TAX: Chinese Firm, WEMPCO, Grounded Over N200m Debt   The placement of a lien on the accounts of a Chinese firm, Western Metal Products Company, popularly known as WEMPCO Steel Mill Limited, for non-payment of a N200m tax may have forced the firm into temporary closure. Investigation...

Chinese Mining Activities In Nigeria Not Beneficial, Minister Says   The Federal Government has frowned on China’s domination of the Nigerian mining sector, noting that the development had not helped the country’s economy. Chinese businessmen and firms, alongside other Asians, are the major players in the exploitation...

Nigeria Bleeding Under Chinese, Foreign Loans – Duke   The Social Democratic Party presidential flagbearer, Donald Duke, has expressed concern over the growing indebtedness of the nation to China and other countries, stating that Nigeria is haemorrhaging under foreign loans. Stating that the government needed to indigenise...

Chinese Investments In Nigeria Telecoms Hit $16bn China’s increased involvement in the African telecommunications industry is part of amultidimensional engagement in the continent to serve its broader strategy to enhance itsglobal standing, counter Western influence and to obtain resources and new exportmarkets to feed its...

CBN To Commence Bi-weekly Auction Of Chinese Yuan   Following the $2.5 billion bilateral currency swap agreement signed last month between the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC), the CBN Thursday announced plans to start bi-weekly auctions of the Chinese...

Chinese Auto firms' Shares Dip Shares in top Chinese manufacturing companies plunged on Wednesday after Beijing announced plans to phase out ownership limits for foreign automakers, shipbuilders and aircraft firms. The country will this year end shareholding limits for new energy vehicle firms such as...