Business Hilights

Tracking Nigeria's Headline Business News Online

Banking/Investments

NEPC Accuses NIMASA of Withholding N300m Freight Fund

The Executive Director/Chief Executive of Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo has revealed that the Nigerian Maritime Administration and Safety Agency (NIMASA) is withholding 10 percent levies on freights collection to NEPC as stipulated by law. In his…

CBN Gov’s Wife Regains Freedom After 3 Days With Kidnappers

After three days in kidnapper dean, the wife of the Central Bank Governor, Margaret Emefiele, has been released by her abductors. It was not clear if any ransom was paid even though the adoptors had called on the CBN governor…

VANSO Completes Merger With Interswitch, Set for New Growth Phase

Market leading mobile and security focused financial technology provider, Value Added Network Solutions (“Vanso”), has announced the acquisition of 100% of the equity in the company by Interswitch Limited (“Interswitch”), the leading pan-African digital payments and Commerce Company. Vanso is…

Past governments ran economy without recourse to liabilities– Adeosun

More reasons on why the economy plunged into recession have emerged. Speaking in Abeokuta, the Ogun State capital during a meeting with States Finance Commissioners Wednesday, the Minister of Finance, Mrs. Kemi Adeosun revealed that one of the key safety…

More FG officials confuse Nigerians on way out of recession

Beginning from late last year, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele said government will soon sale non-performing national assets to raise fund to rejig the economy. Only recently, the National Economic Council (NEC) advised the federal…

Banking/Investments

CBN yet to reveal banks audit report

Considering high speculation on the would-be content of the ongoing stress test on commercial banks by the Central Bank of Nigeria (CBN), the apex bank has warned some segments of the press over misleading reports purporting to reveal decisions taken…

Merger of Customs, FIRS imminent–Report

If the recommendations of the National Tax Policy Review Committee are anything to go by, indications are rife that the Federal Government will merge the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS). This, according to the Committee,…

We don’t get 60% forex, MAN tells CBN, seeks sale of assets

The Manufacturers Association of Nigeria (MAN) has disclosed that barley two weeks after the Central Bank of Nigeria (CBN) said foreign exchange allocation to the real sector would be increased to 60 per cent, banking are not complying with the…

Banking/Investments

Budget Padding: Twist as Reps Suspend Jibrin For 180 Days

The House of Representatives on Wednesday suspended the immediate former Chairman, Committee on Appropriation, Abdulmumin Jibrin, for 180 legislative days following the adoption of the recommendations of the Nicholas Ossai-led Ethics and Privileges Committee. The Committee laid the report earlier…

Developing Africa Our Collective Responsibility—Elumelu

Chairman of United Bank for Africa (UBA) and Founder of The Tony Elumelu Foundation, Mr. Tony Elumelu, has urged governments across Africa to unite on the implementation of policies designed for developments. In his remarks at the World Pension Summit…