We have 2 billion litres of petrol for end-of-year movements - NNPC

18 October 2017
We have 2 billion litres of petrol for end-of-year movements - NNPC

Nigerian National Petroleum Corporation (NNPC) has a stock of over two billion litres of petrol to ensure a hitch-free end-of-year movement of motorists. Speaking at the weekend after his investiture...

Your borrowing isn’t sustainable, World Bank tells FG

17 October 2017
Your borrowing isn’t sustainable, World Bank tells FG

World Bank has disagreed with Minister of Finance, Mrs. Kemi Adeosun, on the need for the Federal Government to borrow more in order to develop the nation’s infrastructure and stimulate...

UBA gross earnings hit N333.92 billion

17 October 2017
UBA gross earnings hit N333.92 billion

United Bank for Africa (UBA) Plc on Monday announced gross earnings of N333.91 billion for the third quarter ended Sept. 30, 2017. This is according to the company’s third quarter...

Facebook buys teen app tbh

17 October 2017
Facebook buys teen app tbh

Facebook Inc has acquired tbh, an app popular among teens, as the world's largest social network looks to attract more users. The app, an acronym for "To be Honest", allows...

Oil jumps on fears of new Iran sanctions, Iraq conflict

16 October 2017
Oil jumps on fears of new Iran sanctions, Iraq conflict

Oil markets jumped on Monday on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq, while a falling U.S. rig count supported prices there.Brent crude...

Dangote’s deals and FG’s collusion - Feyi Fawehinmi

13 October 2017
Dangote’s deals and FG’s collusion - Feyi Fawehinmi

To start to understand how Aliko Dangote, Africa’s richest man, came to have such influence over the Nigerian government, it is useful to go back in time to 2003. Before...

NNPC shuts Kaduna, Warri refineries

13 October 2017
NNPC shuts Kaduna, Warri refineries

Nigerian National Petroleum Corporation (NNPC) has indefinitely shut down two of the nation’s three refineries due to increase in their operation costs and several maintenance interventions. A top official of...

NERC fines Ibadan DISCO N50m

13 October 2017
NERC fines Ibadan DISCO N50m

Nigerian Electricity Regulatory Commission (NERC) has slammed a fine of N50 million to Ibadan Electricity Distribution Company (IEDC). The fine was on account of the failure of the company to...

There's a major dark side of success, according to former CEO of Apple

13 October 2017
There's a major dark side of success, according to former CEO of Apple

Avoid becoming a victim of your own success, said former Apple and Pepsi CEO John Sculley. The more successful you are, the harder you fall. And, according to John Sculley,...

IMF warns Nigeria, others over rising foreign debt

12 October 2017
IMF warns Nigeria, others over rising foreign debt

International Monetary Fund (IMF) yesterday warned the Federal Government about its rising debt profile, especially of foreign loans. Speaking yesterday at the ongoing World Bank/IMF Annual Meetings in Washington D.C,...

Kachikwu, Baru meet, agree on stronger oil sector regulation

11 October 2017
Kachikwu, Baru meet, agree on stronger oil sector regulation

For a moment on Tuesday, Minister of State for Petroleum Resources, Mr Ibe Kachikwu, and Group Managing Director, of Nigerian National petroleum Corporation, NNPC, Maikanti Baru, appeared to set aside...

12 ways successful people get more done than the rest of us - Lolly Daskal

11 October 2017
12 ways successful people get more done than the rest of us - Lolly Daskal

Most of us know at least one madly productive person—someone who's able to accomplish more in a couple of hours than the rest of us get done all day. And...

The 4 principles I've used to build my business and my life - Ian Bremmer

09 October 2017
The 4 principles I've used to build my business and my life - Ian Bremmer

My friend Ray Dalio, founder of Bridgewater Associates, just came out with a new book about the principles that have guided him and his firm throughout the years (his recent ...

