Business

The Federal Government has approved the payment of N413 billion ($2.1 billion) to oil marketers as outstanding payment for fuel subsidy claims, the NNPC has disclosed.‎ The Federal Government of Nigeria has not made payment to oil marketers since July, 2015, it was learnt.‎ Buhari According to the management of  NNPC, …

Butchers in Ekiti State on Friday trooped out in their hundreds to protest the imposition of new tax and closure of all abattoirs by Governor Ayo Fayose’s administration. Government had imposed a tax of N1, 000 on each cow slaughtered in the state, but the butchers refused to pay the …

The Central Bank of Nigeria (CBN) came down hard on the Financial Reporting Council of Nigeria (FRCN) saying the Council’s indictment of  Stanbic IBTC Holdings Plc (SIBTCH) is baseless and lacking in merit. The CBN Governor, Godin Emefiele who registered the bank’s displeasure with the Council in a letter addressed …

Victoria’s Secret has debuted its hotly-anticipated 2015 Fantasy Bra and revealed that model Lily Aldridge will have the coveted role of walking down the runway in the $2 million bra at this year’s fashion show in December. The bra is actually quite heavy. The total weight of the gem stones …

MTN is the market leader in Nigeria’s mobile-phone marketMTN Group Ltd.’s biggest market is now its worst headache.Nigeria’s telecommunications regulator (NCC) last week slapped the mobile-phone operator with a $5.2 billion fine, wiping almost 20 percent off its market value over the space of four days. There is a lot …

MTN group has resumed trading on the Johannesburg Stock Exchange (JSE), after an initial suspension earlier on Monday. The telecommunications company’s shares were halted few minutes before 11am on Monday, following controversies regarding its N1.04tr fine by the Nigerian Communications Commission (NCC). But MTN resumed trading at 1:40 pm, with warning …

Domino pizza,under the Eat N’Go Africa franchise, has concluded plans to reward its customers, particularly those in the Apapa axis, in a mega sales week from today,November 2 till November 5 in a Buy One Get One Free sales promotion. The sales week is part of the plans of the …

The Director,African Development Bank (ADB),Nigeria Country Office, Dr.Ousmane Dore has disclosed that the country lost $83.3 billion between 1960 to 2011 to Illicit financial flows. Dore said the lost was through the over invoicing of imports and under invoking of exports‎ through the inability  of the Federal Inland Revenue Service …

In a bizarre show of force and disregard for the Federal Ministry of Labour and Productivity, Nigerdock Nigeria plc,under the Jagal group,has sacked 1400 workers of the company,who were demanding better working conditions. The workers were sacked through text messages which they all received from Nigerdock’s recruitment agency,Prime Services‎ and …

Revenues from Nigeria’s oil sales declined by over two-thirds between September last year and July this year with “dire consequences” for Africa’s largest economy, the Nigerian National Petroleum Corporation has said. “The receipts witnessed a sharp decline of more than 67 percent from September 2014, when the receipt was at …