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All posts by BusinessNews Staff

  • Volume of POS transactions rises by 77%

    The volume of transactions conducted through point of sale (PoS) terminals across the country increased by 77 per cent, from 15 million in 2014, to 27 million as at June this year. The Chairman of the Nigeria...

    • Posted October 27, 2015
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  • NCC withdraws ‘data floor price’ for telecoms operators

    The Nigerian Communications Commission (NCC) on Monday said it has withdrawn the “data floor price’’ for operators in the telecommunications industry. “Floor price’’ is a government or group-imposed price control or the limit a price can be...

    • Posted October 26, 2015
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  • Banks’ contract staff responsible for 64% of frauds, forgeries in 2014 – NDIC

    As the Nigerian financial system continues to grapple with the rising cases of frauds and forgeries and the attendant threats to banking operations, the Nigerian Deposit Insurance Corporation (NDIC) has disclosed that 64 per cent of such...

    • Posted October 26, 2015
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  • No plan to ground air operations – NCAA

    The Nigerian Civil Aviation Authority (NCAA) has said that there was no plan for the workers of the aviation agencies embark on strike and ground airline operation as was earlier indicated. Reports on Saturday indicated that the...

    • Posted October 26, 2015
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  • Zero tolerance for fake products paying off – SON

    Influx of inferior and sub-standard goods into the Nigerian markets either through local manufacturing or importation will soon be over as the Standard Organisation of Nigeria (SON) has declared that it is winning the war against bootleggers...

    • Posted October 26, 2015
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  • Market cap dips by N60bn

    The volatility in the stock market continued on Thursday as selling pressure outweighed bargain hunting, leading equities and indices lower. At the close of trading, the market capitalisation of the listed equities on the Nigerian Stock Exchange...

    • Posted October 25, 2015
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  • Regulator to reduce banks’ indebtedness to foreign lenders

    Following the rising indebtedness of Nigerian banks to their correspondent banks abroad as a result of dollar scarcity in the economy, the Central Bank of Nigeria has begun moves to supply foreign exchange to companies with overseas...

    • Posted October 25, 2015
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  • CBN must devalue naira, ease dollar restrictions – Sanusi

    The Central Bank of Nigeria will have to devalue the naira and loosen monetary policy to stimulate the economy hit by a plunge in oil prices, former CBN Governor, Mr. Lamido Sanusi, has said. Sanusi was removed...

    • Posted October 25, 2015
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  • Dangote Cement trains block moulders, donates work tools

    Dangote Cement last week in Asaba, Delta State, donated work tools, including wheel barrows, shovels, rainboots and hand gloves to block moulders in the state. The donation was part of a workshop designed to train block moulders...

    • Posted October 25, 2015
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  • FAAN poised to generate N70billion revenue annually

    If all loopholes are closed and revenue systems automated, the Federal Airports Authority of Nigeria (FAAN) can increase its annual revenues from the present N45 billion to about N70 billion, THISDAY checks have revealed. With the huge...

    • Posted October 24, 2015
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