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Dangote sells noodles firm to Indomie noodles maker, Dufil Prima Foods

Dangote Flour Mills has exited the noodles business and sold its assets to Dufil Prima Foods, makers of Indomie noodles, saying it no longer consider it as strategic.... Read more


CBN reintroduces charges on cash deposits, withdrawals

The Central Bank of Nigeria on Thursday announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals.... Read more


MMM Nigeria sets fund withdrawal limit for participants

Operators of Mavrodi Moneybox Mundial (MMM) Nigeria have set a temporary fund withdrawal limit for its participants as the level of investment in the alleged Ponzi scheme dipped since its return from a one-month hiatus on January 13.... Read more


Nigeria’s CBN may legalise use of Bitcoin for transactions

Alhaji Umaru Ibrahim, the Managing Director, Nigeria Deposit Insurance Commission (NDIC), on Friday said the commission and CBN had set up a committee to look into the trending digital currency, Bitcoin.... Read more


MMM founder accuses media of causing panic among participants

As subscribers await the resumption of operations of Mavrodi Moneybox Mondial (MMM) Nigeria in January 2017, the founder of the Ponzi scheme Sergey Mavrodi has accused the Nigerian press of deliberately "fueling hysteria around MMM and causing panic."... Read more


MMM denies crash report, says scheme still alive

The operators of Mavrodi Mondial Moneybox (MMM) in Nigeria have denied reports that the reports that the alleged Ponzi scheme has crashed.... Read more


MMM founder writes Nigeria government, says scheme not a scam

Against the backdrop of persistent warnings from government organs to Nigerians against participating in the Mavrodi Mondial Moneybox, the founder of the scheme said the alleged Ponzi was not a scam.... Read more


CBN warns banks against charging double digit interest rates

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has warned Participating Financial Institutions (PFIs) in the country against charging double-digit interest rate on intervention funds guaranteed by the CBN.... Read more


Clamp down on BDCs forces forex transaction underground

Foreign currencies transaction at the Bureau de Change (BDC) segment of the foreign exchange market has been stifled since the clamp down on the operators by security agencies.... Read more


Security agents raid forex black operators to stop slide of naira

Security agents raided the offices of black market currency dealers on Thursday, detaining some and ordering others to sell dollars at a lower rate in a bid to break the fall of the currency, Reuters reported.... Read more


Dangote Group expands investments into agriculture, mining

The Dangote Group has expanded its investments into agriculture and mining, Mansur Ahmed, Executive Director, Corporate Communications of the group, said in Kano.... Read more


Reps ask security agencies to arrest MMM promoters

The House of Representatives on Wednesday asked the Economic and Financial Crimes Commission and the Central Bank of Nigeria to immediately go after the promoters Mavrodi Mondial Moneybox, otherwise known as "MMM" in Nigeria.... Read more


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Corps members to access loan for 2017 farming season - NYSC
The Director-General, National Youth Service Corps (NYSC), Brigadier-General Suleiman Kazaure, said on Thursday that arrangements were being made to e....
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Osun: Newly registered voters won’t vote to replace Sen. Isiaka Adeleke - INEC
The Independent National Electoral Commission, (INEC) has said that the old voters’ register would be used for the bye-election in the Osun West....
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No $1.2 billion in my bank account - Lai Mohammed
The Minister of Information and Culture, Alhaji Lai Mohammed says the report that he has 1.2 billion dollars (about N400 billion) in his bank account ....
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NDLEA arrests police van with Indian hemp in Kano
Operatives of the Nigeria Drugs and Law Enforcement Agency (NDLEA) yesterday intercepted a suspected police van loaded with over 700 tonnes of India h....
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Court rejects plea bargain for INEC official
A Federal High Court in Lagos on Thursday held that a plea bargain agreement between the EFCC and an INEC official charged with money laundering, cann....
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Goodluck Jonathan blames Barack Obama for 2015 election defeat
Nigeria’s Goodluck Jonathan has blamed Barack Obama for his 2015 presidential election defeat to Muhammadu Buhari, alleging the former US presid....
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