Business

The World Bank on Tuesday announced that Nigeria is now ranked 145th position out of 190 countries in the Ease of Doing Business index for 2018. The World Bank stated this in its just released Ease of Doing Business report titled, “Doing Business 2018: Reforming to create jobs”. According to the report, Nigeria moved up by 24 places from 169th ...

The Vice President, Yemi Osinbajo has inaugurated the Nigerian Industrial Policy and Competitiveness Advisory Council (NIPCAC), at the State House, Abuja. The Federal Executive Council (FEC) had earlier approved the establishment of NIPCAC in March 2017 as a vehicle for partnering the private sector to drive Nigeria’s industrialisation agenda. Osinbajo, on Monday, chaired the meeting of the NIPCAC alongside other ...

As part of efforts to improve the Nigerian capital market, the Securities and Exchange Commission has inaugurated the Nigerian Capital Market Development Fund (NCMDF). Speaking at the inauguration ceremony of the Board in Abuja, the Director General of the commission, Mounir Gwarzo explained that the initiative aims to boost investors’ confidence. “Part of the 10-year capital market development initiative that ...

Nigerian Professional Football League (NPFL) side, Rangers International Football Club of Enugu will soon be floated on the Nigerian Stock Exchange (NSE). An official of the Administrative Commission of Inquiry on Rangers confirmed this on Tuesday. As a result of  the submissions mate by the commission, the Enugu State Government will likely divest its shares and stakes in Rangers soon. ...

Masters Reality International Concept Limited, a subsidiary of CFL Group has unveiled the architecture design of the Alade Mall to its prospective buyers and real estate experts. In line with Lagos Mega city projects, the company signed a 30-year concession agreement with Lagos state government. The company amongst other development have Antilla Villas, Dorchester Court, Lincoln Heights, Bishopsfield and Whiteheavens. ...

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 ...