Manufacturing sector expands for 18 consecutive months

The manufacturing sector in Nigerian expanded for the eighteenth consecutive month in September, indicating economic growth through increased spending by manufacturers. The Purchasing Managers Index (PMI) released by the Central Bank of Nigeria (CBN) showed that in September, the Manufacturing PMI stood at 56.2 index points, indicating an expansion in manufacturing during the period. However, […]

Anti-graft heat turns on banks

Banks supporting graft will be sanctioned in Kenya In a renewed battle against corruption, the Central Bank of Kenya (CBK) has issued a stern warning that it would sanction any banks handling proceeds of graft. The Central Bank of Kenya (CBK) Governor Patrick Njoroge said on Thursday that the banks will face stiff sanctions. He […]

72-year-old man killed over palm fruits in Enugu

Harvested palm fruits By Maureen Ojinaka The Police Command in Enugu State has begun investigation into the alleged killing of a 72-year-old man following a dispute over palm fruits in Amansiodo-Oghe community in Ezeagu Local Government Area of the state. The Police Public Relations Officer of the Command, SP Ebere Amaraizu, said in a statement […]

Delta eyes oil palm to boost economy

Oil palm By Ifeanyi Olannye Delta Governor Ifeanyi Okowa has kicked off a 3,000-hectare oil palm plantation owned by Norsworthy Farms and Allied Industries, as a major investment that would boost the state’s economy. At the ground-breaking for the plantation and processing plant at Akwukwu-Igbo, Oshimili North Local Government Area, Okowa said the project would […]

125 year-old jeans sells for $100,000

A portion of a pair of 125-year-old Levi Strauss & Co., denim blue jeans that sold for nearly $100,000 in May 2018 to a buyer in Asia. A pair of 125-year-old jeans has sold for nearly 100,000 U.S. dollars, setting a record for vintage denim, U.S. media said Saturday. The pants, manufactured by Levi Strauss […]

Facebook shares fall, Zuckerberg loses $5b

Facebook shares stumble in Wall Street over personal data violations Facebook shares plunged Monday as the social media giant faced an onslaught of criticism at home and abroad over revelations that a firm working for Donald Trump’s presidential campaign harvested and misused data on 50 million members. On Wall Street, Facebook shares skidded 6.8 percent […]

CPC intervenes for Nigerians as Ford recalls 1.4m vehicles

Ford Motors By Folasade Folarin Mr Babatunde Irukera, Director-General, Consumer Protection Council (CPC) has called on Nigerians using Ford vehicles to contact the organisation following a recall in the U.S. of about 1.4 million vehicles by Ford Motor Company. Irukera who made the call in a statement on Monday in Abuja said the recall announced on […]

Dangote inaugurates multi-billion-naira rice processing plant in Jigawa

Africa’s richest man, Aliko Dangote on Thursday laid a foundation stone for the construction of a multi-billion Naira rice processing mill in Hadin, Jigawa state. Speaking at the ground-breaking ceremony in Hadin, Kaugama local government area, Dangote said the commencement of the construction of the integrated rice processing plant was the culmination of series of […]

Sterling Bank to seek for non-interest banking license – CEO

The outgoing Managing Director/Chief Executive Officer of the Sterling Bank Plc, Mr. Yemi Adeola, has revealed plans for the bank to seek a license for a stand-alone Non-Interest Bank (NIB) as soon as possible. Speaking at a visit to the Nigeria Deposit Insurance Corporation (NDIC)  management in Abuja, Adeola said the decision was informed by […]