Home Business

Business

Femi Otedola takes over First Bank as largest shareholder with N30bn

He wasted no time in taking advantage of the leadership crisis that rocked First Bank not too long ago that the Central Bank of Nigeria sacking both the chairman of the bank, Ibukun Awosika and Obafemi Otudeko, the chairman of FBN Holdings.

War in Nigeria’s advertising industry as associations split over practice guidelines

It portrays a clear indication of discriminatory standards where the AISOP document in section 5 sub section b (Discounts and Commissions) states that:“No party will unilaterally dictate or impose rates on another party except as may be mutually agreed by upon by the parties.

Bloomberg: Mark Zuckerberg’s net worth drops drastically amidst Facebook outage

Reports of issues accessing Facebook — as well as Facebook-owned platforms Messenger, Instagram, and WhatsApp — arose around 11:45 a.m. ET on Monday, according to user reports on Downdetector. Facebook said in a tweet that it is currently "working to get things back to normal as quickly as possible."

Godwin Emefiele’s lawless attack on AbokiFX: fighting shadows for the Naira’s sake

The attack on abokiFX and its owner, no matter how stubbornly sustained, will not save the naira from its embarrassingly free fall and, I predict that many other platforms will spring up in place of, or in solidarity with abokifx. Will the CBN attack all? Anyway, the average Nigerian does not need to visit an online platform to know that the naira is fast losing value.

Fuel scarcity: Owerri residents laments as scarcity hits hard

Recall that filling Stations operating in Owerri, had earlier shut down their businesses to protest the refusal of payment of compensation to one of their members whose filling station was damaged by former Governor Rochas Okorocha’s administration.

Approved Buhari farm estates, a blueprint of Senator Oriolowo ~ NAPMAIDEs Chairman

Recall that few months ago, Distinguished Senator Oriolowo setup farm settlement in the three Federal Constituencies that makes up Osun West Senatorial District where the trainees will be breeding their cattles, engage in cocoa plantation and planting of other arable crops.

NCC, NESG mull collaboration to boost telecoms impact on Nigeria’s economy

in 20 years of telecoms liberalisation, the Commission has been contributing significantly to the country’s Gross Domestic Product (GDP).

CBN halts forex sales to Bureau De Change operators

The Central Bank will henceforth discontinue the sale of forex to Bureau de Change operators

Why NNPC is borrowing to acquire 20% equity in Dangote Refinery – Mele Kyari

’We know that this business is viable, it will work and it will return dividends. It has a cash-flow that is sustainable because refinery business, in the short term, will continue to be sustainable.

Nigeria losing $30bn annually from revenue leakages — Reps

“Some expected imports that were funded by foreign equipment loans and other direct allocations of foreign exchange for foreign exchange valid transactions were neither translated to imports nor their import duties paid to the Nigerian Customs Service.

CBN to sell N722bn treasury bills in Q3’21

TBs are short term debt instruments used by CBN to borrow money from the public on behalf of the federal government. The apex bank also uses TBs to control money supply in the economy.

Food Production: Osun to begin allocation of land to farmers

On this first phase, we are looking mainly for cocoa and cassava farmers to populate the entire 1000 hectares and the priority will be given to people from Ife.

Most Read

Emefiele must quit, INEC materials are kept in CBN gov’s custody – Lawyer

“According to Section 9 of the CBN Act, 2007, the apex bank governor must not venture into any other vocation while in office and must resign in writing to the President if he nursed such intention. There are more than enough reasons Emefiele must go now for the credibility of the bye-elections, the Ekiti and Osun governorship elections as well as the 2023 elections.”

Legal tussle as APC orders aspirants to sign ‘WITHDRAWAL LETTER’ along with nomination forms

Explaining why the ruling party inserted a withdrawal sheet for aspirants that procured nomination and expression of interest forms, APC’s National Publicity Secretary, Mr Felix Morka, in a chat with newsmen argued that the measure was in tandem with the party’s constitution and the Electoral Amendment Act 2022.

NDLEA uncovers N22Billion worth of Tramadol imported by Ukatu

Ukatu through his Mallinson Group of companies imported into the country two-conatiner loads of five different brands of Tramadol in October 2019 through the Apapa ports in Lagos. All the evidences so far gathered show that the imported Tramadol brands were far above the threshold permitted to be imported into Nigeria.

Why EFCC must investigate all public officers that procured APC presidential form with 100M

It is on this note that I call on the EFCC and all other concerned government agencies in Nigeria to do the needful and investigate the Ministers and others who subsequently purchase the APC Presidential nomination and interest form for ₦100 million because it raises a clear suspicion as to the sources of their wealth especially considering the office being aspired to pays less salary cumulatively in a single tenure than the actual cost of declaration. Failure of the EFCC to investigate the source of their respective N100M will set a dangerous precedent and only send a message to the world that the agency’s is weak and has compromised on its primary mandate. The agency must fine-comb through the candidacy and campaign of all of the presidential aspirants notably those in the APC who have not batted an eyelid in paying the ransom called the nomination fee of their party.