Business News

Business and economic news from Nigeria and around the world.

Nigerian Banks

Banks Downgrade Withdrawal Limits On ATMs

The Central bank of Nigeria in a statement has downgraded withdrawal limits on Automated Teller Machine. In the new arrangement,...
Skye Bank

Skye Bank Confirm Plans to Raise N30billion

Nigeria's Skye Bank is in talks with existing and new investors to raise 30 billion naira ($150.75 million) before year-end...

Nigeria’s Mortgage Refinance Company to raise N6 billion in equity capital

Nigeria’s version of America’s state owned mortgage refinancing companies ( Fannie Mae and Freddie Mac), known as NMRC or Nigeria...

[Pay-Cut] 109 Distinguished Senators To Forfeit N66m Annually

The sum of N66, 485,462 would be slashed from all the 109 senators if the 30 percent pay cut recommended...

Emeka Offor’s Chrome Oil Services Will Complete TAM For PH Refinery This Week

Port Harcourt Refinery will this week resume full production of petrol, when Chrome Oil Services Limited would have completed the...

Tax Collectors – FIRS Generates N1.97Trln In H1

The Federal Inland Revenue Service (FIRS) says it generated N1.97 trillion in revenue in the first half of this year. ...

External Reserves Rise Marginally To $31.5b

Nigeria’s external reserves rose 0.2 per cent month-to-date to $31.5 billion as at last week, representing a $200 million increase...

[NEW CIRCULAR] CBN Confirms Nigerians Can Buy Forex for BTA, PTA, Medical etc at...

The CBN has issued yet another circular informing Nigerians that all legitimate request for foreign currency for eligible transactions such as...

Reasons Buhari Will Not Sell Refineries

There are Strong indications that President Muhammadu Buhari may not be in a hurry to sell Nigeria’s three refineries. ...

Presidency Spokesman Says Buhari Will investigate Supply Of Military Weapons

The Presidency on Sunday said that President Mohammadu Buhari would launch a full scale probe into the awards of contracts...

Buhari Orders MDAs To Run Single Treasury Account

All Federal Government Ministries, Department and Agencies are now to run a single account, the Treasury Single Account (TSA) for...

Increasing Nigeria Electricity Generation: A Prompt And Easy Way Forward

Most knowledgeable energy followers are often bemused by the decisions of any country that literally sits in an energy-ocean but...

See How Much Nigeria Looses Annually On Imported Electric Bulbs

Nigeria may have been losing over N500 million annually on imported electric bulbs into the country as about 50% of...
Presidential Panel investigate Seplat and NPDC, Seplat short-change FG, Seplat Petroleum Development Company,

Seplat Plans Gas Production Increase By 2017

Seplat Petroleum Development Company Plc, on Friday announced plans to increase its gas production to 500 million Standard Cubic Feet...
A case for investing in dividend stocks

These 4 Companies Will Be Marked Down for Dividend This Week

The following companies will be closing their register for dividend payment this week. By closing their register only investors who own shares in the...

These Two Companies Will Pay Dividend On Tuesday 11th August

Shareholders whose name appear on the register of these companies as at the date of closure of register will be eligible to receive dividends...

Important Factors To Consider Before Buying into Any Company

Chris was offered an opportunity to be a part owner of a cyber café with his uncle who decided it was time to retire...

Why Transcorp is Merging TUP with Ughelli Power Plant Plc

Transcorp Nigeria Plc has announced that it has obtained SEC approval-in-principle to merge Transcorp Ughelli Power Ltd (TUPL) and Ughelli...

Here is The New Plan FIRS Wants To Use To Catch Tax Evaders

Nigeria's Federal Inland Revenue Service (FIRS) said on Friday it would crack down on tax evaders by denying access to...

Committee Recommends Injection Of N37bn Into Textile Industry

The four national committees on the revitalisation of the agricultural sector in Nigeria recently inaugurated by the Federal Ministry of...

As El- Rufai Shuts Down Multiple Bank Accounts. Will Others Follow?

The Kaduna State Government yesterday announced its decision to close down its multiple bank accounts in commercial bank to enable...

FG Will Also Recover Debts From Power Firms

The Federal Government may recoup its money from debtor power distribution companies by calling on their bank guarantees. ...

PPMCs Boss Just Got Served

In continuation of the restructuring exercise going on at the Nigerian National Petroleum Corporation (NNPC), the newly appointed Group Managing...

CBN Is Working With FG To Recover Stolen Funds- Emefiele

The Central Bank of Nigeria (CBN) is examining ways it can assist the Federal Government to recover billions of dollars...

Will Petroleum Price Crash Next Week?

Independent Petroleum Marketers Association of Nigeria (IPMAN) Ilorin branch said yesterday that the price of petroleum products may crash next...

Expect 100 Indian Companies For Business And Investment

Over 100 Indian companies will be visiting Nigeria to hold business and investment forum this month in Lagos in order...

[Revealed] Why The Demand For Nigeria’s Crude Oil Is Low

A new report by the New York-based Natural Resource Governance Institute has said that market demand for Nigerian barrels has...

Meet Diamond Bank’s new CFO

Following the resignation of Abdulrahman Yinusa, Diamond Bank Plc wishes to notify the exchange of the appointment of Chiugo Ndubisi...

PMB Commences Probe On GEJ. Hires Two Foreign Forensic Auditors

The Oshiomhole/El-Rufai Committee set up by President Muhammadu Buhari to probe the administration of former President Goodluck Jonathan is to...

[Debtors Register] See Who Is Owing UBA N9.3b

It was learnt that some major customers approached the bank to re-negotiate their loans when it dawned on them that...

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Should Gokada and Max.ng be afraid of ORide?

Should Gokada and Max.ng be afraid of ORide?

ORide is fast penetrating the market by leveraging on the N100 bonus offer to any destination of any distance within Lagos. This move has attracted the competitors’ customers, at least if not for anything, till the promo offer ends. 
Airtel Nigeria

Airtel eyes a £3.6 billion IPO valuation on the LSE and NSE

Airtel Africa Limited has declared its intentions to float his shares simultaneously on the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE)