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Banking/Investments

Court orders interim forfeiture of $43m, £27,800, N23m found in Ikoyi House to FG

EFCC Ikoyi home

In what can be described as galloping rise in star performance on the side of the Economic and Financial Crimes Commission (EFCC) since the Acting Chairman, Mr. Ibrahim Magu failed integrity test at the Nigerian Senate, the agency, yesterday secured a Federal High Court Order in Lagos for the temporary forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 it ...

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Getting best identification model, most frustrating challenge to N5,000 monthly stipend—VP

Osinbajo buhari

Fresh indication that the federal government may not have well planned and programmed the highly publicized N5,000 per person monthly welfare stipend for the unemployed has emerged after all. Thursday, the Vice President, Prof Yemi Osinbajo let the cat out of the bag, saying “government was facing some challenges in implementing the N5,000 per person monthly welfare stipend for the ...

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Divergent timelines on possible end of recession push Nigerians to lose hope

economy issues

Since the declaration of the Nigerian economy in recession late last year, government officials and other gladiators have continued to give speculative timeline for the end of the economic scourge. Even some even said that recession will end before the end of the first quarter or before the end of the first month in second quarter. However, a session of ...

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Mostly Nigerians, other African migrants now on sale in Libyan ‘slave markets’—UN agency

A trend capable of returning African continent back to the Stone Age is playing out in Libya at a place called slave market where African migrants wishing to cross Mediterranean Sea for greener pastures in Europe are sold into slavery. Already, the International Organization for Migration (IOM) has raised alarm on Wednesday from observations made by its staff in Niger ...

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Aniebonam, advises NPA boss, Usman to use her discretion to review payments in dollars

The founder of the National Association of Government Approved Freight Forwarders (NAGAFF), Dr. Boniface Aniebonam has called on the managing director of Nigerian Ports Authority (NPA), Hadiza Usman, to use her discretion as provided by the Standard Operating Procedures of the agency return calm to the raging difficulties faced by terminal operators in making payments in dollars. Industry and shipping ...

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GTB, Zenith Bank, others await second tranche of Etisalat’s negotiated loan payment

Etisalat nigeria

Indications have emerged, showing that the dusts raised by $1.2 billion, about N30bn loan jointly pulled by a consortium of banks in 2013 for Etisalat are yet to settle. Earlier last month, banks involved in the deal opened up to the media threatening to take over the telecoms group on grounds of breaches to the loan repayment deal, but the ...

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How Access Bank boss beat others to emerge Most Reputable Nigerian Bank CEO

Access Wigwe

Rating Agency, Avance Media, and the Institute of Leadership and Management has ruled that Herbert Wigwe, the chief executive officer of Access Bank Plc, is the Most Reputable Nigerian Bank CEO in the latest ranking their Reputation Poll. Avance Media is Africa’s Leading Media and Public Relations Agency focused on creating varied contents for the Global Market. The group said ...

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Zenith Bank Plc is stronger than them all, rock solid— Fitch Report

Zenith bank HQ

Whereas three banks (names with held) were said to vulnerable by the latest result of the stress test conducted by the Central Bank of Nigeria (CBN), the report however, singled out Zenith bank and declared it rock solid even in the face of recession. According to the report, Zenith Bank is leading other big lenders in standing tall in all ...

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Nigerian stock market to be as big as Johannesburg Exchange in five years—Dangote

Dangote group

President of Dangote Group, Alhaji Aliko Dangote, has revealed why his confidence in the Nigerian economy and the Stock Exchange in particular has remained unshaken. Giving reasons for his plans to bring the emerging Dangote Oil Refining Company Limited to the Nigerian Stock Exchange (NSE) on delivery, he said he has firm believe that in less than five years, the ...

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NPA boss, Usman presents N233.8b 2017 budget of infrastructure renewal, revenue hauls

Hadiza Usman, NPA

The managing director of Nigerian Ports Authority (NPA), Hadiza Usman has presented a budget of N233.8 billion to the National Assembly for the 2017 fiscal year. Presenting the estimates before the Chairman of House Committee on Ports Harbours and Waterways, Dr. Patrick Asadu, she assured to use the budget to turn things around at the ports and maritime industry. Details ...

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