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Business

CBN moves to ban importation of maize

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The Central Bank of Nigeria (CBN) has directed all authorised dealers to discontinue the processing of Form M for the importation of maize with immediate effect. The CBN made this known in a circular signed by Dr. Ozoemena Nnaji, the Di...Read more

How to become a successful Bitcoin trader

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A BTC trader is simply an individual who seeks gains from differential changes in the market price of BTCs. The main objective the BTC trader has in mind is buying prices at low and selling when the flagship currency ...Read more

Nigeria police rescue American woman, held for over a year, from internet fraudster

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The Nigeria police have arrested a suspected internet fraudster, Chukwuebuka Obiaku, who allegedly lured an American woman to Nigeria with marriage and extorted her of $48,000. Police spokesperson, Frank Mba, said the woman was rescued in a Lagos...Read more

CURRENCIESNaira falls to another 3-year low at black market as forex liquidity still remains scarce

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The exchange rate at the parallel market fell to another new 3-year low on Friday closing at N465/$1. However, on the officially recognized NAFEX Market, the Forex turnover was somewhat stable with only a slight drop of 0.08% on Frid...Read more

ENTERTAINMENTHow to get creative sector loan from the CBN, Bankers Committee

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The Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee, has outlined how to get the creative sector loans. Both parties developed a Creative Industry Financing Initiative (CIFI) as part of efforts to boost job creat...Read more

‘How we prevented sea importation of virus’

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The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, said the agency, through proactive measures, prevented the importation of coronavirus into the country through sea trade.Jamoh, who spoke at the w...Read more

FCMB Pensions to acquire 96% of Aiico Pensions

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FCMB Group has notified the Nigerian Stock Exchange(NSE) that its pensions arm, FCMB Pensions Limited, has entered into an agreement to acquire 96% of Aiico Pensions Limited.This is part of a deliberate strategy to grow the Group’s investmen...Read more

Celebrating Fashola at 57: The ‘BRF Way’

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BRF is a genius at breaking it down, laying it all out. When he goes on project tours, he stops to ask the artisans and food vendors on the site about how the project has touched or is touching their lives.And that’s what government communic...Read more

Access Bank pays three-month Stamp Duty Charge for customers

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Access Bank Plc on Sunday concluded payment for a three-month Stamp Duty Charge for all its customers debited from February to April this year.The affected customers had asked the bank to refund the charges to them, which the lender obliged.In a s...Read more

FirstBank upgrades mobile banking App

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FirstBank First Bank of Nigeria Limited has announced that its mobile banking application, FirstMobile has been upgraded with new and improved features to promote safe and convenient Mobile Banking experience for customers.The Bank’s award-w...Read more

NCAA bans private jets for charter

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Nigeria Civil Aviation Authority (NCAA) has banned the use of private aircraft for charter flight services.Effective yesterday, it said it will ground private aircraft which engage in ‘hire and reward services’ which in aviation par la...Read more

Oil prices rise on improving economic data

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Oil prices edged higher on Monday, after bullish data from Asia and Europe, but sharp spikes in new coronavirus infections around the world tempered gains.Brent crude rose 30 cents, or 0.7 per cent, to $41.32 a barrel while US crude, West Texas In...Read more

NOSDRA to govt: don’t scrap agency

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The Director-General, National Oil Spill Detective and Response Agency (NOSDRA), Idris Musa, has said the scrapping of the agency will be a great mistake for the government and will take the country back to the disaster it was if implemented.He sp...Read more

Air Peace operates maiden flight to London

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Following its designation as Nigeria’s flag carrier, Air Peace at the weekend operated its maiden flight on the Lagos/London route. It was to demonstrate its capacity for long haul operations.Spokesman of the carrier, Mr Stanley Olisa commen...Read more

Nigerian Breweries pays N16.1b dividend

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Shareholders of Nigerian Breweries (NB) Plc have approved a total dividend of N16.1billion for the 2019 business year, representing a dividend per share of N2.01.   At the company’s 74th Annual General Meeting (AGM) held by virtual at...Read more

Access Bank excites SMEs with digital cashflow lending

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As part of its effort to provide access to finance for small and medium enterprises (SMEs) to grow and expand their businesses, Access Bank Plc has launched a digital lending portal, “Cashflow Loans by Access”, which is a solution for ...Read more

Shareholders approve Cadbury Nigeria’s N912m dividend

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Shareholders of Cadbury Nigeria Plc yesterday approved the payment of N912 million as cash dividends for the 2019 business year amid commendations for continuing improvement in the performance of the food and beverages company. Shareholders will r...Read more

Berger Paints optimistic as profit grows by 40%

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Berger Paints Nigeria Plc remains optimistic that it will sustain its growth trajectory in spite of the COVID-19 pandemic and other operating challenges as the paints-manufacturing company grew net profit by 40 per cent in 2019.   At the an...Read more

Stanbic IBTC Holdings urges employees on digitisation

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Stanbic IBTC Holdings PLC has urged employees to embrace digitisation and build career resilience through diversity and up-skilling to be outstanding in the workplace.   Its Country Head, Human Capital, Olufunke Amobi, gave the advice ...Read more

Private sector coalition against COVID-19 gains more support

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The Central Bank of Nigeria (CBN)-led private sector coalition against COVID-19 (CA-COVID) has gained the support of stakeholders across the economy.   CACOVID has also  taken a step further in its COVID-19 sensitisation and education ...Read more

Ecobank boosts financial inclusion with Xpress Points

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Ecobank Nigeria’s agency banking initiative, also known as Xpress Points, is building entrepreneurs and pushing financial inclusion to the  unbanked and under-banked.   The lender says its Xpress Points enable its agents to carry...Read more

LAPO MfB provides N489m insurance cover for clients

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LAPO Microfinance Bank  provided insurance cover  worth N489million  its  clients last year, the company has said.   For 2014-2019, the firm paid N1.88 billion claims.   “We have helped our clients achieve t...Read more

Preparing youths for the future

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High quality vocational education and training enjoy a high degree of esteem worldwide.   In Lagos State, there are hundreds of providers of initial and continuing vocational training, offering state-of-the-art technologies and high-class c...Read more

Silence as Customs seals ‘illegal’ bonded terminal

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The continued silence over the sealing of an empty container stacking space at Kirikiri Phase ll area of Lagos, allegedly converted to a “bonded terminal” is generating concerns among stakeholders in the maritime sector.   The i...Read more

‘Why low cost houses will remain a dream’

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The Managing Director/Chief Executive Officer, Aerofield Homes Limited, Armstrong Akintunde, has said efforts by governments to provide low cost houses for the people will remain a dream if the prices of building materials are not controlled and m...Read more

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