FG to borrow dormant account balances, unclaimed dividends

Unclaimed dividends and bank account balances unattended to for at least six years will available as special credit to the federal government through the Unclaimed Funds Trust Fund  According to the Finance Act 2020 recently signed into law by President Muhammadu Buhari, the trust fund will be a sub-fund of the Crisis Intervention Fund. “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and… Continue Reading

Nigeria’s poultry industry may shut down as prices of livestock feeds jump 100% in 9 months

The Poultry industry is set to shut down production by January next year, unless urgent steps are taken to save the situation. This is in connection with the astronomical rise in prices of maize and soybeans— the main components of feed used for poultry production. A ton of maize, which, hitherto, sold for N85,000 one year ago, currently costs between N145,000 and N160, 000; while the price of soybeans has… Continue Reading

BREAKING: FG slashes petrol price, to sell at N121.50 per litre in June

                               The Petroleum Products Pricing Regulatory Agency (PPPRA) has reduced the retail pump price of petrol to N121.50 per litre from the present N123 per litre. The regulatory agency announced the new retail price band to marketers in a May 31 circular seen by TheCable on Monday. More to follow…

Develop Homegrown Solutions, Human Capacity and Invest in Agriculture to Rebuild Africa; Experts say at UBA Africa Day Conversations

·       Prioritise SMEs Development ·       Advocate Partnerships between Private Sector and Government African thought leaders and great minds have noted that the development of homegrown solutions and adequate investment in human capacity building and agricultural expansion are key steps that will help to rebuild Africa and put the continent on a stronger footing post Covid-19.  Analysing the theme ‘Domestic Policies, Regional Development and a Global Agenda: SDGs and African Development… Continue Reading

Post Covid19: Global Leaders at UBA Africa Day Conversations Seek Path To Economic Recovery

…..Global co-operation needed to stem global depression                                                  Global leaders at the second edition of United Bank for Africa (UBA) African Day Conversations, have emphasised the need for meaningful collaborations between governments and the private sector as a panacea for the quick recovery of the economy of… Continue Reading

Photo News :Heritage Bank Team at Russia-Africa Summit

In a bid to support the nation’s economic drive, the Management of Heritage Bank Plc joined other Corporates and government agencies to brainstorm on the way forward for the African continents. R-L: Wale Tinubu, Group Chief Executive, Oando Plc; Timi Alaibe, Non-Executive Director, Heritage Bank Plc; Chris Oshiafi, Group Managing Director of Pan African Capital Holdings; Ifie Sekibo, MD/CEO, Heritage Bank and Demetrios Halios, President/CEO of Halios Capital, at the… Continue Reading

SEC Dismissal: Fraudulent Wale Tinubu’s Many Lies

The current predicament of Wale Tinubu, the controversial Group Chief Executive Officer (GCEO) of Oando PLC by the Securities and Exchange Commission (SEC), has only portrayed the popular parlance of ‘everyday for the thief, one day for the owner.’ On Friday, the SEC announced the dismissal of Wale Tinubu and other directors of Oando over allegations of infractions such as false disclosures, market abuses, mis-statements in financial statements, internal control… Continue Reading

Davos: Africa boosts free trade while global barriers go up

A new African free trade area could be just weeks away as the last few countries ratify an agreement signed last year. The plan to boost intra-African trade by half is gaining much attention in Davos this year. When you ask Tony Elumelu if Africa would profit from free trade, the Nigerian entrepreneur and philanthropist does not have to think long. “If we look at other parts of the world,… Continue Reading

Minimum wage: NLC distances self from FG’s Advisory Committee

The Nigeria Labour Congress (NLC) has distanced itself from the Federal Government’s Advisory Committee saying it has no relevance to the new National Minimum Wage agreement. Mr Ayuba Wabba, NLC President, who spoke in an interview with the News Agency of Nigerian (NAN) on Thursday in Abuja, said the committee has no bearing with the agreement reached on the minimum wage. NAN recalled that President Muhamamdu Buhari had on Wednesday… Continue Reading

New CBN Policy: Over 40,000 Nigerians to Lose Job

There are strong indications that the new Central Bank of Nigeria (CBN) rule excluding some essential raw materials from the list of items valid for forex will in no time lead to the lay-off of over 40,000 Nigerians who work in the manufacturing sector, analysts say. According to the Central Bank of Nigeria (CBN), the policy is intended to sustain the stability of the foreign exchange market, “resuscitate local manufacturing”… Continue Reading

Hard Times Fall on Julius Berger, Other Construction Companies

Heavyweight firms like Julius Berger and other construction companies are not spared of the raging economic recession that has plagued Nigeria since the President Muhammadu Buhari government took over in 2015. Construction stocks are not feeling the impact of the federal government’s acclaimed expenditure on the infrastructure. Julius Berger and Roads Nigeria Plc, both listed in the Infrastructure Heavy Construction sector of the Nigerian Stock Exchange have their stocks currently… Continue Reading


