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FG to revive Rivers Onne port
Ports and Airports

FG to revive Rivers Onne port

The Minister of Transportation, Engr Mu’azu Sambo said the Federal Government is ready to reposition the Onne Port in Rivers State. According to Vanguard, Sambo made this disclosure yesterday during the 3-day fact-finding tour to ascertain why the port is not performing at maximum capacity. The Minister said “Part of the reason why I’m here […]

Emirates to resume Nigerian flights Sept 11
Aviation

Emirates to resume Nigerian flights Sept 11

About two weeks after announcing the suspension of Nigerian flights, Emirates Airlines made a u-turn by announcing the resumption of flights in the country from 11, September 2022. This development is coming on the heels of the released portion of the trapped $464 million revenue of the foreign airline by the Central Bank of Nigeria […]

Segun Arinze defends foreign models, voiceover artists' ban
Economy

Segun Arinze defends foreign models, voiceover artists’ ban

Veteran actor and President of the Association of Voice Over Artists, Segun Arinze, has defended the ban on foreign models and voice-over artists in Nigeria. Speaking during an interview with CNN on Wednesday, Arinze said that the ban will save forex for Nigeria media companies, adding that it will boost Nigeria’s homegrown talents in the […]

PoS transactions hit N8trn in 2022 - NIBSS
Banking

PoS transactions hit N8trn in 2022 – NIBSS

Recent data from the Nigeria Interbank Settlement System showed that the value of Point of Sale transactions in Nigeria has risen by 39 per cent to N8.03tn in 2022. According to The Punch, PoS transaction from July 2020 to Punch, PoS was estimated at N5.7trn, but between July 2021 and July 2022, it rose to […]

Why shareholders approved Union Bank UK sale
Banking

Why shareholders approved Union Bank UK sale

The recent sale of Union Bank UK, a subsidiary of Union Bank Plc to Fidelity Bank has been attributed to its poor performance in recent times. According to Nairametrics, it was revealed that shareholders approved the sale of the bank in their recent Extra Ordinary General Meeting because it has been reporting losses as against […]

NNPC to supply Dangote refinery 300k barrels daily
Oil and Gas

NNPC to supply Dangote refinery 300k barrels daily

The Nigeria National Petroleum Corporation Limited has secured a massive supply of about 300,000 crude oil per day to the Dangote refinery for the next 20 years. This was disclosed by the Group Chief Executive Officer, NNPC Ltd, Mele Kyari when he appeared at the 49th Session of the State House Ministerial Briefing organised by […]

Fidelity Bank to take over Union Bank UK
Banking

Fidelity Bank to buy Union Bank UK

Fidelity Bank Plc has revealed its plans to acquire a 100 per cent equity stake in Union Bank Plc in the United Kingdom. The Bank via a corporate filing on the Nigerian Exchange Limited on Tuesday said the Central Bank of Nigeria had issued ‘No Objection’ to its proposed acquisition of the bank which commenced […]

Risevest CEO Eke Urum quits over sexual abuse allegations
News

Risevest CEO Eke Urum quits over sexual abuse allegations

The founder and CEO of Nigeria-based stock investment app, Risevest – Eke Eleanya Urum, has stepped down from his role following “allegations of abuse of power and sexual impropriety.” Risevest made this known in a statement made available to AMBusiness on Tuesday, 30th of August 2022. According to the company, Urum “willingly agreed to step […]

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  • 30th August 2022
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Delta airline halts Lagos to New York flights
Aviation

Delta airline halts Lagos to New York flights

Delta Air Lines has announced the cancellation of its flights between New York-JFK and Lagos, effective October 4, 2022. The airline explained the route cancellation in a statement released this morning, saying that they needed to adjust to “the current demand environment.” It read, “Delta is suspending its non-stop service between New York-JFK and Lagos […]

Flights to South-South most expensive - NBS
Aviation

Jet A1: Airlines slash workforce, Dana considers resumption

As the crisis in Nigeria’s aviation industry persists, domestic airlines have continued to reduce their workforce. According to The PUNCH, It was also learned that plans were in the works to hire back some of the laid-off workers, but that this wouldn’t really happen until more planes from the affected airlines started flying again. Airline […]

IATA welcomes CBN's release of $265m to airlines
Aviation

IATA welcomes CBN’s release of $265m to airlines

The International Air Transport Association hailed the Central Bank of Nigeria for releasing 43% of trapped funds to international airlines. AM Business had reported that CBN last weekend released $265million, being part of the over $464 million belonging to the foreign airlines. Foreign airlines collect Naira for their tickets from customers and exchange the same […]

Dangote to slash sugar import by 40%
News

Dangote to slash sugar import by 40%

The management of Dangote Sugar Refinery Plc has said that the company is planning to cut the amount of sugar that is imported into the country by 40 per cent. This was disclosed by the President, Dangote Group, Aliko Dangote via a statement. He revealed that the company is embarking on Phase II of its […]

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