Category: Business

Bank CEOs to go tougher on bad debtors

Chief executives of banks yesterday condemned the spate of smear campaigns on banks and their executives by bad debtors in order to either delay repaying loans or avoid...

Court seals Access Bank, Diamond Bank merger

The Federal High Court (FHC) has sanctioned the approved scheme of merger between Access Bank Plc and Diamond Bank Plc, the final seal that effectively brings the merger...

CBN bans sale of forex to textile importers

The Central Bank of Nigerian ( CBN ) has moved to revive Nigeria’s moribund textile and clothing industry with foreign exchange restrictions on importers of textiles...

The top 26 billionaires own $1.4 trillion, as much as 3.8 billion other people

The world’s billionaires are growing $2.5 billion richer every day, while the poorest half of the global population is seeing its net worth dwindle. Billionaires,...

Naira down at N359.5/$ in parallel market

The Naira, yesterday, depreciated to N359.5 per dollar in the parallel market. According to  naijabdcs.com, the live exchange rate platform of the Association of...

NCC refutes Falana’s N600bn claim on Revenue Loss

The Nigerian Communications Commission has faulted the claim by a Lagos lawyer, Femi Falana (SAN), that the country was losing about N600 billion from the...

FG has paid $5.4bn Paris Club refund to states

A total amount of $5.4bn has so far been paid to states by the Federal Government for settlement of the Paris Club Refund. The Minister of Finance, Mrs Zainab Ahmed,...

$5.8b Mambilla power project hit by legal crisis

Barely a year after the signing of an agreement for the construction of the $5.792billion (about (N2.096trillion) Mambilla hydro-power project in Taraba State,  the...

Nigerians spend N1.6 trillion on generators every year – NESREA

The Director-General, National Environmental Standards and Regulations Enforcement Agency (NESREA), Lawrence Anukam, on Thursday said about 60 million Nigerians spend...

Construction cost of Lagos-Ibadan Expressway section rises to N134bn

The construction cost for the section one of the Lagos-Ibadan Expressway, stretching from Lagos to Sagamu Interchange has risen to N134bn, the Federal Controller of...