Business articles

Internet outage looms in Nigeria as MainOne cable develops fault

Internet outage looms in Nigeria as MainOne cable develops fault

Some Nigerians are likely to face internet service disruption and possible outage as a major provider announced Tuesday that its submarine cable would be out of service for 14 days due to a fault. The Chief Executive Officer of MainOne, Funke Opeke, said in a statement that the company experienced a fault on its submarine

N541 billion Debt: Access Bank, others take over Etisalat Nigeria

A consortium of banks, led by Access Bank PLC and other Nigerian and foreign banks, has taken over the management of Etisalat Nigeria, effective June 15. The takeover followed the collapse of the effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with

FG To Release N350bn For Capital Projects

The Federal Government plans to release a total of 350 billion Naira for capital projects across the country. Speaking at the public presentation of the 2017 Appropriation Act in Abuja, the Minister of Finance, Mrs Kemi Adeosun said this will address the infrastructural needs in the country.   Mrs Adeosun also said other capital releases

My Success Story, a Model for Youths –Tope Agbeyo, Chairman, Cornfield Group

Tope Agbeyo is Chairman, Cornfield Group, which comprises Media Concepts International Limited, Botosoft Technologies Limited, Cornfield Transnational Limited and FOAM Studio Nigeria Limited. According to the Ekiti born business mogul, his success in business, over the years, is only a result of his passionate quest to meet basic needs of people, especially in the education

CBN: $2.2b foreign capital inflow boosts equities

The Central Bank of Nigeria (CBN) has linked the current upbeat performance in the Nigerian Equities market to the inflow of $2.2 billion foreign capital from portfolio investors. The cash came in through the special Investors/ Exporters (I&E) Forex Window launched last April, according CBN Director, Banking Supervision, Abdullahi Ahmad. The creation of the special

Fiscal Sustainability Plan: World Bank Set to Assist Nigeria

The World Bank Group is set to assist state governments improve their fiscal sustainability by strengthening and consolidating the Fiscal Sustainability Plan. The development was confirmed by a statement issued on Friday by the Director of Information in the Federal Ministry of Finance, Salisu Dambatta. The FSP was introduced by the Federal Government in 2016