Vitafoam reassures as shareholders okay N525.4m dividend
THE board and management of Vitafoam Nigeria Plc yesterday reassured shareholders and other stakeholders that the company would continue to…
Category: Local
Court grants claim for breach of contract against Shell
A Lagos High Court has set aside the arbitral tribunal award, which dismissed Global Gas and Refining Limited’s claim for…
Ikeja Electric Gets New CEO
Ikeja Electric Plc, one of the nation’s power distribution companies, has announced the appointment of Mrs Folake Soetan as its…
Bashir Jamoh Replaces Peterside As NIMASA DG
The President, Major General Muhammadu Buhari (retd.), has approved the appointment of Bashir Jamoh as the Director-General of the Nigerian…
FEC okays $2.571b Ajaokuta-Kaduna-Kano gas project
THE issuance of a sovereign guarantee to the tune of 85 per cent of the Engineering Procurement and Construction (EPC)…
Coronavirus: Nigeria may review 2020 budget – minister
The fast-spreading coronavirus from China is threatening Nigeria’s main source of revenue – oil. To this end, the Federal Government…
Nigerians, operators kick as FIRS plans to impose VAT on sports betting
For a while, the sports betting industry in Nigeria has been rife with the news that the Federal Inland Revenue…
Pricing, infrastructure imbalance worsening Nigeria’s CNG investments deficit – NIPCO
Inappropriate pricing, infrastructure shortages and absence of a regulatory agency are partly responsible for investment deficit in Nigeria’s Compressed Natural…
FIRS eyes N4trn tax revenue from oil firms
In its bid to meet government’s 2020 revenue target, the Federal Inland Revenue Service (FIRS) on Tuesday said it hopes to…
Obiora assumes duty as CBN Deputy Governor
KINGSLEY Obiora has assumed duty as Deputy Governor of the Central Bank of Nigeria (CBN). He replaces Okwu Nnanna, who…
Despite Stamp Duty Charge, PoS Transactions Hit N874bn In 3 Months
Despite the implementation of the stamp duty charge of N50 on Point of Sale transactions above N1,000, the value of…
Dangote Refinery to employ over 70,000 workers, says CBN
Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said Dangote Refinery will employ over 70,000 Nigerians when it begins…
Unity Bank seeks more investment in creative industry
Unity Bank Plc has advocated more investments in the creative industry to drive its contribution to the Nigerian economy. Its Head,…
Carbon launches USSD service to enhance access to finance
Carbon, the Pan-African digital financial services company, has introduced a USSD service to its platform, making it even easier for individuals…
No more reward for bogus investors – Ahmed, Finance Minister
For bogus investors, the honeymoon is over! It is not going to be business as usual in Nigeria as the Minister…
Sanwo-Olu lauds Afriland’s Investment in Infrastructure
LAGOS State Governor, Babajde Sanwo-Olu has praised Afriland Properties Plc for the renovation and inauguration of the world-class eight-floor office…
Equities lose N209b amid panic selloffs
NIGERIAN equities lost N209 billion on Monday as investors overlooked earnings and dividend yields and opened up market orders to…
Coronavirus: Cost of Chinese products in Nigeria surge
Prices of Chinese phones imported into Nigeria have reportedly risen exponentially over the past couple of weeks owing to the…
Consolidated Hallmark opens N1.05bn rights issue
Consolidated Hallmark Insurance says it has received the approval of regulators to raise an additional sum of N1.05bn to increase…
World Bank’s IFC partners Nigerian bank to boost trade with $40 million
With local businesses often complaining about the availability of credit, Coronation Merchant Bank and International Finance Corporation, an arm of World Bank, have partnered…
IFRS 17: Insurers should develop business plan — NAICOM
The National Insurance Commission, NAICOM, has charged insurance companies to develop business plan in preparation for transition to IFRS 17…
We’re committed to curbing ponzi schemes – SEC
The Securities and Exchnage Commission has reaffirmed its commitment to ensuring that illegal fund managers in the country are not…
Investment Alert: The FGN Savings Bond is now open for subscription
The Federal Government of Nigeria, through the Debt Management Office (DMO), yesterday announced the opening of the March Savings Bond Offers. According…
Petrol subsidy cost drops 22.5%
The Federal Government, through the Nigerian National Petroleum Corporation, NNPC, paid N43.09 billion as subsidy on Premium Motor Spirit, PMS,…
GTBank posts N198.85bn profit, declares N2.50 final dividend
Guaranty Bank Trust Plc has declared a profit after tax of N196.85bn for the financial year ended December 31, 2019…
DisCos earn N473 billion in 2019, reveal reason for metering gap
A report by the Association of Nigerian Electricity Distributors has shown that the Distribution Companies (DisCos) in Nigeria recorded 8% growth in…
CBN prioritises economic stability with Obiora as the new DG policy directorate
Dr. Kingsley Isitua Obiora, yesterday, in Abuja, formally assumed office as Deputy Governor of the Central Bank of Nigeria (CBN),…
Investors lose N208bn as stock market declines further
The equities market on Monday extended downward trend to seven consecutive trading days as investors continued to sell-down amidst the…
International Breweries records 100% Rights issue subscription, raises N165bn
INTERNATIONAL Breweries Plc has recorded 100 percent subscription in its recently concluded Rights Issue. The company raised N165 billion on…
CBN Reports Slow Economic Activities In February
Business activity, production level, new orders, supplier delivery time, employment level and raw materials inventories grew at a slower rate…