News Reports

A Nestle factory

Nestle to examine “strategic options” for skin health unit

Earlier this year, the company increased its focus on food, drinks and nutritional health products.

9mobile

Why preferred bidder is yet to takeover 9mobile — NCC

Teleology Technology emerged the preferred bidder in February.

NNPC TOWERS

Group asks govt to intervene in fraudulent liquidation of Nigerian company by expatriates

The group says two Nigerian courts have ruled for the cessation of the liquidation.

Coca Cola [Photo credit: Wall Street Journal]

Coca-Cola considers buying off Nigerian firm

An official says the company is working with the Lagos government to remove waste from its waterways.

MTN

MTN: CBN promises ‘equitable resolution’ over sanctions imposed on telecom firm, banks

The central bank had on August 29 ordered MTN and the four banks to bring $8.1 billion back into Nigeria.

Nigerian Aviation Minister, Hadi Sirika at the launch of Nigeria Air

Why new national carrier, Nigeria Air, was suspended indefinitely

The airline was planned to commence operation at the end of the year.

Keystone Bank sued for alleged non-remittance of $17 million to TSA

The hearing of the case has been fixed for November 6.

Central Bank of Nigeria (CBN)

Nigerian govt sells stake in security printing firm to CBN for N17 billion

The government will retain only 10.1 per cent equity, after divesting 21 per cent.

NNPC TOWERS

AKK Gas Pipeline Project: Consortium battles NNPC over attempt to hijack contract

NNPC wants the Federal Executive Council to approve termination of the Lot 2 contract.

Shell

Malabu Scandal: Shell, Eni await fate as Italian court rules on $1.1 billion ‘bribe’

Shell and Eni paid the money through the Nigerian government to controversial businessmen.

LADOL Managing Director, Amy Jadesimi

‘How global turmoil can help businesses flourish’

The managing director of the Lagos Deep Offshore Logistics Base, LADOL, says the world has dramatically improved, while many think that it’s getting worse.

Kyari-Abba-Bukar

Nigerian Economic Summit Group chairman resigns

An acting chairman has been named.

MTN Nigeria office

NLC urges MTN to pay $10bn fine

Ayuba Wabba, NLC president, made the call in a statement on Sunday in Abuja.

A market used to illustrate the story

After 18-month decline, Nigeria inflation rate rises

Since it exited recession in 2017, the nation has recorded consecutive decline in inflation.

nigerian_stock_exchange

Trading on NSE closes on positive note, market indices up 0.95%

The All-Share Index rose by 306.36 points to close at 32,327.59 compared to the 32,022.23 posted on Thursday.

Kenya on map

IMF pledges support to Kenya as $990mn standby deal expires

Kenya had secured a six-month extension in March on the $989.8 million.

nigerian_stock_exchange

Dangote Cement, Nestle lead losers’ chart on NSE

Seplat led the gainers’ table during the day, gaining N3.70 to close at N606.70 per share.

PENCOM

PenCom recovers N14.76 billion outstanding contributions, penalties

The figure comprises N7.53 billion principal contributions and N7.23 billion as penalties respectively.

Chairman of the Federation Account Allocation Committee (FAAC) and Minister of Finance, Mrs. Kemi Adeosun; Director of Home Finance in the Federal Ministry of Finance, Mrs. Olubunmi Siyanbola and the Director of Revenue, Budget Office of the Federation, Mr. Sulaiman Nasidi Tahir, during the FAAC meeting held at the Auditorium of the Federal Ministry of Finance on Thursday, 30th August, 2018.

FAAC disburses N3.946trn in 6 months – NEITI

Delta State received the highest allocation of N101.19 billion in the six-month followed by Akwa Ibom with N100.2 billion.

Babatunde Fowler, FIRS Chairman

FIRS to go after bank accounts of billionaire tax defaulters

Mr Fowler lambasts businesses who collect VAT but fail to remit to government coffers.

Minister of Finance, Kemi Adeosun

Controversy as YouWiN Connect trainees accuse govt of ‘deceit’

Several months after training, participants in the youth enterprise scheme wait for a word on the promise on funding for start-up businesses.

General Electric and Arco Group Plc. [PHOTO CREDIT: Today.ng]

General Electric, Arco tax controversy continues to generate ripples

The Nigerian Arco says GE deducted more than the legal withholding tax from its contract fee.

MTN Nigeria office

Risk analysis firm, Moody’s, may ‘downgrade’ MTN amidst fresh Nigeria fines

On Tuesday, the Nigerian government slammed the firm with a $2 billion tax demand.

Diamond Bank Headquarters Photo: Business News

CBN debits banks N5 billion over MTN funds repatriation

The banks allegedly helped MTN to illegally transfer funds abroad.

Bank queue

Nigerians accuse banks of illicit, excessive charges; demand reforms

Nigerian banks are once again being called out for their questionable charges.