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Economy

Anambra state-born businessman acquires U.S Oil Company
Posted by Admin: An Anambra state born businessman,Mr Clement ibeto in a bid to expand his conglomerate has acquired an U.S based public traded oil company.   The management of Ibeto Cement Company Limited in announcing the latest acquisition of Century Petroleum Corporation, a United States (U.S.) publicly traded petroleum.....
Ex Intercontinental Bank CEO to face trial over alleged N5bn fraud,Supreme court rules
The legal battle between the ex-Chief Executive Officer of defunct Intercontinental Bank PLC may have been won as the Supreme Court, on Friday, granted the Economic and Financial Crimes Commission, EFCC, an order to continue with the prosecution of Dr. Erastus Akingbola over his alleged involvement in 5 Billion Naira.....
Ekeh calls on Buhari to extend tax concessions to tech sector
Posted by Admin The Chairman of Zinox Group,Leo Stan Ekeh,in lagos during the Silverbird Man of the year award on wednesday called on the Federal Government to consider urgently extending exceptional tax concessions to the technology sector. According to the Imo state-born entrepreneur, extension of tax concessions to persons in.....
Capt Ihenacho commences detailed engineering designs of N90bn Eko Refinery and Petrochemicals
Posted by Admin: The Emekuku-Imo state oil magnet,Capt Emmanuel Iheanacho’s hope of realisig the $25omillion ( N90bn) Eko Refinery and Petrochemical project brightens following the commencement of detailed analysis of supporting technologies and engineering works of the private refinery. The oil and gas entrepreneur made this known to the Press.....
Imo State-born Banker floats Investment Bank, promises to revolutionise the sector
From Nnamdi: A new bank has just entered the Nigeria financial sector with a promise to change the face of Investment banking in the country and further support the economic growth of the nation. This was the the thrust of the newly launched NOVA Merchant Bank Limited set-up by the.....
Zinox scores another big,gets infraco licences from NCC
Posted by Admin …to stimulate internet broad-band pentration South-east Zinox group, a Nigerian wholly indigenous Information Communication Technology (ICT) company led by Mr Leo Stan-Ekeh has secured another breakthrough in her expansion as one of her subsidiary,Zinox Technologies emerged telecom company to provide Infrastructures(Infracos) in the South-east zone. This was.....
TStv promises new roll-out date
The Management of TStv, the much awaited indigenous Satellite TV, inaugurated on October 1, said the decoders would be in the market within the next one week for all intending customers to buy. Mr Ernest Essien, TStv’s Public Relations Officer, disclosed on Friday in Abuja. Nigerians have been querying why the satellite TV.....
Nigeria grants tax holidays to 27 new industries
The Federal Executive Council on Wednesday approved 27 new industries and products to enter into the pioneer status to give tax holidays to them for three years, to enable them grow and expand investments. The list was last reviewed in 2006 and the approval was to bring the industrial policy.....
No concession of Port Harcourt refinery, Kachikwu says
The Senate and the federal government have resolved to revamp the Port Harcourt Refinery as against rumoured plans to concession the facility. The Chairman, Senate’s Ad Hoc Committee on Planned Concession of the Refinery, Abubakar Kyari, made this known at a public hearing on the issue in Abuja on Thursday......
Etisalat rejigs after the consortium of banks forced directors out over debt
The customers on Etisalat network would heave a sigh of relief following Centra Bank of Nigeria and the National Communication Commission intervention over the $172 Million debt by mobile communication firm. Read the full text: Read the full statement by the spokesperson below. Etisalat Nigeria today confirms that as a.....
FG appoints Okpanachi MD of Development Bank of Nigeria
FormerDeputy Managing Director and Deputy Chief Executive Officer of Ecobank Nigeria Limited, Mr Tony Okpanachi has been appointed the Managing Director and Chief Executive of the newly-licensed Development Bank of Nigeria (DBN). Okpanachi will be supported by the Chief Financial Officer, Mrs. Ijeoma Ozulumba and Chief Risk Officer, Mr......
Nigeria Customs Owerri records seizures worth N4.7 billion in 2016 – Comptroller
The Nigeria Customs Service, Federal Operations Unit, FOU, Zone ‘C’ Owerri, said it recorded a total seizure of 307 contraband worth N4.75 billion in 2016. The figure is a combination of both the Duty Paid Value, DPV, of N3.98 billion for the contraband and N770. 34 million being an underpayment.....

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