Saturday , 22 February 2020
Latest News
Home » Business (page 5)

Business

Delta To Build N5bn Film Village

Delta To Build N5bn Film Village

The Delta House of Assembly today approved the request by Gov. Ifeanyi Okowa to construct a N5 billion film village and leisure park in the state. Reports by the News Agency of Nigeria indicated that the film village and leisure park will be built at Ugbolu, in Oshimili North Local Government area. The assembly, which resumed plenary on today, has ... Read More »

Concern as Russian speaking hacking group attacks banks

Concern as Russian speaking hacking group attacks banks

Silence before the storm: Russian speaking hacking group is attacking banks in Sub-Saharan Africa The malware used in the attacks indicates that the threat actors are most likely to be an infamous Silence hacking group LAGOS, Nigeria, January 13, 2020/ — Kaspersky (www.Kaspersky.co.za) security researchers have reported on thousands of notifications of attacks on major banks located in the sub-Saharan ... Read More »

Dangote targets $30billion in revenue by 2022

Dangote targets $30billion in revenue by 2022

President of Dangote Group, Aliko Dangote has projected a turnover of $30 billion for his businesses in the next two years. He said though the company’s annual turnover is about $4 billion now, but with the completion and running of the refinery, fertilizer, petrochemicals and other businesses, the company’s turnover should be in the region of $30 billion in the ... Read More »

Banks borrow N19.6tn from CBN amid rising liquidity problems

Banks borrow N19.6tn from CBN amid rising liquidity problems

Commercial banks borrowed N19.64 trillion from the Central Bank of Nigeria in 2019, indicating a 73% increase from the N11.36 trillion borrowed in 2018. This was revealed in the apex regulator’s financial data report. The banks through the apex’s bank Standing Lending Facility (SLF) window borrowed N7.43 trillion in the second half of 2019 against N4.5 trillion borrowed within the same ... Read More »

US tensions with Iran could overshadow Washington’s trade fight with China

US tensions with Iran could overshadow Washington’s trade fight with China

The U.S.-China trade fight dominated investors’ attention for much of 2019 — but that will likely be overshadowed by tensions between the U.S. and Iran this year, a political risk consultant predicted today. “I actually think this (Iran) is going to be a more important issue for investors this year than China-U.S.,” said Alastair Newton, director of Alavan Business Advisory ... Read More »

US Team Arrives For Security Assessment Of MMI Airport

US Team Arrives For Security Assessment Of MMI Airport

A three-man Transport Security Administration (TSA) team from the United States of America has arrived Nigeria to commence assessment of the Murtala Muhammed International Airport (MMIA), Lagos. A statement from the Federal Airports Authority of Nigeria (FAAN) said “The assessment, which began on January 7th  is expected to cover critical areas of the airport.”     Read More »

Banks rush for capital injection ahead new CBN capitalisation announcement

Banks rush for capital injection ahead new CBN capitalisation announcement

Commercial banks are  gripped with fear of the unknown ahead of a possible announcement of a new recapitalisation plan by the Central Bank of Nigeria (CBN) this year. Most banks have gone far beyond the N25 billion minimum capital requirement and are strategising to raise Tier 2 capital. As part of this strategy, one of the bank’s chief executive officers, ... Read More »

NAICOM extends licence renewals for brokers and adjusters

NAICOM extends licence renewals for brokers and adjusters

The National Insurance Commission (NAICOM) has approved the renewal of the licences of insurance brokers and loss adjusters to hold every two years as against one year. The Director, Policy and Regulation Directorate, NAICOM who spoke in Kano, said the two-year renewal process will commence from April this year. He added that the commission, last week released the guideline for ... Read More »

OSUN IS A LAND GREEN WITH OPPORTUNITIES – CHIEF WHIP

OSUN IS A LAND GREEN WITH OPPORTUNITIES – CHIEF WHIP

The Chief Whip of Osun State House of Assembly, Honourable Tunde Olatunji, has described the state as a land of opportunities. The lawmaker spoke at the NYSC Orientation Camp, Ede where he presented a paper on the “OPPORTUNITIES AND CHALLENGES OF THE BUSINESS LANDSCAPES IN EDE NORTH, EDE SOUTH, EGBEDORE AND EJIGBO LOCAL GOVERNMENTS OF OSUN STATE.” at the BS-E4 ... Read More »

Lagos businessman to be arraigned over N2.9billion fraud

Lagos businessman to be arraigned over N2.9billion fraud

The on-going court vacation has stalled the arraignment of a Lagos businessman Kenneth Ndubuisi Amadi alleged to have obtained the sum of N2.9billion by false pretences from a Petroleum company Eunisell Limited. Consequently, the case has been adjourned till 29 January, 2020 when the accused businessman will be arraigned. Ndubuisi Amadi and his company, Idid Nigeria Limited, were alleged to ... Read More »

