All posts by BusinessNews Staff

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  Bank customers lost N2.25bn to fraudsters in 2015 – CBN

  Bank customers lost the sum of N2.25bn to fraudsters in 2015 despite a significant fall in the value of financial frauds recorded last year, data from the Central Bank of Nigeria and the Nigeria Inter-Bank Settlement System...

  • Posted April 3, 2016
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  Adeosun at G20 in Paris, calls for inclusive growth for Africa

  The Minister of Finance, Mrs. Kemi Adeosun has advocated for sustainable and inclusive growth for Africa while speaking at a high level G20 seminar of finance ministers in Paris, France Thursday night. At the G20 Summit, the...

  • Posted April 3, 2016
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  Julius Berger Nigeria’s profit dips 70% on lull in construction sector

  The lull in the construction sector of the Nigerian economy has impacted negatively on the operations of Julius Berger Nigeria (JBN) Plc,  leading to a dip of 70 per cent in profit after tax(PAT) for the year...

  • Posted April 2, 2016
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  Nigeria nominates former NNPC boss, Barkindo as next OPEC Secretary

  Nigeria has nominated Mohammed Barkindo, a former head of Nigerian National Petroleum Corporation (NNPC), as the next secretary general of producer group OPEC, a government official said on Thursday. The Organisation of the Petroleum Exporting Countries (OPEC),...

  • Posted April 2, 2016
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  Fuel scarcity, low investment lead to decline in labour productivity in Q4 – NBS

  Reflecting the economic downturn, labour productivity in the country declined to N706.95 per hour/annum in the fourth quarter of last year from N768.42 in the previous quarter, the National Bureau of Statistics (NBS) stated on Thursday. Labour...

  • Posted April 2, 2016
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  NNPC targets 650,000bpd refining capacity, opens bids for co-location of plants

  In its bid to reduce fuel importation in the foreseeable future, the Nigerian National Petroleum Corporation (NNPC) has said that nine companies have submitted bids for the co-location of new refineries within the complexes of its three...

  • Posted April 2, 2016
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  Why FG should privatise 22 airports – Ex-FAAN MD

  The former Managing Director of the Federal Airport Authority of Nigeria (FAAN), Mr. Richard Aisuebeogun, has urged the federal government to privatise the 22 federal airports under the management of the agency (FAAN). According to Aisuebeogun, aside...

  • Posted April 2, 2016
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  GTBank targets N125bn profit in 2016

  Despite the challenging economic environment, Guaranty Trust Bank Plc says its plan is to make N125bn in the 2016 financial year. The lender reported N120.7bn and N116.4bn profit before tax in the 2015 and 2014 financial year,...

  • Posted April 2, 2016
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  Fashola resolves Geometric Power, Enugu Disco’s dispute

  The Minister of Power, Works and Housing, Babatunde Fashola, has resolved the lingering dispute between Geometric Power and Enugu Electricity Distribution Company that has hampered the delivery of electricity in the Aba and Araria axis of Abia...

  • Posted April 2, 2016
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  Eight power plants shut, zero generation recorded for hours

  Eight of the nation’s power generating plants were completely idle on Thursday, with significant reduction in output from others, including Egbin, which is located in Lagos. The plants, which did not generate any megawatts of electricity, included...

  • Posted April 2, 2016
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