Federal Executive Council (FEC) meeting in Abuja on Wednesday approved $2.75 billion for the Nigerian National Petroleum Corporation (NNPC) to buy a 20 per cent stake in the Dangote Petroleum …
Category:
Business Policies
Eight companies have been chosen from a pool of 38 bidders to ensure the successful sale of the $6.2 billion Eurobond to be issued by the Nigerian government. The federal …
- Banking, Finance & InvestmentBusiness PoliciesWestern Africa
CBN Bars PSHCs from Accessing Bank Loans
Central Bank of Nigeria (CBN) has barred the proposed Payments Service Holding Companies (PSHC) from borrowing from the Nigerian banking system for the purpose of capitalising itself or any of …
- Banking, Finance & InvestmentBusiness PoliciesWestern Africa
CBN Dismisses Rumours of Plans to Convert Forex in Customer’s Domiciliary Accounts into Naira
Central Bank of Nigeria (CBN) has allayed fears over domiciliary account deposits as it dismissed rumours of plans to convert foreign exchange in customer’s domiciliary accounts into Naira. Osita Nwanisobi, …
- Business PoliciesHospitality, Travel & TourismSouthern Africa
Trade Union Accuses South African Airways of Attempt To Control Rescue Process
Trade unions representing Mango Airlines’ workers have accused the department of public enterprises of having no intention to keep the cash strapped carrier in the sky. The low-cost South African …
Transnet SOC Ltd (Transnet) has announced its readiness to begin operation after a cyberattack that crumbled business activities for a week. A force majeure was declared by the port terminals …
- BusinessBusiness PoliciesGlobal News
China’s assets remain attractive despite recent correction – state media
China’s state media on Thursday said yuan-denominated assets remain attractive and that short-term market panic does not represent long-term value, the latest official effort to shore up investor confidence. The …
The Association of Bureaux de Change of Nigeria (ABCON) has finally broken its silence on the stoppage of foreign exchange (FX) sales to its members by the Central Bank of …
- BusinessBusiness Policies
Hyundai Motor, LG Energy Solution partners to set up cell plant for electric vehicles
South Korea’s Hyundai Motor Group and LG Energy Solution said on Thursday they would set up a joint venture (JV) in Indonesia to establish a battery cell plant for electric …
Dr Obadiah Mailafia, former deputy governor of the Central Bank of Nigeria (CBN), has said that commercial banks in the country cannot be trusted with forex sales, adding that they …