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All posts by BusinessNews Staff

  • New code will separate roles of Chairman and CEO – NCC

    The new Code of Corporate Governance for the telecoms sector is targeted at separating the roles of the chairman from that of the Chief Operating Officer (CEO) of all licensed telecommunications company, the Nigerian Communications Commission (NCC),...

    • Posted July 1, 2016
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  • Seni Adetu appointed Fidelity Bank’s Non-executive Director

    Fidelity Bank Plc has announced the appointment of Chief Seni Adetu, as an Independent Non-executive director of the bank. Adetu, the immediate past Managing Director of Guinness Nigeria Plc, according to a statement from the bank brings...

    • Posted July 1, 2016
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  • Kachikwu signs $80bn oil and gas infrastructure deals in China

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has signed Memorandums of Understanding (MoUs) with several Chinese firms for over $80 billion new investments, spanning five years, in the oil and gas industry covering pipelines,...

    • Posted July 1, 2016
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  • CBN, Citibank execute first naira-settled OTC FX Futures of $20m

    The first Naira-settled over-the-counter (OTC) foreign exchange (FX) Futures on the FMDQ OTC Securities Exchange was yesterday executed between the Central Bank of Nigeria (CBN) and Citibank Nigeria Limited. Although the FMDQ which disclosed this on its...

    • Posted July 1, 2016
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  • Credit growth likely to weaken on naira depreciation

    Given the depreciation of the naira exchange rate and the liberalisation of the forex market, credit growth is likely to remain subdued this year, a report has stated. Given the relatively weaker macro environment, the report, “Nigerian...

    • Posted June 30, 2016
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  • NAICOM to sample blueprint of RBS next month

    Determined to reposition the insurance industry to attain the global best practices status, the National Insurance Commission (NAICOM), said it will in July this year, expose the draft of its much talked about Risk Based Supervision (RBS)...

    • Posted June 30, 2016
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  • Banks recorded N18bn fraud cases in 2015 — NDIC

    The banking sector recorded 12,279 fraud cases involving the sum of N18.02bn in the 2015 financial period, the Nigeria Deposit Insurance Corporation disclosed on Tuesday. The corporation, in its 2015 annual report and statement of account for...

    • Posted June 30, 2016
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  • We will ensure diligent privatisation process, says Osinbajo

    The Presidency on Tuesday said it would ensure that the process of privatisation of public enterprises was undertaken diligently. Vice President Yemi Osinbajo said this while granting audience to members of the House of Representatives’ Committee on...

    • Posted June 30, 2016
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  • Nigeria’s economic growth rests on financial discipline, others – Adeosun

    The Minister of Finance, Mrs. Kemi Adeosun, monday said if Nigeria was to achieve sustainable economic growth, it needed a planned approach to financial discipline, targeted investment and economic diversification. Adeosun also said state governments in the...

    • Posted June 29, 2016
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  • How DPR undervalued NNPC’s 8 oil blocks – NEITI

    The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio has explained how the Department of Petroleum Resources (DPR) undervalued eight Oil Mining Leases (OMLs) belonging to the Nigerian National Petroleum Corporation (NNPC)....

    • Posted June 29, 2016
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