Business Hilights

Tracking Nigeria's Headline Business News Online

Banking/Investments

Mansard introduces Money Market Fund

AXA Mansard Investment Limited has launched two new mutual funds, the AXA Mansard Money Market Fund and the AXA Mansard Equity Income Fund. The company said it introduced the new products as part of its commitment to delivering superior value…

Nigeria’s recession pulling down region’s GDP, says ECOWAS

ECOWAS Commission President, Mr. Marcel de Souza, has said the recession being experienced in Nigeria has a negative impact on the sub-region’s overall economic performance. De Souza said this while presenting the Community Status Report at the ongoing Second Ordinary…

FG pays ECOWAS $54m 2015 community levy

The federal Government has fulfilled its obligation to the Economic Community of West African States (ECOWAS) by paying the 2015 Community Levy of $54m for the implementation of programmes and projects in the sub-region. The group’s Commissioner for Finance, Mr….

UK Roadshow To Promote $1Bn Eurobond FG

In a desperate to mop up liquidity for the economy from the international community, Nigeria’s Debt Management Office (DMO) has launched a one-week roadshow to Britain and the United States. The targets amongst others are to promote a planned $1…

Another $40M Found In Patience Jonathan’s Skye Bank Accounts

In keeping with corporate governance and disclosure standards, officials of Skye Bank Plc have informed the Economic and Financial Crimes Commission (EFCC) of newly discovered accounts owned by Mrs. Patience Jonathan, wife of former President Goodluck Jonathan. The accounts are…

IMF says global economic recovery ‘weak, precarious’

The global economic recovery remains “weak and precarious”, the International Monetary Fund has warned. In its latest World Economic Outlook, the IMF predicts “subpar” growth this year of 3.1%, rising slightly in 2017.

Banking/Investments

FCMB To Visit Customers As It begins 2016 Customer Week

Leading indigenous commercial bank, First City Monument Bank (FCMB) Limited has off exciting and rewarding initiatives to further enhance customer experience during this year’s international customer service week. The programme started yesterday, and is expected to end on October 7…

FG releases N2.95tn out of ear marked N6.06tn in six months—CBN

Figures from the Central Bank of Nigeria (CBN) Monday, have suggested that out of the N6.06tn approved for the 2016 budget, about N2.95tn has so far been released by the Federal Government for capital and recurrent expenditures. The bank said…

114 Roads’ll Create Wealth, Boost Interconnectivity In Lagos—Johnson

As the Lagos State Governor, Mr. Akinwunmi Ambode continues to commission and hand over delivered roads to communities, the State Commissioner for Works and Infrastructure, Engineer Ganiyu Johnson has said that the 114 roads in the state will create wealth…

Banks Hijacking Nigerian Ships Over N5b Non-performing Loans

Commercial banks in Nigeria out of endless rescheduling of loan repayments by local ship owners may have started impounding vessels of defiant debtors. Recent reports put the value of the indebtedness at about N5billion. Discoveries by research indicate that banks…