Money

Nigeria Anti Corruption War: FG promise whistle blowers 5% of recovered loot

  The Federal Government of Nigeria has taken the fight against corruption to a whole new level. The FG announced the approval of a five percent (5%) reward of recovered loot to any whistle blower who provides useful information leading to the recovery looted  funds. This policy  was made public by Nigeria’s Minister of Finance, Kemi… Continue reading Nigeria Anti Corruption War: FG promise whistle blowers 5% of recovered loot

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Nigerian University students who put their school fees in MMM cry out after it crashed

​ Many Nigerians are lamenting the unexpected freezing of all accounts and impendent collapse of popular ponzi scheme, MMM. Since the annoucement of the freezing of all mavros, those who risked their life savings or borrowed money in other to gain a 30% interest now have themselves to blame.Others who are anguishing are students who… Continue reading Nigerian University students who put their school fees in MMM cry out after it crashed

Money

Nigerian Lawmakers make moves to shut down MMM

Members of Nigeria’s House of Representatives on Wednesday ordered a clampdown on a ponzi investment scheme popularly known as ‘MMM.’ The Green Chamber mandated House Committee on Banking and Currency and Committee on Financial crimes to investigate the scheme. MMM (Melnikova Mavrodi Mavrodi) is a deposit money scheme  that originates from Russia. It yields 30 per cent interest on investment… Continue reading Nigerian Lawmakers make moves to shut down MMM

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Nigeria in Economic Recession: The Implications and Solutions

  Economists officially define a recession as two consecutive quarters of negative growth in Gross Domestic Product (GDP). The National Bureau of Statistics reported that in the first Quarter of 2016, the nation’s Gross Domestic Product (GDP) grew by -0.36% in real terms. This was lower by 2.47 points from growth recorded in the preceding… Continue reading Nigeria in Economic Recession: The Implications and Solutions

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Though times ahead for an ailing Skye Bank

  Following the take over of Skye Bank by the Central Bank of Nigeria (CBN) today and the resignation of the Chairman and the Managing Direcror/Chief Executive Officer many Nigerians are scared that they wont may loose their hard earned savings deposited at bank. This development has caused many customers to withdraw their money from… Continue reading Though times ahead for an ailing Skye Bank

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Why Zenith Bank Managers knelt down to beg Fayose

Following the freezing of Ekiti State Governor, Ayo Fayose’s bank account in Zenith Bank by the Economic and Financial Crimes Commission EFCC on Monday,  Branch Managers of Zenith Bank in Ekitii state paid Governor Ayo Fayose a visit to apologize for the embarrassment. What shocked everyone were pictures of the bank managers on their knees… Continue reading Why Zenith Bank Managers knelt down to beg Fayose

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Crude oil price rises to over $50 per barrel

The price of crude oil has risen to over $50 per barrel for the first time n 2016. This is cheering news for counties dependent on revenues from crude oil exports. Nigeria’s Brent crude now sells for $50.07, the highest price increase in 2016. The increase is  followed US data revealing a drop in crude inventories. This data shows that oil inventories… Continue reading Crude oil price rises to over $50 per barrel

Money · Politricks

“I handed over a Nigeria that produced the richest man in Africa” — Goodluck Jonathan

Former President of Nigeria Dr. Goodluck Jonathan has listed among his achievements while in office from 2009-2015, the emergence of Aliko Dangote as the richest man in Africa. While speaking at the Friends of Africa Coalition on ‘Strengthening Democracy and Elections’ in Newark, New Jersey, United States,  Dr. Jonathan said that by the time he… Continue reading “I handed over a Nigeria that produced the richest man in Africa” — Goodluck Jonathan

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Ziki Zobo: the emergence of an indigenous beverage

Not many young Nigerians dare to enter into the murky waters of entrepreneurship. Almost every Nigerian drinks Zobo but not many have thought about proper packaging and producing it in an industrial scale. Kizito Umeatuenyi from Enugu state is  young Nigerian who  saw opportunity where no one did. He launched a zobo drink that is… Continue reading Ziki Zobo: the emergence of an indigenous beverage

Money · News

No more money for Nigerian Senators – Banks reject their demand for loans

Nigerian commercial banks have r ejected pleas by some senators to access loan facilities as was previously enjoyed. The Senators are in a tight situation as they are yet to receive their salaries since their inauguration on June 9, except for a N6 million housing loan. We all know that N6 million can not get… Continue reading No more money for Nigerian Senators – Banks reject their demand for loans

Money · News · Politricks

Former Lagos governor Babatunde Fashola Spent N78.3 million of tax-payer’s money on his personal website

There are reports that immediate Lagos state governor Babatunde Fashola spent N78.3 million of public funds to build his personal website. An over bloated contract??? The $400,000 contract was said to be awarded to tech company Info Access Plus Limited in 2014 The story has caused some outrage as most tech analysts believe the website… Continue reading Former Lagos governor Babatunde Fashola Spent N78.3 million of tax-payer’s money on his personal website

Money · News

Diamond Bank renders a public apology to Abike Dabiri over false N100 million dept

The management of Diamond Bank has rendered an apology to Abike Dabiri after they erroneously published her name as one of the customers heavily indebted to the bank. It almost rained fire and brimstone when the management of Diamond Bank PLC included the name of former House of Representatives member in the bank’s long list… Continue reading Diamond Bank renders a public apology to Abike Dabiri over false N100 million dept