One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders. The lenders include, Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank

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The Central Bank of Nigeria should convert the country’s lower currency notes into coins to facilitate “highly repetitive” retail transactions, the Senate said Tuesday. The advice came after a Senator spoke on the implications of

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Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says investors would leave other countries to do business in Nigeria irrespective of seeming unstable business climate, because the country “has the best returns on any

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Chairman, Senate Committee on Customs and Excise Duties, Hope Uzodinma, has stated that its Committee has discovered high level manipulation of foreign exchange to the tune of N30 trillion purchase on behalf of importers by

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The Asset Management Corporation of Nigeria (AMCON) has confirmed the sale of one of Nigeria’s commercial banks, Keystone Bank. AMCON said the bank was sold to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited

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Aero Contractors Airline, which is under the management of the Asset Management Corporation of Nigeria (AMCON), has sacked about 900 workers representing 60 per cent. Letters of redundancy were issued to the affected employees during

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Three Nigerian banks and their foreign affiliates, yesterday, took over Etisalat Nigeria for allegedly failing to repay a loan of over N541bn it secured from the consortium in 2015. The Nigerian banks include Guaranty Trust

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The Nigerian Naira on Thursday March 2 crashed against the American Dollar, Pound Sterling and Euro at the parallel market. According to reports, the local currency has crashed to N458 per dollar as against the

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The Akwa Ibom state government has unveiled plans to commission the first pencil factory in Nigeria. The factory which has been producing toothpick, is a wholly-owned Akwa Ibom State government company and was floated in

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The Imo Transport Company Limited (ITC) in Owerri, was on Tuesday, February 28, shut down by the Federal Inland Revenue Service (FIRS), over a N42 million tax debt incurred between 2008 and 2016. According to

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