archiveAugust 2016

Federal Government plans to offer 212.85 billion naira ($675 million) in Treasury bills maturing between 91-days and 1-year on Aug. 31, the Central Bank of Nigeria said on Friday. The apex bank, according to Reuters report monitored by Business247 News Online, said it will sell 45.85 billion naira worth of...

Travel & Tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurship for the workforce and protecting heritage and cultural values. To fully understand its impact, however, governments, policy makers and businesses around...

  A total of N493.828 billion has been shared as federal allocation for the month of July 2016 by the Federal Government, State governments and Local Government Councils. According to the figures released by Office of the Accountant General of the Federation (OAGF), the gross statutory revenue including solid minerals...

United Bank for Africa Plc (UBA) announced its audited 2016 half-year financial results for the period ended 30 June 2016, showing that the bank recorded a significant growth in total assets, rising 20 per cent to N3.3 trillion from N2.75 trillion as at December 31, 2015. Following the performance, the...

Following the recent suspension of nine Nigerian banks from the foreign exchange market as a result of alleged non remittance of NNPC fund into the Treasury Single Account (TSA), a whole heat blame game has suddenly erupted. NIYI JACOBS, therefore, writes on the reactions coming from various banks as they...

The Chartered Institute of Bankers of Nigeria (CIBN) has concluded arrangements to hold the 10th Banking and Finance Conference, slated for September 6 to 8, 2016, at Transcorp Hilton Hotel, Abuja. President Muhammadu Buhari is expected as the Distinguished Guest of Honour, while the Governor of the Central Bank of...

  Chairman of the United Bank for Africa (UBA) and Founder of the Tony Elumelu Foundation, Mr. Tony O. Elumelu, said entrepreneurship remains a veritable solution to reduce poverty in Nigeria. Elumelu, who is also the Chairman, Heirs Holding, restated his conviction that entrepreneurship is the viable means to end...

Naira was quoted at an all-time low of 409 to the dollar on the black market on Thursday, compared with 402 the previous day, after the suspension of some banks from forex trading made dollars even harder to obtain. This is according to Reuters’ report monitored by Business247 News Online....

Budding entrepreneurs who attended the first edition of the Nigerian Small Business Summit on the 24th August at the Landmark event centre were warned to stay away from bank loans at the start of their businesses. Mr. Kushal Dutta, Managing Director of Africa’s number one hotel booking portal Jumia Travel...

For allegedly excluding Christians during his visit, the United States (US) Secretary of States, Mr John Kerry, the Christian Association of Nigerian (CAN) on Thursday said he was discriminatory, personal and divisive.condemns The organisation, therefore, warned him to stop interfering in the internal affairs of the country, saying the visit...