Saturday, January 19, 2019
Business

Business

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The governorship candidate of the All Progressives Congress, APC, in Rivers State, Tonye Cole, has warned the state Governor, Nyesom Wike, against taking political actions that might have negative effect on the economy of the state ahead of the...
Majority shareholder in Forte Oil, Mr. Femi Otedola has concluded arrangement to divest his full 75 per cent direct and indirect shareholdings in the firm’s downstream business. According to a statement entitled ‘notification of divestment by the majority shareholder in...
Bankers Warehouse Limited has asked the Economic and Financial Crimes Commission to apologise and return the $2.8m seized from two of its staff at Akanu Ibiam Airport in Enugu on 20 December. The company which said it is licensed by...
One of Nigeria’s oldest financial institutions, Union Bank, on Friday night admitted ownership of a large consignment of cash which anti-graft operatives said they intercepted at the international airport in Enugu. The Economic and Financial Crimes Commission announced in a...
The Nigerian Communications Commission (NCC) has granted approval to Airtel, MTN and IHS to disconnect eight telecommunications operators over non-settlement of interconnect and facility charges. The commission gave the approval in a notice dated December 18, in line with the...
The amount in Nigeria’s Excess Crude Account (ECA) has declined to $631 million. Permanent Secretary, Ministry of Finance, Mr. Mahmoud Dutse, said in Abuja that withdrawals were made by the Federal Government from the ECA to settle the last tranche...
The Nigerian National Petroleum Corporation (NNPC) has shutdown fuel supply on system 2B pipeline, the installation rocked by an early morning fire at densely populated Abule Egba area of Lagos State, on Wednesday. Recall that several vehicles were at the...
The Central Bank of Nigeria (CBN) has spent $11.3 billion in foreign exchange interventions in the various segments of the interbank market in from January to December 2018. The interventions, as released by the CBN from time to time...
The Board of Diamond Bank Plc on Monday finally announced its merger with Access Bank Plc. The merger is expected to be completed in the first half of 2019. The News Agency of Nigeria reports that both banks recently denied media...
Access Bank Plc has finally acquired Diamond Bank Plc. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria, CBN. Another source said confirmed that the deal...
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