OTHER BUSINESSES

Every Nigerian who owns a small business understands that the customer is the major source of sustenance for his trade. These days in Nigeria though, no one wants to be sold to, and so most small business owners are now finding it extra hard to attract customers. Some of them...

Managing Director, Guinness Nigeria Plc, Mr Peter Ndegwa, has reiterated the company’s commitment to increase the use of local raw materials such as sorghum and maize which have been part of its sourcing strategy for over a decade now. He also announced the company’s intention to raise the use of...

The nation’s leading telecommunications company MTN, accused of illegally repatriating $13.9 billion from Nigeria, said in a statement on Friday that it failed to comply with the law requiring issuance of Certificates of Capital Importation (CCIs) within 24 hours of conversion because it was an administrative requirement. According to MTN...

Nigeria Customs Service (NCS) has dismissed 29 senior officers for various acts of gross misconduct. The dismissed officers are among 44 senior officers punished for actions capable of compromising national economy and security. Officers affected in this exercise were said to been investigated for involvement in improper examination and release...

The World Bank has raised its 2017 forecast for crude oil prices to $55 per barrel from $53 per barrel as members of the Organization of the Petroleum Exporting Countries (OPEC) prepare to limit production after a long period of unrestrained output. Energy prices, which include oil, natural gas and...

Arik Air, one of Nigeria's leading airlines, plans to raise as much as $1 billion through a Private Placement next year and then a possible Initial Public Offering (IPO) in Lagos and London, its Managing Director told Reuters. According to Reuters’ report monitored by Business247 News Online,the airline wants to...

The global multi-disciplinary professional consulting conglomerate, PwC Nigeria would be facilitating a forum of over 3,000 experts on project development and finance in Calabar. The programme which is the forum of Education Sector Investment Promotion Initiatives (EDU-INVEST) Nigeria has been scheduled for between November 1 and 3 2016. PwC has...

Stanbic IBTC Pension Managers Limited said it has paid over N200 billion to retirees since it commenced operations in 2005. It added that in its 12 years of existence, the Pension Fund Administrator (PFA) has over one million Retirement Savings Account (RSA) holders and assets under management in excess of...

Barring any last minute changes, the implementation of Risk Based Supervision (RBS) may commence in insurance industry latest by December this year, Business247 News Online has learnt. Already, the National Insurance Commission (NAICOM) has come up with a draft to which the insurance operators are expected to make inputs in...

The Lagos Chamber of Commerce and Industry in collaboration with the Financial Derivatives Company, a renowned economic consultancy firm, is set to hold a public-private dialogue on Port Efficiency and Maritime Sector Roadmap in Nigeria. The objective is to design a roadmap for the transformation of the Nigerian maritime sector...