OTHER BUSINESSES

Nigeria’s foreign exchange (FOREX) reserves rose above $30 billion as of March 8 to its highest level since October 2015, Central Bank of Nigeria (CBN) data has shown. Nigeria’s dollar reserves have increased by 15.02 per cent since the start of the year, data showed, but were far off their...

A consortium of foreign and Nigerian banks on Wednesday took over Etisalat Nigeria as the telecommunications company failed to pay a loan totalling $1.72 billion (about N541.8 billion) it was granted in 2015. The Nigerian banks are Guaranty Trust Bank, Access Bank and Zenith Bank. A former GTB top management...

Nigeria is to restructure Bank of Agriculture (BOA) to facilitate farmers’ access to loans and encourage youths’ participation in farming. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, told the News Agency of Nigeria (NAN) in Abuja that the move was to encourage farming and boost food production....

Nigeria's trade balance turned positive in the fourth quarter of 2016 after exports rose by more than half, the National Bureau of Statistics (NBS) said on Saturday, the first positive reading since the same quarter a year ago. But the country’s economy shrank by 1.5 percent over the course of...

As a part of its women empowerment initiative and sustained drive towards showcasing innovative women led technology entrepreneurs, Dangote Group sponsored the “Women in Technology Session” at the ongoing Social Media Week. Speaking at the session, Halima Dangote, Executive Director and daughter of Africa’s richest man, premised Dangote Group’s support...

The Nigeria National Petroleum Corporation (NNPC), has shut down the Warri refinery after gas turbine generators that supply power to the plant was said to have tripped off. The 125,000 barrel per day refinery only resumed production in January, after its Crude Distillation Unit (CDU) was revved up and it...

The Managing Director of Med-View Airline, Alhaji Muneer Bankole, has said that by April this year, the airline would expand its operations to Francophone countries within the West African states. Also, in the next three months, the airline would be hitting the market with an initial public offering (IPO) to...

First Ally Asset Management said the company, a fund manager and Top Services Limited (TSL) are floating a N20 billion Real Estate Investment Trust (REIT) on The Nigerian Stock Exchange (NSE) The close-ended REIT offer, consisting of 20 million units for subscription at N1, 000 per unit opened from February...

By Abdul Olalekan Insurance brokers in the country said insurance industry was awaiting the implementation of the 2017 national budget to drive insurance activities in the current year, following a tough operating environment in 2016. Speaking on behalf of the brokers in an exclusive interview with Business 247 News Online...

Sometime in May of 2016, Lagos State, alongside Enugu State and hundreds of other cities around the world was nominated by the Rockefeller Foundation in the 100 Resilient Cities project. The project is dedicated to helping cities around the world become more resilient to the physical, social and economic challenges...