BUSINESS

Customs to adopt electronic auction of seized goods

Nigeria Customs Service (NCS) has decided to adopt electronic platform to conduct the auction of seized goods to ensure transparency. Mr Joseph Attah, NCS spokesman, told the News Agency of Nigeria (NAN) on Friday in Abuja that the platform was ...

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FINE: MTN pays N30b to Nigerian government

MTN has made a payment of N30 billion  ($98 million) to the Nigerian government in part settlement of a N330 billion  fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. ...

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CBN directs BDC to exchange $1 for N362 at maximum

The Central Bank of Nigeria (CBN), on Tuesday slashed the rate at which it sells forex to Bureaux De Change (BDCs) in Nigeria to N360 and directed the BDCs to sell to end users at not more than N362 to ...

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CBN sets fresh rate for dollars sales to customers

The Central bank of Nigeria, CBN, on Monday directed all deposit money banks to immediately commence the sale of foreign exchange to their customers at not more than N360 to the dollar. The spokesperson of the CBN, Isaac Okarafor, said ...

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UBA Grows Profit Before Tax By 32%, Declares Final Dividend per Share of 55kobo

United Bank for Africa (UBA) Plc, the pan-African financial services group, operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits, an attestation to its resilience, enhanced productivity and ...

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Senate investigates alleged N4 trillion revenue leakage in Customs

The Senate Committee on Customs, Excise and Tariff, has commenced investigation into alleged N4 trillion revenue leakage in the Nigeria Customs Service between 2006 and 2016. The Chairman of the committee, Hope Uzodinma, made this known in an interview with ...

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NCAA fines airline N9.5 million for violating Nigerian airspace

The Nigerian Civil Aviation Authority, NCAA, has imposed a fine of N9.5 million on a non-schedule airline for operating in the country without flight clearance. The NCAA spokesman, Sam Adurogboye, said in a statement on Sunday that the Letter of ...

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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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