About four months after it disengaged about 200 of its workers, Skye Bank Plc has retrenched about 50 members of staff, including those in outsourced and auxiliary functions. Although the number of the affected non-core employees could not be ascertained …
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The Minister of Industry, Trade and Investment, Mr. Okey Enelamah, has reiterated the Federal Government’s commitment to ending the current economic recession through strategic policies aimed at driving partnership between government and the private sector. This, according to him, will …
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The Central Bank of Nigeria on Monday warned Nigerians against patronising what it called ‘wonder banks’, stating that their activities were not regulated by it. The Head, Consumer Protection Department, CBN, Hajiya Kadija Kassim, stated this during a mentoring programme …
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The naira closed flat at 470 against the United States dollar on Monday, the same level it recorded on Friday. The naira had plunged to 470 on Wednesday, down from 455 on Tuesday as fresh dollar shortage hit the official …
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Sterling Bank Plc has described the current operating business environment in Nigeria as challenging. But the bank said it would continue to build on the efficiency, quality and profitability of its core banking business as the latest earnings report released …
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Dangote Cement Plc last week recorded a revenue of N442 billion for the nine months ended September 30, 2016, showing an increase of 21 per cent above the N365 billion in the corresponding period of 2015. However, Profit after …
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Nigeria can generate over $3billion annually in the next two years from perishable farm produce export to Europe and other destinations with good freight system, recommended farm input and packaging. The Managing Director/ CEO of ABX World Nigeria Limited, Captain …
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The Federal Government is partnering financial institutions and other stakeholders in the agricultural sector for the development of the largest agro-industrial hub in West Africa. Investors in the agricultural sector are entering into various forms of partnership with the Federal …
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External debts have cost the nation a total of $1.62bn in interest payment in the last five years, an investigation by our correspondent has shown. Statistics obtained from the Debt Management Office showed on Friday that the country spent a …
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The Presidency says the World Bank’s Doing Business 2017 Report, released on Tuesday is an indication that the government’s reform initiatives are yielding positive results. “The Buhari administration is gratified that the various reform initiatives put in place towards instituting …
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The Federal Government on Thursday said it had so far released N2.5tn out of the N6.6tn budgeted for the 2016 fiscal year. The government also said the proposed external borrowing was for the execution of capital projects. President Muhammadu Buhari …
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The naira tumbled to 470 against the United States dollar on Wednesday, down from 455 on Tuesday as fresh dollar shortage hit the official and parallel foreign exchange markets. The local currency has been relatively stable, hovering around 455 against …
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The Minister of State for Budget and National Planning, Zaynab Ahmed, on Wednesday said the Federal Government had so far released about 50 per cent of the capital expenditure component of this year’s budget. She disclosed this while answering questions …
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GlaxoSmithKline Nigeria has concluded the sale of its two flagship brands, Lucozade and Ribena, to a Japanese beverage firm, Suntory. This was disclosed by Suntory Nigeria at a press briefing in Lagos on Tuesday. The deal between the parent company …
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President Muhammadu Buhari has asked the National Assembly to approve his administration’s external borrowing plan of $29.96bn for the execution of key programmes and infrastructural projects across the country. The sum, if approved, will be spent on projects in this …
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The Federal Government will soon float a Diaspora bond to tap into the resources of Nigerians living abroad as one of the measures to overcome recession, the Senior Special Assistant to the President on Diaspora and Foreign Affairs, Mrs. Abike …
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Representatives of 42 investors from European countries will come into the country next month to consider areas of investment in the various sectors of the Nigerian economy, the Federal Government has said. According to the government, the advance teams of …
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The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff. …
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The Federal Government has appealed to the African Development Bank to fast-track the $1bn loan facility it promised as support for the implementation of Nigeria’s 2016 budget. According to the government, the loan is expected to cover the 35 per …
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The funds realised by the Nigerian federation dipped by N90.27bn for the month of September, statistics made available by the Federation Accounts Allocations Committee after its meeting in Abuja on Thursday showed. According to the statistics, the total amount realised …
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