archive2018

  The House of Representatives on Tuesday resolved to probe the alleged loss of over N2 billion and $3.8 million as a result of the non-payment of interest by banks from sale proceeds of the Power Holding Company of Nigeria (PHCN) successor firms. The House resolved to set up a...

  The U.S. has announced about 533 million dollars in humanitarian assistance for Nigeria, Ethiopia, Somalia, and South Sudan, as well as countries in the Lake Chad region. U.S. Secretary of State Rex Tillerson said millions of people were facing life-threatening food insecurity and malnutrition as a result of ongoing...

  It whittles down EFCC, police powers The National Assembly yesterday passed into law the bill aimed at establishing the Nigeria Financial Intelligence Unit (NFIU) in line with international best practices. If assented to by President Muhammadu Buhari, the NFIU, which hitherto was under the Economic and Financial Crimes Commission...

The domestic bourse sustained a positive start to the week as the NSE All -Share Index gained 0.2 per cent on Tuesday to settle at 43,609.77 points while YTD return expanded to 14.0 per cent. In turn, investors gained N34.4 billion in value as market capitalization increased to N15.7tn. The...

  The Securities and Exchange Commission (SEC) has notified Nigerians of an impending forensic audit into the affairs of Oando PLC, the nation’s capital market regulator said on Tuesday it was set to commence the exercise. The acting Director General of the Commission, Dr. Abdul Zubair, said the decision to...

*Says Boko Haram war must henceforth be fought on all fronts; from the financial networks that sustain terrorists to the cyberspace that amplifies their noise “But there should be no room for self-pity or frustration on our part. The Dapchi and Rann incidents should, if anything, rekindle our determination, as...

Nigeria’s Fidelity Bank expects loans to grow at a faster pace this year than the 7.5 per cent it forecast for 2017, helping lift profits after treasury yields fell, an executive told Reuters. Nigeria, which emerged from its first recession in 25 years last year, has been working to lower...

  President Muhammadu Buhari has observed that with the right leadership and implementation of public policies, Africa’s drive to eradicate poverty and entrench democracy is now on course. He made this observation on Tuesday in Accra, at Ghana’s 61st Independence anniversary celebration which took place at the Independence Square in...

  Amazon founder and chief executive, Jeff Bezos, has been named by Forbes Magazine in its latest edition as the world’s richest man with $112 billion dollar fortune. He replaces Microsoft co-founder, Bill Gates, who fell back into second place with $90 billion dollars. Forbes calculated that Bezos’s fortune, which...

  The Manufacturer Association of Nigeria (MAN) has appealed to the Lagos State Government to reverse its current increment of land use charges to ensure the survival of the manufacturing sector. MAN President, Dr Frank Jacobs, made the plea on Tuesday in an interview in Lagos. Jacobs said that the...