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Category: Business
Only seven banks can meet CBN recapitalisation requirements – Report
No fewer than 17 out of the existing 24 Deposit Money Banks may be unable to meet the Central Bank of Nigeria’s capital requirement if it…
Reps To Summon Dangote, BUA, Others Over Rising Cement Prices
The House of Representatives has mandated its Committees on Solid Minerals Development, Commerce, Industry and Special Duties to investigate the arbitrary increase in the price…
Nigeria’s agric exports facing rejections overseas – WTO DG
The World Trade Organisation says Nigeria has lost its leading position in the agriculture export markets because its agricultural commodities do not meet the sanitary…
FG begins talks with aircraft lessors
The Federal Government has said it is currently discussing with aircraft leasing and manufacturing companies in a move to stimulate local investments in the country’s…
MTN Nigeria incurs N740 billion in forex losses, shareholders funds wiped out
MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion a year earlier. The losses resulted in…
256 MDAs violated regulations, spent over N284bn without approval – OAuGF
The Office of the Auditor General of the Federation has indicted about 256 Ministries, Departments and Agencies of the Federal Government for violating extant laws…
World Bank spends $15b on 30 projects in Nigeria
The World Bank has committed over $15 billion to support 30 development programmes across Nigeria. In a statement, the World Bank said the programmes are at the…
NNPCL, CBN Set Limit For Oil Revenue Management
The Nigerian National Petroleum Company (NNPC) Limited has collaborated with the Central Bank of Nigeria (CBN) to set limits for the management of the oil…
MultiChoice To Pay $37.3m To Nigeria For Tax Settlement
Pan-African Television broadcaster MultiChoice Group has disclosed that its subsidiaries have reached a settlement with Nigerian tax authorities and have agreed to pay a total…
Shell, Partners Seal 10-Year Gas Supply Deal For Dangote Plant
The Shell Petroleum Development Company of Nigeria Limited (SPDC) says it has taken a final decision with its joint venture partners to build a dedicated…