Business

The Emir of Kano, Muhammad Sanusi II, has  began the first Islamic insurance company in Nigeria, Jaiz Takaful Insurance. Speaking on Monday, Sanusi said the introduction of the system in the country was a welcome development to contribute towards boosting Nigeria’s economy. Emir  Sanusi who said the policy would be guided by Sharia, explained that it is not only for ...

It and networking giant, Cisco will partner with Google Cloud in developing hybrid cloud offerings for enterprise customers. According to the companies, the hybrid cloud offering  will enable applications and services to be deployed, managed and secured across on-premises environments and the Google Cloud Platform. According to reports, the offer is expected to help organisations optimize their existing investments, plan ...

Oando Plc has reacted to the findings by the Security and Exchange Commission (SEC) that its audited financial statements contained misstatements. In a statement on Tuesday, Oando accused SEC of illegality, adding that it had secured a court order restraining the regulator and the Nigerian Stock Exchange from enforcing the technical suspension of its shares. The Securities and Exchange Commission ...

The Standards Organisation of Nigeria (SON) has disclosed that it has trained representatives from 170 manufacturing companies in Anambra on Standard Operating Procedures (SOP). The one-day training was held in Awka, capital of Anambra state. Speaking, Mrs Nwaoma Olujie, Coordinator of SON in Anambra, said the event was meant to help firms develop proper documentation of SOP. Olujie, who observed that ...

The Federal High Court in Abuja has ordered the Central Bank of Nigeria and the 19 commercial banks in the country to disclose all accounts in their custody and the balances in such accounts. The court ordered the banks to disclose the details of all such accounts, their owners and their proceeds in their affidavit of compliance deposed to by ...

The Nigerian Maritime Administration and Safety Agency (NIMASA) has filed an appeal against the judgment of the federal high court, Lagos, delivered in favour of Nigeria Liquefied Natural Gas (NLNG). On October 3, the court had ruled that NLNG was not liable to pay three percent gross freight on its international inbound and outbound cargo and sea protection levy amongst other ...

The Central Bank of Nigeria (CBN) has directed deposit money banks and other financial institutions to monitor accounts of customers where fraudulent activities are suspected. According to a regulatory framework for BVN operations and watch-list for the banking industry released on Thursday, banks have the right to bar a watch-listed customer from opening an account or using its electronic service. ...