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Business

Nigeria works with UK to attract more investment

Sep 2, 2017

Boris Johnson cracks a joke: L-R, Johnson, Osinbajo, Patel, Foreign Minister Geoffrey Onyeama and Senator Udoma Udo Udoma, Minister of Budget and Planning   The federal government would work with government of the United Kingdom to stimulate more direct private sector investments into Nigeria. The Minister of Budget and National Planning, Mr. Udoma Udo Udoma, said this in Abuja at a meeting with a delegation from the British government led by the Secretary of State for International Development, Mrs Priti…

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Business

Zenith Bank Overtakes First Bank As The Largest Bank In Nigeria

Aug 27, 2017

Zenith Bank Nigeria PLC has just overtaken First Bank PLC as the largest bank in Nigeria. The data is based on both bank’s financial reports which showed that Zenith Bank’s total asset base is now NGN4.9 trillion compared to FBN Holdings’ NGN4.8 trillion total asset base. As seen on this table, Zenith Bank took over the position with a slight margin and either of FBN Holdings or Zenith might take the lead at by the time they both disclose their…

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Business

Bill Gates regains world’s richest person title hours after Jeff Bezos dethroned him

Jul 29, 2017

Amazon said its net income declined to $197 million in the second quarter, from $857 million the same period last year, marking a massive 77 percent decline.   Revenue rose 25 percent to $38 billion from $30.4 billion, but that was not enough for Bezos to retain his title.   The e-commerce giant stock price plunged 3.2 percent to as low as $1,020 per share in after-hours trading, after they closed the day at $1,046 a share. Bezos, who owns…

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Business

“5 Simple Strategies To Boost Your Career”

Jun 17, 2017

  If you feel working at your current job is not enough and you feel your career needs a boost, you can do something about it. Having a job that pays the bills and being good at it is important, but that is just one phase of your career. Soon enough, you will long for more than a pay check. You will want opportunities to fully express your potentials and abilities. When you find yourself at such points, below are…

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Business News

Price Of Diesel Drops By Over 30% In Four Months

Jun 12, 2017

Following the fluctuations in forex and international crude oil prices, the ex-depot price of diesel has dropped by over 30 per cent between February and June 2017. As a deregulated product, the price of diesel is controlled by the market forces of demand and supply, unlike petrol, which has a price cap. The international market price of crude above $53 in February, the prices of refined products were also high as the ex-depot price of diesel was between N225 per…

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Business

“How To Save Money On Weekend Rocks”

Jun 10, 2017

  So we’ve all had a stressful week and TGIF just makes us so happy Abi? There is need to unwind during the weekend so that our brains can at least rest and prepare for the stress of the next week. But these rocks can sometimes wipe out someone’s entire salary if you’re not careful especially if you live in Lagos where everything is expensive. Here are a few tips to save cash while enjoying for rocks of your life.…

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Business

Forte Oil to raise N20bn fresh capital

Jun 9, 2017

The management of Forte Oil Plc on Friday said it was perfecting arrangements to raise the sum of N20 billion from the equity market to support operation and drive diversification strategy.   Mr Julius Omodayo-Owotuga, Forte Oil Group Executive Director, Finance and Risk Management, said this at a news conference in Lagos.   Omodayo-Owotuga said that the proceeds realised from the fund raising exercise would be used for business expansion, enhancement of working capital and downstream businesses, among others.  …

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Business

10 Tips For Protecting Your Debit Card From Fraud

Apr 18, 2017

How well do you keep your debit card (ATM card)? Would you give anyone access to your bank accounts, unfortunately you are doing just that when you keep your credit cards carelessly, debit card takes money directly from your account, which makes them juicy target for fraudsters. Here are few tips that will help you protect yourself from card skimming or any form of fraud. 1. Update Your Bank Information Regularly: Update your the contact information (i.e. mobile number, e-mail,…

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Business

Shell forecloses maintenance shutdown for oil assets until mid-April

Mar 29, 2017

Shell yesterday foreclosed a shutdown of any of its assets for maintenance until after the 225, 000 barrels capacity per day Bonga Floating Production Storage and Offload (FPSO) is re-opened in first half of April.   A cumulative production capacity of 6.75 million barrels would be shut-in in the one month period that the facility would be shut down and Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), Bayo Ojulari, who gave the hint of “no shut down…

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Business News

Dangote leads Nigeria dollar chase

Mar 29, 2017

Nigeria’s hard-currency shortage is forcing companies to get creative in their hunt for dollars. For many, including Dangote Cement Plc, that’s meant a bigger focus on exports.   The continent’s largest producer of the building material has about 1,500 trucks hauling cement across the border to Benin, Ghana and Chad to access hard currency, Chief Executive Officer Onne Van Der Weijde said in an interview. Diageo Plc’s Nigerian unit said it was considering shipping products including Guinness stout to South…

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Business

NAWA!! See What Gambling, Ponzi Scheme Is Doing To Imo State University Students (IMSU)

Mar 26, 2017

I don’t know whether the headquarters of networking business or better still ponzi schemes is in Imo state university owerri (IMSU) or what. At night you will see a group of students huddled round one laptop awaiting the arrival of a new website, Immediately it opens, hundreds of students rush, invest money most of which promises to either pay you double or triple, other times, 4 times of what you invested. The early birds get their return and it closes…

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Business

MTN Loses 714,000 Internet Subscribers

Mar 26, 2017

Nigeria’s telecommunications networks lost 1,275,573 internet users in February, with MTN losing 714,700 subscribers, the highest. The NCC made the disclosure in its internet subscribers’ data for February. The publication indicated that internet users on both Global System for Mobile communications (GSM) and Code Division Multiple Access (CDMA) networks dropped from 91,304,755 in January to 90,029,182 in February. It also showed that, of the 90,029,182 internet users in February, 89,998,873 were on GSM networks, while 30,309 were on CDMA networks.…

