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All posts by BusinessNews Staff

  • FG will reacquire failed power firms for $1 – BPE

    The Federal Government will take back the power firms privatised in 2013 from their buyers for $1 if they continue to perform below expectation and do not comply with notices from the Bureau of Public Enterprises to...

    • Posted November 20, 2015
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  • Dangote remains Africa’s richest

    Forbes has rated the President of the Dangote Group, Aliko Dangote, as Africa’s richest person for the fifth consecutive year. Dangote, through his cement company, operates in Nigeria and other African countries, including Benin, Cameroon, Ghana, South...

    • Posted November 20, 2015
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  • Power firms owe NERC N3bn

    Power firms operating in the country owe the Nigerian Electricity Regulatory Commission a total of N3bn, the Chairman/Chief Executive Officer, NERC, Dr. Sam Amadi, has said. According to him, the debt is due to revenue shortfalls and...

    • Posted November 20, 2015
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  • Ecobank Nigeria’s CEO, Aku resigns

    The Board of Ecobank Nigeria Limited on Wednesday announced that the managing director of the bank, Mr. Jibril Aku, will step down on December 31, 2015. By the bank’s internal policy, Aku, having concluded his five-year tenure...

    • Posted November 20, 2015
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  • Moody’s: Nigeria’s oil output may fall by 2017

    Nigeria’s oil output could drop by as much as 15 per cent in 2017 unless the government attracts more investment and resolves cash shortages at state oil firms, a senior Moody’s analyst said on Wednesday. Africa’s biggest...

    • Posted November 20, 2015
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  • CBN harps on risks of electronic fraud

    The Central Bank of Nigeria (CBN) has alerted on security risks of electronic fraud in the country, but explained that it has beefed up security measures on online transactions, in order to reduce electronic fraud. CBN said...

    • Posted November 20, 2015
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  • N100bn aviation debt: FG to establish airport development fund

    Confronted with a N100 billion debt on assumption of duty last week, the Minister of State for Aviation, Senator Hadi Sirika, on Tuesday hinted that the federal government would set up an Aviation Development Fund (ADF), to...

    • Posted November 19, 2015
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  • Nigeria needs long-term solution to frequent petrol scarcity – Kachikwu

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday said Nigeria would have to find a long-term solution to the frequent scarcity of petrol in service stations across the country, saying that she cannot...

    • Posted November 19, 2015
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  • TSA: We could’ve sacked bank CEOs – CBN

    The Central Bank of Nigeria on Tuesday said it could have removed the chief executive officers and executive management teams of banks that recently violated the Federal Government’s directive on the Treasury Single Account. The CBN said...

    • Posted November 19, 2015
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  • We haven’t received Buhari’s N413bn subsidy proposal –National Assembly

    The two arms of the National Assembly have said that they have not received any proposal from President Muhammadu Buhari on the payment of N413bn subsidy arrears to marketers by the Federal Government. This is, however, contrary...

    • Posted November 19, 2015
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