BUSINESS NEWS

Flour Mills of Nigeria (FMN) Plc has obtained all approvals to acquire a 71.69 per cent stake in Honeywell Flour Mills Plc (HFMP), formerly a portfolio company of Honeywell Group. It also acquired a 5.06 per cent stake in HFMP held by First Bank of Nigeria Limited.   Flour Mills, in a statement at the […]

The Chief Executive Officer of Financial Institution Training Centre, (FITC), Mrs. Chizor Malize, has advised deposit banks and financial technology firms (fintechs) to learn from their previous mistakes in driving financial inclusion in the country. Delivering her keynote at the third edition of Industry Summit/Awards formerly known as Industry evening summit with “Financial inclusion, digital […]

FOREMOST Nigeria auto-mobile manufacturer, PAN Nigeria Limited, which parted ways with Automobile Peugeot of France early this year made history as the only auto maker in Nigeria to have crossed the production of 500,000 vehicles. The Kaduna-based automobile manufacturer which is now a multi-brand auto producer made a total of 523,000 vehicles during its 47 […]

The Central African Republic (CAR) has become the first African country and the second globally to approve Bitcoin as a legal tender. This was disclosed in a statement released by the office of the country’s president Wednesday. Mr Namsio noted that President Faustin Touaderahad signed a bill into law to make Bitcoin a legal tender alongside the […]

The Central Bank of Nigeria (CBN) has lamented the low participation of people of Anambra State in its intervention programmes. The controller of Anambra branch of the CBN, Mr. Benedict Maduagwu disclosed this during a sensitisation fair organised by the apex bank in Awka. He lamented that despite the abundance of skills and talent in […]

The Federation Account Allocation Committee (FAAC) yesterday shared a total sum of N725.571 billion to the federal government, states and local government councils as March 2022 Federation Account revenue. Citing the communiqué issued at the end of a virtual meeting of the FAAC for April 2022, the Director (Information, Press and Public Relations), Office of […]

The House of Representatives Committee on Public Accounts as assured that it would unravel the mystery behind and alleged N2.6 trillion capital allowances granted to MTN by the Federal Ministry of Trade and Industry. Chairman of the committee, Oluwole Oke while speaking at the resumed investigative hearing into the Audit queries on tax evasion issued […]

The federal government has said that 1.2 million persons and businesses have benefited from the N75 billion Micro, Small and Medium Enterprise (MSMEs)’ survival fund since its launch. Mariam Katagum, minister of state for Industry Trade and Investment disclosed this on Tuesday at the national conference on non-oil export with theme “optimising Nigeria’s non-oil organised […]

The Development Bank of Nigeria Plc (DBN), said it has disbursed N482 billion to Micro, Small, and Medium Scale Enterprises in Nigeria since inception. The bank said 65 per cent of the MSMEs were women and youth-owned businesses. While presenting the summary of the financial statement for the year ended 31 December 2021, to the […]

Unarguably, the Federal Government changed the name of the Federal Ministry of Communications to Federal Ministry of Communications and Digital Economy in order to be in tune with global trends and reality. The World Economic Forum (WEF), predicts that by 2022, 60 per cent of the world economy will be digital. Companies need to re-imagine […]