The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has said the meeting held between it and Polaris Bank management over the sack of its members ended inconclusively. The Secretary-General, NUBIFIE, Mr Mohammed Sheikh, told the News Agency of Nigeria (NAN) on Wednesday in Lagos that the...
BUSINESS
High interest rates and the Russian war in Ukraine continue to significantly slow global economic growth, according to a new report from the World Bank. Following growth of 3.1 per cent last year, the global economy would slow to 2.1 per cent in 2023, the World Bank said on...
As Nigeria mulls ways of diversifying its economy, Dr Bashir Jamoh, Director-general, Nigeria Maritime and Safety Agency (NIMASA) says the agency is working towards making blue economy Nigeria’s main source of revenue. Jamoh made this known while speaking with journalists on the sideline of the three-day Nigeria-Netherlands Economic Consultation...
MTN Nigeria Communications (MTNN) Plc has beaten Dangote Cement Plc, and others to emerge as the most profitable company in Nigeria in 2022 after making N553.97 billion. This is based on information gathered from the companies audited results released on the Nigerian Exchange (NGX). According to the NGX, Nigerian...
A Chieftain of the All Progressives Congress ( APC), Dr Haruna Gololo, has urged Economic and Financial Crimes Commission ( EFCC) to investigate immediate past Minister of Aviation over unpleasant discoveries on purported lunch of Nigeria Air aircraft. Gololo made the call while addressing a news conference in Abuja...
Naira remained constant on Tuesday, exchanging at N464.67 to the dollar at the Investors and Exporters’ window. The local currency did not change from its value on Monday, while the open indicative rate closed at N464.96 to the dollar on Tuesday. An exchange rate of N467 to the dollar...
The National Union of Banks, Insurance, and Financial Institutions (NUBIFIE) on Tuesday picketed the headquarters of Polaris Bank, Victoria Island, over alleged violation of workers’ rights. The Secretary-General, Mr Mohammed Sheikh, accused the bank management of sacking workers without following due process required by labour law. “We are here...
African Development Bank (AfDB) President, Dr Akinwumi Adesina, says Africa has the necessary partnerships and technologies to eradicate hunger. In a statement issued on the banks website, Adesina said what Africa needed was action, including robust financing to achieve this. He spoke during the opening session of the 8th...
Nigeria recorded N927.16 billion trade surplus between January and March 2023, says the National Bureau of Statistics (NBS). This is contained in the NBS Foreign Trade in Goods Statistics Report for Q1 2023 released in Abuja on Tuesday. In its report, the NBS said Nigeria’s total exports stood at...
U.S. tech giant Microsoft agreed to pay a 20 million U.S. dollars penalty to settle allegations it collected personal information from children without their parents’ consent. The U.S. Federal Trade Commission (FTC) alleged Microsoft collected personal information from children who signed up to its Xbox gaming system without notifying...
Nigeria and other members of the Oganisation of Petroleum Exporting Countries (OPEC) as well as the Non-OPEC members have agreed to cut production volumes to ensure global oil market stability. The aggreement was reached at the 35th Joint Ministerial Monitoring Committee (JMMC) meeting of OPEC held in Vienna, Austria...
By KAZEEM HASSAN, Yola – The newly unveiled national carrier, Nigeria Air, has revealed that it would soon make formal announcement for job opportunities as it continues to make preparations for commencement of commercial flights, which is projected to take place in the third quarter of this year. Nigeria...
The House of Representatives ad hoc committee investigating alleged loss of crude oil revenue has summoned the Managing Director of Nigeria Export Promotion Council (NEPC) over unremitted 1.67 billion dollars. The committee is investigating alleged loss of over $2 billion in revenue from illegal sale of 48 million barrel...
(The Dangote brand has, for the sixth consecutive year, been adjudged the most admired african brand among top 100 brands on the continent. The company announced the development in a statement signed by Mr Francis Awowole- Browne, corporate communications personnel, Dangote Group, on Sunday in Lagos. According to the...
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has commended the Federal Government for approving importation of petroleum products by private firms. Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, said this while reacting to the development in Awka on...
The National Bureau of Statistics (NBS), says prices of food items such as tomatoes, beans and yams witnessed increases in April. It made the declaration in its Selected Food Prices Watch Report for April issued in Abuja on Saturday. The report also stated that the average price of 1kg...
First Bank of Nigeria Ltd. recorded significant growth across key metrics in the first quarter of 2023. In its first quarter 2023 financial result, the bank stated that it recorded gross earnings of ₦245.7 billion, a 44.2 per cent growth against the ₦170.4 billion it earned in the corresponding...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will no longer fix prices or release templates for Premium Motor Spirit (PMS). Authority Chief Executive (ACE), Mr Farouk Ahmed, who said this at a news conference in Abuja on Friday, said that market forces would henceforth dictate...
Some traders in Abuja have lamented the spike in transport fares as fuel stations hiked the pump prices of petrol. The traders expressed their displeasure in an interview with the News Agency of Nigeria (NAN) correspondent in Abuja. NAN reports that barely hours after President Bola Tinubu said “fuel subsidy is...
By OFFOR CALLISTUS, Abuja – The Nigeria Communications Commission (NCC) has flagged off the first Talk-To-The Regulator Forum for the Year, 2023, holding in the South-South, Yenagoa, Bayelsa State. The Executive Vice Chairman of the NCC, Professor Umar Danbatta, in his keynote address, acknowledged the crucial contribution of the...