Business

The latest business news in Nigeria, Africa and the world.

NCC Vows To Monitor Service Providers For Quality Delivery
Nigeria Communications Commission (NCC) has reiterated its commitment toward making sure Telecom Service Providers deliver services that are up to standard to their customers.
NEC Endorses Scheme To Tackle Tax Evasion, Expand Tax Net
The National Economic Council has approved the implementation of the Voluntary Asset and Income Declaration Scheme (VAIDS) aimed at addressing tax evasion.
CBN Announces 9% Interest Rate Loans For Manufacturing, Agric., Other Selected Sectors
CBN Receives Bid For $100m From Authorised Dealers
CBN says it has received bids for foreign exchange of about $100m from authorised dealers in the interbank market to meet the requests of genuine customers.
aero
Aero Lays Off 60 Percent Of Workforce To Save Cost
The airline lays off workers after grappling with huge and unrealistic personnel cost as well as other operational challenges worsened by lack of enough aircraft to keep all the workers meaningfully engaged.
FG Pays Agro-Dealers N22bn To Cut Down Price Of Fertiliser
President Muhammadu Buhari has approved the payment of the outstanding N22bn to dealers of agricultural inputs, popularly known as agro-dealers.
Governor Akinwunmi Ambode
Lagos Records N301bn As IGR; A N32.99bn Rise — NEITI
The Lagos state government recorded an internally generated revenue (IGR) of N301.19 billion in 2016, according to a report by NEITI.
New Projects
Dangote: MAN Diesel & Turbo Compressors To Be Used At Lekki Refinery
Dangote Corporation has placed a double-digit million-dollar order for two compressor trains to be delivered by Germany-based MAN Diesel & Turbo to Dangote Oil Refining Company.
Presidency Writes National Assembly For Additional $500m Eurobond
The Presidency has written to the National Assembly requesting for another $500 million Eurobond to finance capital projects in the 2016 Budget.f
Fayemi Finally Speaks On His Election As NGF Chairman
FG To Sell Ajaokuta To Private Contractors
The Federal Government has said it will sell the Ajaokuta Steel Complex to a private sector operator with the capacity to turn around the fortunes of the troubled company.
CBN Governor Emefiele Unveils 5-year Agenda
Foreign Exchange: CBN Pumps In Another $195m To Sustain Forex Supply
Central Bank of Nigeria (CBN) has on Tuesday sustained the supply of foreign exchange to the market by releasing 195 million dollars.
We Will Release Corruption Survey Findings By Sept- NBS
Inflation Drops By 0.94 % In February
The National Bureau of Statistics (NBS) on Tuesday said that inflation declined by 0.94 percent in February, the first time in 15 months.
Extend BVN To Micro-Finance Banks, FG Tells CBN
The Minister of Finance, Kemi Adeosun, has asked the CBN to extend the BVN, as a requirement for account holders in Micro-finance Banks.
Emefiele Resumes Second Term As CBN Governor
We Can’t Allow Criminals Destroy The Naira – CBN
Godwin Emefiele, the CBN Governor, has said that the bank would not allow criminals to destroy the currency under the guise of a free float.
Etisalat N541.8bn Debt: NCC, CBN Officially Stop Etisalat’s Takeover
NCC and CBN have stopped the takeover of Etisalat by consortium of some foreign and Nigerian banks over the N541.8bn loan default crisis facing the company.
Economic Recovery Growth Plan Might Fail – Soludo
Soludo gives his take on the FG's economic recovery plan. He opines that unless the country stops being dependent on oil revenue, the plan is doomed to fail.
Nigeria’s Economy Resilient, Adeosun Insists
The Minister of Finance said that in spite of the oil price shock and drop in production volumes, the Federal Government had succeeded in utilising the situation to reposition the Nigerian economy.
Naira Appreciates Against Dollar
Forex: Naira Crashes At The Parallel Market
The naira on Friday, March 10, crashed against the American dollars, pound sterling and euro at the parallel market.
Oil Price Drops Further As Supply Rises
Brent crude declined further on Thursday, hitting its lowest level since December, as the United States’ crude inventories climbed to a new record high.
CBN Injects Additional $170m In Interbank Market
In a statement, the apex bank said while the sum of $100m was offered as wholesale interventions, the sum of $70m was released to meet the requests for Business and Personal Travel Allowances.
Fani-Kayode
Nigeria To Raise N213.7bn Treasury Bills Next Week
The Central Bank of Nigeria (CBN) has disclosed Federal Government's to raise N213.75bn ($681m) from short-dated Treasury bills at an auction on 15 March.
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