LAGOS, SEPTEMBER 18, 2018 In response to the recent regulatory actions by the CBN against a number of Banks and MTN, The Convention on Business Integrity, ActionAid, Lagos Chamber of Commerce & Industry, Nigerian Economic Summit Group and Business Day Newspapers have come together, under the rubric of ‘Regulatory Conversations’ to foster private public dialogue […]
The luxury retailer Henri Bendel, which opened its doors in New York’s Greenwich Village at the end of the 19th century, is closing. Read more
The National Bureau of Statistics on Friday released the Consumer Price Index, which measures inflation, with the rate rising from 11.14 per cent in July to 11.23 per cent in August. Read more
The Association of Nigerian Electricity Distributors (ANED) has chided the Nigerian Electricity Regulatory Commission (NERC) for discouraging its activities, with a total of $1.4 billion investment of the Distribution Companies (DisCos). Read more
The Association of Nigerian Electricity Distributors (ANED) yesterday told the Nigeria Electricity Regulatory Commission (NERC ), that it has the legal backing to speak for the Electricity Distrubution Companies (DisCos) that invested $1.4 billion in the power assets. Read more
Following massive sell pressure on the equity market yesterday, the local bourse recorded its biggest loss in eight months, as investors lose whooping N423 billion in one day. Read more
The Central Bank of Nigeria (CBN) has disclosed that over N688.35 billion has been recorded as the value of moveable assets registered on the National Collateral Registry platform since inception. Read more
The Nigerian Communications Commission [NCC] is mediating in the crisis between the MTN Nigeria and the Central Bank of Nigeria (CBN), and between the company and the office of the Attorney General of the Federation (AGF). Read More
The Nigerian Communications Commission, NCC, has indicated that Globacom had the highest new internet subscriber acquisition record in the month of July as it gained 66 per cent of the industry’s new data users. Read more
MTN Nigeria Monday sued the Central Bank of Nigeria, CBN and the Attorney General of the Federation, AGF over allegations of improper repatriation of about $8.1billion and unpaid taxes of $2.0 billion the duo levied against it. Read more
THE production of first oil from Total’s $16 billion Egina project is being threatened as the management of Lagos Deep Offshore Logistics, LADOL, banished Samsung Heavy Industries, SHI, from its dockyard. Read More
The Central Bank of Nigeria has released the exposure draft for the regulatory requirements for non-bank merchants acquiring in Nigeria in furtherance of its mandate of enhancing the development of the electronic payment system in the country. Read More
The operational and commercial performances of Nigeria’s power sector have continued to worry all stakeholders in the value chain. Recent developments are also not allaying the fears of Nigerians in terms of the industry’s sustainability. STANLEY OPARA examines the misfortunes of the industry and the need to address them for national good. Read more
Nigeria’s aviation regulatory body would deliver a transport licence and an operating certificate to the new national carrier, Nigeria Air, in the next 90 days. Read more
The Central Bank of Nigeria (CBN) has insisted that MTN Nigeria and the four sanctioned over illegal banks repatriation of funds will be punished, Daily Trust learnt in Abuja yesterday. Read more
The MTN Group [JSE:MTN] may receive a naira-denominated refund if Africa’s biggest wireless carrierreturns the $8.1bn that Nigeria says was illegally taken out of the country. Read more
The Nigerian Civil Aviation Authority (NCAA), has generated N15.27billion as revenue from the Ticket Sales Charge (TSC) in the past eight months.
ABUJA/LAGOS, Sept 1 – MTN Group’s plan to list its Nigerian unit in an initial public offering this year is under threat after the central bank ordered the South African telecoms giant to hand over $8.1 billion allegedly sent abroad illegally, sources said.
he Central Bank of Nigeria has slammed fines totalling over N5 billion on four banks “for breaching Nigeria’s forex regulations” and asked MTN Nigeria Communications Limited to refund $8.134 billion. All four banks – Standard Chartered, Stanbic IBTC, Citibank and Diamond Bank – were fined with regards to capital repatriation by telecoms giant MTN. Read […]
LAGOS—The $3.3 billion Floating Production Storage Offloading (FPSO) unit that sailed away in the early hours of Sunday from Lagos to the 200,000 barrels per day Egina oilfield will arrive at the offshore field this week, investigation has revealed. Read more