BUSINESS

CBN’s new FOREX guideline gives you $16,000 PTA per year, $15,000 per semester

The Central Bank of Nigeria (CBN) says every Nigerian, 18 years or older, is entitled to $4,000 per quarter of $16,000 per year for personal travel allowance (PTA) under the guidelines for the adjusted foreign exchange policy. On Monday, CBN ...

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CBN provides banks with forex for school fees, medical payments

As part of efforts to alleviate the hardship experienced by Nigerians in need of forex for school fees, traveling allowance and medical treatment, the Central Bank of Nigeria (CBN) has provided additional forex to financial institutions across the country. Isaac ...

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Goodie Ibru resigns position as Chairman of Ikeja Hotels

Goodie Ibru has resigned as chairman of Ikeja Hotels Plc. His resignation came barely two months after a judge in Abuja backed up his claim as the chairman of the hotel group, amidst a rancorous  family dispute, involving Maiden Ibru, ...

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REDTV Extends Presence to Francophone Africa, Premiers Boutique Hotel

REDTV, a dynamic online lifestyle channel that puts the spotlight on Africa with a distinct global appeal,launched its Francophone version on Thursday. The fun-filled event, supported by  the United Bank for Africa (Plc), was held at the Azalaï Hotel in Abidjan Cote d’Ivoire.  It ...

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NIGERIA – inflation rate hits 18.72 % in January

The National Bureau of Statistics (NBS), says Consumer Price Index (CPI), which measures inflation increased by 18.72 per cent (year-on-year) in January from 18.55 per cent recorded in December, 2016. The CPI, which measures the average change over time in ...

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UBA Wins Most Innovative Bank of the Year

Pan African banking and financial services group, United Bank for Africa (UBA) Plc has added yet another award to its growing list of laurels as it emerged Most Innovative Bank of the Year at the Independent Newspapers Awards The award ...

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Nokia to re-launch 3310 later this month

Nokia will re-launch its popular 3310 mobile phone, perhaps the best-loved and most resilient phone in history. It will be revealed at Mobile World Congress later this month, according to leaker Evan Blass who first revealed the details. The phone ...

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Arik suspends flights to London, Johannesburg

Arik Air has suspended its international flight operations to the London and Johannesburg routes. The spokesman of the Asset Management Company of Nigeria, AMCON, Jude Nwauzor, made the announcement in a statement issued on Tuesday in Lagos. The News Agency ...

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After Arik, AMCON takes over OAS Helicopters

The Asset Management Corporation of Nigeria (AMCON) has taken over Odengene Air-Shuttle Services, known more as OAS Helicopters in Lagos following a court order. It was the third aviation firm to be taken over by the bad bank in four ...

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Ambode okays 20 to 67 per cent hike in BRT, LAGBUS fare from March

Commuters using the LAGBUS and Bus Rapid Transit, BRT, buses in Lagos will pay more from March 1, following the Lagos State Government’s approval of upward review in their fares. Thousands of Lagos residents queue up daily to make use ...

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