NPA spends N140bn of N170bn annual revenue – Senate

06 October 2017
NPA spends N140bn of N170bn annual revenue – Senate

Senate President, Mr Bukola Saraki, at plenary on Thursday demanded the report by Senate Ad Hoc Committee on Alleged Misuse, Under-remittance and Other Fraudulent Activities, which was mandated to investigate...

We earn N1tr for FG but lack funds to operate - DPR

06 October 2017
We earn N1tr for FG but lack funds to operate - DPR

Department of Petroleum Resources (DPR) branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on relevant arms of the government to look into the situation...

CBN to blacklist exporters over non-repatriation of forex proceeds

06 October 2017
CBN to blacklist exporters over non-repatriation of forex proceeds

In line with its drive to ramp up the country’s foreign exchange (forex) earnings, Central Bank of Nigeria (CBN) disclosed that henceforth, exporters that fail to repatriate their forex earnings...

Nigeria to get $22bn in foreign remittances in 2017 - World Bank

05 October 2017
Nigeria to get $22bn in foreign remittances in 2017 - World Bank

World Bank has predicted that Nigeria will record foreign remittances inflow of $22 billion in 2017, higher than the $19 billion recorded by the country in 2016. However, India retained...

Bank charges: CBN recovers over N50 billion for customers

05 October 2017
Bank charges: CBN recovers over N50 billion for customers

As part of its efforts to protect bank customers from undue exploitation, Central Bank of Nigeria, CBN said on Wednesday it has so far recovered over N50 billion from erring...

Oil could be hit hard by 3 major geopolitical risks that may be 'coming to a head in October'

05 October 2017
Oil could be hit hard by 3 major geopolitical risks that may be 'coming to a head in October'

Wall Street's top oil watcher says there are three geopolitical headwinds that might be "coming to a head in October" — and they could have implications for oil markets. The...

CBN is printing money to keep FG afloat and alarms are ringing

04 October 2017
CBN is printing money to keep FG afloat and alarms are ringing

Feyi Fawehinmi For a while now, economists and finance types who follow Central Bank of Nigeria (CBN) have been sounding a low intensity alarm about the CBN’s direct funding of...

Oil prices fall for second day on oversupply concerns

03 October 2017
Oil prices fall for second day on oversupply concerns

Oil prices fell on Tuesday, declining for a second day and sapping more strength from a third-quarter rally, amid signs that a global glut in crude may not be clearing...

Oil prices edge lower after strong third-quarter

02 October 2017
Oil prices edge lower after strong third-quarter

Oil prices edged lower on Monday in early Asian trading, pausing for breath after posting gains of as much as 20 percent in the third quarter, after a survey pointed...

Mobile phone subscribers drop further in Q2

02 October 2017
Mobile phone subscribers drop further in Q2

Total number of active mobile phone subscribers in Nigeria recorded a decline of 6.15 per cent to 143 million in the second quarter of 2017, a report by Financial Derivatives...

FG to float $2.5bn Eurobond for capital project – DMO

29 September 2017
FG to float $2.5bn Eurobond for capital project – DMO

Debt Management Office (DMO) on Thursday said the Federal Government would float a Eurobond to raise 2.5 billion dollars before the end of 2017. DMO Director-General, Mrs Patience Oniha, made...

Foreign debt payment to gulp $11.62bn in 10 years – DMO

28 September 2017
Foreign debt payment to gulp $11.62bn in 10 years – DMO

Nigeria may have to grapple with the payment of $11.62bn in foreign debt in the next 10 years, a projection of Debt Management Office has shown. The debt service payment...

Why I feel inspired about the future after my recent trip to Africa - Steve Tzikakis

28 September 2017
Why I feel inspired about the future after my recent trip to Africa - Steve Tzikakis

We face an exciting - but uncertain - time ahead. The disruption of the Fourth Industrial Revolution will echo across our time and change every facet of work and life...

Naira appreciates as MPC holds rate

27 September 2017
Naira appreciates as MPC holds rate

Naira on Tuesday exchanged at N364 to the dollar at the parallel market as Monetary Policy Committee (MPC) meeting of CBN holds benchmark interest rate at 14 per cent. MPC...

