Business

Tankers at a NNPC depot

Fuel Subsidy Debt: Marketers receive N236bn promissory notes

“I can confirm to you government made good its promise to deliver promissory notes to marketers on Friday.”

Olusegun Obasanjo

Nigeria’s delay in ratifying African free trade agreement regrettable – Obasanjo

Maiden intra-Africa trade fair ends in Egypt.

PIC MIX: Access Bank - Diamond Bank

EXPLAINER: 10 things to know about Access Bank, Diamond Bank merger

Beginning 2011 and effectively in 2012, Access Bank took over the defunct Intercontinental Bank Plc.

Shell-and-Eni

MALABU: Eni, Shell knew of corrupt payments to Nigerian officials — Judge

The judge, Giusy Barbara, also berated Nigerian politicians and officials involved in the controversial deal.

Diamond Bank Headquarters Photo: Business News

Access Bank moves to buy Diamond Bank

The new deal, if approved by regulators, would see Access Bank acquire Diamond Bank.

NAICOM

Insurance coys settle N145bn claims in Q3 – NAICOM

The figure represents a 30 per cent increase compared with N110 billion paid in the same period of 2017.

President Buhari and state governors

Nigerian states to access World Bank’s $750mn grant – Official

She said the World Bank has already approved the grant.

Nigerian economy improved slightly in 2016, but remains in recession -- NBS [Photo Credit: naija247news.com]

Nigeria’ inflation rate rises to 11.28% in November – NBS

The CPI measures the average change in prices of goods and service.

Godwin Emefiele

TSA transactions value hit 13.53 trillion in 2017 — CBN

The report says the value of transactions recorded represented an increase of 27.01 per cent over 2016 figure.

Shell-and-Eni

Malabu Scandal: Nigeria files fresh $1.1bn suit against Shell, Eni

The Nigerian government is currently allowing the oil firms to process one of the fields in the block, called Zabazaba.

Broadband

Nigeria’s broadband penetration at 31% — NCC

The Federal government set a target of 30 per cent penetration by end of 2018.

NCC Headquarters used to illustrate the story.

MTN, CBN dispute will be over soon—NCC

The agency says the telecom firm is cooperating with the Nigerian authorities

MTN

Untold story of MTN’s ‘illicit’ repatriation of billions of dollars from Nigeria

The case highlights growing concerns about rising illicit financial flows in Africa.

Babatunde Fowler, FIRS Chairman

FIRS generates N5 trillion, targets N5.3trn by year end

The highest in FIRS history is N5.07 trillion generated in 2012.

MTN

MTN: Again, Court adjourns hearing on alleged illegal repatriation

The court had, earlier in the month, adjourned the hearing.

Afreximbank Building

First Intra-African Trade Fair Opens

The trade fair will last until 17 December, 2018 and is expected to attract about 70,000 visitors.

NBS

Nigeria’s capital importation decreases to $2.85 billion in Q3 – NBS

The figure represents a 48.21 per cent decrease compared to the second quarter.

Opec meeting

OPEC Cut: Nigeria’s daily oil production to drop to 1.7mn barrels

About 43,775 barrels would be cut from the nation’s oil production from January, 2019.

Fertiliser bags used to illustrate the story.

CBN bans use of Forex for fertiliser importation

One of the reasons for including fertiliser is to promote the activities of the Presidential Fertiliser Initiative (PFI).

Central bank of Nigeria (CBN)

CBN vows to clamp down on businesses, banks that abuse Forex on 42 restricted items

Banks that provide their platforms for such economic sabotage and abuses would be appropriately sanctioned.

Nigerian economy improved slightly in 2016, but remains in recession -- NBS [Photo Credit: naija247news.com]

Nigeria’s economy grows by 1.81% in Q3 – NBS

The recovery of Nigeria’s economy is set to become a dominant theme.

NNPC Towers

NNPC threatens court actionover ‘illegal’ withdrawal of $1.05bn

The NNPC says it believes it has the right to make such withdrawals.

Tankers at a NNPC depot

Why Nigerian govt owes ‘N800bn’ debt to fuel marketers, offers N236bn

The government offers to pay N236 billion to the marketers on or before December 14.

Tankers at a NNPC depot

N800bn Subsidy Arrears: Oil marketers deny agreement with Nigerian govt

The group says its ultimatum will expire on Monday.

OPEC

OPEC, non-OPEC oil producers agree to cut 1.2mn barrels of oil daily

Nigeria is to be affected by the oil cuts.