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All posts by BusinessNews Staff

  • Indians, Greeks take over Nigeria’s coastal shipping

    The coastal shipping business in Nigeria has been taken over by foreigners, especially Indians, Greeks and Lebanese. This is contrary to the tenets of the Coastal and Inland Shipping Act (Cabotage), findings by SUNDAY PUNCH have shown....

    • Posted September 14, 2015
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  • Delta lawmakers approve N5.021bn to rejig Asaba Airport

    Delta State House of Assembly has given approval for a loan facility of N5.021 billion towards the upgrading of the Asaba International Airport, which was downgraded by the Nigeria Civil Aviation Authority (NCAA) on account of alleged...

    • Posted September 13, 2015
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  • Airtel partners Sidon Media on mobile advertisement app

    Airtel Nigeria has partnered Sidon Media Limited to introduce” MyAds PAY”, a mobile advertisement Application that enables  subscribers to access products advertisement on their mobile devices  while it  also doubles as a platform where   advertisers can easily...

    • Posted September 13, 2015
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  • Internet usage on Nigeria’s telecoms networks hits 93 million – NCC

    The Nigerian Communications Commission (NCC) has disclosed that the number of internet users on the country’s telecom networks increased to more than 93 million as at July. The commission made this known in its Monthly Internet Subscriber...

    • Posted September 12, 2015
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  • Nigerian airlines spend over N250bn annually on overseas aircraft maintenance

    Commercial airlines, charter operators and privately owned jets spend about N250 billion annually on aircraft maintenance and simulator training of pilots, THISDAY investigation has revealed. Airlines, according the checks, pay a minimum of $500, 000 for engine...

    • Posted September 12, 2015
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  • Profit taking hits banking stocks on Nigerian Bourse

    The banking sector suffered profit taking thursday making the Nigerian Stock Exchange (NSE) Banking Index to close as the sole loser. While other sectoral indices went up, the NSE Banking Index declined due to depreciation in the...

    • Posted September 12, 2015
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  • JP Morgan: Emefiele defends CBN policies

    The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has dismissed concerns about foreign exchange liquidity, despite JPMorgan’s removal of the country from its influential emerging markets bonds index amid fears about the country’s economic management. The...

    • Posted September 12, 2015
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  • JP Morgan: FMDQ intervenes in bond market, stocks continue decline

    Bond yields declined on Thursday, reflecting a rise in value as markets continued to react to the plan by JP Morgan to remove Nigerian government bonds from its Government Bond Index-Emerging Markets (GBI-EM) by October ending. The...

    • Posted September 12, 2015
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  • Experts predict CBN’s N338bn bailout to States will reflate economy

    There are strong indications that the injection of over N338 billion into the economy by the Central Bank of Nigeria (CBN) in the form of a workers’ assistance scheme for the states, popularly known as bailout, would...

    • Posted September 12, 2015
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  • Nigeria, others lose N6.5tn in mobile money transfer

    Nigeria and other African nations have lost $33bn (N6.5tn) in mobile money remittance from international and cross border transfer, the World Bank has said. The bank stated this on Thursday in a report entitled ‘Africa’s Mobile Money’,...

    • Posted September 12, 2015
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