OTHER BUSINESSES

The Federal Government said it has cleared the inherited arrears of accrued pension benefit for pensioners who retired under the Contributory Pension Scheme for the year 2014, 2015 and 2016 by releasing N41.5 billion to the National Pension Commission (PENCOM) for onward paymen to the retirees. Minister of Finance, Mrs....

China has offered Nigeria a $4.5 billion loan for agricultural machinery and infrastructure, a Nigerian state governor said on Tuesday. Zamfara state governer Abdulaziz Yari said the loan had a 20-year repayment period at an interest rate of 1 percent. "China is giving us a credit line of $4.5 billion...

The British Government will give the Federal Government information about Nigerians who own property in that country next year, a presidential aide has said. Bolaji Owosanoye, Executive Secretary, Presidential Advisory Committee against Corruption, told the correspondent of the News Agency of Nigeria (NAN) in New York that negotiations on this...

The Lagos State Government has released N582.19 million for the payment of 109 retirees’ entitlements for the month of March. A statement from the Lagos State Pension Commission explained that since the beginning of the administration of the incumbent Lagos State Governor, Akinwunmi Ambode, the state has paid 5,956 retirees....

The Central Bank of Nigeria (CBN) has said the Manufacturing Purchasing Managers’ Index (PMI) moved to 47.7 index points in March 2017, indicating declines in the manufacturing sector for the third consecutive month but at a slower rate. The PMI report by CBN said 13 of the 16 sub-sectors reported...

As part of efforts aimed at boosting exports in Nigeria, Fidelity Bank has continued to be the vanguard of providing capacity building initiatives for customers and the business community across the country. To this end the bank in collaboration with the Nigerian Export Promotion Council (NEPC) and Ghanaian based West...

Experts in the travel and tourism industry have stated that cooperation among the major stakeholders in the industry is the panacea for growth. This was stated at the recently concluded Tourism Summit which had the theme “Redefining the Roles of Industry Stakeholders in Shaping the 21st Century Travellers Experience”. The...

South Africa's Tiger Brands is still interested in investing in Nigeria despite pulling out of a flour milling business it acquired that never turned a profit, local conglomerate UAC said on Friday. UAC's chief executive said its partnership with the food company was paying dividends and in recent conversations the...

A Nigerian pilot has become the first African to fly solo across the world, Nigeria’s privately owned daily newspaper, The Punch, reports . Ademilola “Lola” Odujinrin, 38, a Boeing 737 pilot with Air Djibouti, spent just over eight months to complete the historic feat, flying a single-engine light aircraft across...

As part of efforts at continuing to meet the tastes and lifestyles of the Nigerian consumers, Euro Global, a leading foods and distilleries company, has launched two new products into the Nigerian foods and drinks market. The two new products, Power Spirits Drink (bottle and Can) and Golden Choco were...