Business

Heritage Bank Faces Imminent Collapse

Heritage Bank Faces Imminent Collapse

Business June 18, 2019 at 10:59 am 0 comments

It looks as if Nigerian commercial bank – Heritage Bank aren’t out of the woods yet, amidst recent financial struggles.
Fresh reports have seen the light of day and this indicates the following as some of the clangers made by the bank

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Failed gas deal: British firm seeks seizure of $9bn Nigerian assets

Failed gas deal: British firm seeks seizure of $9bn Nigerian assets

Business, News June 14, 2019 at 8:19 am 0 comments

A firm incorporated in the British Virgin Islands , Process and Industrial Developments Limited , will ask a British court on Friday ( today ) for the right to seize up to $ 9bn of Nigerian government assets over an aborted gas project.
The request is part of a long

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16 Commercial Banks Fail to Remit N1.6bn to FG —Reps

16 Commercial Banks Fail to Remit N1.6bn to FG —Reps

Business May 24, 2019 at 8:40 am 0 comments

The House of Representatives has recommended that 16 commercial banks be penalised for not remitting N1.6 billion stamp duties into the federation account.
The House made the recommendation on Thursday when it adopted a report on non-remittance of trillions of naira of stamp duties by financial institutions into the federation

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CBN gov sets up panel to revive 50 textile firms

CBN gov sets up panel to revive 50 textile firms

Business May 17, 2019 at 9:05 am 0 comments

The Central Bank of Nigeria is targeting to revive at least 20 textile companies before the end of the 2019 fiscal period.
The move is contained in the technical cooperation proposal for revamping the cotton , garment and textile sector in Nigeria .
The proposal was made available to our

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Senate Committee approves second term for Emefiele as CBN Governor

Senate Committee approves second term for Emefiele as CBN Governor

Business, News May 15, 2019 at 6:56 pm 0 comments

The Senate Committee on Banking, Insurance and other Financial Institutions on Wednesday approved a second term for the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele.
The committee also dismissed allegations of stolen N500 billion at the CBN.
Chairman of the Committee, Rafiu Ibrahim, said the allegations were targeted at

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Business: 130 textile firms died to lack of power, finance, others – Emefiele

Business: 130 textile firms died to lack of power, finance, others – Emefiele

Business May 8, 2019 at 9:34 am 0 comments

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has said that no fewer than 130 textile companies have died in the country in recent times due to some constraints.
Emefiele made the statement during a courtesy call on Gov. Aminu Masari of Katsina State on Monday.
‘’Textile

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