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All posts by BusinessNews Staff

  • No bank is distressed – CBN insists

    The Central Bank of Nigeria on Thursday said no Deposit Money Bank in the country was in distress, insisting that they were all adequately capitalised. The CBN’s position came on the heels of a report by an...

    • Posted November 28, 2015
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  • Virgin Atlantic: Reps summon ministers over job losses

    The House of Representatives on Thursday summoned the Minister of Labour/Employment, Dr. Chris Ngige, and the Minister of State for Aviation, Mr. Hadi Sirika, over the decision of Virgin Atlantic Airways to lay off its Nigerians crew...

    • Posted November 28, 2015
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  • FG to establish N4.98tn infrastructure fund — Adeosun

    The Federal Government plans to set up a $25bn (N4.98tn) fund dedicated to infrastructure investments, the Minister of Finance, Mrs. Kemi Adeosun, has said. She said this on Thursday in Lagos during the inauguration of the Capital...

    • Posted November 28, 2015
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  • Stocks rise from nine-month low after rate cut

    Stocks recovered from a nine-month low on Wednesday to gain 0.24 per cent after the Central Bank of Nigeria’s announcement on Tuesday of a surprise interest rate cut aimed at stimulating lending in the nation’s economy. The...

    • Posted November 27, 2015
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  • IPMAN seeks quick passage of supplementary budget

    The Independent Petroleum Marketers Association of Nigeria has appealed to the National Assembly to quickly pass the supplementary budget submitted by the Presidency. The Assistant National Secretary of the association, Alhaji Ahmed Fashola, made the appeal in...

    • Posted November 27, 2015
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  • NCAA bars five marketers from supplying aviation fuel

    The Nigerian Civil Aviation Authority has suspended five oil marketing companies from supplying aviation fuel, also called Jet A1, to local and foreign airlines operating in the country due to lack of depot facilities. The companies are...

    • Posted November 27, 2015
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  • FG spends N194bn on capital projects

    The Federal Ministry of Finance said on Wednesday that N194bn had been spent on capital projects between January and September this year. It also put the amount spent on overheads in the same nine-month period at N272bn....

    • Posted November 27, 2015
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  • We will meter all customers in three years — Amoda

    Oladele Amoda is the Managing Director, Eko Electricity Distribution Company. He speaks about the financial, metering and operational challenges facing the company in this interview with STANLEY OPARA You were part of the defunct Power Holding Company...

    • Posted November 27, 2015
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  • First Bank backs SMEs

    First Bank of Nigeria Limited has launched a campaign aimed at helping Small and Medium Scale Enterprises to grow their businesses with diverse product and service offerings. The bank said the move was in line with its...

    • Posted November 26, 2015
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  • Reps say banks frustrating cashless policy, seek review

    The House of Representatives on Tuesday called on the Central Bank of Nigeria to review its cashless policy on the grounds that operators, including commercial banks, were frustrating its smooth implementation. The House noted that Nigerians were...

    • Posted November 26, 2015
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