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All posts by BusinessNews Staff

  • Payment of dividend to closed banks’ uninsured depositors gulped N94.74bn in 2014 – NDIC

    Nine years after the conclusion of the banking sector consolidation exercise, the Nigeria Deposit Insurance Corporation (NDIC) has stepped up payment of dividend to uninsured depositors of closed banks after the mandatory due diligence. The corporation, which...

    • Posted July 20, 2015
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  • Stakeholders rue Capital Market financing for SMEs

    Following the International Securities Commission (IOSCO’s) report on alternative financing for SMEs through the capital market, stakeholders examine issues around capital market financing for local SMEs, reports Olaseni Durojaiye In appreciation of the critical role that Small...

    • Posted July 20, 2015
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  • NDIC faults poor governance culture in banks

    The Nigerian Deposit Insurance Corporation (NDIC) has faulted poor governance culture and risk control practices of some financial institutions capable of leading them into sudden challenges. Speaking at the 15th National annual conference/AGM of the Risk Managers...

    • Posted July 19, 2015
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  • Uproar as Nigerians in UK pay N10, 000 for BVN

    Nigerians in London, United Kingdom, have expressed frustration over the compulsory payment of £30 (about N10, 000) for the registration of the Bank Verification Number, as directed by the Central Bank of Nigeria. Apparently sad over their...

    • Posted July 19, 2015
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  • Government charges adversely affecting operation cost – Airline operators

    (NAN) Airline Operators Association of Nigeria (AOAN) has called on the Federal Government to review the charges paid by its members in order to reduce their high cost of operation. Mr Mohammed Joji, General Secretary of the...

    • Posted July 18, 2015
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  • How to attract more foreign investors – Ex-Perm Sec

    Alhaji Olatunji Odusanya, a retired Permanent Secretary in the Ministry of Commerce and Industry, Lagos State, has urged governments to create the enabling environment to attract more foreigner investment into the country. Odusanya said this on Friday...

    • Posted July 18, 2015
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  • BoI to support TEF entrepreneurs

    The Bank of Industry has unveiled plans to induct successful entrepreneurs under the Tony Elumelu Foundation programme into its Hall of Fame, according to a statement from the company. The statement quoted the Managing Director, BoI, Mr....

    • Posted July 18, 2015
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  • Cadbury Nigeria posts N250.7m half-year loss

    Cadbury Nigeria Plc on Thursday reported a loss before tax of N250.72m for the first half of 2015, compared with a profit of N1.79bn declared in the same period of last year. The company’s unaudited results for...

    • Posted July 18, 2015
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  • Gas supply lifts power generation to 4,656MW

    The country has recorded a new peak in power generation at 4,656.4 megawatts. This comes less than two days after 4,545MW was recorded. It was learnt that the rise in power generation in the past few days...

    • Posted July 18, 2015
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  • NEPC advises exporters of non-oil products

    The Nigerian Export Promotion Council has said that many non-oil product exporters in the country are losing huge amounts of their investment because they lack the basic knowledge needed to move along the trade pathway. During the...

    • Posted July 18, 2015
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