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Business Coronavirus delaying reconstruction of Ibom Science Park — Akwa Ibom govt – Vanguard News
Akwa Ibom State Government has said that the actual commencement of reconstruction work on Ibom Blue Sea Science and Technology Park project had been delayed following the outbreak of the Coronavirus disease. The state Commissioner for Science and Technology, in charge of supervising the...- Nigeria Business News
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Business Nigeria’s recession buffer weak as Coronavirus drives oil near $47/bbl – The Guardian Nigeria News
With the impact of the coronavirus taking a toll on oil demand and the economy in general, the fear of another recession appears to be imminent as oil price dropped to $53.71 per barrel, amidst falling external reserves and excess crude account (ECA)... Read more via The Guardian Nigeria News...- Nigeria Business News
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Business Indian, others accused of forging SON receipts – Vanguard News
A Federal High Court in Lagos, on Wednesday, ordered the remand of an Indian and two others for allegedly forging Standards Organisation of Nigeria, SON, receipts. Chucks Okeke, Omkar Shinde, Shittu Adedeji and a company, Everchem Paints Nigeria Limited, were arraigned before Justice Saliu...- Nigeria Business News
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Business Tax Evasion: Tribunal orders Ecobank to pay N1.6 billion to FIRS – Official – Premium Times Nigeria
The Tax Appeal Tribunal, Lagos Zone, has ordered Ecobank to pay at least N1.6 billion to the Federal Inland Revenue Service (FIRS) as its company income tax for 2016. The tribunal declared as illegal, the decision of Ecobank Nigeria Limited to pay N5.5 billion as dividends to … Read more...- Nigeria Business News
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Business Court bars FG, agencies from deducting Rivers funds over disputed oil wells – The Guardian Nigeria News
A Federal High Court sitting in Abuja has restrained the Federal Government and its agencies from deducting revenues accruable to Rivers State from the disputed Mbede and Akiri oil wells. Justice Tawo Tawo gave the order yesterday in response to an … Read more via The Guardian Nigeria News...- Nigeria Business News
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Business $4.8bn Nigerian dam to go ahead after lengthy arbitration – Global Construction Review News
Nigeria is clear to start building Africa’s second-largest hydroelectric plant after the government settled an arbitration case that was holding it up. The Mambilla dam complex, now priced at $4.8bn, is to be built by a consortium led by China Energy Engineering and Sinohydro.... Read more...- Nigeria Business News
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Business Nigeria picks Egypt Air consortium for aviation venture – Nasdaq News
Nigeria has selected a consortium including Egypt Air [RIC:RIC:EGY.UL] to set up an aviation leasing company as part of a government plan to overhaul the country’s aviation sector. Decades of neglect and a lack of investment have left Nigeria with low-quality… Read more via Nasdaq News –...- Nigeria Business News
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Business Nigeria’s BitFxt Technology raises $15mln to expand activities – Ecofin Agency: Economic information from Africa – GCR
(Ecofin Agency) – Nigeria-based digital currency company BitFxt Technology has raised $15 million from the British Payitup Clearinghouse Ltd to expand its activity. The agreement allows BitFxt to get a $125 million Revolving Margin Facility for all its traders to leverage their position for...- Nigeria Business News
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Business Nigeria pledges to boost capital market investment – Xinhua News
Nigeria will further introduce incentives to boost investments in the nation's capital market, said Minister of Finance, Budget and National Planning Zainab Ahmed during a visit to the Nigerian Stock Exchange (NSE) in Lagos.... Read more via Xinhua News – https://ift.tt/2T0yFR3 Get more...- Nigeria Business News
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Business Axe dangles on govt officials over $1.3bn oil scam – Newtelegraph
$500 million cash paid by Aliyu Abubakar is alleged to come out of the $1.3 billion licence fee paid by Eni and Shell for access to OPL-245 offshore oilfield located in southern Niger Delta.... Read more via Newtelegraph – https://ift.tt/2PjYWaU Get more: Nigeria Business News- Nigeria Business News
