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Business and economic news from Nigeria and around the world.

Nigeria's 2019 presidential election, Atiku vs Buhari

Whoever wins Saturday’s election has their job cut out for them

The most important presidential election in Africa in 2019 is finally about to happen. And as expected, many people are agitated.
e-Commerce in Nigeria, Nigeria Customs

How reforms by the Nigeria Customs are aiding e-commerce

At the just concluded Ease of Doing Business Forum in Lagos, which was attended by the Senior Special Assistant to the President on Industry, Trade, and...
Somto Ifezue, Odunayo Eweniyi and Joshua Chibueze [l-r] PiggybankNG Co-founders_small

Piggybank.ng becomes PiggyVest 

In a press release issued today, online savings and investment platform, Piggybank.ng, announced its evolution from Piggybank.ng to PiggyVest — a much broader and holistic financial management...
MTN Nigeria

Court adjourns MTN’s case yet again

The $2 billion tax case between MTN Nigeria and the Office of Nigeria's Attorney General suffered yet another delay today, following its adjournment.
Meyer Plc reacts to publications about FIRS' shut down of its premises

Focus: This old paint company is struggling to remain king

There are about five paint manufacturing companies that are currently listed on the Nigerian Stock Exchange.

Caverton releases statement following VP’s crash landing

Following this afternoon's crashlanding of a helicopter with the Vice President Professor Yemi Osinbajo on board,  Caverton Offshore Support Group (parent company of Caverton...
Dolapo Shawarma King

#Dolapo Shawarma: How to jump on a trend for brand visibility

There has been a trend on popular micro blog, Twitter, about a young man, Dolapo (@DolaposS, owner of Dolapo Shawarma King) who was helped...
Kupanda Holdings, Mavin Records, Don Jazzy, Music Label, Equity

Mavin Records secures multimillion-dollar equity investment

Mavin Records, Africa’s industry-leading music label, announces its multimillion-dollar equity investment partnership with Kupanda Holdings.
Naira free float, Central Bank of Nigeria, Emefiele replies Atiku, Financial Derivatives Company Limited, Analysts

CBN’s Emefiele has a reply for Atiku Abubakar

The CBN Governor, Mr Godwin Emefiele, has argued that any move to float the naira will be tantamount to a disaster for the economy. 

Fintech companies to watch out for in 2019  

The disruption fintechs have brought about is certainly undeniable, even as their effectiveness is one of the qualities that have distinguished them.
minimum wage in Nigeria, How to save money in 2019, ATM, NIP, NBS, CBN, Inflation, Interest Rates

Nigeria ranks least on ‘surviving on minimum wage’ report

There has been a back and forth discussion between the Federal Government and the Nigerian Labour Congress (NLC) on the current minimum wage of N18,000. The unending negotiation has been about wage increment, which will see the workers receive N30,000 month end.
Diamondxtra, Access Diamond merger, Diamond Bank, Access Bank, Consolidation, Merger, Shareholders

Access/Diamond merger: No plans to close any branch

Access Bank and Diamond Bank, yesterday, gave an update in its merger plans.
NSE glitch, Nigerian stock exchange, foreign investment

NSE extends trading hours after 4 hour glitch

The Nigerian Stock Exchange (NSE) today encountered a technical glitch which impacted trading activities for about four hours. The bourse disclosed this in a notice...
Africa's wealthiest billionaires

Nigerians occupy top spots on Forbes Magazine’s wealthiest African billionaires’ list

Forbes Magazine has published its 2018 list of Africa's richest billionaires. And as always, the list is consisted of regular names.
President Muhammadu Buhari | Federal government

President Buhari’s thoughts on a new minimum wage

Some weeks after presenting the 2019 budget to the National Assembly, President Muhammadu Buhari addresses various major issues that pertains to the Nigeria economy...
FSDH Merchant Bank Ltd, Inflation rate, private sector loans, NBS

VAT revenue may have hit 4 year high in 2018

This marks a N91 billion increase from the N717 billion collected in the first three quarters of 2017.
2019, general elections, President Muhammadu Buhari

What President Buhari said in his 2019 new year’s day speech

It is my utmost pleasure to rejoice with all Nigerians as we enter the year 2019, which will be a very significant one for our country.

How EFCC allegedly froze Nairabet’s Polaris Bank account

Akin Alabi narrated how the EFCC allegedly placed a limit on his company’s accounts.

Details of President Buhari’s N8.83 trillion 2019 budget

President Muhammadu Buhari has presented an N8.8trn budget for 2019. According to the President, who gave the figure during the 2019 budget presentation before a joint session of the National Assembly,
Forbes, PricewaterhouseCoopers, PWC, Unemployment, NBS, Buhari, Election

Nigeria’s unemployment rate hits all time high since 2014

The Nigerian Bureau of Statistics, NBS, has finally released the much anticipated unemployment report in the country, with the number of unemployed Nigerians at 20,927,648.
Diamondxtra, Access Diamond merger, Diamond Bank, Access Bank, Consolidation, Merger, Shareholders

What might be your fate as a Diamond Bank Staff

As the news of Access Bank’s likely merger with tier two lender, Diamond Bank continues to filter into the financial system, one thing that...
Diamond Bank's merger with Acess Bank

Access Bank merger: This is what will happen to your Diamond Bank Deposit

Echoes of banking failures in the past have left many Nigerians wary of news concerning a merger.

Deal: Access Bank to merge with Diamond Bank to form Nigeria’s largest bank

It was celebrations galore at Access Bank over the weekend as the Nigerian Tier 1 bank hosted its annual Xmas party for staff, business...
minimum wage in Nigeria, How to save money in 2019, ATM, NIP, NBS, CBN, Inflation, Interest Rates

This payment channel had the highest value of transaction in Q3 2018

The National Bureau of Statistics (NBS) has released the Selected Banking Sector Data for Q3 2018.
Sheraton Abuja hotel

Why Capital Hotels paid over N500 million as damages to an ex guest

Capital Hotels Plc stated that it had the sum of N560 million deducted from its account with Guaranty Trust Bank.
VFD Group Limited

See how VFD Group plans to reposition Nigeria’s economy

VFD Group Limited recently held its 2nd AGM in Lagos, during which the board of directors obtained shareholders' approval to raise capital for expansion purposes.
Notore PLC

These companies may benefit from the CBN’s latest FX policy

The Central Bank of Nigeria (CBN) Governor Godwin Emefiele, made good his threat to add other items to the list of those banned from the official exchange market.
Nigerian Military

Official: Nigeria spends N1.2 billion only on imports of Arms and Ammunition

Nigeria's military spending rose by a whopping 2,138% for the third quarter of 2018, one of the highest seen in recent years. This was contained...
FSDH Merchant Bank Ltd, Inflation rate, private sector loans, NBS

Credit to the private sector hits N15.5 trillion as at Q3 2018 

Nigerian Bank’s total lending to the private sector from Q1 2018 to Q3 2018 stood at N46.4 trillion as at September.
Investment One Financial Services Limited

Investment One advocates investment in tech as it clocks ten

Investment One Financial Services Limited wants Nigerians to really think about some of the tech ideas that are shaping the future, and invest in them.
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