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CBN to review our $2.63bn penalty – Stanbic IBTC

CBN to review our $2.63bn penalty – Stanbic IBTC

Feyisayo Popoola The Central Bank of Nigeria has said it will review its decision on the $2.632bn regulatory fine it imposed on Stanbic IBTC Bank Plc on the basis of the Certificates of Capital Importation to MTN Nigeria Communications Limited. Stanbic IBTC Holdings Plc, in a statement to the Nigerian Stock Exchange on Monday, said […] …

Heritage Bank gets agric, SME awards

Heritage Bank gets agric, SME awards

Nike Popoola Heritage Bank Plc has been adjudged the “Best SME Bank Nigeria 2018” by Capital Finance International. The lender has also won the “Agriculture Bank of the Year 2018” at the Nigeria Agriculture Awards. In a statement, the bank said it was also awarded the “Best CIBN Chapter of the Year 2018,” in terms […] …

Questions to ask before starting a business

Questions to ask before starting a business

Ozioma Ubabukoh The statistics are a bit dire: 20 per cent of small businesses do not make it past their first year — and fully half will close their doors before their five-year anniversary. Nonetheless, eager entrepreneurs regularly take the plunge in order to follow their dreams of owning their own business. If you are […] …

Workers demand Enelamah’s sacking over poor welfare condition

Workers demand Enelamah’s sacking over poor welfare condition

Ifeanyi Onuba, Abuja Workers under the aegis of the Association of Senior Civil Servants of Nigeria on Monday called on President Muhammadu Buhari to immediately sack the Minister of Industry, Trade and Investment, Okechukwu Enelamah, for alleged poor welfare condition of workers in the ministry. They claimed during a protest held at the headquarters of […] …

Traders seek ECOWAS intervention as Ghana shuts 400 Nigerian businesses

Traders seek ECOWAS intervention as Ghana shuts 400 Nigerian businesses

Ifeanyi Onuba, Abuja The National Association of Nigerian Traders on Monday stormed the Economic Community of West African States’ secretariat located in Abuja to protest the alleged closure of shops belonging to Nigerians in Ghana. The protest, which began at about 9:30am, partially paralysed activities at the ECOWAS Secretariat. The protesters marched through the streets […] …

FG releases N42.68bn to public varsities, Nigerian Airways retirees

FG releases N42.68bn to public varsities, Nigerian Airways retirees

Ifeanyi Onuba and Olaleye Aluko The Federal Government has approved the payment of N42.68bn for the payment of retirement benefits to ex-workers of the liquidated Nigeria Airways Limited and the revitalisation of public universities in the country. Out of the amount, N20bn was released to the education sector as part of the government’s promise to […] …

Govt to sell N289bn assets to fund budget

Govt to sell N289bn assets to fund budget

Nike Popoola with agency report The Federal Government will offer 10 state-owned companies for sale to selected investors and the public in the fourth quarter to raise N289bn toward funding the 2018 budget, the Bureau of Public Enterprises said. According to a Bloomberg report on Monday, preparations are in the final stages to begin the […] …

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