The Senate passed the 2012 budget on Thursday with higher expenditure than the finance minister advised, risking further delays to implementing spending plans if President Goodluck Jonathan refuses to approve them. Spending plans for Africa’s second largest economy have...

BUA International Group, one of the leading local conglomerates, is set to join the league of major pasta producers in the country, following a $50m (N8.1bn) investment in its production plant. The Group Chief Operating Officer, BUA...

The investigation by the House of Representatives of the Nigerian Capital Market took a dramatic twist on Thursday as the Director-General of the Securities and Exchange Commission, Ms. Arunma Oteh, accused the Chairman, House Committee on Capital...

The Minister of State for Finance, Dr. Yerima Ngama, has confirmed Nigeria’s application for a $ 670 million interest-free loan from the Islamic Development Bank (IDB). The loan application which is currently being debated by the National...

The Central Bank of Nigeria (CBN) appears to be partially retracing its steps on the controversial Cashless Nigeria project which is slated to kick off in Lagos in two weeks. The CBN has divulged that the transaction...

First City Monument Bank (FCMB) warned on Thursday it expected to report a net loss of up to 9 billion naira ($57 million) for last year, knocking its share price. “We will be posting a loss for...

Land in Cameroon’s port city of Douala allocated to Nigeria’s Dangote Cement Plc  to build a manufacturing plant belongs to the municipality and a cultural group and can’t be given out, a government official said. Members of the ethnic Douala...

The Nigerian Stock Exchange plummeted further in trading today, compounding on yesterday’s losses due to selling pressure on several bluechip stocks including the bourse’s juggernaut, Dangote Cement. The banking sub-sector was skewed largely towards the bears as...

The Nigerian Communications Commission (NCC) on Wednesday sealed the Lagos office of Techno, a mobile phone manufacturer, over alleged production of uncertified products. Mr Efosa Idehen, the NCC Head of Enforcement Unit, told journalists that followed the...

Indications emerged Wednesday that the N4.648 trillion 2012 federal budget may finally scale through the Senate’s legislative mill Thursday, as senators warm up for its passage. The final report on the budget was to have been presented...