Business
Business news…
First Bank Recovers N456 Billion Loan from Heritage Bank Prior to License Revocation
First Bank has successfully recovered a “N456 billion loan” from Heritage Bank, just before the latter’s banking license was revoked by the Central Bank of Nigeria (CBN).
This recovery concludes a seven-year wait and averts a substantial impairment charge … Continue Reading
Femi Otedola accuses Jim Ovia Over Alleged Multibillion Naira Fraud
The ongoing dispute between billionaire businessman Femi Otedola and Jim Ovia, chairman of Zenith Bank, has intensified over allegations of a multibillion naira fraud. Otedola has accused Ovia of unauthorized use of Seaforce Shipping Limited’s Zenith Bank account for … Continue Reading
African Entrepreneurs to Get Up to $300k Grant in Africa’s Business Heroes (ABH) Competition (Apply Here)
African entrepreneurs stand a chance to win up to $300,000 in Africa’s Business Heroes (ABH) Competition.
ABH is designed to provide both applicants and finalists with a range of benefits to meet the needs of entrepreneurs across the African ecosystem.… Continue Reading
Why Heritage Bank’s licence was revoked — CBN reveals
The Central Bank of Nigeria (CBN) announced yesterday that it has revoked Heritage Bank’s operating licence due to the bank’s inability to improve its financial status. The Nigeria Deposit Insurance Corporation (NDIC) has started the bank’s liquidation process and will … Continue Reading
Dangote Refinery Faces Challenges as IOCs Refuse to Sell Crude Oil
Aliko Dangote, Chairman of the Dangote Group, revealed in a CNN interview that international oil companies (IOCs) in Nigeria are unwilling to sell crude oil to the 650,000-barrel capacity Dangote oil refinery.
Dangote attributed this reluctance to IOCs’ long-standing … Continue Reading
FG Offers Businesses N1bn Loan At 9% Interest rate – Wale Edun
Small-Scale Entrepreneurs Can Access Up to N1m, Larger Businesses Up to N1bn
The Federal Government has announced a credit facility for businesses, including manufacturers, with loans up to N1bn at a reduced interest rate of 9%, according to Minister of … Continue Reading
“Apply With link before deadline” – First Bank Announces Job Vacancy for Interested graduates
First Bank, one of Nigeria’s oldest and most respected financial institutions, has opened applications for its Graduate Trainee Programme. This annual recruitment initiative is designed to attract and develop fresh graduates into the bank’s workforce, aiming to meet the … Continue Reading
BREAKING: CBN Revokes Heritage Bank’s Operating License
The Central Bank of Nigeria (CBN) has revoked the operating license of Heritage Bank. This decision was announced by the Acting Director of Corporate Communications at CBN, Hakama Sidi Ali, through an official statement.
According to the CBN, the revocation … Continue Reading
FG to Establish Six Mineral Centres Across Nigeria
The Federal Government has announced plans to establish six mineral centres across the six geo-political zones in Nigeria to boost the mining sector.
This initiative was disclosed by the Minister of Solid Minerals Development, Dr. Dele Alake, during an … Continue Reading
Naira appreciates to N1,375/$ in parallel market
The Naira experienced an appreciation in the parallel market yesterday, rising to N1,375 per dollar from N1,500 per dollar on Tuesday.
However, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira depreciated, falling to N1,339.33 per dollar. According … Continue Reading