By Foster Obi Indonesia has expressed desire to buy more crude oil from Nigeria. A press statement by the Nigerian National Petroleum Corporation (NNPC), signed by Ndu Ughamadu, Group General Manager, Group Public Affairs Division said the request was made by the Head of Economic Affairs of the Indonesian Embassy, Mr. Dwiyatna Widinugraha, who led […]
The United States of America (U.S.A) has warned African leaders on the implications of shopping for loans from china to finance projects. Secretary of State Rex Tillerson said on Thursday that African countries should weigh Chinese loans carefully. He said that Washington was not trying to keep Chinese investment away from the continent. Tillerson, a […]
Nigeria’s parliament passed legislation on Wednesday meant to help authorities tackle money laundering and funding for terrorism by allowing its financial intelligence unit to operate free of state control. The move is aimed at removing bureaucracy impeding investigations of financial crime and was taken under international pressure on Nigeria to crack down on endemic corruption […]
The Securities and Exchange Commission (SEC) has extended its free e-dividend registration deadline to March 31. A senior management staff in the commission, who pleaded anonymity said in Lagos. The official said that the deadline was extended in principle for the third time for the operators to clear their e-dividend backlogs. E-dividend refers to online […]
The International Monetary Fund (IMF) on Wednesday said Nigeria was slowly exiting recession but remains vulnerable because its growth is tied to oil prices with improved revenues restricted to the energy and agriculture sectors. The assessment, published in a report on Wednesday, came in its Article IV consultation, an annual appraisal of a country’s economy. […]
Latest Forbes Top 10 Billionaires List for 2018 showcases the likes of Amazon chief Jeff Bezos, Microsoft co-founder Bill Gates, famous investor Warren Buffet, Facebook founder, Mark Zukerberg among others. A record 2,208 billionaires made the Forbes’ 32 annual ranking of the world’s billionaires this year. Amazon chief Jeff Bezos tops the Forbes list of […]
By Foster Obi Coca-Cola is about to produce an alcoholic drink for the first time in the company’s 125-year history – with an alcopop-style product in Japan. Nigeria is expected to be the next port of call after this. WHY NIGERIA? Analysts believe there is a huge market for alcoholic beverage in Nigeria and Coca-Cola […]
US President Donald Trump’s top economic adviser Gary Cohn is resigning, the White House has said. It is the latest in a series of high-profile departures from President Trump’s team. There has been speculation that Mr Cohn, a supporter of free trade, was angered by Mr Trump’s plans to impose tariffs on aluminium and steel […]
Nigerian oil company Oando has dropped its lawsuit against the domestic Securities and Exchange Commission (SEC), paving the way for a forensic audit of the firm, the regulator said in a statement on Tuesday. Oando had filed a lawsuit against the SEC to halt the regulator’s suspension of the company’s shares and the planned audit, […]
Nigeria’s central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar […]