Total customers can now make cash withdrawals in select Total Service Stations without an Automated Teller Machine (ATM).
The Nigerian National Petroleum Corporation (NNPC) on Tuesday received no fewer than 34 bids submitted by different companies for the digitization of legacy documents in the corporate headquarters.
Standard and Poor’s (S&P) assigns ‘B’ long term and ‘B’ short term global scale counterparty credit ratings to the United Bank for Africa PLC (UBA).
Globetom’s has announced that their cloud service for electronic distribution and payment solution management is making a market entry into Nigeria.
Globacom has strengthened its position as Nigeria’s preferred data network by recording the highest data penetration among the four major operators in the telecommunications industry.
Through frequent borrowing from the Central Bank of Nigeria (CBN) by commercial banks, the regulator recorded N3.29 billion as interest income in February 2017.
Venture capital firm, Zeno Ventures, has closed an investment in Tizeti Inc., a Menlo Park, CA and Lagos, Nigeria based startup that participated in the latest batch of Y Combinator.
Leading banks in Nigeria have reported a significant rise in income from fees they charge customers for use of their various electronic banking services.
Petroleum products supply to the Northern part of the country received a boost yesterday as the Nigerian National Petroleum Corporation, NNPC, re-commissioned its Kano Depot, even amidst encomiums poured on the Corporation for reviving the facility.
[Nigeria] OGUNCCIMA lauds Dangote Group’s collaboration as Group’s subsidiaries offer products at subsidised prices
The Ogun State Chamber of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has commended the Pan African Conglomerate, Dangote Group for its giant strides in economic development of the country through massive investments in several sectors of the economy describing the feat as worthy of emulation by other Nigerians.
Experts at the International Telecoms Week conference in Chicago have highlighted the need to accelerate investment in Africa to facilitate the continent’s broadband data explosion.
The African Export-Import Bank (Afreximbank) has disbursed more than $35 billion in trade and project financing to Nigerian public and private entities since its inception to support the country's economic and trade growth, Bank President Dr. Benedict Oramah has said.
The IDC CIO Summit, currently underway in Lagos, is focusing on how the next wave of social, mobile, analytics and cloud (SMAC) technologies will unleash innovation and productivity in the enterprise by delivering better employee and customer experiences.
Aiteo Group has announces the appointment of Mr. Ratko M. Knezevic to its Global Executive Management team as Group Advisor on Business and Capital Development.
[Nigeria] She Leads Africa launches accelerator for women run businesses with Work in Progress Alliance
She Leads Africa has announced applications for the 2017 She Leads Africa Accelerator, a 3-month program designed to identify, support and fund the next generation of Nigeria’s brightest entrepreneurs.
The Lagos State Government has launched a free public Wi-Fi project at parks and gardens in Lagos in partnership with MainOne.
Global travel technology provider, Sabre Corporation, is celebrating ten years of success in Nigeria and the continued growth of the local travel industry.
Etisalat Nigeria has reacted to reports claiming that the on-going discussions with its bankers have become stalled or reached a deadlock.
Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285% from1.3billion standard cubic feet per day to 5bscf/d by 2020.
Africa’s leading freight logistics chain Transnet has been on an expansion binge and is expected to set up shop in eight more African countries including Kenya, Liberia, Ghana, Nigeria, DR Congo, Senegal, Togo and Benin.
The Standards Organisation of Nigeria (SON) on Sunday inaugurated its Seme border office with assurance to intensify efforts at checking influx of substandard products into the country through land borders.
Co-creation Hub (CcHUB), the leading social innovation centre in Nigeria, has launched the ‘CcHub Diaspora Challenge’, an international project that will engage entrepreneurs, innovators and scientists from African communities in the UK and source scalable business solutions to social challenges in Africa.
Shell Nigeria Exploration and Production Company (SNEPCo) has facilitated the training of medical workers from hospitals in Anambra State on emergency resuscitation.
The all new Galaxy S8 and S8+, has been launched into the Nigerian market by Samsung Electronics. The Nigerian launch event recently took place at the Renaissance Hotel, GRA, Ikeja, Lagos.
African financial institution, United Bank for Africa, has introduced a full-fledged banking platform, tagged UBA Magic Banking and enabled by dialling *919# within Nigeria.
The 2019 target set by the Nigerian National Petroleum Corporation to exit importation of Premium Motor Spirit (PMS) is still achievable, Group Managing Director, Dr. Maikanti Kacalla Baru, has said.
In order to try and achieve their shared goal of a Nigeria which offers financial inclusion for all, Paga and the Nigerian Postal Service (NIPOST) recently announced a partnership which is aimed at doing just that.
GBfoods, a leading multinational food company headquartered in Barcelona, and Helios Investment Partners, a premier Africa-focused private investment firm, have partnered to create one of Africa's largest FMCG businesses.
Islamic Corporation for the Development of the Private Sector and SunTrust Bank Nigeria to establish a new non-interest banking window
The Islamic Corporation for the Development of the Private Sector (ICD), the private arm of Islamic Development Bank Group (IDBG), and Suntrust Bank Nigeria Limited (SBN), signed an agreement to establish a new non-interest banking window in SBN in Nigeria.
Stakeholders in the mobile money ecosystem have called for a review of the prevailing mobile money regulatory framework, so that the country can achieve the target growth rate in the system.
Oando, Nigeria’s indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced unaudited results for the three months period ended 31 March, 2017, with the following highlights:
Guinness Nigeria Plc, the nation’s leading alcoholic beverage manufacturer and a subsidiary of Diageo Plc, has released its unaudited results for the nine months ended 31 March, 2017.
Forbes Woman Africa partners with Ecobank to Launch First Television Show, “Against the Odds with Peace Hyde”
FORBES WOMAN AFRICA, the continent’s first-ever women’s interest magazine from the highly-successful FORBES stable, launches its very first television show through FORBES AFRICA TV, in partnership with Ecobank.
No fewer than thirty-seven companies have submitted bids to supply six triple agent firefighting trucks for the operation of the Nigerian Pipelines and Storage Company.
This week, more than 138,000 vaccinators will fan out across five African countries in the Lake Chad area in a push to eliminate polio in Africa and rid the world of this terrible disease forever.
Guaranty Trust Bank plc has released its unaudited financial results for the quarter ended March 31, 2017 to the Nigerian and London Stock Exchanges.
Dangote Industries Limited has received a grant from the U.S. Trade and Development Agency in support of its efforts to develop a 100 MW solar photovoltaic power plant with Black Rhino, an African infrastructure investor, in Kano State.
West Africa's leading connectivity and data center solutions provider, MainOne has pledged its commitment to boost Information and Communications Technology (ICT) in Ogun State with a data center project in Sagamu.
The federal government is to buy 20 aircraft to equip Nigeria College of Aviation Technology (NCAT) Zaria and make it a centre of excellence.
Airtel Networks Limited and ZTE have announced a strategic partnership to launch 4G (fourth generation wireless mobile telecommunications technology) in Nigeria.
The Internet Exchange Point of Nigeria (IXPN), has partnered with Maindata Nigeria (MDXi), a MainOne subsidiary, to improve national transit traffic by hosting a Point of Presence in the Maindata facility.
The Central Bank of Nigeria (CBN) has suspended its earlier directive on the implementation of cashless policy. In a circular released on Friday, the apex bank instructed banks to revert to old charges and refund customers who had been debited.
Dangote Flour Mill (DFM) owned by Africa’s richest man, Aliko Dangote announced that it has sold its noodles business and assets to Dufil Prima, makers of Indomie noodles for an undisclosed amount.
Facebook celebrated the achievements and products of its growing African developer and partner ecosystem at its annual F8 developer conference, held in San Jose, California, on 18 and 19 April.
The Nigerian National Petroleum Corporation (NNPC) has raised the stake in its commitment to diversify into the health sector in line with the Corporation’s stand to stay afloat as a commercially viable entity.
Five states are to build solar-powered mini-grids to aid the Federal Government’s efforts at improving electricity generation and supply.
As part of activities to mark its 100th anniversary this year, Nigerian financial institution, Union Bank, has announced a partnership with Co-Creation Hub (CCHub) to launch its Centenary Innovation Challenge.
The African Export-Import Bank (Afreximbank) has selected Nigeria as the preferred country to host the first of its Centres of Excellence for Healthcare Services in Africa.
Access Bank Plc has announced the appointment of Mr. Roosevelt Michael Ogbonna, as Group Deputy Managing Director to replace Mr. Obinna Nwosu who recently resigned his appointment to pursue other personal endeavours.
The Central Bank of Nigeria (CBN) yesterday carried out wholesale interventions in the interbank FOREX market by offering a total sum of $100m to authorized dealers to meet the 7 to 15-day forwards requests of customers.
Jumia Nigeria is pleased to present the 2017 edition of the African Mobile Trends Paper. This is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria.
Cros Agro Allied Ltd, a Nigerian agribusiness company, has announced a commitment to invest $65 million in the country’s potato sector.
With the cumulative loss of 4.8 million barrels in the month under review put in cost at the prevailing $55.89 per barrel for Brent crude, Nigeria is estimated to have lost over $271.8 million (N82.8 billion).
After six weeks of closure for runway repairs, the Nnamdi Azikiwe International Airport, will re-open for commercial flights operations tomorrow. The re-opening followed six weeks of low passenger traffic at the alternate airport in Kaduna.
Nigeria’s fully integrated telecommunications company, Globacom wants small businesses to adopt integrated and flexible communications plan in order to improve their efficiency, cut cost and expand their bottom lines.
Akinwumi Adesina, president of the African Development Bank (AfDB), says billionaire businessman, Aliko Dangote, may become the largest exporter of rice in the world by 2021.
The much-awaited construction of standard railway track from Lagos to Ibadan has commenced with the Managing Director of Nigerian Railway Corporation (NRC), Engr. Fidel Okhiria advising those with illegal structures on the railway right of way to leave immediately.
As OPEC discusses a six-month extension of the oil production cut agreement that it struck in November, Nigeria plans to continue ramping up its own output.
The World Bank’s Board has approved a $150 million credit to enhance the contribution of the mining sector to the Nigerian economy.
As part of efforts to educate telecommunications consumers on their rights to quality telecoms services, the Nigerian Communications Commission (NCC) said subscribers could stop unsolicited text messages if they send "STOP" to "2442".
President Muhammadu Buhari yesterday appointed 24 persons to head federal government agencies. A statement announcing the appointments which are to take immediate effect was signed by the Director of Press in the Office of the Secretary to the Government of the Federation (OSGF), Bolaji Adebiyi.
Nigeria's central bank has increased the limit on banks' foreign currency borrowings to 125 percent of shareholders' fund after some lenders breached its regulatory limit due to the recent fall in the naira, according to a circular seen by Reuters.
Nigeria has been re-elected, for the 45th time, to chair the UN Special Committee on Peacekeeping Operations, regarded as UN's most strategic committee, the News Agency of Nigeria reports.
A total of 28,667,139 users of deposit money bank (DBM) accounts in the Nigerian banking system now have their Bank Verification Numbers (BVN) issued by the system.
The Nigerian National Petroleum Corporation (NNPC) will commercialise some of its critical Information Communications & Technology (ICT) infrastructure in line with its bid to re-focus the Corporation as a commercially viable entity.
[Nigeria] Dangote Flour Mills profit soars to $30 million since reacquisition from Tiger Branded Consumer Goods of South Africa
Dangote Flour Mills has posted a profit before tax of N11.82 billion for its financial year ended December 31, 2016. According to the results released on the floor of the Nigerian Stock Exchange (NSE), the company has returned to profitability after four years of losses.
Fidelity Bank Plc grossed N152.0bn in earnings for the financial year ended December 31, 2016 and is proposing to pay a dividend of 14kobo per share to shareholders.
UNIC Insurance Plc was yesterday delisted and replaced by UNIC Diversified Holdings (UDH) Plc at the Nigerian Stock Exchange as the insurance company completed its transformation into a financial services holding group.
The combined installed capacity utilization of the Nigerian National Petroleum Corporation’s refineries located in Port Harcourt, Warri and Kaduna increased by about 29 percentage points in January 2017 compared with their performance in December 2016.
The shareholders of the pan-African financial institution, the United Bank for Africa applauded the Board, Management and Staff at the 55th Annual General Meeting of the Bank, held in Lagos on Friday April, 7, 2017.
Africa Finance Corporation, a pan-African multilateral development finance institution and project developer, has issued a US$500 million 7 year Eurobond.
A five-year, $13 million collaboration between Michigan State University and The MasterCard Foundation will help 15,000 young people access employment and entrepreneurship opportunities in the fast-growing horticulture, aquaculture, poultry, cassava and oilseed sectors in Tanzania and Nigeria.
Notwithstanding the negative growth recorded in 2016, the real estate sector is expected to grow at an average rate of 5.39 per cent between 2017-2020.
Following the success of the campaign to reward its customers last year, Zenith Bank Plc has returned with another *966# Eazybanking airtime giveaway for the Easter season.
