MTN, Africa’s largest mobile-phone operator by sales, is thinking of selling about $500m in shares of its Ghana business, say insiders. The group was approaching high-net-worth individuals in that country about a private placing of a 35% stake in the Ghana unit, valuing it at about $1.5bn. billion, said these sources, asking not to be […]
Nigeria’s foreign reserves have reduced from $26.51 billion from the second quarter of 2016 to $24.74 billion in September, Budget and National Planning Udoma Udo Udoma says. At the 57th annual conference of Nigeria Economic Society (NES) in Abuja on Tuesday, he said Nigeria had revenue and foreign currency concentration problems. At the conference with […]
The Nigerian Civil Aviation Authority says it will convene a meeting with foreign airline operators over their alleged rejection of naira payment for flight tickets. The General Manager, Public Relations, NCAA, Sam Adurogboye, on Tuesday confirmed that the NCAA had received complaints from some passengers. Adurogboye said the passengers had the right to make payments in Naira, […]
By Amechi Obiakpu Nigerian Electricity Regulatory Commission, NERC, will on Wednesday September 28, 2016 hold a public consultation on Mini-Grid. The public consultation is scheduled to hold at Nike Lake Resort, Abakpa, Enugu, within the franchise area of the Enugu Electricity Distribution Company (EEDC). A statement by Enugu Electricity Distribution Company said that the aim […]
By Amechi Obiakpu A Network and Security expert, Adekunle Adeniji, has advised youths and young entrepreneurs to use social media platforms to build brands other than just chatting away with friends. Adeniji said that in the past, social media platforms were seen as tools for connecting with friends and loved ones but present trend has […]
This year’s edition of the Annual Powering Africa: Nigeria Investment Summit will hold October 12-14 in Abuja, the organisers have said. They said in a statement issued on Tuesday that over 300 senior participants from Nigeria, the Americas, Europe and Asia are expected. The statement listed organisations expected to feature to include the International Finance Corporation, FMO, […]
Nigeria’s overnight naira interbank lending rate rose sharply to an average of 40 per cent on Friday, up from 15 per cent last week after the Central Bank of Nigeria (CBN) debited commercial lenders’ accounts for treasury bills and bonds purchases. Dealers said the large cash withdrawal to settle debt purchases led to some commercial lenders […]
Research analysts at Vetiva Capital Limited, an investment banking firm, on Tuesday said there could be a minor growth rebound to 1.97 per cent in Nigeria’s economy by 2017, “driven by low base effect and a more stable foreign exchange market.” Nigeria slipped into recession for the first time in 25 years with 2016 second […]
By Amechi Obiakpu Determined to foster a closer cooperation and strengthening of competitive positions in China, Lufthansa Group and Air China signed a wide-reaching partnership agreement in Beijing on Tuesday. The partnership agreement will enable the two aviation groups to jointly operate all connections between Europe and China as part of a commercial joint venture. […]
Nigeria may lose up to 1.3 trillion dollars in revenues if it signs the Economic Partnership Agreement (EPA), the Manufacturers’ Association of Nigeria (MAN) has said. The association’s view is contained in a statement, issued by its President, Mr Frank Jacobs, in Lagos on Monday. The News Agency of Nigeria (NAN) reports that EPA is […]