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Business Banks to stop accepting Diamond Bank cheques – Newtelegraph
Deposit Money Banks (DMBs) in the country have started informing their customers to bank any remaining Diamond Bank cheques they may have before the end of this month when the lenders would stop accepting such cheques.... Read more via Newtelegraph – https://ift.tt/2usc0DP Get more: Nigeria...- Nigeria Business News
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Business Consumers kick, slam NERC, DisCos over 50% tariff hike – Newtelegraph
Electricity consumers, yesterday, protested the planned 50 per cent tariff increment by the electricity distribution companies (DisCos). The 50 per cent tariff increase, which is expected to begin from April 1, will raise the average tariff from the… Read more via Newtelegraph –...- Nigeria Business News
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Business NERC caps estimated billing, issues April 30 deadline for metering – The Guardian Nigeria News
Worried about the low level of prepaid meters deployment to electricity consumers, the Nigerian Electricity Regulatory Commission (NERC), has capped the amount, otherwise known as estimated bills that distribution companies can charge unmetered consumers.... Read more via The Guardian Nigeria...- Nigeria Business News
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Business Oil communities in Rivers, A-Ibom protest, allege marginalisation – Vanguard News
Palpable tension is mounting in oil rich Akwa Ibom State as oil producing communities in Oron ethnic nationality, yesterday, took to the streets of Oron town to vent their anger over alleged marginalization… Read more via Vanguard News – https://ift.tt/39VWlvs Get more: Nigeria Business News- Nigeria Business News
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Business Investments in Nigeria reduced by 204% in 2019 – NIPC – Premium Times Nigeria
The total value of investments in Nigeria reduced by about 204 per cent in 2019 compared to 2018, the Nigeria Investment Promotion Commission (NIPC) has said. The commission said the total value of the investments in 2019 is $29.91 billion compared to $90.89 billion in 2018...… Read more...- Nigeria Business News
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Business FG to begin online sale of train tickets – Vanguard News
The Infrastructure Concession Regulatory Commission, ICRC, weekend, said it has engaged private sector operators to deploy electronic ticketing solution for the Nigerian Railway Corporation, NRC, to cut down on the purchase tickets at train stations.... Read more via Vanguard News –...- Nigeria Business News
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Business CBN recovers over N82m for commercial banks customers in Katsina – Vanguard News
The Katsina state branch of the Central Bank of Nigeria (CBN), says it facilitated the refund of N82.04 million to customers of commercial banks in the state in 2019, arising from 57 complaints received by the apex bank. Alhaji Dahiru Usman, Controller in charge of CBN Katsina … Read more...- Nigeria Business News
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Business Borrowing from pension fund could compromise scheme, erode confidence — Workers – The Guardian Nigeria News
On Tuesday, December 31, the African Development Bank (AfDB) openly endorsed the idea of African countries spending part of their pension funds on infrastructure development. President of the AfDB, Dr. Akinwunmi Adesina... Read more via The Guardian Nigeria News – Nigeria and World News –...- Nigeria Business News
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Business NLNG Bonny to begin gas distribution through Port Harcourt Refinery – The Guardian Nigeria News
The Federal Government has said moves are on to resume gas supply from the Nigerian Liquefied Natural Gas, (NLNG), Bonny to Port Harcourt Refinery gas facilities to make more gas available and cheaper for consumers.... Read more via The Guardian Nigeria News – https://ift.tt/2T6fVhN Get...- Nigeria Business News
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Business Zenith Bank Plc fined N21 million fine for violating banking regulations in 2019 – Pulse Nigeria News
CBN sanctioned Zenith Bank Plc for violating banking regulations in 2019. According to the financial statement, the bank incurred N21 million in penalties and fines. Despite the sanctions, Zenith Bank Plc made N208.8 billion profit in 2019.… Read more via Pulse Nigeria News –...- Nigeria Business News
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