Barring other unforeseen arrangements, Nigeria lost about N122.232 billion ($611.16 million) between January and September 2015, as oil and gas companies flared 203.72 billion cubic feet, bcf, of gas.

Director-General, Lagos Chamber of Commerce, LCCI, Mr. Muda Yusuf commenting on Fashola’s ministerial position, said the triple portfolio is too heavy for one minister.

INVESTORS across Africa will soon be saved the hassle of travelling long distances to attend Annual General Meeting (AGMs) of their companies as a platform that will enable them to attend general meetings electronically and also vote real-time will soon be launched by Africlear Global.

Consumers in Nigeria et only 50 percent of generated power, a former Minister of Power, Prof. Barth Nnaji, told the Senate ad hoc Committee on Power.

F ollowing the faceoff between Federal Reporting Council of Nigeria, FRCN that led to the sanction of Stanbic IBTC over its audited accounts for 2013 and 2014 and suspension of the financial reporting numbers of the bank’s Chairman, Mr. Atedo Peterside, and its Chief Executive, Mrs. Sola David-Borha, Shareholder Activist, Alhaji Gbadebo Olatokunbo, expressed concern stating that shareholders were misled by the information made available by FRCN.

ABUJA—The Chief of Civil- Military Affairs, Nigerian Army Headquarters, Brig. General R.I. Nicholas, has pledged to establish a cordial and working relationship between tanker drivers and the Nigerian army.

As part of its financial inclusion drive, Skye Bank has launched the “Skye Pearl” initiative to help its female customers unlock their potentials. The initiative which was unveiled at the weekend, is a platform that offers series of benefits to sit-at-home mothers, professionals and women-owned SMEs, by offering them a chance to grow and expand […]

The Central Bank of Nigeria (CBN) said that the Federal Government’s bail-out funds to states have boosted loan repayment in the banking industry. This was one of the highlights of the apex bank’s Credit Conditions Survey for the fourth quarter of 2015. The survey revealed reduction in loan default across the industry courtesy of the bail-out funds to state governments.

The one per cent transaction fee charged on all transactions through the Federal Government’s Treasury Single Account is shared among Remita, banks, the Central Bank of Nigeria (CBN) and other payment operators involved. Recall that on Wednesday the Senate had ordered its joint Committee on Finance, Banking and Other Financial Institutions and Public Accounts to probe the allegation that the e-collection agent, Remita, had been paid 25 billion, being the one per cent commission it charged for the transfer of N2.5 trillion of Federal Government funds to the TSA.

Nigeria’s declining economic fortunes has begun to threaten the strong growth being recorded by the nascent electronic business sector, which has become one of the major drivers of the economy in the last three years, Vanguard investigation has revealed. Five major operators cutting across retail, hotel booking and classifieds who spoke to Financial Vanguard, all reported about 25 to 30 per cent reduction in their websites’ traffic over the last six months.