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

FG To Sell 10 State-owned Coys To Fund 2018 Budget

NGO Hails Buhari’s Rejection Of Petroleum Industry Governance Bill

President Muhammadu Buhari was right for failing to assent to the Petroleum Industry Governance Bill (PIGB), a non-governmental organization, Social Action, has said. 
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CBN Pumps $210m Into Foreign Exchange Market

The Central Bank of Nigeria has injected $210 million into the various segments of the Inter-Bank Foreign Exchange Market.
Nigeria Ranked 3rd Richest African Country

Nigeria Ranked 3rd Richest African Country

Nigeria has been ranked as the third richest country in Africa with Lagos as the 4th richest city in the continent, according to the 2018 AfrAsia Bank Africa Wealth Report.
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FG Moves To Reclaim Transshipment Cargoes

The FG moves to reclaim its transshipment cargoes lost to other West African countries by constructing a rail line to some landlocked countries.

Buhari Lauds Jim Ovia’s Entrepreneurial Acumen

President Muhammadu Buhari has lauded the Founder and Chairman of Zenith Bank Jim Ovia, for his role in entrepreneurship in Nigeria.

PenCom Releases N86.7b To 275,000 Disengaged Workers

Acting Director-General of PenCom, Aisha Dahir-Umar, says N86.7 billion was released to sacked workers in several companies who took part in the Contributory Pension Scheme.

FG Plans N8.9tn For 2019 Budget

A total of N8.9tn is to be spent by the Federal Government in the 2019 fiscal period.
CBN To Sanction Banks Over Failed e-Transactions

CBN To Sanction Banks Over Failed e-Transactions

The Central Bank of Nigeria (CBN) has said it would sanction banks who fail to reverse customers failed Nigerian Instant Payment transaction in a day. 

Global Institute Ranks Nigeria Among Least Performing Economies

In a new report by McKinsey Global Institue, Nigeria and 10 other emerging countries have been ranked among the non-outperforming economies.

Nigeria’s Inflation Rises For The First Time In 18 Months

Nigeria’s inflation rose for the first time in August since it started its decline in January 2017.
Goldman Sachs Appoints New CEO

Goldman Sachs Names Waldron As New President

Goldman Sachs has named John Waldron as its new president and chief financial officer on Thursday.
The African Development Bank (AfDB) has approved $15 million for equity investment in Verod Capital Growth Fund III in Nigeria and other West African nations. 

AfDB Doles Out $15m For SMEs In Nigeria, Others

The African Development Bank (AfDB) has approved $15 million for equity investment in Verod Capital Growth Fund III in Nigeria and other West African nations. 
FIRS Makes N13bn From Billionaire Tax Defaulters

FIRS To Stop Multiple Taxations In LGs Across Nigeria

The Federal Inter Revenue Service (FIRS) has said called on local government councils to accept stickers issued from other regions in the country. 
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Nigeria Rated Best Economy In Africa

Nigeria has been rated as the 2018 best economy in Africa, according to a major research firm, Forbes Africa.
FG Explains Why It Is Borrowing From China

FG Explains Why It Is Borrowing From China

Nigeria is borrowing from Asian country China to diversify its sources of borrowed funds, the Debt Management Office (DMO) has said.
Fuel Subsidy Payment Gulping Nigeria's Fund For Education- US

Fuel Subsidy Payment Gulping Nigeria’s Fund For Education- US

The United States Agency for International Development (USAID) has said Nigeria is using resources meant for education and health for fuel subsidy payment.
Osinbanjo Launches Trader Moni In Calabar (Photos)

Osinbajo Launches Trader Moni In Cross River (Photos)

Vice President Yemi Osinbajo on Wednesday launched the Federal Government empowerment scheme Trade Mon in Cross River State.
NCC Wants Amicable Resolution Of MTN, CBN Dispute

NCC Wants Amicable Resolution Of MTN, CBN Dispute

The Nigerian Communications Commission (NCC) has said it is seeking an amicable resolution of the rift between the Federal Government and telecom giants MTN.

FG, States, LGs Share N2tn In Three Months

The 3 tiers of government shared N2tn in the second quarter of this year, as a result in the increase in crude oil price as well as domestic oil production.
We Followed Due Process In Award Of Escravos Contract, Says NPA

We Followed Due Process In Award Of Escravos Contract – NPA

The Nigerian Ports Authority (NPA) has insisted it followed due process in awarding the contract for the dredging of the Escravos Bar in Warri, Delta State. 
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