BREAKING: Food prices, others have dropped - NBS

The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate dropped to 17.93% in May 2021 from 18.12% recorded in April 2021. NBS stated this in its monthly Consumer Price Index report released on Tuesday. The drop in the headline inflation in May was the second consecutive month in 2021. The...... read more

Dangote cement shareholders smile to the bank, as price hits the sky *Share N272.6billion

Shareholders of Dangote Cement Plc on Wednesday commended the Management of the company for an impressive performance despite the economic challenges in the year under review, even as Nigerians continue to bemoan the skyrocketing cost of the commodity in the open market. Unanimously, the shareholders approved N272.6 billion as dividend, translating to...... read more

BREAKING - Hredsmen attacks: FG okays ranching take off, revival of forest reserves

President Muhammadu Buhari has approved ranching and revival of forest reserves as ways of bringing lasting solutions to the lingering herdsmen attacks in parts of the country.   Senior Special Assistant to the President on Media and Publicity Mr Garba Shehu, who disclosed this in a statement in Abuja, said the...... read more

BREAKING: No plans to increase fuel price in June - FG

The federal government has allayed the fear of Nigerians who are apprehensive that there would be increase in the price of fuel.  A statement signed Friday in Abuja by the Minister of State for Petroleum, Timipre Sylva, insisted that despite the burden continuos subsidy was having in its finances, there will...... read more

El-Rufai's threat: Fuel scarcity looms as NUPENG move to down tools

Nigerians may face more hard times if the National Union of Petroleum and Natural Gas workers (NUPENG) carry out its threat to embark on nationwide strike.   The union has already informed that should the federal government fails to caution Kaduna State Governor, Nasir El-Rufai, who has declared the leadership of...... read more

Breaking: FG receives £4.2m Ibori loot from UK

The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, has revealed that British government has formally paid the £4, 214, 017.66 looted funds recovered from family members and associates of former Delta State Governor, James Ibori, into an account designated for that purpose by the Federal Government. The AGF...... read more

Don’t blame us for sky-high cost of cement – Dangote *As price hits N5,000 per bag

With a bag of cement climbing to an all-time high of N4,850 in Lagos markets, Dangote Cement Plc has exculpated itself from blame for the skyrocketing cost, a product the company is the major producer in Nigeria and some African countries, saying external factors were responsible. The company, said however that...... read more

Labour strike plunges Kaduna into darkness as electricity workers join industrial action

The industrial action embarked upon by the electricity workers in support of the Nigerian Labour Congress (NLC), has plunged into darkness.      The electricity workers of Transmission Company of Nigeria (TCN) under the aegis of Nigeria Union of Electricity Employees (NUEE), embarked on the strike in accordance with the instruction of...... read more

Polaris Bank assets hits N1.2trillion, Profit Before Tax N28.9bn in 2020 financial year

Polaris Bank Limited has released its full-year audited financial results for the year ended December 2020 posting a Profit Before Tax (PBT) of N28.9billion. The results which show the Bank’s second year performance scorecard after two years of operation, have further consolidated the Bank’s position as focused on the path of...... read more

BREAKING: 48 hours after, banks-MTN row ends *Network returns to USSD channel

After 48 hours of disconnecting MTN customers from banking channels including the Unstructured Supplementary Service Data (USSD) and banking applications, commercial banks on Sunday reconnected MTN customers to their channels, The PUNCH is reporting. According to the report, the truce was sequel to the intervention of the Minister of Communications and Digital Economy,...... read more

Bank loses N193billion it mistakenly transferred to customers

Citibank, an American multinational investment bank, has lost about $500 million (N194billion) it mistakenly transferred to a group of companies that loaned money to embattled cosmetics firm Revlon. Being Revlon’s loan agent, the bank was meant to transfer a $7.8 million interest payment to the cosmetic company’s lenders. But in error,...... read more

Obi offers success tips to United Nigeria Airlines boss *Hails arrival of new airline

Former Governor of Anambra State, Mr Peter Obi, has congratulated the founder of United Nigeria Airlines, Obiora Okonkwo, following the recent successful launch of operations by the airlines. United Nigeria Airlines had, on February 12, 2021, made its inaugural flight from the domestic wing of Murtala Muhammed International Airport, Lagos to...... read more

FCMB Asset Management Limited assigned Credit rating of BBB+(IM) by Agusto & Co.

FCMB Asset Management Ltd (FCMBAM), the Asset Management arm of FCMB Group Plc, has been assigned an Investment Manager rating of BBB+(IM) by Agusto & Co., a foremost pan-African rating agency. FCMB Group Plc is one of Nigeria’s leading financial institutions and owners First City Monument Bank (FCMB), earned the new...... read more

Showers of praises as Polaris Bank pays out US dollar to customers

A cross-section of customers have commended Polaris Bank for its payment of US dollars to beneficiaries of money transfer in line with Central Bank of Nigeria's (CBN) recent payout policy directive.  The Bank noted, shortly after it sent out notices to customers that beneficiaries of money transfer who received their remittance...... read more

BREAKING: How Dangote lost $900million in one day *Remains African richest man

It was not the best of tales on Friday, last week for Africa’s richest man, Aliko Dangote, the day he reportedly lost a whopping $900million, after his company, Dangote Industries Limited, emerged the biggest loser at the end of trading on the Nigerian Stock Exchange. Bloomberg Billionaires Index, reports that his...... read more

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