Business

‎From Left:  General Secretary, National Union of Banks, Insurance and Financial Institutions. Employees (NUBIFIE), Comrade Muhammed Sheikh; National President, United Labour Congress (ULC), Joe Ajaero; National President, NUBIFIE, Comrade (Dr.) Danjuma Musa and former General Secretary, NUBIFIE, Comrade Elijah Ola, during the National Delegates Conference of NUBIFIE  with theme: ‘Emergence of new thinking and consolidation of peace’ in Lagos…on Friday. …

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Nestle has bought control of the California based specialty coffee business Blue Bottle Coffee. The Swiss food and drink multi-national acquired a controlling stake for a reported price of $500m (£370m) . With its Nescafe instant coffee and Nespresso brands, Nestle ranks as the world’s biggest coffee company. Blue Bottle takes it into the high end of the market, operating …

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FMDQ OTC Securities Exchange has welcomed the commercial paper (CP) programme registration of Wema Bank PLC – the Wema Bank ₦50.00 billion CP Programme, to its platform. This CP Programme registration strategically positions Wema Bank PLC to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, through CP issues, within …

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The Nigerian Institute of Public Relations (NIPR) has proposed an enduring partnership with the Lagos Chambers of Commerce and Industry (LCCI) in the area of training and manpower development. The President and Chairman of Council of NIPR, Dr. Rotimi Oladele said the partnership is not limited to training alone but that the Institute will organize certification courses leveraging on its …

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Football fans know a lot about football and Fanz Championship is the perfect opportunity to translate that knowledge into cash in a competitive and entertaining TV game show. And so, CEO, Abelinis Ltd, Abiodun Oshinibosi, recently unveiled the fourth season of this new, exciting and totally locally developed football format which has multiple value points including giving football lovers a …

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STANBIC IBTC Holdings Plc, a member of Standard Bank Group, has announced its audited financial statements for the year ended 31 December 2016, clearing a backlog of financial reports occasioned by restrictions imposed by the Financial Reporting Council of Nigeria (FRC). The 2015 audited financial statements had been issued on Tuesday March 7, 2017 following the resolution of the dispute …

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Francis Usani, head of the Nigeria Financial Intelligence Unit (NFIU), says Nigeria stands the risk of being expelled from the Egmont Group. Usani said this at a media parley organised by the Economic and Financial Crimes Commission (EFCC) in Abuja on Wednesday.‎ ‎ ‎In July, the group suspended Nigeria as a result of the interference of the EFCC in the …

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JPMorgan Chase chairman and CEO Jamie Dimon spoke out against cryptocurrency Bitcoin on Tuesday. This is coming on the backdrop of some Nigerian investors investing their hard earn money in the scheme, with a view to huge Return on Investment. He said the currency ‘is a fraud’ that will eventually ‘blow up’ ‘Honestly, I am just shocked that anyone can’t …

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Prices of cassava stems have nosedived to N400 per bundle after touching a high of N1200 as demand eases in Nigeria. Last year and earlier in 2017, prices of cassava roots and its derivatives such as gari climbed to an all-time high as demand outstripped supply. Researchers are still expecting data on demand and supply from the National Bureau of …

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Bukola Ogunyemi On Tuesday, the National Bureau of Statistics gave a lot of Nigerians the news they desperately wished to hear – Nigeria is out of recession. After five consecutive quarters of negative GDP growth that started in Q1 2016, Nigeria’s economy grew by 0.55% in Q2 2017. Predictably, data once again became the hero and villain in a long-running social …

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