archive2018

  The value of capital imported into Nigeria rose 29.9 percent in the fourth quarter to $5.32 billion, as economic activity gathered pace after the first recession in a quarter century, the National Bureau of Statistics (NBS) said on Thursday. Capital imports stood at $12.2 billion for 2017, up from...

  When Nigerian President Muhammadu Buhari took office three years ago, eradicating the“mindless, godless” militants of Boko Haram and rescuing the hundreds of women and children they held captive was one of the main pledges in his inaugural address. Another mass abduction of schoolgirls in the dusty and remote northeast...

  Anheuser-Busch InBev (AB InBev), the world’s largest beer maker, expects its new $250 million brewery being built in Sagamu, Nigeria, to start production in the middle of this year, the head of its Africa operations said on Thursday. “For the long term, in five to 10 years, Africa will...

  Nigeria’s Union Bank is working with Citigroup and Renaissance Capital on a planned Eurobond sale, two banking sources told Reuters, following on from its $163 million share sale in the fourth quarter to boost lending. The bank’s plans also follow Nigeria’s $2.5 billion Eurobond sale in February to refinance...

The Police Command in Taraba has confirmed that five people were killed and several others injured in fresh attacks on Fulani communities by suspected Mambilla militia in Sardauna local government area of the state. The state’s Police Public Relations Officer (PPRO), ASP David Misal, disclosed this to  the News Agency...

  Lagos Chamber of Commerce and Industry (LCCI) has said that all is set to hold a Dialogue Session on the new Land Use Charge Law in Lagos. In a statement on Friday by the Director General of LCCI, Mr. Muda Yusuf,  said the session was aimed at examining the...

  The Lagos State Government said on Friday that it would phase out the use of plastic bottles in the state by 2023. The Special Adviser to Gov. Akinwunmi Ambode on Cleaner Lagos Initiative (CLI), Mr Adebola Shabi, made the disclosure in an interview in Lagos. Shabi said that plastic...

The Nigeria Deposit Insurance Corporation (NDIC) has joined the Central Bank of Nigeria (CBN) to warn Nigerians to avoid trading in bitcoins and crypto-currencies. NDIC said that there was 100 per cent risk involved, as they were neither issued by the CBN nor insured by NDIC. The Managing Director/Chief Executive...

Oando Plc has announced a delay in releasing their 2017 full year financial result. In a statement by the company, on Thursday, Oando explained that a request by the Financial Reporting Council of Nigeria (FRCN) to undertake a more detailed review of the company’s results was the reason for the...

  The Nigerian Communications Commission (NCC) says there are about 140m phone subscribers in the country as at September 2017. Speaking at the NCC Day at the on going 39th Kaduna International Trade Fair on Thursday, the Executive Vice Chairman of NCC, Professor Umar Garba, remarked that the country’s communication...