Business

Pan-African financial institution, United Bank for Africa (UBA) Plc has announced an immediate upward review of the monthly international spend limit on its debit and prepaid Naira cards from $100 to $2,000. The upward review, which represents a marked increase by 1,900 per cent, allows customers to withdraw up to $2,000 per month as against $100 which was obtainable previously. …

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Sterling Bank Plc has said that an armed mobile policeman fleeing from an irate mob after shooting a tanker driver disrupted banking operations at the Sterling Bank branch on Creek Road this morning. The bank said that the mobile policeman ran into the premises of the bank to escape being lynched. According to a statement signed by the Chief Marketing …

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Journalists have been invited to apply for the coverage of an entrepreneurship conference. The all expenses travel fellowship is available is available for working journalists who would participate skillfully. Facilitated by the Tony Elumelu Foundation, a nonprofit organization working to promote entrepreneurship in Africa, the organization shall host the Elumelu Foundation Entrepreneurship Forum from October 13 to 15 in Lagos, …

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Business activities were on Tuesday paralysed at the headquarters of the Corporate Affairs Commission following an industrial action by members of staff of the commission. The industrial action led to the closure of the premises of the commission in Abuja thus preventing members of staff as well as well as the general public from conducting any time of business transaction. …

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DAAR Communications Plc, has declared an operating loss of N2.139 billion in 2016, up from N1.515 billion in 2015. The Chairman of DAAR Group, Chief Raymond Dokpesi (Jr.) told shareholders at the weekend in Abuja at a combined 2015/2016 annual general meeting that the economic recession in the country pushed the company’s operating loss from N1.515 billion in 2015 to …

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In continuation of its foreign exchange (Forex) supply drive, Central Bank of Nigeria (CBN), on Monday, intervened in the inter-bank market to the tune of $195million. Figures released by the Bank show that it offered the total sum of $100million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The invisibles …

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Adeife Adebiyi is a 2012 Mass Communication graduate of the University of Lagos (UNILAG). The writer and spa therapist has since capitalised on her interest in arts which she aspires to grow into a big brand. Today she is into embellishment and has produced beautiful frames and unique designs and she has used the social media in marketing her products. …

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Despite regulatory allegation confronting Oando Plc, trading on the floor of Nigerian Stock Exchange (NSE) on Monday closed on a positive note, as key market indicators went up as witnessed last week. The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization increased by 0.12 percent, while the Year-to-Date return stood at 23.91 percent. The All Share …

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Nigeria lost over N51.28bn worth of oil to activities of petroleum pipeline vandals in 2015, the Nigerian National Petroleum Corporation (NNPC) has said. Oil, the mainstay of Africa’s largest economy has been the bone of contention between the government and the Niger Delta militants. The contention is responsible for the loss of national revenue, which has hindered the production of 2.2 million …

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The Nigerian Stock Exchange (NSE) has officially launched a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution. According to a joint statement by Olumide Orojimi Head, Corporate Communications at the NSE and Ryan Wells of Nasdaq, which was made available to Financial Edge, explained that the technology will, amongst other things, enable NSE to proactively monitor market …

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