The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Sen. Stella Oduah-Ogiemwonyi over an unpaid debt of about N20 billion. AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos against Sea Petroleum Oil & […]
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The National Economic Council (NEC) says revenue generating agencies underpaid N526 billion and $21 billion the federation account between 2010 and 2015. This disclosure was made by Ibrahim Dankwambo, governor of Gombe state, when he briefed state house correspondents after the meeting of the council, which was presided over by Vice-President Yemi Osinbajo at the […]
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United Bank for Africa (UBA), a leading pan-African financial institution with operations in 20 African countries has assured the players in the private and public sectors in East Africa’s largest economy that its Kenyan franchise is ready and committed to finance key projects and business transactions capable of galvanising the economic development of the country […]
Continue ReadingThe African Development Bank (AfDB) says it has approved 100 million dollars senior loan to Nigerian firm, Indorama Eleme Fertilizer and Chemicals Limited, to support production of Fertilizer in Nigeria. The Bank disclosed this in a statement, on Thursday adding that it would help the company’s plans to double its fertilizer production from 1.4 million tons […]
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The National Bureau of Statistics, NBS, has released a report on the Consumer Price Index (CPI) for April, 2018. According to this report, inflation increased by 12.48 percent (year-on-year) in April 2018, this is 0.86 percent points less than the rate recorded in March 2018 (13.34) percent and represents the fifteenth consecutive disinflation since January […]
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The National Bureau of Statistics (NBS) says Nigeria’s capital importation in the first quarter stood at 6,303.63 million dollars. The NBS stated this in the Nigerian Capital Importation for First Quarter for 2018 released on Friday in Abuja. The bureau stated that the value of capital imported in the quarter recorded an increase of 594.03 […]
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Price movement on Thursday at the Nigerian Stock Exchange (NSE) indicates that Seplat, Dangote Cement and Forte Oil topped the losers’ chart, the News Agency of Nigeria (NAN) reports. Some highly capitalised stocks also recorded price depreciation on the exchange leading to the decline of market indicators for the fourth day running. Seplat led the […]
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The president of Dangote Group, Aliko Dangote, has been ranked by Forbes as the 66th most powerful person on earth, ahead of Mike Pence, US Vice-President. In the American business magazine’s 75-person list, Dangote clinched the second position in Africa, trailing President Abdel Fattah el-Sisi of Egypt, who was ranked 45th. Both men are the […]
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Warren Buffett has reported a $1.14 billion loss at Buffett’s Berkshire Hathaway Inc. in the first quarter, the Omaha, Nebraska-based company said. That marked the company’s first net loss since 2009. The loss was caused by new accounting-rule changes, which the Oracle of Omaha had predicted would cause nightmares. The rules require Berkshire to report unrealised gains […]
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Pan African Financial institution, United Bank for Africa (UBA) has again disrupted the e-payment space with the introduction of Master Pass ‘Quick Response’ (QR) Bot. The revolutionary solution enables the micro, small and medium enterprises (MSMEs) in Nigeria and across Africa to receive digital payments from their customers through scanning, using their Facebook account. […]
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