BUSINESS

PRESIDENCY: No $25bn contract awarded in NNPC

The Presidency on Sunday said no contracts worth 25 billion dollars were awarded by the Nigerian National Petroleum Corporation (NNPC). It also said that 25 billion dollars was not missing in the corporation. Mr Laolu Akande, Senior Special Assistant to ...

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Graphic Report: How 36 states shared N173.8bn from FAAC in September

The 36 states shared N173.8 billion from the Federation Account in September from the distributable revenue generated for the month. The breakdown was obtained by the News Agency of Nigeria (NAN) in a report from the office of the Accountant-General ...

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Court orders forfeiture of N1.4bn governors paid to consultants

Governors Forum

A federal high court in Lagos on Friday issued an order directing Access Bank Plc and Guaranty Trust Ltd to surrender N1.4 billion Paris and London Club loans in their custody. Mojisola Olatoregun, a judge, ordered the banks to temporarily ...

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NIPOST to introduce banking service

The Nigeria Postal Service (NIPOST) will soon introduce agency banking service in addition to the re-introduction of money order to its clients. Mr Godwill Magulike, the District Manager of NIPOST in Kwara state, told the News Agency of Nigeria (NAN) ...

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Tony Elumelu: To make progress we must prioritise SMEs and the Creative Sector

Elumelu speaks on SMEs

The Chairman of African proprietary investment company, Heirs Holdings, Tony O. Elumelu, CON has called on the government to prioritise SMEs, the Creative Sector and access to electricity to drive job creation, inclusive growth and the diversification of the economy. ...

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BEWARE! FG is now collecting your details from banks – to determine your tax

If you have received huge sum of money in the last five years without paying commensurate taxes and you are yet to take advantage of the tax amnesty programme, the government is coming for you. In a statement issued on ...

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Nigeria’s economy to grow faster than South Africa’s in 2017 – IMF

IMF

Nigeria’s economy will grow faster than that of South Africa in 2017, this is according to the International Monetary Fund (IMF). This is a reverse from the fund’s earlier projection in July that South Africa’s economy will grow by 1% ...

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2017 Budget: Buhari seeks senate approval for $5.5bn loan

NIGERIA – President Muhammadu Buhari in a letter sent to the senate, asked the latter to approve a loan of $5.5 billion to fund the 2017 budget. The president also said the 2017 budget had a deficit of N2.356 trillion. ...

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Dangote revels success secrets, says”we are not going to import anything any longer”

Aliko Dangote, Africa’s richest man, has revealed the secret of his business success: self-sufficiency and backward integration, a manufacturing strategy that extracts value from entire processes. “We are not going to import anything any longer,” Dangote said, in the presence ...

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Our contracting process is perfect… We will continue to follow it – Baru

Maikanti Baru, group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), says the contracting process of the group is perfect and that they would continue to follow it. Speaking on Monday when he received leaders of some unions ...

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