Magu briefs Reps on recovery of $202m NIA fund

Aminu Jaji, chairman, House Committee on National Security and Intelligence on Wednesday confirmed that total sum of $289,202,382 security allocation given to National Intelligence Agency (NIA) by the past administration is yet to be recovered or totally accounted for by relevant security agencies. Recall that the sum of $43 million was recovered by the EFCC… View Article

The post Magu briefs Reps on recovery of $202m NIA fund appeared first on BusinessDay : News you can trust.

Kingsley Moghalu outlines reform plans for Nigeria

If elected president at the 2019 polls, Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), will replace the current government’s N500 billion social intervention programme for a similar-sized venture capital fund that will finance small businesses and create jobs. Moghalu, 55, will also clear the way for more private investment… View Article

The post Kingsley Moghalu outlines reform plans for Nigeria appeared first on BusinessDay : News you can trust.

Africa Prudential’s profit margin surges on income from treasury bills

Africa Prudential Plc has turned each Naira invested in revenue into higher profit, thanks to income from treasury bills as the company is optimistic an improving economy will bolster future earnings. An increase at the top lines (sales) flows through to the bottom line (profit), which paved the way for the Registrar to reward the… View Article

The post Africa Prudential’s profit margin surges on income from treasury bills appeared first on BusinessDay : News you can trust.

Again, CBN warns on virtual currencies

The Central Bank of Nigeria (CBN) has again cautioned Nigerians to be wary of investments in cryptocurrency, stressing that virtual currencies are not legal tender in Nigeria. A press release issued by the Bank on Wednesday, February 28, 2018, reiterated that cryptocurrencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, among others and Exchanges such… View Article

The post Again, CBN warns on virtual currencies appeared first on BusinessDay : News you can trust.

Reps Committee begin probe of N350bn Solid Mineral Fund

The Ad-hoc committee investigating the utilization of N350 billion natural resources fund for the development of the solid mineral sector has flagged off its investigate public hearing. Kamale Adamu, chairman of the Committee who spoke in Abuja, explained that the committee resolved to invite Kemi Adeosun, Ministers of Finance and her counterpart, Kayode Fayemi, Minister… View Article

The post Reps Committee begin probe of N350bn Solid Mineral Fund appeared first on BusinessDay : News you can trust.

Army say joint efforts from border countries will secure Lake Chad basin

The Nigerian Army said that joint efforts from countries on the borders of the Lake Chad Basin (LCB) would ensure security and route out common enemy – Boko Haram. Maj.-Gen. Leo Irabor, the Multi-National Joint Task Force Commander, said this on Wednesday at the on-going International Conference on Lake Chad holding from Feb. 26 to… View Article

The post Army say joint efforts from border countries will secure Lake Chad basin appeared first on BusinessDay : News you can trust.

UPDATE 1: APC endorses Buhari for second term, as Moghalu declares

The national executive committee of Nigeria’s ruling party the All Progressives Congress (APC) has endorsed President Muhammadu Buhari to seek a second term in an election next year, two senior party sources told Reuters on Wednesday. Meanwhile, Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria has declared his intention to run for… View Article

The post UPDATE 1: APC endorses Buhari for second term, as Moghalu declares appeared first on BusinessDay : News you can trust.

Seplat shares to get boost from strong Q4 results say analysts

Nigeria’s SEPLAT Petroleum company today announced strong fourth quarter results for 2017 with many analysts now raising their forecasts for the performance of the company in 2018. Seplat’s sales came in at US$174m, up 318% y/y while profit before tax, PBT of US$46m compares with a loss before tax of -US$85m in Q4 2016. It is… View Article

The post Seplat shares to get boost from strong Q4 results say analysts appeared first on BusinessDay : News you can trust.

Junior Achievement Nigeria hosts 50 youth to her annual venture in management program 2018 edition

“One of the best things about the Venture in Management Program is the opportunity it provides for participants to network with their peers, facilitators, and business executives they come in contact with; ViMP is a great platform that helps participants kick start their career” These were the words of Chienye Ogwo, ViMP alumni and CEO… View Article

The post Junior Achievement Nigeria hosts 50 youth to her annual venture in management program 2018 edition appeared first on BusinessDay : News you can trust.

Non-oil economy gathers momentum in Q4 – NBS

Nigeria’s non-oil economy grew 1.5 percent year on year (YOY) in the fourth quarter of 2017, its strongest performance since 2015, according to GDP data from the National Bureau of Statistics (NBS) released yesterday. This is a reversal of the non oil sectors negative growth of -0.76 percent recorded in the third quarter of 2017… View Article

The post Non-oil economy gathers momentum in Q4 – NBS appeared first on BusinessDay : News you can trust.