BUSINESS

Naira appreciates further, sells for N390 to $1 at parallel market

The value of the dollar continued to diminish against the naira as the Nigerian currency was traded at N390 at the parallel market on Thursday in Abuja. The News Agency of Nigeria reports that the Naira had also appreciated against ...

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DREAM COME TRUE: Tony Elumelu Foundation announces 1,000 successful 2017 applicants (SEE FULL LIST)

…93,000 APPLICANTS – 55 COUNTRIES AND TERRITORIES …1,000 ENTREPRENEURS SELECTED FOR AFRICA’S LARGEST ENTREPRENEUSHIP PROGRAMME ‎ The Tony Elumelu Foundation (TEF) is proud to announce the selection of 1,000 African entrepreneurs, creating the 3rd cohort of the 10-year, $100 million TEF Entrepreneurship Programme. ...

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ALLOCATION: FG, States, LGs share N429.127bn for February

The Federation Account Allocation Committee (FAAC) on Tuesday shared N429.1 billion, about N36 billion less than what the three tiers of government shared as revenue for January. And the shortfall, according to the Finance Minister, Kemi Adeosun was caused by ...

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Red Star restates commitment to service delivery after Abuja Airport closure

Nigeria’s foremost indigenous courier and logistics company, Red Star Express Plc has assured its clients and customers nationwide that the closure of the Abuja Airport will not affect its business. Abuja is a major destination for all courier business. Most ...

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Naira appreciates further, trades at N440-N445 per dollar

The Naira on Monday continued to extend its gains against the dollar at the parallel market, exchanging at N440 (buying rate) and N445 (Selling rate) to a dollar, from N445/N450 it traded on Friday, while the Pound Sterling and the ...

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AMCON sells Keystone Bank

The Asset Management Corporation of Nigeria (AMCON) has announced the sale of Keystone Bank, one of Nigeria’s commercial banks to to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf – Riverbank consortium). In a statement signed ...

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Nigeria is getting out of recession through agriculture

The presidential spokesperson, Garba Shehu, says efforts to get the nation out of its present economic challenges are beginning to yield positive results, especially in agriculture. The presidential aide said this in Abuja on Sunday. According to him, an increase ...

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Transcorp Hotels Plc Posts N4.5bn Profits, Announces a dividend of 40k per Share

…Shareholders Laud Transcorp Hotels’ performance, Approve dividend payment Transcorp Hotels Plc has announced a profit after tax of N4b at its 3rd Annual General Meeting which took place at Transcorp Hilton Abuja. At the meeting, the Shareholders of Transcorp Hotels ...

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NNPC to recover “disappeared” 130million litres of petrol from Capital Oil, MRS

The Nigerian National Petroleum Corporation (NNPC) on Friday said it had taken measures to recover 130 million litres of petrol that evaporated from the depots of Capital Oil & Gas  and MRS in Lagos. The NNPC Chief Operating Officer, Downstream, Mr ...

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Malabu Scandal: Court orders return of OPL 245 to Shell, ENI

A Federal High Court sitting in Abuja, has reversed its previous ruling which retrieved the control of one of Nigeria’s richest oil blocks, OPL 245, from Shell and ENI. The court had on January 26, issued an order, based on ...

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