BUSINESS

Accountant General: TSA now over N7 trillion

The Federal Government has recorded a whopping over N7 trillion in the Treasury Single Account (TSA) towards the end of March 2017, Accountant General of the Federation (AGF), Mr Ahmed Idris has said. In an interview with the Economic Confidential ...

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Nigerian Mining Society urges FG to concession Ajaokuta steel

The Nigerian Mining and Geosciences Society on Sunday advised the Federal Government to concession the Ajaokuta Steel Company to a competent private operator. Prof. Gbenga Okunlola, the President of the society, gave the advice in an interview with newsmen in ...

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Fidelity Bank grosses N152bn, proposes 14k dividend for 2016 FY

Fidelity Bank Plc (www.FidelityBank.ng) grossed N152.0bn in earnings for the financial year ended December 31, 2016 and is proposing to pay a dividend of 14kobo per share to shareholders. The full year audited results for the top Nigerian lender, released ...

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Conoil, A G Leventis, 9 other firms fail to file audited results – NSE

The Nigerian Stock Exchange (NSE) on Monday said Conoil and 10 other quoted companies have failed to file their 2016 audited results within the stipulated time. The exchange said in a statement in Lagos that the defaulting companies included Capital ...

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Dangote will probably be the world’s largest exporter of rice in fours years – Adesina

Akinwumi Adesina, president of the African Development Bank (AfDB), says Aliko Dangote, may become the largest exporter of rice in the world by 2021. Speaking at the Mo Ibrahim Forum in Morocco over the weekend, Adesina said Africa must focus ...

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Elumelu lauds FG’s Economic Recovery Plan at UBA’s AGM

The Chairman of the United Bank for Africa Plc, Mr. Tony Elumelu, has strongly commended the Federal Government and the Central Bank of Nigeria (CBN) for their efforts in stimulating the Nigerian economy, and bringing to bear a coordinated policy ...

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IMF says Naira is overvalued, hints at devaluation

Speaking at a news briefing in Washington on Wednesday, Gene Leon, the International Monetary Fund (IMF) chief for Nigeria, says the Nigerian naira is overvalued by about 10 percent to 20 percent. “The Nigerian economy has been hit by lower ...

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FEC approves $1.3b loan for development bank

The Federal Executive Council (FEC)has approved a $1.3 billion loan credit facility for the commencement of the Development Bank of Nigeria. The approval came on the heels of a memo submitted by the Finance Minister, Kemi Adeosun seeking council’s ratification ...

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NUPENG, others suspend strike

The National Union of Petroleum and Natural Gas Workers, NUPENG, has suspended its nationwide strike which began on April 2. The suspension followed the intervention of the Group Managing Director of the Nigerian National Petroleum Corporation( NNPC), Dr Maikanti Baru. ...

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Transcorp committed to significantly increasing power generation in Nigeria

…Tony Elumelu states “Transcorp will light up Nigeria”. At the 11th Annual General Meeting of Transnational Corporation of Nigeria Plc (“Transcorp”), the Board of Directors confirmed their confidence in Transcorp’s growth trajectory and affirmed the Company’s commitment to increasing yield and returns to shareholders, while continuing its significant capital investment strategy. Despite the difficult ...

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