Category: Business

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...

Diamond Bank confirms merger with Access Bank

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...

Ex-bank MD bags 19 years for N29m fraud

Federal High Court in Lagos on Friday sentenced a former acting managing director of Century Microfinance Bank Limited, Olise Robinson, to 19 years imprisonment for...

FIRS generates N5trn revenue

The Federal Inland Revenue Service (FIRS) generated N5 trillion in the second week of this month. It said by the end of this year, it would have generated N5.3 trillion...