Business articles

Nigerian govt takes ownership of funds held in bank accounts not linked to BVNs

Nigerian govt takes ownership of funds held in bank accounts not linked to BVNs

The Abuja Division of the Federal High Court has granted a request by Attorney General of the Federation, Abubakar Malami, for a temporary forfeiture of all funds held in bank accounts not linked to BVNs — and whose ownership could not be absolutely identified. Also to be seized by the Nigerian government are funds held

Abuja Chamber of Commerce commends TSTv over launch of digital service

The commercial launch of Telecom Satellite Television (TSTv) in Nigeria has excited the Abuja Chamber of Commerce and Industry (ACCI) who describe the initiative as one that will further bring information, innovative ideas, goods and services closer to the generality of Nigerians. A statement from the Chamber said its incoming President, Prince Adetokunbo Kayode, CON,

Buhari asked us to focus on northern Nigeria — World Bank

The President of the World Bank Group, Jim Yong Kim, said on Thursday that the bank had concentrated on the northern region of Nigeria in line with President Muhammadu Buhari’s request. Kim and the Managing Director, International Monetary Fund, Christine Lagarde, who spoke at separate press conferences in Washington DC, United States, also advised Buhari

Corruption Allegation: Tanker drivers throw weight behind NNPC GMD

The Petroleum Tanker Drivers’ branch  of the National Union of Petroleum and Natural Gas, (NUPENG) has described the ongoing supremacy battle between the Minister of  State for Petroleum, Ibe Kachikwu and the Group Managing Director of the  Nigerian National Petroleum Corporation, (NNPC) Dr Maikanti Baru, as diversionary and deeply political, and therefore called for caution.

Illegal Funding of FG: The key question CBN Governor, Emefiele, failed to answer

In apparent response to an exclusive report by PREMIUM TIMES, the Governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday scrambled to defend his bank’s huge funding of the federal government. This newspaper had published a report on Monday detailing the CBN’s massive financing of the federal government in clear contravention of the

Nigerian govt. moves to sanitise capital market; reconstitutes Investment & Securities Tribunal

The Nigerian government said on Tuesday that the reconstitution of the Investment and Securities Tribunal, IST was a practical step to sanitise the capital market, restore investors’ confidence and reposition the country’s economy. The Minister of Finance, Kemi Adeosun, said the delay in reconstituting the tribunal was so that the government could carefully overhaul the

Partnership: SEC bans Ogiemwonyi for life, operating license withdrawn

The Securities and Exchange Commission (SEC) has banned the Managing Director of Partnership Investment Company Plc and Partnership Securities Limited, Mr. Victor Ogiemwonyi for life from holding directorship positions in any public company in Nigeria for his unprofessional conduct in the Nigerian capital market. The SEC has also withdrawn the operating license of the companies.

Nigeria’s economic, industrial future depends on Stainless Steel – SSDAN

The world is moving away from carbon steel to stainless steel and Nigeria can’t be an exception. This was the position of the Stainless Steel Development Association of Nigeria (SSDAN) during the recently concluded first meeting of the National Council on Mines and Minerals Resources Development (NCMMRD). Speaking at the event which held in Abuja,

Buhari meets Adeosun, Emefiele, says he’s happy with state of the economy

President Muhammadu Buhari is delighted over the improving state of the economy, Femi Adesina, his spokesman, has said. In a statement on Monday, Adesina said Buhari spent about two hours receiving briefing from Udoma Udo Udoma, minister of national budget and planning; Kemi Adeosun, minister of finance, and Godwin Emefiele, governor of Central Bank of

Sallah: Ram sellers lament low patronage

Less than six days to Eid-el-Kabir celebration, ram dealers in Maiduguri are lamenting low patronage by customers. Eid-el-Kabir celebration is marked on the 10th day of the 12th month of Islamic calendar known as Zul-Hajj and entailed the sacrificing of rams by Muslims. A check by the News Agency of Nigeria at Kasuwar Shanu and