the latest statistics released by the Internet World Stats revealed that the country now ranks 7th in terms of countries with the highest number of internet users in the world.

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the best mobile banking apps

See the best Nigerian mobile banking apps in H1 2019

See the best Nigerian mobile banking apps in H1 2019 #Banking #Apps
President Muhammadu Buhari, new minimum wage

FG’s new minimum wage implementation does not apply to everyone

President Muhammadu Buhari has ordered the immediate implementation of the N30,000 new minimum wage, but it is not for everyone.
MTN

SCOOP: MTN workers to stay home as students reportedly picket headquarters [Update]

Staff of @MTNNG have reportedly been told to stay back at home after the company received a warning of a planned protest by Nigerian students.