Business news
The Bank of Industry (BoI) recorded operating profit before tax of N17 billion in 2016, a 44 per cent increase over the N11.9 billion recorded in 2015. A statement by the bank in Lagos said Its loans and advances also rose by 10 per cent to N171 billion in 2016 from N156 billion in 2015. […]
The Emir of Kano, Muhammadu Sanusi II, says Kano state government has the capacity to generate a monthly revenue of N12 billion if each of its estimated 12 million people is charged a flat monthly rate of One thousand Naira. The Emir who made the assertion during the launch of the state Presumptive Taxation for […]
Wapic Insurance Plc has reiterated the need for Nigerians to engage in target savings. Target Savings, a savings account that helps holders save money for a specific purpose, is fast becoming the norm in building a sustainable savings culture particularly where it concerns specific financial goals or objectives. This is something Wapic Insurance is fully […]
New cases of suspected meningitis has started to decline as a large vaccination campaign, which will cover over 800,000 persons aged between two and 29 years has commenced in Sokoto State . As was contained in a press statement by Nigeria Centre for Disease Control NCDC , a total of 628 new cases were reported […]
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has appeared before the committee set up by President Muhammadu Buhari to investigate the $43million recovered by the Economic and Financial Crimes Commission (EFCC) from an apartment in Ikoyi, Lagos. Emefiele was summoned on Friday before the committee, headed by Vice-President Yemi Osinbajo and has […]
The Chartered Institute of Bankers of Nigeria (CIBN) and the Nigerian Bar Association (NBA) have signed a Memorandum of Understanding (MoU) on knowledge- sharing. The pact was signed at the World Conference of Banking Institutes (WCBI), which has come to an end in Lagos The Secretary-General of the NBA, Mr Isiaka Olagunju, said the two bodies […]
The Nigerian Minister of Mines and Steel Development, Dr Kayode Fayemi has said that the revitalization of the Aluminium Smelting Company of Nigeria (ALSCON) in Ikot-Abasi, Akwa Ibom State in Southern Nigeria is crucial to the diversification plan of the Federal Government. Dr Fayemi disclosed this to journalists shortly after taking a tour of facilities […]
Winifred Bosa A grave indifference has been observed by Nigeria LNG Limited (NLNG) on the part of Nigerian scientists towards finding a solution to malaria scourge in the country. And with this development , NLNG remarked that the situation may not augur well for global efforts to reduce malaria incidence and mortality rates by at least […]
Some private equity investors are considering investing in the two distressed local airlines that have been taken over by the Asset Management Corporation of Nigeria (AMCON). Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, stated that the investors had on the sidelines of the IMF/World Bank spring meetings held discussions with some members of the government’s delegation […]
The Central Bank of Nigeria (CBN) has commenced interventions in the new Investors and Exporters’ FX Window with the sale of 25 million dollars to customers. The apex bank’s spokesman, Mr Isaac Okorafor, in a statement in Abuja, said the window was established to boost liquidity in the forex market and ensure timely execution and […]