Category Archives: Business News

Afreximbank inaugurates due diligence data platform

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The African Export-Import Bank (Afreximbank), has inaugurated a pan-African customer due diligence platform known as “Mansa” to provide a trusted source of primary data required for due diligence checks on counterparts in Africa. Dr Benedict Oramah, Afreximbank’s President said this in a statement issued by the Head of Media of the bank, Obi Emekekwue on Thursday […]

Why we picketed MTN, by NLC

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The Nigeria Labour Congress (NLC) yesterday said it decided to picket all MTN offices nationwide because of the unfriendly labour practices of the company, saying no amount of blackmail will deter the union from continuing with the action. The MTN office in the Maitama District of Abuja, yesterday was under lock and key following the […]

Cadbury Bounces Back To Profit Line 

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Atedo Peterside

Cadbury Nigeria Plc has returned to profitability; says the Chairman of the company, Atedo Peterside. Addressing shareholders at the 53rd Annual General Meeting (AGM) of the Company, Atedo Peterside revealed that the feat was achieved despite the harsh economy and the difficult operating environment. According to him, the “Socio-Economic Environment in the year under review […]

Labour pickets MTN over anti-workers policies

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The organised labour yesterday picketed MTN Lagos office and did same simultaneously across the country. It said it is in protest against the telco’s alleged anti-workers policies. Nigeria’s largest carrier was accused of casualising workers, non-unionisation of workers and homophobic behaviour to the Nigerian workers aside other anti-labour practices. The labour group, including the Nigeria […]

Banks stop cash withdrawal from overseas ATMs

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Banks have suspended all cash withdrawals from overseas Automated Teller Machines (ATMs), except for customers whose cards are linked to domiciliary accounts funded locally, The Nation has learnt. Banks have been encouraging travellers to open and fund dollar accounts, which aside having no spending limits, provide them the flexibility to spend at all times. The lenders are […]

NSE Insurance Index leads by 0.53 percent

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Activities on the floor of the Nigerian Stock Exchange closed for the week with the NSE Insurance Index appreciating by 0.53%. Although all other indices finished lower, twenty seven equities appreciated in price during the week, lower than thirty two in the previous week. Forty five equities depreciated in price, higher than thirty nine equities […]

National Carrier: Nigeria receives Outline Business Case Compliance Certificate

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The Nigerian government has received the Outline Business Case Certificate of compliance for the establishment of a National Carrier in the country. The Minister of State for Aviation, Hadi Sirika, who received the certificate from the Infrastructure Concession and Regulatory Commission (ICRC) expressed optimism that the National Carrier project would become a reality by December […]

Ambode: Lekki Zone export flow’ll hit over $6b

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•Governor urges Buhari to sign ACFTA Lagos State Governor, Akinwunmi Ambode yesterday said the export inflow at the Lekki Free Zone (LFZ), is projected to hit over $6billion (about N2.159trillion) by 2020. He said it was time for Nigeria to develop sustainable roadmap to rev up export with particular focus on multi-sector products far beyond […]

Union kicks over SON’s rejection of election result

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SON

A major industrial crisis is brewing at the Standards Organisation of Nigeria (SON) following the management’s rejection of the  union election. It called for its cancellation and a fresh election. The management, it was gathered, was transferring the newly elected union officials and other vocal union members out of the headquarters in contravention of labour laws. […]

Oil prices ease

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Oil prices dropped yesterday, falling 97 cents to $73.17. Oil’s uptick in recent weeks has brought the commodity to levels not seen since it started a rapid descent in November 2014 that culminated in a brief trip below $30 per barrel in February 2016. And consequently, Fourth of July gasoline prices notched a four-year high, […]