Business

By Pius Adesanmi You must excuse the obscenity, “iyalaya anybody”, in my title. When you invite a well-known scholar of African popular cultures to address such a distinguished assembly of actors and professionals in Nigeria’s corporate and entrepreneurial world, you must be prepared to be illuminated by the philosophical nuggets …

THE Asset Management Corporation of Nigeria, AMCON, Wednesday admitted before an investigative panel of the House of Representatives that its current liabilities stand at N6.6 trillion following purchase of bad loans worth N3.3 trillion at the sum of N1.7 trillion. This was disclosed by the Managing Director of AMCON, Ahmed …

CONTRARY to its earlier promise to pass the 2016 budget today, the Senate, has given Tuesday, next week,as the day it would pass the budget. The Red Chamber, which had also,earlier assured that its Committee on Appropriation would lay the various reports of committees collated, before it during yesterday’s plenary, …

Dangote Group, owned by Africa’s richest man Aliko Dangote, opened a tomato-processing factory near Nigeria’s northern city of Kano aimed at vying for the local market with imports from China. “We have fully started operations today and the target is 1,200 metric tons per day,” Abdulkareem Kaita, managing director of …

Global soccer body FIFA has applied to U.S. authorities for tens of millions of dollars in damages from ex-officials indicted there for graft and recognized for the first time executives had in the past “sold” votes in World Cup hosting contests. Gianni Infantino, recently elected president to clear out the …

Proceedings commenced in the alleged Central Bank of Nigeria (CBN) N8 billion currency scam on Tuesday with a new judge, Justice Joyce Abdul-Maleek, taking charge at the Federal High Court 2, Ibadan.  The News Agency of Nigeria (NAN) reports that Abdul-Maleek took over from Justice Olayinka Faji who initially handled …

Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday directed that stability test be conducted on all building constructed by the Lekki Gardens to ascertain their structural integrity, saying that any building found to be defective will be demolished. Governor who addressed Government House Correspondents at the Lagos House, Ikeja, shortly …

The Acting Managing Director and Chief Executive Officer  of the Bank of Industry (BOI), Mr Waheed Olagunju has disclosed that the bank is ready to reduce the level of unemployment in the country as stated by the International Labour Organisation  (ILO)  from  25 per cent to 8 per cent,by giving …

Renowned actress and movie producer, Funke Akindele, has been appointed as an ambassador and the face of  iROKO World, a fully Nollywood movie channel on Pay-TV operator, Startimes, by iROKO media. iROKO World was formerly known as iROKO Plus. This,as iROKO media said their desire to take Nollywood globally necessitated …

A World Bank Specialist on Welfare Economics, Prof. Foluso Okunmadewa says Nigeria loses 1.5 billion dollars in Gross Domestic Product (GDP) annually to vitamin and mineral deficiencies. Okunmadewa said this at the Stakeholders’ Dialogue on the reviewed Draft National Policy on Food and Nutrition (NPFN) by the Federal Ministry of …