Business

Cement Giant Lafarge Charged With Funding Terrorists, ISIS

French cement giant Lafarge was charged Thursday with complicity in crimes against humanity and financing a terrorist organisation for paying millions to jihadist groups, including the Islamic State, to keep a factory in Syria open during the war. A legal source said the company, which paid the armed groups through middlemen, has also been charged with endangering the lives of ...

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Taxify Introduces New Service Category For Abuja Riders

By Charity Simon, Abuja Wave-making Taxi operator, Taxify, has introduced a new category to wow its numerous clients in Abuja, the Federal Capital Territory. A statement from the company, signed by its country manager, Uche Okafor, said the new service category named Comfort, began operations in Abuja on June 26. According to the statement, Comfort will enable service consumers in ...

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Media Entrepreneur, Peace Hyde, Opens Skills Acquisition Centre In Lagos

Named as a powerful woman on the continent by CNN, Media Entrepreneur and Head of Digital Media and Partnership for Forbes Africa, Peace Hyde, has opened another branch of her innovative entrepreneurship development and skills acquisition non-profit, Aim Higher Africa in Lagos. Located in the Silicon Valley of Nigeria, Yaba, The AHA skills acquisition centre is designed to train unemployed ...

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FIRS Contributed More Than N4Trn To 2018 Budget – Fowler

Chairman of the Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler, has said that of the N9.3 trillion 2018 federal budget, FIRS in-takes accounts for N4trillion. He also said the service was on course to achieve its target of N5trillion from taxes in 2018 fiscal year. Disclosing this in an interview on AMOI Unplugged, set to be aired on the ...

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How Nigerian Banks Lost N12.30bn To Fraud In 4 Years – NIBSS

The Nigerian Inter-Bank Settlement System (NIBSS), on Thursday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017. Mr Adebisi Shonubi, Managing Director, NIBBS, disclosed this at the third Annual Banking Security Summit organised by MAXUT Consulting in partnership with OneSpan, a global data security company in Lagos. Shonubi said the figure was ...

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White House Piles Pressure On China After Trump Tariff Threat

China has underestimated U.S. President Donald Trump’s resolve to impose more tariffs unless it changes its “predatory” trade practices, a White House trade adviser said on Tuesday, as Trump greatly expanded the amount of Chinese imports possibly facing new duties. The growing trade conflict hit financial markets hard, with Beijing accusing the United States of “extreme pressure and blackmailing” and ...

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6 Nigeria’s Power Stations Shut Down As Electricity Supply Drops

The Transmission Company of Nigeria (TCN) has shut down six thermal power generating stations to enable the Nigeria Gas Company (NGC) pipeline to carry out repair work on a ruptured gas pipeline which has caused a drop in electricity supply in the country. General Manager, Public Affairs, TCN, Mrs Ndidi Mbah, said in a statement in Abuja on Sunday, that ...

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Govt Is Ready To Support Businesses In Nigeria – Osinbajo

The Federal Government is actively supporting private investors in the power sector, and continuously working to ensure the business environment is conducive for businesses to thrive in the country, according to Vice President Yemi Osinbajo, SAN. He said this at a media chat with journalists, after a tour of the Azura Power Plant near Benin City, on day two of ...

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Seplat Returns To Profitability On Increased Gas Revenue

By Ben Uzoh Seplat Petroleum Development Company Plc, an oil and gas upstream operator listed on the Nigerian and London Stock Exchanges, announced Wednesday that it bounced back to full year profitability during the 2017 financial year ended December 31, 2017. It said the positive turn of events was driven by gas advantage which it had explored aggressively since the ...

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FMDQ Clear, Frontclear Partner To Enhance Clearing Structure In Nigeria

By Ben Uzoh In a bid to enhance Nigeria’s financial services structure, especially in the clearing and settlement systems segment, FMDQ Clear Limited (FMDQ Clear) and Frontclear have joined to set a record in the Nigerian market by facilitating a clearing structure to strengthen the OTC market liquidity. FMDQ Clear is a wholly-owned clearing and settlement subsidiary of Nigeria’s FMDQ ...

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