Business & Strategy

The Central Bank of Nigeria (CBN) has issued a new guideline specifying that only accounts inactive for over 10 years will be classified as dormant and used for investment purposes. This update is detailed in the “FAQs – Guidelines on Dormant Account and Unclaimed Balances – July 25, 2024,” recently posted on the CBN’s website. […]

Nigeria experienced a staggering loss of about $10 billion from January to July 2024 due to theft, vandalism, and other criminal activities affecting its oil sector, according to a statement from the House of Representatives on Thursday. This loss, amounting to an average of 437,000 barrels of crude oil per day, has prompted urgent investigations […]

Amid allegations of attempting to monopolize Nigeria’s oil sector, Alhaji Aliko Dangote, President of Dangote Industries Limited, has received an invitation from President Brice Oligui Nguema of Gabon to invest in the country’s cement and fertiliser industries. According to a statement from Dangote Group’s media office, President Nguema has encouraged Dangote to explore opportunities in […]

Abidemi Sonoiki, the Honorary Consul of Grenada to Nigeria, has outlined key investment opportunities in Grenada for Nigerian entrepreneurs. Sonoiki, who has held the consul position since May 2022, shared these insights during a recent press briefing at the Honorary Consulate of Grenada in Lagos. Sonoiki emphasized that Grenada offers promising prospects across various sectors […]

The Kano Electricity Distribution Plc. (KEDCO) has called for a peaceful and amicable resolution with the Manufacturers Association of Nigeria (MAN) and other dissatisfied customers. In a statement on Monday, Head of KEDCO’s Corporate Communications, Sani Bala, urged understanding from all customers, emphasizing the company’s commitment to customer-centric operations within strict regulations. The statement highlights […]

Nigeria’s Information and Communications Technology (ICT) sector, a stalwart in the nation’s economic landscape, is encountering significant challenges despite its historical resilience and contribution to the Gross Domestic Product (GDP). In recent years, the ICT sector, driven prominently by telecommunications, has been a major pillar of Nigeria’s GDP. However, current indicators reveal troubling signals of […]

The Nigerian Shippers’ Council (NSC) has reported that Nigeria and other African countries are losing an estimated $50 billion annually due to illegal financial outflows. This revelation was made by the Executive Secretary and Chief Executive Officer of the NSC, Pius Akutah, during a recent debate competition in Lagos organized by National Youth Service Corps […]

Oil marketers are eagerly anticipating the release of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery. However, they disclosed that no pricing agreement has been reached between the refinery managers and petrol retailers. On Sunday, it was reported that the Dangote refinery delayed the date for the supply of petrol […]

Hygiene brand Dettol has reached out to Lagos State communities, organizing football matches to showcase grassroots talent as part of a three-event series aimed at promoting community health and hygiene. Dettol Cool hosted the events from June 16 through June 27, 2024. The series kicked off in Gbagada and included football matches at National Stadium, […]