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All posts by BusinessNews Staff

  • Shareholders approve Flour Mills’ subsidiaries merger with HoldCo

    Shareholders of Flour Mills of Nigeria Plc (FMN) have endorsed the company’s bid to merge five of its subsidiaries with its holding company. The company had obtained the approval-in-principle of the Securities and Exchange Commission (SEC) to...

    • Posted September 17, 2015
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  • Oil theft bigger threat than price slump – Experts

    Stakeholders in the upstream segment of the nation’s petroleum industry under the aegis of the Nigerian Association of Petroleum Explorationists have raised the alarm over the spate of oil theft and illegal crude refining in the country,...

    • Posted September 17, 2015
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  • NNPC to review PSC fiscal terms with IOCs

    The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it would revisit the fiscal terms of existing Production Sharing Contracts (PSCs) entered into by it on behalf of Nigeria with some international oil companies (IOCs). The corporation,...

    • Posted September 17, 2015
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  • Banking stocks lead Laggards as NSE Index sheds value

    The Nigerian Stock Exchange (NSE) Banking Index declined 0.85 per cent at the stock market on Tuesday as the   implementation of the Treasury Single Account (TSA) began. Although the NSE All-Share Index shed 0.19 per cent, the...

    • Posted September 17, 2015
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  • Banks’ investments in foreign software unacceptable – Expert

    The Managing Director of UpperLink Software and e-Payment Solution Development Company, Mr. Segun Akano, says over indulgence of foreign software by Nigerian banks is negatively affecting the lenders’ finances and return on investments. He stated that lenders...

    • Posted September 17, 2015
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  • Cash shortage hits banks as TSA deadline expires

    Deposit Money Banks in the country have transferred about N1.5tn from the accounts of Ministries, Departments and Agencies of the Federal Government to the Central Bank of Nigeria as the deadline for the commencement of the Treasury...

    • Posted September 17, 2015
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  • BoI, FIIR to boost economic growth with research

    The Bank of Industry says it will collaborate with the Federal Institute of Industrial Research to boost the level of industrial development in the country. The Managing Director, BoI, Mr. Rasheed Olaoluwa, who said this in Abuja...

    • Posted September 17, 2015
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  • BPE, NBET differ on $146.8m Yola Disco refund

    Two government agencies are at loggerheads over the refund of about $146.8m to Integrated Energy Distribution and Marketing Company, which had acquired and relinquished the Federal Government’s 60 per cent equity in the Yola Electricity Distribution Company...

    • Posted September 17, 2015
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  • Stakeholders fault FG for dormancy of NIPP Plants

    Stakeholders in Nigeria’s power sector yesterday faulted the inability of power generation plants built under the National Integrated Power Projects (NIPPs) to fully come on stream on the failure of the federal government to decisively tackle the...

    • Posted September 17, 2015
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  • Licensing of 700MHz will bring dividends to Nigerians – NBC insists

    Contrary to allegations that the licensing of the country’s 700MHz spectrum to MTN by the National Broadcasting Commission (NBC) was illegal and that the deal must have denied other telecoms operators the legitimate right to bid for...

    • Posted September 16, 2015
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