Category: Business

BREAKING: Recession Hits South Africa

Emporium Reporters

South Africa entered recession in the second quarter for the first time since 2009, according to data released on Tuesday by the country’s Statistician-General, Risenga Maluleke. The statistics show the economy contracted by 0.7 percent in the second quarter, led by declines in the agricultural, transport and retail sectors. Despite the prediction of analysts that the economy would grow 0.6 percent in the latest quarter, the rand instead stretched losses against the dollar to more than 2 percent while government bonds fell. “We are in a recession. We reported a…

Buhari to Merkel: We respect rule of law, international agreements

Emporium Reporters

President Muhammadu Buhari Friday in Abuja said his administration will always uphold the sanctity of the rule of law in governing the country, while assuring German Chancellor Angel Merkel that all agreements will be fully respected. President Buhari received the German Chancellor, who was accompanied by top government officials and a business delegation, at the Presidential Villa. In his remarks during a bilateral meeting, the President said unity and harmony in every society can only be preserved by observing the rule of law, and ensuring that agreements reached in good…

Illegal repatriation: MTN to refund $8.13bn as CBN fines 4 banks N5.87bn

Emporium Reporters

The Central Bank of Nigeria (CBN) has imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged illegal remittance of foreign exchange to offshore investors of MTN Nigeria Communications Limited. This is even as the CBN has directed MTN to refund 8.13 billion dollars which was illegally repatriated by the company with the aid of the four Nigerian banks. In a statement issued by the CBN on Wednesday, the nation’s apex bank accused the commercial banks of carrying out the transaction without regular ‘Certificates…

EXCLUSIVE: Buhari rejects PIGB, says it whittles down his power

Emporium Reporters

President Muhammadu Buhari has rejected the historic Petroleum Industry Governance Bill (PIGB) as passed by the national assembly, TheCable Petrobarometer understands. The proposed law, which was conceived to liberalise the governance structure of Nigeria’s oil industry, is one of the four bills in which the omnibous Petroleum Industry Bill (PIB) was broken into by the legislature after over a decade of motion without movement. TheCable Petrobarometer learnt that Buhari has sent back the bill to the national assembly on three grounds. One, Buhari said the bill, if signed into law,…

Aliyu Ilias,Other Customer Experience Management Experts Launch CEM Bundle 1.0 in Abuja

Emporium Reporters

Over the years, customer experience management service has become a secret to profit making in businesses as well as a tool for business sustainability. However, following several complaints consumers and further research through mystery shopping of organisations/companies and providers of goods and services, customer experience management experts convened by an Abuja based Customer service trainer, Dr Aliyu Ilias, came together to present the required system and activities to put in place in order to achieve excellent customer experience delivery called “The Customer Experience Management Bundle” CEM Bundle 1.0. In the…

NIGER PARTNERS ZENITH BANK ON 100 CAPACITY ICT CENTER

Emporium Reporters

Niger State Government and the Zenith Bank of Nigeria PLC have signed a Memorandum of Understanding (MOU) for building 100 capacity Information Technology Centre (ICT). Governor Abubakar Sani-Bello who signed the MOU at the Government House in Minna, the state capital assured that the state government would ensure continuous partnership with bank. The Governor noted that the project would go a long way to provide job opportunities for the teeming youths, improve the Internally Generated Revenue of the state and as well add value to the educational sector of the…

British Govt to support Osun in Agric , Education , other areas

Emporium Reporters

The British Government has expressed its readiness to collaborate with and complement the efforts of the Osun state government in the areas of education, agriculture, politics, tourism and infrastructure. The British High Commissioner, Mr Paul Arkwright, gave the assurance during a courtesy visit to Osun State Governor, Ogbeni Rauf Aregbesola, in Osogbo.‎ The envoy, accompanied by the Political Adviser at the ‎Deputy British High Commission in Lagos, Mr Wale Adebajo‎, said the British Government will do everything possible to support Osun economy by strengthening her potentials for the betterment of…

Aregbesola has provided opportunities for business to thrive in Osun- Obaleye

Emporium Reporters

An Osun industrialist and Chief Executive Officer of Yinka Oba Foams Nigeria Limited, Dr Eunice Olayinka Obaleye (MON), has lauded the administration of Governor Rauf Aregbesola for providing businesses the conducive atmosphere to succeed. The octogenarian business woman commended Governor Aregbesola for the tremendous achievements recorded in the last seven and half years, describing the feat as unprecedented in the history of the state since creation. Dr Obaleye made the statement while hosting the Governor and his entourage who were on a congratulatory visit to her residence in Ilesa, on…

Buhari approves retirement of CBN Deputy Governor, Adelabu

Emporium Reporters

CBN building President Muhammadu Buhari has formally accepted the disengagement of the Deputy Governor in charge of Operations at the Central Bank of Nigeria, Mr. Adebayo Adelabu, with effect from July 15, 2018. In a letter dated May 24, 2018 and signed by him, Buhari thanked Adelabu for his services to the country and wished him the best in his future ambitions. “While appreciating your services in the Central Bank of Nigeria since 9th, April 2014, I wish you the very best in your future ambitions and continued commitment to public service in our country…