Category: Business
Fear of divestment looms as FG orders IOCs to pay $20bn taxes
Shell, Chevron Exxon Mobil to pay about $2-$5bn each The Federal government has directed international oil companies to immediately pay nearly US$20 billion in taxes they owe to local states, […]
Buhari promises to cut oil output for higher prices
President Muhammadu Buhari has pledged the cooperation of Nigeria on the effort to reduce oil output in order to attract higher prices in the global market. Buhari made the promise […]
CBN buoys forex market with $210m
The Central Bank of Nigeria (CBN) has made a fresh injection of $210 million into the inter-bank foreign exchange market in its determination to boost supply in that sector of […]
Zenith Bank posts N232bn PBT, offers N2.80k/share dividend
Zenith Bank has announced an impressive result for the year ended December 31, 2018, with Profit Before Tax (PBT) rising to N232 billion for the 12 months ended December 31, […]
Nigerian Breweries declares N19bn profit for 2018
Nigerian Breweries Plc has announced a profit after tax of N19.4 billion for the 2018 financial year. According to the audited financial results released to the Nigerian Stock Exchange, the […]
NNPC takes final decision on new gas field
A step for attaining sufficiency in domestic gas supply was taken by the Nigerian National Petroleum Corporation (NNPC) on Wednesday. The corporation took the Final Investment Decision (FID) on the […]
CBN eases capital pressure on struggling banks
The Central Bank of Nigeria (CBN) has given the country’s lenders some much-needed relief by extending the time they will have to implement stricter accounting rules for bad loans. Lenders […]
NDIC’s new board promises commitment to sound financial policies
Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have stated their commitment to the formulation of sound policies to enhance the safety and stability of […]
Obiano’s wife empowers skills acquisition trainees with start-up kits
No fewer than 86 girls who recently concluded basic self-starter acquisition programmes have been presented with start-up kits and stipends by the wife of the Governor of Anambra State, Mrs. […]
Oil prices fall as U.S steps up drilling
Oil prices fell by more than 1 percent on Monday as U.S drilling activity picked up, even as a refinery fire in the U.S state of Illinois resulted in the […]