The failure of an overhead power line in southern Germany has paralysed production at Europe’s largest BMW plant, in Dingolfing, a company spokesperson said on Monday.
Both the early and the late shifts were cancelled in the two assembly halls, with several thousand employees affected by the stoppage, the spokesperson...
The Central Bank of Nigeria has warned operators against paying recipients of diaspora remittances in local currency.
It warned that violators could lose their operational licences if they failed to comply with its guidelines on remittances.
The CBN said this in a circular to International Money Transfer Operators and Payment Service...
The Nigerian National Petroleum Corporation (NNPC), Shell, Total, and ENI on Friday signed the final investment decision (FID) to give the go-ahead for the construction of Train 7 of the Nigeria Liquefied Natural Gas (NLNG) project.
The FID was initially scheduled to be sealed last week Thursday. But, after two...
The Central Bank of Nigeria (CBN) has confirmed changes in the foreign exchange market.
In a statement on Wednesday night, Angela Sere-Ejembi, Director, Financial Markets, confirmed the changes.
She said all transactions will now be done through the Investors and Exporters (I&E) window, where the exchange rate will be determined by...
Zenith Bank, a leading financial institution, has announced the appointment of Adaora Umeoji as its new Group Managing Director and Chief Executive Officer (GMD/CEO). The appointment, set to take effect from June 1, 2024, was revealed in a corporate filing on the Nigerian Exchange Group (NGX) and signed by...
The Central Bank of Nigeria, CBN, has assured Nigerians that it was tackling the forex scarcity, even as it advised against succumbing to the speculative activities of some players in the exchange market.
The Director, Corporate Communications at the CBN, Osita Nwanisobi, while speaking with journalists on Friday in Abuja,...
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 Microfinance Banks (MFBs) whose operating licences were recently revoked by the Central Bank of Nigeria (CBN) with verification of their respective depositors.
This was disclosed in a statement signed by the Director, Claims Resolution Department of the Corporation,...
Nigeria’s premium soft drink brand, Fayrouz, has launched its new sleek 33cl can drink at an exclusive event which took place at the RSVP Restaurant, Victoria Island, Lagos.
Tagged ‘Find Your Difference’, the launch campaign celebrates drinkers who thirst for excitement and innovation, with the aim to be special and...
Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board.
Rabiu made the disclosure in an internal memo signed on Sunday in Lagos by Mr Mohammed Wali, BUA’s Head of Human Resources.
The memo quoted BUA chairman as saying...
The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow.
“There may be a cut that we are still hoping would be in the 0.1-0.2 percentage space,” the managing director of the International Monetary Fund, Kristalina...
