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Strategic Capital Investment
Banking

Polaris Bank announces new board

Strategic Capital Investment has appointed a new board of directors, just 24 hours after announcing the acquisition of Polaris Bank. The newly appointed board members will be in charge of navigating the bank’s affairs as it enters a new stage of growth. According to a corporate disclosure issued by the bank on Friday afternoon, the […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

Why we lost our most-valued crude oil customers – FG

  The Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, has revealed why the country lost its most valued crude oil customers. FG on Thursday revealed that Nigeria lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market. […]

Reps stops CBNs sale of Polaris Bank
Banking

CBN sells Polaris Bank N50bn

Strategic Capital Investment Limited has completed the acquisition of the entire Polaris Bank shares for N50 billion. The Central Bank of Nigeria which announced the sale of the bank in a press release on its website on Thursday said it worked in partnership with AMCON to complete the sale. “The Central Bank of Nigeria (CBN) […]

Telecommunications

Tariff hike: Telcos fume as FG orders reversal

  The decision of the Federal Government to order a reversal of the recent 10 per cent tarrif hike has left telecommunication companies fuming. By implication, Telcos like MTN Nigeria and Airtel, who had previously raised the cost of their data bundles by roughly 10%, will now need to go back to their previous prices […]

Kogi sues Dangote over Obajana ownership
News

Kogi sues Dangote over Obajana ownership

The Kogi State State Government has taken legal action against Dangote Industries Limited, the parent company of Dangote Cement Plc, regarding the ownership of the Obajana cement plant, a town in the Oworo region of the Lokoja Local Government Area. According to The PUNCH, the complaint was filed in the Kogi State High Court, Lokoja […]

AfDB, FCMB to boost SMEs, women enterprisea with $50m
News

AfDB, FCMB to boost SMEs, women enterprisea with $50m

  The African Development Bank and First City Monument Bank has reached an agreement to boost small and medium-sized enterprises and women-empowered businesses with a $50 million Line of Credit Agreement. According to The Nation, the proceeds of the line of credit will be used by FCMB to finance SMEs and WEBs in Nigeria’s agribusiness, […]

Why we withdrew interest in Kogi land - BUA
News

Why we withdrew interest in Kogi land – BUA

BUA Group has disclosed why the company is withdrawing its interest in the 50,000 hectares of land in Kogi State. According to The PUNCH, the company said it made the decision over the failure of the land to meet its intended purposes. It would also be recalled that the state Assembly threatened to revoke the […]

How more taxes'll reduce debt load - FG
Economy

How more taxes’ll reduce debt load – FG

The Federal Government said the collection of more taxes and is diversion to the right fiscal sectors of the economy will help curtail excessive external borrowing and lessen the high debt burden in Nigeria. According to The Punch, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said this at a tax expenditure workshop […]

Terrorism: US slams $778m fine on Lafarge
News

Terrorism: US slams $778m fine on Lafarge

The United States Government has slammed a heavy fine around the tune of $778m on French cement giant Lafarge. According to the US Justice Department said on Tuesday, Lafarge had admitted to providing material support to Islamic State and other terror groups during the Syrian civil war. The Justice Department has called Lafarge’s decision to […]

Kogi to revoke BUA's CofO over unpaid land
Business News

Kogi to revoke BUA’s CofO over unpaid land

Kogi House of Assembly threatened to revoke the Certificate of Occupancy of the cement manufacturing firm, BUA Group, over unpaid 50,000 hectares of land it acquired 10 years ago. According to the News Agency of Nigeria, BUA Group on Monday was later summoned by the lawmakers at a public hearing of one of its ad-hoc […]

Flood: Gas scarcity looms as NLNG stops operations
News

Flood: Gas scarcity looms as NLNG stops operations

Gas scarcity is expected to hit across the 36 States of the Federation as the Nigeria Liquefied and Natural Gas company has shut down its operations because of the widespread flooding that has disrupted supply. According to The PUNCH, this was disclosed by the spokesperson of the company, Andy Odeh who declared a Force majeure […]

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