All posts by BusinessNews Staff

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  World Bank defends $75m loan to Edo

  The World Bank has defended its $75 million loan to Edo State Government, saying it grants significant funding only to governments it trusts would use the funds judiciously to achieve its development results. Speaking on Wednesday at...

  • Posted October 16, 2015
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  Dangote urges FG, States to adopt concrete roads for durability

  The Executive Director, Stakeholders Relations and Corporation Communications, Dangote Group, Mr. Mansur Ahmed, has said for Nigeria to achieve its long-desired infrastructural development, it must embrace the use of concrete for road construction and other construction works....

  • Posted October 16, 2015
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  Higher food prices push inflation to 9.4%

  The Consumer Price Index (CPI) which measures inflation increased mariginally to 9.4 per cent in September compared to 9.3 per cent in the previous month, according to the National Bureau of Statistics (NBS). It attributed the rise...

  • Posted October 16, 2015
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  Nigeria to ban rice importation in 2017 – Yari

  Zamfara State Governor and Chairman of the Nigeria Governors’ Forum (NGF), Alhaji Abdulazeez Yari, has said Nigeria will ban importation of rice  in the next two years (2017). Yari, who briefed State House Correspondents on Wednesday in...

  • Posted October 16, 2015
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  Access Bank strengthens alternative banking channels

  Access Bank Plc said it has selected CR2’s BankWorldomnichannel suite to manage its self-service channels including ATM, internet, and mobile. According to a statement, the strategic alliance was celebrated at Access Bank’s London headquarters recently. It pointed...

  • Posted October 15, 2015
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  Demutualisation: NSE appoints Rand Merchant Bank, Chapel Hill as financial advisers

  The Nigerian Stock Exchange (NSE) has made a major move towards its demutualisation with the appointment of Rand Merchant Bank (RMB) and Chapel Hill Denham (CHD) as financial advisers for the exercise. The NSE had in March...

  • Posted October 15, 2015
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  Forex restrictions: Massive job cuts loom in manufacturing sector

  The federal government’s drive to create jobs for millions of unemployed Nigerians may suffer setback owing to the Central Bank of Nigeria’s (CBN’s) foreign exchange (forex) restrictions, business analysts have warned. The policy, which took effect in...

  • Posted October 15, 2015
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  Ecobank Nigeria, Deutsche Bank seal deal on trade financing

  Deutsche Bank and Ecobank Nigeria Limited have announced the signing of a memorandum of understanding (MoU) to expand their trade finance relationship. Under the terms of the MoU, Deutsche Bank would provide export credit guarantee program GSM-102...

  • Posted October 15, 2015
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  NGF in strategy talks with MDAs, donor agencies on reforms

  Ahead of the meeting the National Economic Council on Friday, the  Nigeria Governors’ Forum (NGF) has met with strategic government agencies and development partners on ways to advance the proposed reforms and supports to states of the...

  • Posted October 15, 2015
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  Petrol queues resurface as marketers cut imports

  Following a reduction in the importation of Premium Motor Spirit (otherwise called petrol) into the country, long queues have started resurfacing at filling stations in Lagos, Ogun, Oyo and other states of the federation as well as...

  • Posted October 14, 2015
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