Business

CBN bursts money transfer racket

By a seemingly innocuous circular released on July 22, 2016, the Central Bank of Nigeria (CBN) appears to have dealt a heavy blow to a money transfer business that has ripped off the Nigerian economy for years. Nigerians working abroad remit home over $21 billion annually, but the benefits of this huge stock of forex […]

Business

FG to provide enabling environment for investors

The Minister of Trade and Investment, Dr Okechukwu Enelama, has announced the approval of the Presidential Business Enabling Environment Council chaired by the Vice President, Prof. Yemi Osinbajo. Enelama, who announced the approval by President Muhammad Buhari at a town hall meeting in Enugu on Monday, noted that the idea was to identify the various problems […]

Business

Minister of Planning makes case for China’s role in Nigeria’s growth process

Nigerian’s current efforts at enhancing relationship with China is not just for financial assistance but more importantly  to tap from its transformation experience and narrow the trade deficit between the two countries, Budget and National Planning Minister, Senator Udoma Udo Udoma, has explained. The Minister, while interacting with staff of the Nigerian Embassy in Beijing, said […]

Business

Microsoft to axe 2,850 more jobs

Microsoft Corp said it would cut about 2,850 more jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 percent of its workforce. The company said in May it would cut 1,850 jobs in its smartphone business, most of them in Finland. Microsoft bought Finland-based handset […]