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Business & Finance

Minimum Wage: FG, Organised Labour reconvene today

The Federal Government says the meeting with the Organised Labour to prevent the threat of national industrial action over non transmission of the New National Minimum Wage Bill to the National Assembly will reconvene by 1p.m on Tuesday. Sen. Chris Ngige, Minister of Labour and Employment, said this while speaking with newsmen at the end of a closed door meeting ... Read More »

Nigeria lost $2.8bn revenue in 2018 — Report

The United Nations say Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, mainly due to oil-related crimes. This is according to a new ‘Report by the Secretary-General on the activities of the United Nations Office for West Africa and the Sahel (UNOWAS)’ on Monday in New York. The report, which covered from July 1, 2018 to Dec. 31, ... Read More »

AMCON expects N740bn asset recoveries from AMPs

Managing director, Asset Management Corporation of Nigeria, AMCON, Ahmed Kuru, has again pledged the full support of AMCON to its Asset Management Partners, AMPs, in the pursuit to recover the 20 per cent or N740billion of the total Eligible Bank Assets, EBAs, of AMCON portfolio of N3.7 trillion that are out in the hands of obligors. He made the declaration in Lagos at ... Read More »

Tony Elumelu Foundation to open applications for entrepreneurship programme 2019

  The Tony Elumelu Foundation will begin accepting applications for the fifth cycle of its Entrepreneurship Programme on the 1st of January 2019. 1,000 selected applicants will join the current 4,470 beneficiaries of the Programme.   Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurial catalyst of its kind – has empowered 4,470 African entrepreneurs, with seed capital ... Read More »

CBN injects $210m into forex market

In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, injected the sum of $210 million in the inter-bank foreign exchange market. Figures obtained from the CBN indicate that the authorized dealers in the wholesale segment of the market received the sum of $100 million while the Small and Medium Enterprises (SMEs) and ... Read More »

Access Bank may soon acquire Diamond Bank

  Access Bank Plc may soon acquire Diamond Bank. This is coming barely a couple of months after the regulatory agencies staved off the collapse of Skye Bank and renamed it Polaris Bank. Reports have it that the fusion is set for the first quarter of next year. Both financial institutions, according to the paper, have agreed on broad terms ... Read More »

Retirees get N679.68bn pensions in 11 years – PenCom

A total of N679bn has been paid as accrued pension rights to retirees from 2007 to September this year, the National Pension Commission has stated. In its update on the status of accrued right payment, PenCom said the money for the 2018 budget was released on September 27, 2018, which was used to make payments in October 2018. The payments, ... Read More »

Dangote initiates World Puff-puff Day, targets Guinness record

The President, Dangote Group, Aliko Dangote, has initiated a new project aimed at celebrating hardworking homemakers. The project, tagged the World Puff-puff Day, is to be celebrated on October 27 every year, according to Dangote Flour Mills. Two tonnes (40 bags of 50-kilogramme) flour were used at the maiden edition of the event, which held on Saturday, with 30,000 pieces of puff-puff produced. The ... Read More »