Business
Xenophobia: Niger Delta Militants threaten 16 SA companies in Nigeria
More than 16 major South African investments in Nigeria, including MTN and Shoprite, have been asked to shut down operations in the country within one month, following the xenophobic attacks on Nigerians and their businesses in South Africa. The threat was given on Wednesday by a coalition of Niger Delta…
Read More »BRT fares hike takes effect today
The proposed hike of Bus Rapid Transit (BRT) and LAGBUS services fares in Lagos will take effect from today, March 1, 2017. To this end, patronises of the services will pay a bit more even without corresponding increase in their take home pay. Under the new price regime, commuting in…
Read More »Zenith Bank declares N129b profit amidst recession
Zenith International Bank Plc has declared a profit after tax of N129.65 billion and a final dividend of N1.77 per share for 2016. The company’s audited account released by the Nigerian Stock Exchange (NSE) on Monday in Lagos showed the bank grew its profit by 22.7 per cent, compared with…
Read More »FG boosts Agricultural sector with N750bn intervention
The Federal government has approved the sum of N750billion Agricultural Intervention Fund to bolster the sector towards food sufficiency, and to diversify the economy. Acting President, Professor Yemi Osinbajo, disclosed this during the inauguration of Senior Executive Course (SEC) 39 of the National Institute for Policy and Strategy Studies (NIPSS),…
Read More »OAS resumes operations
There are indications that the Asset Management Corporation of Nigeria (AMCON) may have resolved issues with Odengene Air Shuttle (OAS Helicopters) which it sealed off last weekend over alleged indebtedness. AMCON, it was gathered, had removed its seal and marks on the company’s property following the resolution of the issue.…
Read More »Our vehicles are test of our superiority: Mercedes-Benz
Managing Director of Weststar Associates, sole distributor of Mercedes-Benz products in Nigeria, Mirko Plath, has said that Mercedes-Benz products are designed to give car lovers a good driving experience. Plath who said this last Wednesday at the presentation of four new Mercedes-Benz vehicles in Lagos, Nigeria, said the vehicles are…
Read More »Bankers’ Committee to re-introduce charges on cash deposits April 1
The Bankers’ Committee has fixed April 1, 2017 to re-introduce charges on cash deposits by bank customers. The Director, Banking and Payment System, CBN, Dipo Fatokun, who announced this in a circular posted on the CBN website on Thursday  said that the Bankers’ Committee at its 493rd meeting held on…
Read More »Customs confiscates 1,870 bags of rice
The Federal Operations Unit (FOU) of the Nigerian Customs Service (NCS) On Wednesday raided the popular Sango market and confiscate about seven truckload of rice, and 43 kegs of vegetable oil allegedly smuggled into the country. The action got the traders angry prompting them to immediately mobilised to barricade the…
Read More »Made-in-India garri: Ogbe worries over consumption by Nigerians
The Minister of Agriculture, Chief Audu Ogbe has voiced his displeasure over the alleged importation of made in Indian garri in spite of the abundance of cassava and garri in the country. Chief Ogbe said he found the development strange and funny even as he noted his ministry will liase…
Read More »Nuru to take over from Balogun as FCMB CEO
First City Monument Bank (FCMB), has announced Adams Nuru as the new Group Managing Director of the bank effective March 20, 2017. The bank which made the announcement on Monday said the move is in line with the bank’s new re-organization plan. Ladi Balogun, the current GMD, according to the…
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