Business

Tayo Olanipekun Head, Quality Assurance/Quality Control, Dangote Oil Refinery Company Limited, Rama Rao Putta,has said the Dangote Oil Refinery will save Nigeria about $26bn every year. Putta said this when the President of the Lagos Chamber of Commerce and Industry (LCCI), Babatunde Paul Ruwase, led members of the Chamber on a tour of Dangote Jetty, Refinery and Fertilizer plants recently …

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The Federal High Court, Lagos division has certified judgment delivered by the High Court of Justice Queen’s Bench Division and upheld by the Supreme Court of the United Kingdom, directing Shebah Exploration & Production Company Ltd, Allenne Ltd and Dr. Ambrosie Bryant Chukwueloka Orjiako (defendants) to pay African Export-Import Bank, Diamond Bank Plc and Skye Bank Plc (Claimants) the sum …

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Photo Caption: From Left: Director General, Ghana Securities and Exchange Commission Rev Daniel Tetteh, Director General Nigeria SEC Ms Mary Uduk, Commissioner, Industry and Private Sector Promotion, ECOWAS Mr Mamadou Traore and Secretary General CREPMF Mr Mony Soumahoro during a Meeting of Ecowas and West African Securities Regulatory Authorities (WASRA) in Abuja yesterday

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Nigeria’s foreign exchange reserves have declined by $2.15 billion in the last 30 days, as the Central Bank of Nigeria (CBN) position itself in defence of the naira. Since the United States Federal Reserves raised interest rates on September 26, 2018, the Nigerian reserves have dropped by $1,541,891,539, as investors continue voting their monies out of the Nigerian economy. The …

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The Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate has announced new appointments to its board and executive management. A statement from the corporation disclosed that Valentine Ozigbo has been appointed the President/CEO of Transcorp. His appointment becomes effective from January 1, 2019. He will succeed Mr. Adim Jibunoh, who is retiring on December 31, 2018. Ozigbo, …

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BudgIT has expressed dismay at Nigeria’s position for the second time in commitment towards reducing inequality in the country despite persistent advocacy for the Federal Government to invest more in sectors that improve on human development capacity of its people and bridge the gap between the haves and the have-nots. Nigeria has the unenviable distinction of being at the bottom …

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FCMB Group Plc on Wednesday informed the investing public that due to the commencement of the interim audit of the company’s commercial banking subsidiary, First City Monument Bank Limited for the period ended September 30, 2018, the group third quarter result which due date is October 31, 2018, will not be ready. This was contained in a statement which was …

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Mary Uduk, acting director general of the Securities and Exchange Commission (SEC), says the recent outflows experienced in the Nigerian capital market will be remedied when the 2019 general election is concluded. In a session with journalists at the just concluded 2018 annual meetings of the World Bank Group and International Monetary Fund, Uduk who was appointed by Kemi Adeosun, …

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In bid to recover a debt of N8,856,570,029.81 from Lister Flour Mills Nigeria limited a company promoted and predominantly owned by a deceased Ibadan based businessman, Alhaji Arisekola Alao, who died on 18th of June 2014,  First bank of Nigeria limited has refiled a suit against two directors of the company Mrs. Khadijah Alao -Straub, Mr Ismail Alao and a …

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Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP), says 40 percent of his cabinet will be made up of women and youths. The former vice-president said his policy document for Nigeria, if he wins the 2019 election, is ready. He added that Nigeria became the world headquarter for poverty under incumbent President Muhammadu Buhari. “Nigeria under Buhari …

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