BALTIMORE, MD (AFRICAN EXAMINER) – The Lagos State Government led by Governor Akinwunmi Ambode is to borrow N119.7 billion to finance the 2016 budget of N662.588 billion The governor signed the budget into law on Monday in Ikeja, Lagos, Nigeria, saying that the budget has an estimated total revenue of N542.873bn with the balance of N119.714bn expected […]
The chairman of one of China’s largest state-owned mobile operators, China Telecom, is being investigated by the country’s anti-corruption watchdog. Chang Xiaobing is “suspected of serious violation of discipline”, according to a statement on the Central Commission for Discipline Inspection website. The executive was reported missing by local media on Sunday. He is the latest […]
By Ayo Balogun, Lagos BALTIMORE, MD (AFRICAN EXAMINER) – Nigeria’s Telecoms giant MTN has refused to pay a heavy fine impose on it, instead the company is heading to court to challenge the powers of the regulatory body, Nigerian Communications Commission (NCC). A statement issued by the MTN corporate affairs office confirmed that the Telecoms giant […]
…Backs Buhari’s Anti- Corruption War Ayodele Afolabi, Abuja The Senate has asked the Federal Government (FG) to revive the age long moribund Ajaokuta Steel Development Company for the needed industrialization of the country. This is just as it backed President Muhammadu Buhari’s anti- corruption war and directed all Federal lawmakers to attend Tuesday’s joint session […]
By Niyi Adeyi Following allegations of complicity by members of the public, against the Central Bank of Nigeria (CBN), over misappropriation of arms money and recovered Late Head of State, Gen. Sanni Abacha’s loot, staffs of the apex Bank have stoutly absolved the establishment of blame in the gross misconduct. Some top officials of the […]
Ayodele Afolabi, Abuja The total debt profile of Nigeria presently stands at $64billion , the Director General of the Debt Management Office ( DMO), Dr Abraham Nwankwo has said Nwankwo who made the disclosure while making submission on the Nation’s debt profile before the Senate Committee on Foreign and Local Debts, however allayed the fears […]
Ayodele Afolabi, Abuja The House of Representatives on Thursday revisited the PENTASCOPE investigation of the 7th Assembly on the sales of NITEL and MTEL to a private investor, NATCOM as it mandated its committee on Telecommunications to conduct a comprehensive investigation into the sale. This followed a motion on the need for further scrutiny of […]
Partners Eventful to Host Food and Beverage Fair – FIESTA OF FLAVOURS 4th – 6th December at Harbour Point VI, Lagos In keeping with our ‘You First’ promise to Nigeria, FirstBank is supporting the entirety of the agriculture value chain, from food production to transportation, retailing and consumption. Food is the new oil, providing jobs, […]
Ayodele Afolabi, Abuja BALTIMORE, MD (AFRICAN EXAMINER) – The Consumer Protection Council (CPC) and 13 other Federal Government institutions have been identified and honoured as the most outstanding institutions in Nigeria for the 2014/2015 fiscal year. Other institutions honoured with the CPC at the Award Dinner held on Monday in Abuja are the Central Bank […]
A subsidiary of Dangote Group, Dangote Cement Company Plc has dispelled the petition against it, to the London Stock Exchange, over alleged “destabilizing acts” by the Okpella Community of Edo State, South South Nigeria. The Company in a rebuttal, a copy of which was made available to AFRICAN EXAMINER said contrary to the petition which […]
The Central Bank of Nigeria (CBN) has dispelled an online media report (not AFRICAN EXAMINER) purporting that nine Nigerian Banks, including Skye Bank are distressed. The CBN’s Director of Communications, Ibrahim Mu’azu in a statement, dismissed the report that the Bank and eight others were found to be suffering from liquidity stress, after a CBN […]
It was a Friday evening at the international wing of the Murtala Mohammed International Airport (MMIA) and 20 lucky customers of United Bank for Africa (UBA) Plc were eagerly waiting for their flight. These were the people who received their Western Union and MoneyGram transfer at UBA during the UBA Remittance Awoof Promo. Their destination […]
By Tajudeen Balogun Small and Medium enterprises (SMEs) have been certified as the alternative “engine room” for the Nigerian socio and economic development and transformation. This assertion was made by a Management Consultant and Marketing Research Solutions Expert, Dr. Jubril Salaudeen, while delivering a paper at the just concluded two day bi-annual National Convention of […]
By Ayo Balogun, Lagos BALTIMORE, MD (AFRICAN EXAMINER) – The Nigerian Communications Commission (NCC) says it has extended to Friday the deadline given to MTN to pay a N1.04 Trillion fine slammed on the company following its failure to deactivate 5.2 million unregistered SIM cards on its network. Mr. Tony Ojobo, NCC’s Director of Public […]
In a bid to compensate and enrich its teeming customers across the country, Dangote Cement will from today, Monday November 16, 2015 commence its biggest promo that will benefit 3, 783 customers. The Dangote Mega Million Dash (#DMMD) promo, which will be activated across the country will run for three months, with total benefits of […]
BALTIMORE, MD (AFRICAN EXAMINER) – The Central Bank of Nigeria has imposed a N4 billion fine on Skye Bank Plc for failing to render appropriate returns on accounts of some government institutions and agencies. This is contained in a statement by Skye Bank to the Nigerian Stock Exchange. The bank said the fine imposed by […]
The Central Bank of Nigeria on Tuesday faulted the regulatory decisions taken by the Financial Reporting Council of Nigeria against Stanbic IBTC Holdings Plc. The position of the CBN was contained in a letter written to the FRC dated November 2 and signed by the governor of the bank, Mr. Godwin Emefiele. The letter, with […]
Ayodele Afolabi, Abuja BALTIMORE, MD (AFRICAN EXAMINER) – The Consumer Protection Council, CPC, has issued a seven-day ultimatum to Volkswagen Nigeria to provide information on the status of its vehicles in relation to the emissions cheating software, which has reportedly affected 11 million cars worldwide. CPC, in a letter to the automaker dated October 26, […]
By Eric Ojo Export Development Canada (EDC), the Canadian official trade finance agency has expressed its commitment to making Nigeria the hub of its multi-sectoral long term investment plan in sub-Sahara Africa. EDC is Canada’s export credit agency, providing financial services for companies that buy from Canadian companies, or those that have Canadian supply and […]
Lagos, Nigeria— In line with a commitment to improve service delivery to clients and position the group at the forefront of the emerging merchant banking and asset management sector in Nigeria, the Investment Banking and Asset Management business of FBN Holdings Plc has announced the unveiling of a new identity for the group, FBNQuest. FBNQuest […]
