Business
OLX Closes Shop In Nigeria
There are indications that OLX, an online marketplace owned by Naspers, has shut down its offices in Nigeria, a move that will affect over 100 of its employees. It was gathered that the workers were […]
Business
Business
“Poverty Is Unacceptably High; Nearly 80 Per Cent of Nigeria’s 190 Million People Live On Less Than $2 A Day.”
About 152 million Nigerians live on less than $2 a day, representing about 80 per cent of the country’s estimated 190 million population, the African Development Bank has said. According to the AfDB, which stated […]
Banking
UK Bank Bans Bitcoin Purchases Via Credit Card By AFP
Lloyds Banking Group on Monday joined major US banks in banning purchases of bitcoin and other cryptocurrencies via credit card amid debt and security concerns. An LBG spokesman said the ban was across its Lloyd […]
Banking
Credit Cards From Nigeria ‘To Be Blocked Abroad’ As Egmont Group Mulls Expelling NFIU
Nigerians may no longer be able to carry out international transactions as Egmont Group is considering expelling the Nigerian Financial Intelligence Unit (NFIU) because of governance issues. A major consequence of the expulsion will be […]
Business
‘We’re Eager To Come Home And Invest’ – Nigerians In U.S.
A group of accomplished Nigerian professionals in the U.S. have expressed their eagerness to come home and invest in the Nigerian economy to fast–track the development of the country. Some of the professionals who spoke […]
Business
Bureaux De change And The Economy | Guardian NG
The Association of Bureaux de change (BDCs) Operators of Nigeria (ABUCON) called its 3,500 CBN-licensed members to an emergency meeting the other day and complained about low transaction margin as it revealed that BDCs buy […]
Business
‘Nigeria, Foreign Countries Now Share Data On Bank Accounts, Property of Nigerians’ By Mathias Okw
THE Nigeria government and some foreign countries, including the United Kingdom (UK), have commenced the Automatic Exchange of Tax Information (AETI), particularly on overseas assets owned by Nigerians. Minister of Finance, Kemi Adeosun, said this […]
Business
Creating Wealth After Oil, By Rafiq Raji
With most oil producers requiring at least $40 oil to balance their budgets, such an eventuality would cause them a lot of inconvenience indeed. So what should an oil producer like Nigeria do? Should it […]
Business
Edward Adamu: Profile of Newly-Nominated CBN Deputy Governor
It is no longer news that President Muhammadu Buhari has nominated Edward Adamu as the Deputy Governor of the Central Bank of Nigeria, CBN. Adamu, who is 57 years, hails from Kaltungo Local Government Area […]
Business
Nigerian Senate To Clampdown On Bit-coin, Ponzi Scheme Operators | DailyPost
The Senate of the federal republic of Nigeria has expressed great concern over the widespread usage of Bit-coin, a form of Crypto-currency and other ponzi schemes across the country. This was consequent upon a motion […]
Business
How Globacom Boss’ Son Paddy Adenuga Nearly Acquired Chevron Netherlands | PMNews
This is the story of Paddy Adenuga, a young Nigerian and son of Dr Mike Adenuga, Globacom boss, on how at the age of 29, he tried to acquire one of the biggest oil companies […]
Business
Is CBN Defending The Naira Or Dollar? By Henry Boyo
“As I speak to you, our external reserves stand above $31bn and that provides us with enough firepower to be able to defend the naira (N305=$1)” – CBN Governor, Godwin Emefiele, April 25, 2017 However, […]
Business
Investors Oversubscribe Ist 2018 FGN Bond
Investors in the capital market have continued to show strong appetite for the federal government Bond as they oversubscribed the first auction conducted by the Debt Management Office (DMO) in the year. DMO had offered […]
Business
Shoprite Operator in Nigeria Ordered To Pay $10m For Breach of Contract
The Lagos State High Court in Ikeja has ordered Shoprite Checkers Limited, operator of Shoprite outlets in Nigeria, to pay A.I.C. Limited $10m for breach of contract. The court, in a judgment by Justice Lateef […]
Business
World’s Richest 1% earn 82% of Wealth Generated In 2017 – Oxfam
Eighty-two per cent of the wealth generated last year went to the richest one per cent of the global population, while the 3.7 billion people who make up the poorest half of the world saw […]
Business
Electricity Consumers To Pay Triple Charge By Prince Okafor
Despite the epileptic power situation in the country, the Managing Director, Nigerian Electricity Management Service Agency, NEMSA, Mr. Peter Ewesor, has said consumers have to triple payment due to increase in power supply. He also […]
Business
Samsung: Why We Can’t Establish A Plant In Nigeria
Samsung Electronics says one of the reasons for not establishing a manufacturing plant in Nigeria is because its market share in the country is not big enough. Sung Yoon, chief executive officer of Samsung Electronics, […]
Business
Seven Resolutions For The 2018 Entrepreneur
It’s a new year and a great opportunity to start afresh with new ideas, new rules and new principles. While a lot of individuals would be making new-year resolutions to improve their health, relationships and […]
Business
Punch: Investor Warns Buyers Off 9mobile
Spectrum Wireless Communication has issued a buyers beware notice on the sale of 9mobile. The solicitors to the firm, J. A. Achimugu and Co. and Dr. Reuben Atabo and Co., said by virtue of the […]
Business
Power Distributors Owe Market Operator N165bn | Punch
The total debt electricity distribution companies owe operator of the Nigerian electricity market, otherwise known as market operator, has risen to N165.21bn. Latest data obtained from the MO, an arm of the Transmission Company of […]