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Business

Dollar sales: Nigeria’s overnight lending rate hits 100 pct

Mar 24, 2017

Nigeria’s overnight lending rate rose as high as 100 percent this week after the central bank withdrew naira liquidity to offset dollar purchases, but it fell sharply on Friday as the government disbursed budget funds through the banking system.   Overnight rates fell to 10 percent on Friday after the government passed 285 billion naira ($928 mln) for February allocations through the money market, reducing borrowing costs.   The central bank has been intervening on the official market to try…

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Business

Imo rice: Okorocha’s N100m lifeline trapped in Agric Ministry

Mar 23, 2017

Farmers in the Imo state Anchor Borrowers’ Programme may crash out of the programme should Ministry of Agric fail to release to them the NI00million lifeline earmarked by Governor Rochas Okorocha allegedly for the project.   The governor allegedly released the fund to assist over 1,000 farmers involved in the dry season rice farm project to commence planting pending the release of the federal government loan by the Central Bank of Nigeria (CBN).   The governor’s intervention, it was learnt…

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Business News

Dangote may pay N100bn for degrading Cross River National Park

Mar 22, 2017

If the Rainforest Resource and Development Centre (RRDC) were to have its way, Dansa Foods, a subsidiary of the Dangote Group, would cough up a whopping N100 billion as aggravated ecological damage to the Cross River National Park. agbokim-waterfall-cross-river-park Agbokim Fall in the Cross River National Park In a pre-action notice by Messrs Kanu G. Agabi & Associates, solicitors to RRDC (a non-governmental organisation), the Calabar-based Dansa Agro Allied Plantation Limited that is said to operate the Dansa Factory has…

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Business

Forbes 2017: Otedola falls off world’s billionaire list

Mar 21, 2017

Femi Otedola Nigerian cement tycoon, Aliko Dangote, is still the richest black person in the world with a fortune estimated at $12.2 billion, the 2017 FORBES list of the World’s Billionaires has shown. According to the list released on Monday, Mr. Dangote was followed by Saudi-Ethiopian construction magnate, Mohammed Al-Amoudi, who is worth $8.4 billion. Of the 2,043 people who made it to the 2017 FORBES list of the World’s Billionaires, 10 of them are black, down from 12 in…

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Business

Mastercard backs CashlessAfrica confab

Mar 20, 2017

Digital payment solutions provider, Mastercard, has been unveiled as the headline sponsor of the 6th edition of the CashlessAfrica Conference and Expo. The event, according to a statement, is organised by Mobile Money Africa and is scheduled for 22 to 23 March, at the Oriental Hotel, Lekki, Lagos, Nigeria.   The CashlessAfrica Conference and Expo is a platform for technology companies, FinTech’s and other financial institutions to come together and share best practices in order to build a strong economy…

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Business

Naira to appreciate further as CBN boosts forex sale

Mar 19, 2017

The Naira is set to appreciate further in the week as the Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine customers. The spokesman of CBN, Mr Isaac Okorafor, gave the assurance in a statement on Sunday in Lagos. The News Agency of Nigeria (NAN) reports that the apex bank had so far kept to its promise of continuing to supply enough forex to guarantee liquidity in the…

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Business

Good News!! Naira Appreciates Further Against Dollar| See New Rates

Mar 17, 2017

The Naira on Thursday consolidated its gains against the dollar at the parallel market. The Nigerian currency gained two points to exchange at N455 to a dollar, from N457 it posted on Wednesday, while the Pound Sterling and the Euro traded at N550 and N480, respectively. At the Bureau De Change window, the Naira traded at N400 to a dollar, while the Pound Sterling and the Euro closed at N550 and N487, respectively. Trading at the interbank segment of the…

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Business

‘Nigeria Will Soon Recover From Recession’- World Bank

Mar 17, 2017

The World Bank has said that Nigeria will soon recover from its economic recession. Eme Essien-Lore, the Country Manager in Nigeria, International Finance Corporation, stated this in Lagos on Thursday. ”In our perspective and with the numbers that we have seen coming from the World Bank and the International Monetary Fund (IMF), Nigeria’s economy has recorded about one per cent real growth. ”That is a bit lower than government’s expectation which is about 2.2 per cent growth for 2017. “It…

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Business

See What The Woman Who Don Jazzy Gave N250k On Twitter Last Year Did With The Money

Mar 15, 2017

Last year, Don Jazzy gave a woman on Twitter N250,000 to start a business after she pleaded for financial assistance. See herehttp://www.nairaland.com/3535535/don-jazzy-gifts-woman-n250k#52199197 Now, three months later, the woman has given an account of what she did with the gift money she received from the Mavin Records boss. She also shared photos as proof. https://macdanielsblog.blogspot.com.ng/2017/03/woman-who-donjazzy-gave-n250000-on.html https://mobile.twitter.com/Folasheycrown22/status/841607846261329925…

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Business Featured

“Interview: 13 Ways To Guarantee You Will NOT Get The Job”

Mar 9, 2017

1, Bad mouthing your current or past company or manager. Stay away from this at every cost! 2, Eating, drinking, chewing gum. Oh, and an interview is not the time to grab the free snacks in the office. 3, Swearing — even if it’s a lax company culture, and even if your interviewer is swearing. Save the F-bomb until you’re safely in the position. 4, Saying “like” and “um” a lot. 100 percent of hiring managers will notice if your…

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