Category Archives: Business News

Reps order probe of finance minister, Gwarzo’s controversy

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The House of Representatives on Tuesday ordered a probe into the suspension of the Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo, by the Minister of Finance, Mrs. Kemi Adeosun, over alleged financial abuses. At its plenary in Abuja, the House directed its Committee on Capital Market and other financial Institutions to conduct […]

YouTube to hire over 10,000 workers

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YouTube CEO Susan Wojcicki said “some bad actors are exploiting” the Google-owned service to “mislead, manipulate, harass or even harm.” Google will have more than 10,000 workers address the problem by next year, though her blog post Monday doesn’t say how many the company already has. Spokeswoman Michelle Slavich said Tuesday that some have already […]

Jumia records highest Black Friday figures, partners Dangote

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Jumia Nigeria has announced that its 2017 Black Friday festival recorded its highest figures ever since the introduction of the event in Nigeria in 2013. Speaking at a press conference in Lagos, the Chief Executive Officer, Jumia Nigeria, Juliet Anammah, stated that the Black Friday festival, held in partnership with Intel, Pampers, Infinix, Philips, among […]

FG discusses Arik’s London route return with UK

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The Federal Government has commenced discussions with the government of the United Kingdom on infrastructural support for aviation security and the return of Arik Air to the London route. It was gathered that the Federal Government was also discussing with the Kano State Government the reasons why international carriers like Emirates, Turkish Airlines and KLM, […]

CBN weakens naira to 307/dollar for first time

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The Central Bank of Nigeria on Monday weakened the naira marginally, selling dollars at 307 for the first time on the official interbank market. Foreign exchange traders said the development signalled a gradual move to merge the regulator’s multiple exchange rates. According to a Reuters report, the country’s convoluted exchange rate system has been used […]

CBN, FIRS, others meet on FSS 2020

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The Central Bank of Nigeria and other agencies involved in the implementation of the Financial System Strategy 2020 will converge on Lagos this week to mark 10 years of strategising to bring into existence the programme. The objective of the event, which holds on Wednesday and Thursday, is to review the status of the FSS […]

Lagos pays N1.07bn to contributory pension retirees

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The Lagos State Government said it paid N1.075bn into the Retirement Savings Accounts of 301 retirees under the Contributory Pension Scheme in November this year. According to a statement from the Lagos State Pension Commission, the pensioners who are from the Lagos State public service include retirees of the local government and the state’s Universal […]

FG appoints Zubair as acting SEC DG

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The Federal Government has appointed Dr. Abdul Zubair as the acting Director-General of the Securities and Exchange Commission with immediate effect. He was before the appointment the director in charge of external relations in the commission. The appointment was disclosed in a statement by SEC on Sunday. The commission said it was awaiting the outcome […]

NNPC’s losses drop by 53% on Forcados revamp

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The group operational losses of the Nigerian National Petroleum Corporation dropped by 53.1 per cent following the revamp of the Forcados oil terminal and resumption of export activities there after it was shut down for several months. An analysis of the latest data from the national oil firm showed that its group deficit dropped by […]

Mojec defends prepaid meters’ quality

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Mojec International Limited, an indigenous prepaid meters manufacturing company, has said its smart prepaid meters meet both national and international quality standards. A member of the House of Representatives, Mr. Adedapo Lam-Adesina, had in a motion, entitled, ‘Need to curb excessive electricity charges being levied on consumers by distribution companies through prepaid meters,’ said electricity […]