Business

Vice President, Professor Yemi Osinbajo, has said that the country would achieve 7 per cent Gross Domestic Product (GDP), with the successful implementation of the Economic Recovery and Growth Plan (ERGP). He noted that the ERGP was entirely different from other economic plans introduced by the previous administration, based on its objectives priorities and targets. The VP stated this in …

Read More »

Chief executives of commercial banks in the country may have initiated moves to stave off the collateral consequences of MTN Nigeria’s, refund of $8.1billion, said to have been illegally repatriated by it in over nine years. Access Bank Chief Executive, Herbert Wigwe, who gave the hint to Reuters, Thursday said although his bank has a minor holding at MTN group …

Read More »

The Pharmacists Council of Nigeria has sealed about 321 premises in Bayelsa for varying noticeable infractions, including sale of medicines without following due process. The News Agency of Nigeria reports that Bayelsa is the 28th state the council is carrying out the monitoring and enforcement in nationwide. The PCN’s Director, Inspection and Monitoring, Mrs Anthonia Aruya, made the disclosure at a news …

Read More »

The Standards Organisation of Nigeria, has warned importers of school uniform materials into Nigeria about some cancer-causing substances found in some school uniform materials made by two China based companies. A statement issued by the Director-General of SON, Mr Osita Aboloma on Friday in Abuja, named the companies producing the materials as Sing Shun Fat School-Clothier Company and Zenith Uniform …

Read More »

The Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta has revealed that over 40 million Nigerians are still deprived of internet access, despite the fast pace of internet adoption in the country. Danbatta, who made the disclosure this week while addressing delegates at this year’s International Telecoms Union (ITU) annual regional capacity building workshop, which was hosted by Nigeria …

Read More »

MTN Nigeria has denied its involvement in the illegal repatriation of dividends worth $8.1bn between 2007 and 2015. The telecoms company through its Public Relations Manager,  Funso Aina,  on Thursday, acknowledged the receipt of a letter from the Central Bank of Nigeria regarding the allegations on August 29, 2018. The company said it only declared and paid dividends with Certificates …

Read More »

Access Bank Plc has recorded a profit after tax of N39.625 billion for the half year ended June 30, 2018 from a profit of N39.459 billion recorded in 2017. The unaudited financial results for the half year (H1) ended showed an increase of 2.6 per cent in gross earnings to N253.024 billion from N246.575 billion in the corresponding period of …

Read More »

The Nigerian Liquefied Natural Gas (NLNG) has embarked on the construction of the $120 million Bonny-Bono road. The road which will connect Bonny to Port Harcourt is slated for completion within 40 months. The company also plans to embark on $6 billion capacity development project for the Train 7, which had potential of creating 12,000 new jobs in the Niger …

Read More »

The United Bank for Africa (UBA) Plc has announced its audited 2018 half year financial results, showing strong growth across key performance metrics as well as a significant contribution from its African subsidiaries. Despite declining yield environment in two core markets – Nigeria and Ghana – the pan Africa financial institution delivered double digit growth in gross earnings, as it …

Read More »

Stanbic IBTC Holdings Plc (a member of Standard Bank Group) has been informed by its banking subsidiary Stanbic IBTC Bank PLC (the “Bank”) that penalties have been imposed on the Bank by the Central Bank of Nigeria (CBN) pursuant to a review of transactions relating to the remittance of foreign exchange on the basis of certain “irregular” capital importation certificates …

Read More »