TONY ELUMELU FOUNDATION (TEF) HOSTS VIBRANT SESSION WITH NEARLY 2,000 ENTREPRENEURS  French President Emmanuel Macron offered a bold and new vision of France’s relationship with Africa, speaking to Tony Elumelu Entrepreneurs in Lagos today. He passionately advocated a new partnership, prioritizing the role of entrepreneurship in driving Africa’s renaissance, highlighting the importance of the private sector and urging the creation of a business ecosystem that leverages Africa’s vibrant private sector… Continue Reading

Transcorp Committed to Significantly Increasing Power Generation in Nigeria.

……Chairman Elumelu states “Transcorp will light up Nigeria”. At the 11th Annual General Meeting of Transnational Corporation of Nigeria Plc(“Transcorp”), the Board ofDirectors confirmed their confidence in Transcorp’s growth trajectory and affirmed the Company’s commitment to increasing yield and returns to shareholders, while continuing its significant capital investment strategy. Despite the difficult economic climate, revenue grew by 46% in 2017(N59.42bn). Transcorp is Nigeria’s leading listed conglomerate, active in the power,… Continue Reading

TONY O. ELUMELU LEADS HIGH-LEVEL TEAM TO WORLD ECONOMIC FORUM IN DAVOS Team Includes Consortium of Heirs Holdings Group Executives

Philanthropist and serial entrepreneur Tony O. Elumelu, CON leads a delegation of senior executives from his proprietary investment firm, Heirs Holdings, to the World Economic Forum (WEF), which begins in Davos, Switzerland today. Elumelu will join global business and political leaders during the event, bringing a message of Africa’s continued economic renaissance and of the critical role that Africa’s private sector is playing in the continent’s transformation. Heirs Holdings executives… Continue Reading


Nigerians have angrily reacted to the news of the budget presentation by the country’s number one man. Unbelievable as it may sound, the figure to be spent on fixing the mess the country is presently in is a staggering 7.3 trillion Naira according to the President Mohammad Buhari just as the budget of 2016 has failed to bring the country out of the doldrums.President Mohammad Buhari whilst presenting the 2017… Continue Reading


….how Presidency allegedly mounts pressure on him to rescind his decision. It’s no longer news that three months after he was nominated by President Buhari as the Chairman of Nigeria Electricity Regulatory Commission, Prof. Akintunde Akinwande is yet to confirm that he is ready to take up the appointment. However, the absence of the Massachusetts Institute of Technology (MIT) professor to appear before the senate committee on power for screening… Continue Reading

Elumelu: “We give to empower and break the cycle of dependency. Entrepreneurship is the only path to independence and sustainability.”

President Koroma of Sierra Leone, President Obasanjo of Nigeria, Governor Ikpeazu, Minister Lai Mohammed, Mrs Folorunsho Alakija, Join 1,000 African Entrepreneurs At 2016 Tony Elumelu Foundation Entrepreneurship Forum. • Foundation Announces Partnerships with African Development Bank, ECOWAS, Coca-Cola, Nigerian Ministry of Information. —- At the largest annual gathering of African entrepreneurs, held in Lagos, Nigeria, the Tony Elumelu Foundation (TEF) hosted almost 1,000 women and men from 54 African countries,… Continue Reading

Nigerians lambast Africa richest man…Says he’s greedy

As the economic hardship facing Nigeria rages on, Alhaji Aliko Dangote, the country and African richest business man, has incurred the wrath of Nigerians for making an unpopular advice to the Federal Government to sell off the Nigerian Liquified Natural Gas company, NLNG.    The multi-billionaire business mogul has been receiving torrents of backlash from Nigerians on social media after he stated in a recent interview with CNBC Africa that… Continue Reading

Much Ado about NiTel/MTel Sale to NatCom

On October 8, 2016, ntel, Nigeria’s fifth mobile network and, according to their website and social media platforms, Nigeria’s first pure play 4G/LTE advanced network will celebrate 6 months since the commencement of commercial operations on 08-04, 2016. In those 6 months, ntel has attained full network coverage in Abuja, across large swathes of Lagos and then parts of Ogun, Nassarawa and Niger states. It has launched full VoLTE services,… Continue Reading


Recently the public space was agog that the regime of former President Goodluck Jonathan granted waiver to some privileged Nigerians to the tune N215b. The waiver beneficiaries included operators and individuals in the gas sector, agriculture, health, mines and steel and “other sectors”. One of the privileged Nigerians that got this waiver which was said to have been granted during visits to the former president at nights by these well… Continue Reading

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