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COVID-19: CBN slams NESG, says its interventions have saved economy
The Central Bank of Nigeria, (CBN) has taken the Nigerian Economic Summit Group (NESG) to the cleaners over its press release titled Matters of Urgent Attention, which called to question some of the measures taken by the apex bank to support the stability of the country’s financial system and help the economy to recover faster, especially […] More
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in BusinessEdo 2020: Jattu Progressive Union endorses Obaseki, deputy
Ahead of the September 19 gooovernorship election in Edo State, the Jattu Progressive Union (JPU) Uzairue, in Etsako West Local Government Area, has endorsed the second term bid of Governor Godwin Obaseki, candidate of the Peoples Democratic Party (PDP), and his Deputy, Philip Shaibu, promising to rally voters to ensure their victory in the coming […] More
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Civil servants impersonate NYSC members to partake in election duty-APC
…APC has run out ideas-PDP Tony Osauzo, BeninThe APC and the PDP, yesterday, continued in their accusation and counter accusation game, with the APC alleging that Edo State civil servants were impersonating National Youth Service Corps (NYSC) members in Owan West, Owan East and Akoko-Edo Local Government Areas to partake in election duty.According to the party, […] More
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in BusinessOil prices fall on demand fears as U.S. summer driving season ends
Oil prices fell on Tuesday amid concerns over fuel demand as the peak U.S. driving season drew to a close and the U.S. Labour Day long weekend added to worries over rising coronavirus cases in more U.S. states. Coronavirus cases rose in 22 of the 50 U.S. states, a Reuters’ analysis showed, on the holiday […] More
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Clarify GSI and Sandbox policies for MFBs, experts urge CBN
Chinwendu Obienyi There is an urgent need for the Central Bank of Nigeria (CBN) to clarify the Global Standing Instruction (GSI) and Sandbox policies for Nigerian Microfinance Banks (MFBs) even as all financial institutions are getting ready to embrace the guidelines expected to take off from August 1. This was the view of experts during […] More
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Crude Oil: FG reiterates commitment towards fixing national refineries
Says African market needs competition The Federal Government has reiterated that its target to increase crude oil production to the national target of three million barrels per day and reserves of 40 million barrels before 2023 as well as fixing its refineries remains on course. Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, […] More
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Seplat to drill 2 gas wells as cash reserves rise to $343m
Seplat Petroleum Development Company Plc, a leading Nigerian independent energy entity listed on both the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE), has announced its cash reserves increased to about $343 million despite lower revenues, in the six months ended 30 June 2020. The Company’s full-year capex of US$120 million (US$86 million already invested) […] More
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Dangote Cement fulfils promo promises, sends N1m alert to Season 2 winners
Three new millionaires yesterday had their million Naira winnings presented to them by the management of Dangote Cement Plc, in fulfilment of its promise to make one thousand people millionaires, in ts on-going “Bag of Goodies: Spell Dangote and win a Million Naira Consumer Promo, which commenced barely two weeks ago. The winners from Lagos and […] More
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Access Bank unveils Womenpreneur Pitch-A-Ton for women-owned SMEs
As part of its focus on providing financial and business skills to women-owned startups, Access Bank Plc has unveiled the second edition of its Womenpreneur Pitch-a-Ton programme. The Womenpreneur Pitch-a-Ton Africa 2020 Campaign is designed to provide female owned businesses across Africa, an opportunity to access to finance and world-class business trainings as well as mentoring […] More
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Stamp duty: Landlords, agents must remit 6% tenancy, lease agreement –FIRS
To grow the nation’s non-oil revenue base, the Federal Inland Revenue Service (FIRS) has tasked landlords and property agents to ensure they charge 6 per cent Stamp Duty on all tenancy and lease agreements they enter into with renters and remit same promptly to the Service to avoid breaching the Stamp Duty Act. The charge followed […] More
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Four airlines resume operations amid low patronage
•Air fares up 50% as NCAA clears Dana, Aero Chinelo Obogo Four domestic airlines resumed operations at the Murtala Muhammed Airport (2), Lagos and the General Aviation Terminal (GAT) Wednesday, June 8 amidst low passenger patronage. The domestic airlines that operated included Arik Air, Air Peace, Max Air and Ibom Air which flew on Lagos-Abuja routes […] More
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OMSL: Group accuses NPA of high-handedness
The leadership of the Nigeria Ports Authority (NPA) has been cautioned to tread with circumspection in its engagement with the (OMSL), the company providing security at the Secure Anchorage Area (SAA) of the Lagos delineation of the nation’s waters.The New Nigeria Collective (NNC), in a statement by its national chairman, Adeola Adewunmi, made the call […] More
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