archiveAugust 2016

The Tin-Can Island Customs Command has intercepted 31 containers of 14,000 bags of rice valued at over N71 million. The Deputy Comptroller-General of Customs in charge of Enforcement, Dan Ugo, stated this when he conducted newsmen round the seizure on Friday. He said that the rice  was imported from China....

  …proposes N0.25 interim dividend. Access Bank announces its audited results for the half year ended June 30, 2016 with profit before tax and profit after tax gaining 28 per cent and 26 per cent respectively. The bank’s Profit Before Tax (PBT) up by 28 per cent to ₦50.0 billion...

  We read the statement by Chief John Oyegun, chairman of APC, to the effect that PDP has no right to speak about President Buhari’s economic failures & felt compelled to respond for record purposes. First of all, Section S39 CFRN guarantees all Nigerians the right to freedom of expression....

The Nigerian Stock Exchange (NSE) equities market segment reversed yesterday’s losses as key market indices added 0.84 per cent in contrast to a decline of 0.06 per cent recorded previously day. The NSE All-Share Index specifically gained 229.33 basis points to close at 27,650.32 basis points, while the Market Capitalization...

As part of efforts to boost the nation’s economy, the Federal Government is to allocate N60 billion naira ($180 million) more spending on capital projects as part of the 2016 budget. Finance Minister, Mrs Kemi Adeosun, who disclosed this on Friday in an interview with Reuters, said this is in...

Naira ended 5.2 per cent higher at 308 per dollar on Friday after the Central Bank of Nigeria (CBN) sold dollars to support the currency, traders said. According to Reuters report, the naira, which touched an all-time low of 365.25 on Thursday, closed at 324 per dollar in the previous...

As part of its Corporate Social Responsibility (CSR) focus on the environment and in support of the Federal Government’s plan to sustain the environment while reducing desertification, Sterling Bank has concluded plans to carry out tree planting exercise in three states in Northern Nigeria. Nigeria is faced with rapid desert...

Reacting to a recent story by Bloomberg that South African has overtaken Nigeria as the largest economy in Africa in dollar terms, President of Dangote Group, Alhaji Aliko Dangote said Nigeria economy remains number one in Africa. Many have therefore being reacting to these. Business 247 News Online captures what...

Following the Central Bank of Nigeria (CBN) Commission on Turnover reduction to N1 per mille on every N1000, Deposit Money Banks (DMBs) in the country have leverage on income generation using electronic banking. For instance, Guaranty Trust Bank, Zenith Bank Plc and First Bank of Nigeria Holdings Plc generated a...

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has charged the Management of Jaiz Bank Plc to strengthen its corporate governance in order to weather the storm of economic challenges that is currently facing Nigeria’s banking industry. The Corporation chief, gave the advice during a courtesy...