Business

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

AfDB To Invest $500m In Development Bank Of Nigeria
The African Development Bank (AfDB) has stated that it is investing about $500 million in the Development Bank of Nigeria (DBN).
CBN Sacked Bank Directors Over Non-performing Loans – NDIC
The NDIC has disclosed that most of the non-performing loans by the deposit money banks are insiders loan availed directors of the institutions.
FG Obtains List Of 500 Nigerians Implicated In Tax Fraud
The Federal Government has disclosed that it is now in possession of names of 500 Nigerians implicated in tax fraud.
The Securities and Exchange Commission (SEC) on Thursday said there was no controversy over the lifting of the suspension on trading on the shares of Oando Plc.
Oando Faces Setback In Court Case Against SEC
The bid by Oando Plc to have the Court stop the SEC from conducting a forensic audit of the company has hit a setback.
Nigeria Floats $3bn Dual-tranche Bond
Government says it has priced its offering of $3bn aggregate principal amount of dual series notes under its $4.5 billion Global Medium Term Note programme.
CBN Bans Importation Of Textile Materials
CBN Injects $210m Into FX Market
The Central Bank of Nigeria on Monday injected $210m into the inter-bank foreign exchange market.
Registrar
Banks Working Against Anti-corruption War – FG
The Federal Government has alleged that 19 commercial banks are working against its anti-corruption war.
Osun Shuts Down Dangote Quarry Over N1.5bn Tax Default
The Osun State Govt has shut down a Dangote Quarry located at Ayedaade local government area of the state over N1.5bn Tax Default.
FG Employs Malaysian Experts With N458m Over ERGP
The Federal Executive Council has approved a sum of N458m for the engagement of Malaysian consultants who will help Nigeria build her economic capacity.
Kogi River
Kogi IGR Hits N1bn Monthly
The Kogi state government on Wednesday said its Internally Generated Revenue (IGR) has hit N1 billion monthly. after blocking all leakages.
Budget Funding Is FG’s Biggest Problem – Udoma
The Minister of Budget and National Planning, Udoma Udoma, has fingered funding as the greatest challenge the executive faces when implementing budgets.
Inflation Declines To 15.91% In Consecutive Months – NBS
The National Bureau of Statistics has released the Consumer Price Index with the index dropping from 15.98 percent in September to 15.91 percent in October.
Aliko Dangote
Work To Begin On Apapa-Oworonshoki Expressway – Dangote
The President, Dangote Group, Aliko Dangote, has revealed that reconstruction work would start on the Apapa-Oworonshoki Expressway next week.
Nigeria’s Debt Stock Hits N20.37tn – DMO
The Debt Management Office (DMO) has said that Nigeria’s total debt stock has hit N20.37tn. In a statemen released in Abuja on Tuesday, the DMO...
Amina Mohammed Denies Involvement In $300m Timber Scandal
Deputy Sec-Gen of the UN, Amina Mohammed, has denied claims that she was involved in the illegal export of timber from Nigeria to China.
ndic
NDIC Warns Nigerians’ Against Investing In Bitcoins
The Nigeria Deposit Insurance Corporation (NDIC) ​has​ warned ​Nigerians ​against ​investing in digital currencies, especially Bitcoins​.
Jim Ovia Offers To Refund £11M Tax He Allegedly Evaded
Zenith Bank chairman, Jim Ovia, has offered to refund £10,892,166 being total value-added tax payment he allegedly skipped while importing two jets into EU.
CBN Bans Importation Of Textile Materials
Senate Blames CBN Laxity For MTN’s Álleged $13.9bn Repatriation
The Central Bank of Nigeria (CBN) has been accused of dereliction in the case of telecommunication giant, MTN, transferring monies out of Nigeria.
CBN Injects $195m Into Forex Market
The CBN has injected another $195m into the inter-bank foreign exchange (Forex) Market as it continues to lift the naira against other major currencies.
Saraki Tasks FG On Quick Implementation Of 2018 Budget
Senate President Bukola Saraki has urged the Executive arm of government to quickly implement the 2018 budget presented to the National Assembly.
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