Business News

Stop politicising Belema oilfield crisis, PANDEF cautions Shell
Belema oilfield Business Business News Crisis PANDEF Shell

Stop politicising Belema oilfield crisis, PANDEF cautions Shell

Belema community<br /> The Pan Niger Delta Forum (PANDEF) has cautioned Shell Petroleum Development Company (SPDC) against playing politics with the Belema oilfield in Kula, Rivers State shut 13 months ago. It held that the oil major never learnt anything from the Ogoni crisis. The group regretted that instead of […]

BIS warns global economy risks crisis ‘relapse’
Bank of International Settlements BIS Business Business News economy

BIS warns global economy risks crisis ‘relapse’

Bank of International Settlements The Bank of International Settlements said Sunday the global economy risked a “relapse” of the crisis that rocked it a decade ago, warning there was little “medicine” left to treat the patient a second time. “Things look rather fragile,” BIS chief economist Claudio Borio told reporters […]

Stakeholders berate MTN over persistent default, abuse of law
Business Business News MTN Taiwo Oderinde

Stakeholders berate MTN over persistent default, abuse of law

MTN •Tasks group on best practice, accountability Following double sanctions slammed on the MTN Group over allegations of illegal repatriation of $8.13 billion, and another $2 billion in outstanding taxes, capital market stakeholders believe these are a ‘dent’ on the firm’s corporate governance image. They urged MTN to entrench best […]

How economy lost single digit inflation target
Ayodele Akinwunmi Business Business News FSDH Merchant Bank Limited FXTM Lukman Otunuga

How economy lost single digit inflation target

Lagos The 18-month consecutive fall in inflation rate, had in the last two months, lost momentum in making more significant decline, as food prices, now coupled with assessed harvest failures, worsened outcome. Consequently, the nation’s inflation numbers returned to negative territory, losing 0.09 percentage points to 11.23 per cent in […]

Heritage urges peers to join in building vibrant economy
Business Business News Heritage Bank Plc Ifie Sekibo SMEs’

Heritage urges peers to join in building vibrant economy

Managing Director/Chief Executive Officer, Heritage Bank Plc, Ifie Sekibo (right); President, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uche Olowu; his wife, Beatrice; and Chief Compliance Officer/Senior Manager, Heritage Bank, Wumi Adeniyi, during CIBN’s 11th yearly banking and finance conference sponsored by the bank, in Abuja. The Managing Director […]

Persistent funds’ migration threatens stock market
Ambrose Omordion Business Business News Investdata Consulting Limited

Persistent funds’ migration threatens stock market

Nigerian Stock Exchange Capitalisation drops below N12 trillion,losses hit 19.5 per cent The continuous divestment from the equity market segment to other investment windows, especially the fixed income segment, has become a source of worry to capital market stakeholders. They have thus, urged the Federal Government to ensure that the […]

Business Business News Consolidated Hallmark Insurance Mary Adeyanju

CHI unveils travel insurance plan

Consolidated Hallmark Insurance (CHI) Plc has initiated a travel insurance plan tagged: CHI Plc Travel Insurance, in a move to increase insurance penetration in the Nigerian market. The company has also introduced additional digital premium payment channels in an attempt to ease the transaction process with its customers.The company’s Executive […]

Regulators equivocate on kerosene importation, as scarcity worsens
Business Business News Ndu Ughamadu NNPC

Regulators equivocate on kerosene importation, as scarcity worsens

Kerosene Industry regulators, the Department of Petroleum Resources (DPR), and Petroleum Products Pricing Regulatory Agency (PPPRA), have deliberately withheld importation data for kerosene, as scarcity hits the market with price differentiation.Even the Nigerian National Petroleum Corporation (NNPC), the biggest importer of the product could not offer any assistance. Households (which […]

PenCom recovers N14.76 billion from employers, issue 13,469 certs
Aisha Dahir-Umah Business Business News PENCOM

PenCom recovers N14.76 billion from employers, issue 13,469 certs

PenCom The National Pension Commission (PenCom), has announced a total recovery of N14.76 billion by Recovery Agents (RAs) to date.The Commission said the entire amount, which comprises principal contribution of N7.53 billion, and penalty of N7.23 billion, has been credited to the workers Retired Saving Accounts (RSAs). Acting Director General, […]

‘Minority shareholders need protection in governance code’
Business Business News ICAN Razak Jaiyeola

‘Minority shareholders need protection in governance code’

Razak Jaiyeola The Institute of Chartered Accountants of Nigeria (ICAN), has called on authorities to provide clarifications as well as review some specific sections of the 2018 Corporate Governance Code, which could hinder its implementation in line with international best practices. Corporate Governance Code is a national advertorial to the […]

Shareholders threaten to sue NAICOM over recapitalisation
Business Business News Chuks Nwachku ISAN NAICOM

Shareholders threaten to sue NAICOM over recapitalisation

Chuks Nwachuku The Independent Shareholders Association of Nigeria (ISAN), has threatened to sue the National Insurance Commission (NAICOM), if it enforces the October 1st recapitalisation for industry operators.     This was contained in a letter addressed to NAICOM, and signed by its solicitor, Chuks Nwachuku, on the “Tier-based minimum […]

CITN enforces charter Act, orders use of stamp, seal on tax returns
Business Business News CITN Lateefat Okunnu

CITN enforces charter Act, orders use of stamp, seal on tax returns

President, CITN, Chief Cyril Ede The Chartered Institute of Taxation Nigeria (CITN) has again notified the general public, particularly the tax practitioners and administrators that by January 2, 2019, all tax returns without the CITN stamp and seal, prepared and submitted to FIRS on behalf of taxpayers, will no longer be accepted.   Similarly, it […]

MAN reiterates support for manufacuring and equipment expo
Business Business News Frank Udemba Jacobs

MAN reiterates support for manufacuring and equipment expo

L-R Dr.Mrs Oduwole Olajumoke, Senior Special Adviser to the President on Industry, Trade and Investment, Dr. Frank Udemba Jacobs, President Manufacturer’s Association of Nigeria (MAN) Dr. Frank Udemba Jacobs, President Manufacturer’s Association of Nigeria (MAN) re-iterated the organisation’s commitment to support the Manufacturing industry. This was made known at the […]

NDIC seeks collaboration, strong ethical banking standards
Business Business News CIBN NDIC Uche Olowu Umaru Ibrahim

NDIC seeks collaboration, strong ethical banking standards

Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation, Umaru Ibrahim The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has stressed the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism […]

Investors chide judiciary for delaying market cases  
Business Business News Efe Ebelo Isiaka Idoko IST Kemi Adeosun Moses Igbrude

Investors chide judiciary for delaying market cases  

PHOTO: George Osodi/Bloomberg Dissatisfied by the delay in adjudicating capital market-related cases, investors have stressed the need for the judiciary to give priority to such cases, and stop granting unnecessary orders to perpetrators of fraudulent activities. Stakeholders, who insisted that the issuance of interim orders to operators that violate market […]

CBN, government, financial institutions promise to tackle MSMEs’ challenges
Business Business News CBN Central Bank of Nigeria MSME

CBN, government, financial institutions promise to tackle MSMEs’ challenges

[FILE PHOTO] Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. REUTERS/Afolabi Sotunde/File Photo The Federal Government, Central Bank of Nigeria (CBN) and other financial institutions in the country yesterday in Abuja said challenges confronting Micro, Small and Medium Enterprises […]