North West to copy Southwest’s operation Amotekun- Masari

North West to copy Southwest’s operation Amotekun- Masari

The Governors of the North Western States said they are ready to copy their south western states counterparts by launching a joint security operation to check mate the growing state of insecurity in the region including kidnapping and banditry activities Governor Aminu Bello Masari of Katsina State who is also the Chairman of the Governors of the region made the ... Read More »

Customs generates N1.34trillion, surpasses target by N403billion

Customs generates N1.34trillion, surpasses target by N403billion

The Nigeria Customs Service, NCS, generated a total of N1.34tn revenue for the government in the 2019 fiscal year, an increase of N403.72bn over the N937.28bn target which the Federal Government had set for the service in the 2019 fiscal period. Mr Joseph Attah, Public Relations Officer of NCS, disclosed the figure in a statement issued in Abuja. The revenue ... Read More »

As publishers pivot to paid, newsrooms focus more on sales

As publishers pivot to paid, newsrooms focus more on sales

By Max Willens, With publishers increasingly prioritizing subscriptions as a revenue stream, newsrooms are slowly evolving to nudge reporters into thinking more about sales. At The Dallas Morning News, managers changed the default display setting in their analytics provider Parsely so reporters could track returning visitors rather than page views. At Tribune Publishing, weekly meetings of editors with reporters now ... Read More »

Firms with less than N25m turnover will no longer pay company tax- FG

Firms with less than N25m turnover will no longer pay company tax- FG

  The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax. Currently, all companies are expected to pay the Federal Government 30 per cent of their profit as Companies Income Tax. However, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said once the ... Read More »

Dangote to move business to Big Apple,New York

Dangote to move business to Big Apple,New York

Aliko Dangote, Africa’s richest man, plans to take office space in Big Apple New York to help diversify his investments and avoid the risk of currency fluctuations on his home continent. According to a Bloomberg report, Dangote will use the base and an existing one in London to become more global after the completion of a $12 billion, 650,000 barrel-a-day ... Read More »

Four govs, Ooni arrive for Amotekun’s inauguration

Four govs, Ooni arrive for Amotekun’s inauguration

At exactly 11:59 am, four governors, led by the Chairman, Southwest Governors’ Forum, Arakunrin Oluwarotimi Akeredolu arrived at the venue of the inauguration of Amotekun. He was joined by the host Governor Seyi Makinde; Ekiti State Governor Kayode Fayemi and Osun State Deputy Governor Gboyega Alabi. The Ooni of Ife, Oba Adeyeye Ogunwusi arrived at the same time. The programme ... Read More »

Court jails DG NCAC ,Runsewe, for contempt

Court jails DG NCAC ,Runsewe, for contempt

An FCT High Court, Maitama on Thursday sentenced, Otunba Olusegun Runsewe, Director-General, National Council for Arts and Crafts (NCAC) for contempt of court order. Justice Jude Okeke in a ruling on the motion seeking for the order of the court to sentence Runsewe to prison for disobeying court order of Dec. 15, 2017, Okeke held that Runsewe, failed to establish ... Read More »

Miyetti Allah Moves to Stop Farmers, Herders’ Clashes, Bans Night Grazing

Miyetti Allah Moves to Stop Farmers, Herders’ Clashes, Bans Night Grazing

Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) wednesday banned night grazing nationwide as part of measures to curb the perennial clashes between herders and farmers. However, pan-Yoruba socio-cultural group, Afenifere, differed with the Arewa Consultative Forum (ACF) and the Ohanaeze Ndigbo on the decision. ACF also called on farmers to stop attacks on underage herders who are too young ... Read More »

Russian Bank, VTB, Sues Mozambique over $2 billion debt scandal

Russian Bank, VTB, Sues Mozambique over $2 billion debt scandal

Russian bank, VTB, is suing a Mozambique state-owned company over $535 million it extended as part of a series of loans now at the centre of a $2 billion debt scandal. News agency reported that an online court filing dated Dec. 23 showed that VTB has lodged a lawsuit in Britain’s High court against the Mozambique state and Mozambique Asset ... Read More »

Makinde will do well for Oyo State – Alaafin

Makinde will do well for Oyo State – Alaafin

…as Gov promises to rebuild Akesan Market, provide support to victims of fire disaster Governor Seyi Makinde has said that the State Government would rebuild the Akesan Market, Oyo and also provide support to all victims of last Sunday’s fire incident, which razed the popular 400 year old market. The Governor, who stated this at the site of the inferno ... Read More »