Business news
The Nigerian Government has no plan to sell one of the country’s national monuments, the National Theater located in Lagos, the former capital. Minister of Information and Culture, Lai Mohammed revealed this in the city of Cannes in France during a round table discussion with some Nigerian television and online content developers on the sidelines […]
Amaka Obiefuna. N3.13 billion; that is what FBNInsurace recorded as Profit Before Tax (PBT) in its 2016 operation. When you compare this result to that of the previous year which is N1.8 billion; it represents a whopping 70% increase in profit, though, the insurance firm’s gross premium written (GPW) dropped by four per cent from […]
Amaka Obiefuna. The NCRIB, Nigeria Council of Registered Insurance Brokers says the Central Bank of Nigeria (CBN) should be praised for strengthening the naira. Kayode Okunoren who is the President of the council made this commendation at the 2017 first quarter press conference in Lagos. Mr Okunoren said it is heartwarming that in the last […]
The National Union of Petroleum and Natural Gas Workers, NUPENG, has suspended its nationwide strike following the timely intervention of the Nigerian National Petroleum Corporation. The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru said the intervention was in the national interest. Mediating over the face off between the Petroleum Tanker […]
The Lagos State Government has expressed its readiness to tap into the agriculture expertise of Israel for greater benefit. The State Governor Mr. Akinwunmi Ambode said this as he received the Ambassador of State of Israel to Nigeria, Mr Guy Feldman on courtesy visit at Lagos House, Ikeja. Cordial relationship Governor Ambode said;“it was time for […]
The naira on Monday depreciated further at the black market in spite of the commitment of the CBN to boost liquidity in the market, the News Agency of Nigeria (NAN) reports. The naira lost two points to exchange at N395 to the dollar from N393 recorded on Friday, while the pound sterling and the Euro […]
Amaka Obiefuna. A bill that proposes to extend jail term for people convicted of economic and financial crimes from two years to 20 years has passed its second reading at the House of Representatives. The bill is part of an amendment of the Economic and Financial Crimes Commission Act, 2004 obtained by the Punch. Lawmakers […]
Fidelia Okafor. An illegal refinery has been destroyed at Obazagbon near Ehor in Uhumwode Local Government Area of Edo State. Brig.-Gen Ibrahim Garba, Commandant, 4 Brigade, Nigerian Army , led the Operation Thunderstorm Special Force to destroy illegal oil refinery camp in the area. Garba commended members of the public for their useful information which […]
Amaka Obiefuna. The Central Bank of Nigeria (CBN) has reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end users. The apex bank’s acting Director, Corporate Communications; Mr Isaac Okorafor in a statement said the bank wants to […]
Fidelia Okafor. The UN Security Council has unanimously adopted its first resolution addressing boko haram’s presence in the Lake Chad Basin. The resolution followed a report of its mission to the region earlier this month. In unanimously adopting the resolution 2349 (2017), the Council expressed concern about the protection of civilians affected by terrorism. The […]