BUSINESS Ibrahim and others described the move by AMCON leading to the seizure order as an abuse of court processes. The Federal High Court sitting in Lagos has fixed Tuesday to hear an application by billionaire businessman, Jimoh Ibrahim, seeking to quash an interim order which authorised the Asset Management Corporation of Nigeria (AMCON) to Read more
BUSINESS When the count was read to him, the convict pleaded not guilty to the charge. The Economic and Financial Crimes Commission (EFCC) on Monday secured the conviction of a former employee of the Unity Bank Plc., Adam Adam, who was sentenced to one-year imprisonment. The EFCC spokesman, Wilson Uwujaren, in a statement, noted that Read more
BUSINESS The Nigerian naira continued its consistent depreciation and crashed to an over 3-year low against the dollar, closing at N500 per $1 at the parallel market on Monday. Newsheadline247 understands the Forex turnover dropped by 52.2%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N390.25/$1 during intra-day Read more
BUSINESS This is about N4 higher than the N386 per dollar which the apex bank had sold dollars to the BDC operators The Central Bank of Nigeria (CBN) has given directives to bureau de change operators in the country not to sell dollars higher than N392 to end users. This is made known in a Read more
…the reduction in import duties and levies is targeted at reducing the cost of transportation in the country. The federal government has concluded plans to reduce the levy being paid on imported cars from 35 percent to five percent. The import duty of tractors and other motor vehicles for the transportation of goods has been also Read more
AFRICA “It will help improve the capacity of National Public Health Institutes of Member States…” In response to a request by the Bureau of the African Union Heads of State and Government under the leadership of H.E. Cyril Ramaphosa, Chairperson of the African Union and President of South Africa, the African Development Bank (AfDB) has Read more
BUSINESS AMCON also commenced bankruptcy proceedings against Sayyu Dantata , the Chairman of MRS Holding Limited… Sayyu Dantata, the founder of MRS Holdings Limited, maybe facing tough moments as the Asset Management Corporation of Nigeria (AMCON) got a Federal High court order to freeze all the 21 bank accounts of his oil firm. The Corporation Read more
BUSINESS Newsheadline247 understands Standard Chartered research shows that almost two thirds (64 per cent) of the panel’s AUM is invested in the developed markets of Europe and North America, while just 3 per cent is in Africa. Asia… A Standard Chartered survey conducted between July and August 2020, amongst a panel of the world’s top Read more
The Benin Zonal Office of the Economic and Financial Crimes Commission (EFCC), on Wednesday, November 11, 2020, Philip Orumade, on a Nine counts charge bordering on stealing from Automated Teller Machine (ATM) belonging to First Bank of Nigeria before Justice Efe I. Ikponmwonba of the Edo State High Court, Benin City. Orumade was alleged to Read more
The Managing Director of ECO BANK, Mr. Patrick Akinwuntan has revealed that Ogun State is one of the leading lights in the country where ease of doing business is concerned assuring that his financial institution would continue to support and partner the State in all ramifications. Mr. Akinwuntan who made this known at the Executive Read more