British Airways sacks stewardess for racist rant against Nigerian passengers

27 September 2017
British Airways sacks stewardess for racist rant against Nigerian passengers

British Airways has sacked a stewardess who posted a racist Snapchat rant attacking Nigerian passengers. The lady, identified as Joanne Wickenden, got the sack after a two-hour meeting with her...

Ogunbanjo emerges NSE President, replaces Aig-Imoukhuede

26 September 2017
Ogunbanjo emerges NSE President, replaces Aig-Imoukhuede

Nigerian Stock Exchange (NSE) on Monday announced the emergence of Mr Abimbola Ogunbanjo as the new President of National Council of the Exchange. The exchange, in a statement, said that...

Uber CEO apologises for ‘mistakes’ after London license blow

26 September 2017
Uber CEO apologises for ‘mistakes’ after London license blow

Uber’s new CEO Dara Khosrowshahi has written an open letter apologizing for “mistakes we’ve made” following the announcement on Friday by London’s transport regulator that it was withdrawing licensing from...

10 behaviors that make you a terrible boss - Marcel Schwantes

25 September 2017
10 behaviors that make you a terrible boss - Marcel Schwantes

People leave managers — not jobs. So what's your bad boss horror story? You know you have one. Bad boss behaviors that lead to horrific employee disengagement and turnover are...

Osinbajo inaugurates electricity meter, syringe factories

24 September 2017
Osinbajo inaugurates electricity meter, syringe factories

Vice President Yemi Osinbajo has said that the problem of irregular power supply in Nigeria is caused by inaccurate billing system resulting from insufficient metering machines. Mr. Osinbajo made the...

... and business is good for Nigerian food vendors in Saudi Arabia

24 September 2017
... and business is good for Nigerian food vendors in Saudi Arabia

Nigerian food vendors in Makkah, Saudi Arabia, have continued to record a boom in their businesses after the completion of 2017 pilgrimage. The vendors are Nigerians residing in the Holy...

Oil rises as OPEC defers extension of output cuts

23 September 2017
Oil rises as OPEC defers extension of output cuts

Oil prices ended nearly 1 percent higher on Friday, close to their highest levels in months, as major producers meeting in Vienna said they may wait until January before deciding...

In new setback, Uber to lose license to work in London

23 September 2017
In new setback, Uber to lose license to work in London

Uber will lose its license to operate in London because it may be endangering public safety and security, the local regulator said Friday, in a severe blow to a company...

Barack Obama earns $400,000 an hour from speeches to bank

22 September 2017
Barack Obama earns $400,000 an hour from speeches to bank

Obama is earning staggering amounts of money through speeches. Former President Barack Obama is reportedly earning up to $400,000 (£296,000) an hour for making speeches to investment banks. The 56-year-old...

World’s richest woman dies at 94

22 September 2017
World’s richest woman dies at 94

Liliane Bettencourt, heiress to cosmetics firm L'Oreal, has died aged 94, her family has confirmed. A statement said she had died at home "peacefully" overnight. With an estimated 2017 net...

FG okays concession of Kano, PH airports

20 September 2017
FG okays concession of Kano, PH airports

Federal Government on Tuesday said it had approved concession of Kano and Port Harcourt airports, as well as transaction advisers for the process. Minister of State for Aviation, Hadi Sirika,...

Capital market abuses: SEC slams life ban on top businessman

20 September 2017
Capital market abuses: SEC slams life ban on top businessman

Securities and Exchange Commission, SEC, on Tuesday banned Managing Director of Partnership Investment Company Plc and Partnership Securities Limited, Victor Ogiemwonyi, from operating in the capital market for life. Apart...

Nigeria’s retail boom might be over before it started unless ...

18 September 2017
Nigeria’s retail boom might be over before it started unless ...

Over the past decade, large American-style malls have become a more regular feature in Nigeria’s largest cities. Investors have been attracted by the promise of Nigeria’s large population and growing...