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Business · Premium Times ·Daar Communications’ majority owner alleges share manipulation at CAC
The majority owner of Daar Communications has accused the Corporate Affairs Commission of overseeing or allowing the manipulation of company shares. These allegations focus on irregularities within the registry of the media organization, leading to concerns over the integrity of corporate records and ownership stakes within the prominent Nigerian broadcasting firm.
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Business · Channels TV ·Powell To Bow Out As Fed Chief But Stay As A Governor On Legal Pressure
Jerome Powell will resign from his role as the Federal Reserve Chairman but will continue to serve as a member of the Board of Governors. This development comes amid mounting legal pressure, representing a major change in the leadership structure of the United States central banking system.
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Business · PM News ·Opeifa Unveils New Cleaning SOP as NRC Targets Safer, Cleaner Train Services
The Nigerian Railway Corporation has introduced a new Standard Operating Procedure for cleaning its train services and facilities. Facilitated by Kayode Opeifa, the initiative aims to improve hygiene and safety standards across the national rail network to provide a more conducive and secure environment for commuters.
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Business · PM News ·
Celebrating The Monumental Contributions of Mike Adenuga Jr @73
Nigerian businessman and founder of Globacom, Mike Adenuga Jr, is being commemorated for his significant economic and social contributions as he reaches the age of seventy-three. The recognition focuses on his leadership in the telecommunications and energy sectors through his various corporate ventures and philanthropic initiatives.
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Business · PM News ·
Lafarge Africa Profit Doubles to N97.95bn on Strong Q1 Performance
Lafarge Africa reported a significant increase in its financial performance, with profits doubling to N97.95 billion. The growth is attributed to strong results during the first quarter of the year, reflecting a substantial improvement in the company's earnings compared to previous reporting periods.
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Business · BusinessDay ·Naira ends week-long loss streak as liquidity improves
The Nigerian Naira has halted its week-long depreciation streak following an increase in market liquidity. The currency's recovery marks a significant shift in the foreign exchange market after consecutive days of losses, as improved dollar availability contributes to the stabilization of the exchange rate during recent trading sessions.
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Business · BusinessDay ·BUA Foods grows profit by 14% despite revenue drop
BUA Foods has recorded a 14 percent increase in profit despite experiencing a decline in revenue. The Nigerian food processing company maintained profitability through the period, demonstrating resilience in its financial performance as reported by BusinessDay. These results highlight the firm's ability to manage costs effectively amidst fluctuating income streams.
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Business · Vanguard ·10 things to expect after UAE exits OPEC
Following the departure of the United Arab Emirates from the Organization of the Petroleum Exporting Countries, several shifts in global oil markets are anticipated. These include changes in production quotas, price volatility, and altered geopolitical relations among major energy-producing nations. The exit marks a significant transition for the international oil industry and its regulatory frameworks.
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Business · PM News ·
Subsidy removal not a Windfall – FG
The Federal Government stated that the savings generated from the removal of fuel subsidies do not represent an unexpected financial windfall. Officials explained that the policy is intended to stabilize the national economy and manage fiscal resources more effectively rather than providing a large surplus of extra funds.
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Business · Premium Times ·Re: Emir Sanusi: Africa, Nigeria is not over borrowed but under-financed, By ‘Tope Fasua
Economist Tope Fasua examines perspectives attributed to Emir Sanusi concerning the financial status of Nigeria and the African continent. The discourse suggests that these regions face a deficit in adequate financing rather than an unsustainable debt burden. The analysis focuses on macroeconomic structures and the necessity for increased capital inflow to drive development.
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Business · PM News ·
Nigeria’s Mining Boom: Revenue jumps to ₦68bn in one year
Nigeria's mining sector recorded a significant increase in revenue, reaching ₦68 billion within a single year. This growth highlights the expanding performance of the solid minerals industry as the country seeks to diversify its economic base away from oil dependency and improve national fiscal earnings.
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Business · Leadership News ·
Private Sector Growth Slips As PMI Contracts To 49.4
Nigerian private sector growth has experienced a decline as the Purchasing Managers' Index dropped to 49.4. This contraction indicates a reduction in business activities across the country, marking a shift from previous growth trends. Economic indicators suggest that various sectors are facing challenges that have slowed down overall industrial and commercial performance.
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Business · Leadership News ·
Mining Sector Revenue Hits N68bn
Nigeria's mining sector has generated a total revenue of N68 billion, reflecting the industry's growing contribution to the national economy. This development follows ongoing government efforts to diversify revenue streams and enhance the regulatory framework within the solid minerals sector to drive sustainable financial growth.
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Business · The Punch ·Osun court summons CBN over police N100.1m judgment debt
An Osun State High Court has summoned the Central Bank of Nigeria regarding a N100.1 million judgment debt owed by the Nigeria Police Force. The legal directive follows a court ruling against the police, requiring the apex bank to provide information or facilitate the settlement of the outstanding financial obligation.
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Business · The Punch ·
Edo miners, NSCDC disagree over harassment, extortion claim
Miners in Edo State have raised allegations of harassment and extortion against the Nigeria Security and Civil Defence Corps. The security agency has dismissed these claims, leading to a public disagreement between the two groups. The dispute highlights ongoing tensions regarding the regulation and oversight of mining activities within the region.
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Business · Nairametrics ·
CAC denies manipulation of DAAR Communications records after cyber attack
The Corporate Affairs Commission has dismissed allegations of record manipulation concerning DAAR Communications after a cyber attack. The agency maintains that its database remained secure and that no unauthorized alterations were made to the company's filing information, countering claims that the digital breach led to the tampering of official records.
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Business · Premium Times ·Finding Nigeria’s missing link between growth and development, By Dipo Baruwa
Dipo Baruwa examines the discrepancy between Nigeria's economic growth figures and its actual developmental outcomes. The analysis explores why statistical increases in the gross domestic product often fail to improve the living conditions of citizens, highlighting the need for systemic changes to bridge this persistent gap in the national economy.
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Business · ThisDay ·
NCAN Leadership Crisis Deepens as Adesokan Claims Legitimacy Amid Policy Rift
The leadership dispute within the National Cashew Association of Nigeria has intensified as Adesokan asserts legal authority over the organization. This power struggle coincides with significant policy disagreements among members, further destabilizing the association's governance and complicating its strategic direction amidst ongoing internal friction regarding legitimate representation.
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Business · Leadership News ·
Foreign Currency Tax Revenues Jump 27% To N6.33trn
Nigeria's foreign currency tax revenues increased by 27 percent to reach N6.33 trillion. This growth reflects a significant rise in tax collection from foreign exchange-denominated sources, providing a boost to the government's fiscal accounts and indicating shifts in the national revenue generation landscape.
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Business · ThisDay ·
Amid Tax Law Overhaul, CITN Tasks New Members on Stronger Fiscal Reform Compliance
The Chartered Institute of Taxation of Nigeria has urged its newly inducted members to prioritize adherence to fiscal reform measures amid the ongoing overhaul of national tax laws. This initiative seeks to enhance tax compliance and support the government's efforts to modernize the country's fiscal framework through professional oversight and expertise.
Nigerian News
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