Archives for Business
Access Bank speaks on Diamond takeover
Herbert Wigwe, CEO of Access Bank, says the bank has a strong acquisition and integration track record. Speaking to the conclusive acquisition of Diamond Bank, Wigwe said the banks involved…
We were never interested in Nigeria Air – Qatar Airways
Akbar Al Baker, the chief executive officer of Qatar Airways, says his company was not looking to be a core investor in the national carrier project, Nigeria Air. Speaking to…
CBN adds fertiliser to initial 41 items not eligible for forex
The Central Bank of Nigeria (CBN) has added one more item to the 41 items not eligible for foreign exchange (forex). On Monday, the apex bank added fertiliser to the…
Foreign direct investment soars by over 50% in three months
Nigeria’s foreign direct investment (FDI) soared by percent between July and September 2018. According to the National Bureau of Statistics (NBS), FDI went up by $ million from $ million to $ million…
Nigeria’s GDP growth falls in Q2
The rate at which Nigeria’s gross domestic product grew in the second quarter of 2018 slowed to from recorded in the first quarter of the year. According to the Gross…
MultiChoice appeals court judgement against increased tariff
MultiChoice, the parent company of DSTV and GoTV, has appealed an interim court from the federal high court sitting in Abuja. On August 23, Nnamdi Dimgba, justice of the court,…
Naira steady, dollar slips while gold gains slightly
The Nigerian Naira continued to witness stability against a weaker Dollar during Tuesday’s trading session. Although the local currency could remain buoyed by repeated central bank intervention, external risks in the form…
CBN ‘may increase’ monetary policy rate if inflation persists
The Central Bank of Nigeria (CBN) may increase monetary policy rate (MPR) if inflationary pressures do not abate, Joseph Nnanna, deputy governor of the apex bank, has told Bloomberg. Nnanna said…
Apple’s market value hits $1trn
Apple has become the first publicly quoted company in the US to exceed $1 trillion in terms of value. On Tuesday, the tech giant said it posted a $ billion profit for…
World Bank pledges support for Nigeria’s economic growth
The World Bank says it is willing to provide technical support to Nigeria in critical areas to facilitate the country’s economic growth and development. A statement from the ministry of…