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News Review

Review of top business & economic news and analysis from Nigeria

Nigerian Ports Authority moves to recover ₦40 billion debt

Port operators owing the Nigerian Ports Authority (NPA) are in for a tough time, as the parastatal's management has given them a deadline of...

Innoson Responds to His Arrest Warrant

Chairman and Chief Executive Officer (CEO) of the Innoson Group, Innocent Chukwuma has sought a Court of Appeal motion seeking a stay of execution in...

The Innoson vs EFCC Battle has Taken a New Turn

The legal battle between Innocent Chukwuma Chairman/Chief Executive Officer Innoson Group and the Economic and Financial Crimes Commission (EFCC) has taken a new twist....

Why January was a bearish month for cryptocurrencies

Bitcoin and other cryptocurrencies had a bearish January with massive losses for investors. Bitcoin lost over 40%, while other coins had equally steep losses....

CBN has warned Banks to stop charging fees for forex purchases

The Central Bank of Nigeria (CBN) has instructed banks in the country not to charge customers commission when purchasing foreign exchange for invisible transactions....

Zinox Technologies acquires Konga: Sim Shagaya sends well wishes

Zinox Group, popularly known for its Information Communication Technology innovative solutions has acquired Konga, one of the largest e-Commerce sites in Nigeria. The news...

The real cost of Mounir Gwarzo’s ‘Golden handshake’

The Administrative Panel of Inquiry  set up to look into allegations against the suspended Director- General of the Securities and Exchange Commission (SEC) Mounir...

Administrative panel recommends dismissal of suspended SEC DG

A panel set up by the Minister of Finance, Kemi Adeosun has recommended the dismissal of the suspended Director General of the Securities and...

Senate cautions Nigerians on trading of bitcoin and other cryptocurrencies

Nigeria’s upper chamber has turned its searchlight on the trade of bitcoin and other cryptocurrencies in the country. This was raised in a motion...

Emefiele explains why cryptocurrencies are like gambling

Central Bank of Nigeria (CBN) Governor Godwin Emefiele is of the opinion that Nigerians involved in the trade of cryptocurrencies are speculating. Opinions on...

Federal Government considering $2.5 billion Eurobond raise

The Federal Government (through the Debt Management Office DMO) may be considering a $2.5 billion Eurobond in the first quarter of this year. Director-General...

CBN Governor Godwin Emefiele hints at interest rate cut before July

CBN Governor Godwin Emefiele has given an update on when the bank is likely to lower interest rates. He disclosed this yesterday in an...

Dangote Group kicks off $150 million solar project

The $150 million solar power project being backed by the Dangote Group and Blackrhino has moved one step closer to reality as the Kano...

How FMCGs have coped with tough economic times in the country

Fast Moving Consumer Goods (FMCGs) such as Unilver and PZ have adopted various measures to remain profitable in the current harsh economic climate. Unilever...

AfDB to expand its loan portfolio for Nigeria by $2 billion

The African Development Bank (ADB) will provide close to $2 billion worth of loans to Nigeria between 2018-2019. President of the ADB Akin Adesina...

Here’s a copy of Olusegun Obasanjo’s letter to President Muhammadu Buhari

THE WAY OUT: A CLARION CALL FOR COALITION FOR NIGERIA MOVEMENT By: President Olusegun Obasanjo Since we are still in the month of January, it is appropriate...

FIRS tax collection hits all time high of N4 trillion in 2017

The Federal Inland Revenue Service exceeded its 2016 tax revenue collection by 20%. Taxes collected by the body thus increased from N3.3  trillion in...

Here’s how Nigerians apply native wisdom to cryptocurrencies

As the cryptocurrency bug in the country continues to spread, many Nigerians have decided to form groups in order to learn more about them....

Oando Plc and Dahiru Mangal settle disagreement

The boardroom crisis rocking Oando Plc may be drawing to a close as one of the aggrieved shareholders Dahiru Mangal and the company have...

Aliko Dangote’s thoughts on the herdsmen crisis

Africa’s richest man and President of Dangote Industries, Aliko Dangote, has blamed the herdsmen crisis in the country on a high level of unemployment....

How Nigeria is tied to the global economy

Standard Chartered Bank has predicted a stronger economic growth with rising inflation for the global economy in 2018. The bank revealed this in its...

What the latest Niger Delta threat means for your investments

The relative peace enjoyed in Nigeria’s oil producing Niger Delta may be a thing of the past, if the latest threat by the Niger...

Akinwunmi Adesina receives highest honour of the Republic of Liberia

President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, on Monday, January 15, received the Order of the Star of Africa with...

Federal Government pays N11 billion to YouWin awardees

The Federal Government has disbursed over N11 billion to the beneficiaries of the third edition of the YouWiN! programme from 2015 to date. This disclosure...

Explained: Why Swipha shut down its operations

The management of Swiss Pharma (Swipha) Nigeria Limited has explained why it decided to temporarily shut down its operations in Nigeria because of the...

This court order could halt the 9Mobile sale

The nullification of a Federal High Court order granting the interim board of 9Mobile legitimacy could throw a spanner in the sale process for...

CBN sets 7.6 million new bank account targets for banks in the country

The Central Bank of Nigeria (CBN) has set a target of 7.6 million new savings accounts for Deposit Money Banks (DMBs) and Microfinance banks. the...

CBN instructs Microfinance banks to freeze withdrawals on accounts with no BVN

In a recent notice, the Central Bank of Nigeria (CBN) has instructed microfinance banks and other financial institutions to place a no debit order...

Polio Debt: Gates Foundation agrees to repay Nigeria’s $76m debt.

Nigeria has given the its green light to Bill and Melinda Gates Foundation to start the repayment of 76 million dollars polio eradication facility...

INEC schedules 2019 general elections for February and March 2019

The Independent National Electoral Commission (INEC) has scheduled the 2019 Presidential and National Assembly elections for Saturday, 16th February, while the Governorship and State Assembly/Federal...