The Central Bank of Nigeria (CBN) says it will start sourcing foreign exchange from Dangote Group as soon as the latter's refinery and fertilizer projects begin operations.Speaking during the weekend during a tour of the construction site, Godwin Emefiele, the CBN governor, said the operations from both plants will result in huge forex earnings for the country.The fertilizer refinery is [...]
It was an expectant morning at the banquet hall of the state house, Abuja, as the economic management team (EMT) engaged representatives of the private sector from all over the country on the economy at the 10th presidential quarterly business forum.“We didn’t know you have done so much,” said Nike Akande, president of the Lagos Chamber of Commerce and Industry [...]
A wildfire on Friday engulfed parts of the Guinness Nigeria Plc, Aba Brewery, Abia, razing bottles, chemicals, office structures and furniture to ashes.Firefighters battled hard to contain the fire, which started at about 11 a.m. on Friday until about 6:46 pm.Okezie Uche, Aba Fire Service commander, told NAN that his men reached the site at about 1 p.m. and fought [...]
Transsion Holdings, parent company of TECNO, itel and Infinix, on Friday, launched a content curating app. Scooper is a news and content mobile application that brings users latest viral content from across the world.According to Mike Adegbite Adedotun, business development officer at Transsion, Scooper is not just a news app but an information app.He said Scooper gives users access to explore [...]
Ecobank Group has appointed Arunma Oteh, former treasurer of the World Bank, to its board of directors as a non-executive director.The bank made this public on Friday via a notice to the Nigerian Stock Exchange, as mandated by law.Oteh, research areas of focus are capital markets, development, and financial technology, recently joined Oxford University as an academic scholar at St. [...]
MOB Integrated Services Limited says it has boosted Liquefied Petroleum Gas (LPG) also known as cooking gas in the country by 11,000 metric tonnes.In a statement on Thursday, the company quoted Gbolahan Obanikoro, its chief executive officer (CEO), as saying that they have supplied over 25,000 metric tonnes monthly across sub-Sahara Africa.Obanikoro said his company has positioned itself as [...]
Ifie Sekibo, managing director and chief executive officer of Heritage Bank, says the bank will soon be listed on the Nigerian Stock Exchange (NSE).Fielding questions from journalists on Thursday on the sidelines of the Vanguard Economic Summit, Sekibo said the bank is expecting fresh capital injection from investors.He, however, declined to provide the identity of the investors or details of [...]
The federal government and the government of Brazil on Thursday inaugurated $1.1 billion agricultural mechanisation programme that covers the entire agricultural value chain.Vice President Yemi Osinbajo inaugurated the initiative, tagged “The Green Imperative” at an event attended by the Brazilian ambassador to Nigeria, Ricardo Guerra de Araujo.Osinbajo said that the project was a crucial component in the president’s signature focus [...]
The house of representatives has suspended deliberations on the 2019 appropriation bill.The house postponed the debate slated for Thursday plenary till its next sitting on Tuesday.Yakubu Dogara, speaker of the house, announced that deliberations on the bill was postponed because of late distribution the relevant documents to members.He said the documents were distributed to the lawmakers on Thursday morning.The development [...]
Oluseye Opasanya (SAN), the receiver-manager of Arik Air, says local and foreign investors are showing a keen interest in the airline. Arik Air, which was overtaken by the Asset Management Corporation of Nigeria (AMCON) in February 2017, has been in search for new investors to clear its debts and take over the airline from the federal government.While there have been many investment discussion [...]
