Category: Business News

The National Human Rights Commission (NHRC) has set up a special investigative panel to look into petitions and complaints of oil spillage and environmental degradation by international oil companies in Nigeria to bring indicted companies to book. The Executive Secretary of the Commission, Professor Bem Angwe said that along with the findings of the panel,…

President Muhammadu Buhari and King Salman Bin Abdul-Aziz of Saudi Arabia have expressed their commitment to finding a lasting solution to the lingering crash in the prices of oil. President Buhari and Abdul-Aziz expressed this commitment in Riyadh on Tuesday, February 23, at a bilateral meeting hosted by the latter. A statement by President Buhari’s…

Transactions recorded across Point of Sale, PoS terminals in January 2016 plunged by N7billion in Nigeria. The transactions volume by various merchants across the country in January was valued at N46 billion in some 3.6 million number of transactions compared to N53 billion in December 2015. The December figure was attributed to festive activities at…

Chairman of Stanbic IBTC Holdings Plc, Atedo Peterside, has said that the heightened state of uncertainty in the Nigerian economy is scaring off investors, as the situation confronts them with questions that they cannot answer or successfully explain. He gave this insight while opening the bank’s investors’ conference that hosted the country’s business community, including…

•To revert to Dangote Flour Mills Alhaji Aliko Dangote’s Dangote Industries Limited (DIL) has acquired 65.6 per cent majority equity stake in the former Dangote Flour Mills Plc, now rebranded Tiger Branded Consumer Goods (TBCG) Plc, from Tiger Brands Limited, the South African core investors. A cross deal for the transfer of more than 3.28…

The Central Bank of Nigeria (CBN) said it had distributed N14.7 trillion total credit to the economy as of June 30th, 2015. Of this amount, N760.8 billion representing five per cent, was contributed by collective Development Financial Institutions (DFIs), in the country. The CBN Governor, Mr. Godwin Emefiele, made this disclosure yesterday in Abuja while…