archiveNovember 2016

Jail sentence proposed for holding dollars more than 30 days The Federal Government  plans to give the Central Bank of Nigeria (CBN) more power to control capital flows and prevent foreign-exchange being taken out of the country, including jail term and fines for offenders as authorities battle a shortage of...

As the equities market continued on a free fall, investors in Forte Oil Plc, Seplat Petroleum Development Company Ltd and Total Nigeria Plc and Nestle Nigeria Plc suffered a loss of N55.2 billion in one week. The decline of Forte Oil, one of the highly capitalised stock on the Nigerian...

To move the Nigerian economy forward and alleviate the problems facing the nation, the Senate President, Bukola Saraki, has said that the Senate was reviewing all the laws that made it difficult for people to do business in the country and also those that frustrated investors willing to come into...

The Central Bank of Nigeria (CBN) said on Thursday that 23 banks and International Money Transfer Organisations (IMTOs) disbursed over $660.17 million to 1,342 companies that accessed its foreign exchange in September. The CBN posted on its website that in September the companies were allocated the foreign exchange for them...

The Federal Government on Friday dismissed as untrue claims that President Muhammadu Buhari donated $500 million to Hillary Clinton campaign in the just concluded US election. A video, purportedly circulated by a US non-governmental group, the American Black Group for Democracy, had last week alleged that Nigeria donated $500m (about...

Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has said that the fund would be utilised for the development of Lagos-Kano rail line and rail lines connecting the South and South-east parts of the country. Enelamah who said this on Thursday said that infrastructure development has attracted the highest...

Amount to be settled through crude oil sales over five years Agreement is less than the $6.8 billion previously discussed Nigeria has reached a $5.1 billion settlement to reimburse foreign oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc for past operating costs. According to Bloomberg, the amount,...

Leading professional service firm, PwC, has said that HR leaders must help their organisations optimise talent as well as achieve a strategic balance between rewarding employees and costs to other relevant stakeholders for them to thrive in a constantly disrupted and divergent world. This was made known at the breakfast...

The Academic Staff Union of Universities (ASUU) which is on one-day warning strike has called on President Muhammadu Buhari to remove Mallam Adamu Adamu as Education minister. The ASUU Chairman, Federal University of Technology, Minna branch, Comrade Ndanitsa Attahiru, who made the call said the request was based on the...

Jumia Travel Nigeria has celebrated its third year of doing business in Nigeria and also marked the second edition of its awards ceremony in Lagos on Thursday. A total of 28 Lagos hotels were awarded under five categories namely, Customer Choice, Best Partner Hotel, Best Hotel Partner, Booking Award, and...