Business News

N38b theft: S’Court gives nod for trial of ex-Finbank directors

By Abimbola Fashakin, Lagos The Supreme Court has ruled that a Former Managing Director of Finbank Plc (now defunct), Okey Nwosu and three Executive Directors of them bank, Dayo Famoroti, Agnes U. Ebubedike and Danjuma Ocholi should be tried by the court on allegations bordering on theft of N38b.

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Sterling Bank introduces flexible work conditions for staff

Sterling Bank says it has come up with a policy that allows flexibility in work arrangement to promote work-life balance for its staff.

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Local companies float Nigeria’s soils specified fertiliser brands

By Musa Kajuru, Kaduna  As part of efforts to boost agricultural produce and ensure food security in the country, four indigenous companies have collaborated to roll out specified fertilizer brands for Nigerian soils. 

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Reps probe NBC, MTN, others over sale of bandwidth

The House of Representatives said it would investigate the process of Digital Broadcast switchover in the country, particularly the sale of bandwidth to MTN.

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Afreximbank commits $400m to promote African trade with Belarus

By Abimbola Fashakin, Lagos The African Export-Import Bank (Afreximbank) has stated that it has committed itself to a $400 million dollars to finance and promote trade between African countries and Belarus.

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Nigeria-China Business Council urges FG to ban importation of prepaid meters

The Nigeria-China Business Council has called on the Federal Government to ban the importation of prepaid meters to promote indigenous production of the device.

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CBN to clear backlog of forex demand

The Central Bank of Nigeria has announced plans to clear all existing backlog of Foreign Exchange (forex) demand in the country prior to take off of its flexible foreign exchange policy.

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Aftermath of new forex policy, stocks trading rises to 2016 high

By Abimbola Fashakin, Lagos The intention of the leadership of the Central Bank of Nigerian (CBN) to introduce a new foreign exchange appears to be impacting positively on the Nigerian Stock Exchange (NSE) as stocks hit a 2016 high.

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CBN unveils flexible exchange rate

 says reserve still robust By Abimbola Fashakin, Lagos The Governor of the Central Bank of Nigeria (CBN), Dr. Godwin Emefiele has reeled the detailed components of the flexible foreign exchange regime.

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Naira appreciates against Dollar

The Naira, on Friday, appreciated against the dollar at the parallel market, trading at N352, from N370 traded on Wednesday.

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