Two weeks to the opening of the Abuja airport runway to traffic, the Minister of State, Aviation Sen. Sirika Hadi Sirika, has said the runway is 75 percent completed.
The Supreme Court of the United Kingdom in a unanimous judgment has granted a reprieve to Nigerian National Petroleum Corporation, NNPC, over a $100million Bank guarantee in a case involving the Corporation and a service company, IPCO (Nigeria) Limited.
Global communication company Grey GREY is re-entering Nigeria with immediate effect, having appointed Centrespread, one of Nigeria's largest independent advertising communications groups as its affiliate in that market
Ekene Okechukwu is Founder of Bargainmasterng.com, Nigeria's social marketplace for online sellers and buyers.
United Bank for Africa (UBA), Africa’s Global Bank operating in 19 African countries, has announced the promotion of 3,000 staff members.
Oando PLC Nigeria’s indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced audited results for the year ended 31 December, 2016, with the following highlights:
VoguePay has won the “Best Fintech Startup” award at the just concluded Cashless Africa Expo. The award is in recognition to online payment in Nigeria and Africa in general.
Seed sector professionals have said that businesses selling improved varieties and high quality cassava stems for cultivation could help African farmers significantly raise their productivity.
Lidya, a leading fintech platform based in Nigeria, has announced that it has closed a US$1.25 million seed funding round to further its mission of easing access to finance for small and medium enterprises (SMEs) across Africa.
Twenty-eight beneficiaries of the Shell Nigeria LiveWIRE programme are now retooling to get a good share of the $800,000 growth fund for 2017 provided by Grofin Investment.
Official PC shipments to Nigeria fell 57.1% year on year in 2016 to total 156,511 units, according to the latest figures compiled by International Data Corporation (IDC).
The Nigerian National Petroleum Corporation (NNPC) says it has succeeded in reducing gas flaring in the Country by 26 percentage points in the last ten years from 36 per cent to 10 per cent.
Sterling Bank has launched a new five-year strategic plan that will enable the bank optimise its potential and generate better returns for stakeholders.
Merck, a leading science and technology company through its ‘Merck More than a Mother’ initiative in partnership with Asia Pacific Initiative on Reproduction (ASPIRE), conducted a panel to address challenges and solutions to improve access to regulated fertility care in Africa and Asia.
The ongoing reform of the Nigerian National Petroleum Corporation is geared towards transforming it from an oil and gas company into an integrated energy outfit with interest in power generation and transmission.
In celebration of Global Money Week, Uber and Old Mutual have announced that they will be extending its free money management course that took place in South Africa to its driver-partners in Accra, (Ghana), Lagos (Nigeria) and Nairobi, (Kenya).
Poised to attract foreign investors into the nation’s shipping sector, The Nigerian Maritime Administration and Safety Agency (NIMASA) has unveiled its plans to showcase the huge potential of the Nigerian maritime sector at the Norway Shipping holding later this week.
The Chairman of Guinea Insurance Plc, Mr Godson Ugochukwu, says the company is targeting to bring 80 per cent of Nigerians under insurance cover by 2021.
Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, today announces its 2016 fiscal year results.
Africa Finance Corporation announces that Dr Sarah Alade, its Chairman, representing the Central Bank of Nigeria, from which she officially retired on 22 March, 2017, has also stepped down from her position as Chairman of the AFC Board of Directors with effect from today.
The Governing Council of the Nigerian Chamber of Shipping (NCS) has elected its long standing vice president, Andy Isichei as its sixth President.
Cros Agro Allied Ltd, a Nigerian agribusiness company, has announced a commitment to invest $65 million in the country’s potato sector.
First Bank of Nigeria Limited is joining the rest of the world in celebrating the 2017 Global Money Week to engage children and youths on the rudiments of financial literacy.
[Nigeria] Update on NNPC’s Recovery of Crude Swap Under-Deliveries: AITEO Settles $202m Outstanding Obligations
In line with its pledge to provide members of the public with periodic updates on its recovery efforts for crude swap under deliveries, the Nigerian National Petroleum Corporation (NNPC) is pleased to confirm that it has now reached a final settlement with AITEO Group.
The Tony Elumelu Foundation (TEF) is proud to announce the selection of 1,000 African entrepreneurs, creating the 3rd cohort of the 10-year $100 million TEF Entrepreneurship Program.
United Bank for Africa (UBA) Plc, the pan-African financial services group operating in 19 African countries, has released its audited 2016 full year results, showing significant growth in gross earnings and profits.