Don't Miss


All posts by BusinessNews Staff

  • Nigeria’s power generation capacity almost 10,000MW – Ajifowobaje

    The Managing Director and Chief Executive Officer, Ikeja Electric, Mr. Abiodun Ajifowobaje, in this interview with ‘FEMI ASU, says a chunk of the nation’s installed generation capacity of not less than 10,000 megawatts remains stranded largely due...

    • Posted April 17, 2015
    • 0
  • Union Bank adopts new technology to improve efficiency

    Union Bank of Nigeria Plc says it has deployed a new core banking application to modernise its infrastructure and improve operating efficiency. The application, called oracle flexube universal banking solution, helps to improve business operations and enhance...

    • Posted April 17, 2015
    • 0
  • Atoki accuses telecoms, aviation, banking sectors of consumer rights abuses

    The Consumer Protection Council Nigeria (CPC), has identified the telecoms, aviation, banking and power sectors as areas that record the  highest level of consumer rights abuses in Nigeria. Director General of the agency, Mrs. Dr. Dupe Atoki,...

    • Posted April 17, 2015
    • 0
  • Oando to meet 100,000bpd production target by 2017

    Oando Energy Resources (OER) has stated that it would meet a medium term objective of producing 100,000 barrels of oil equivalent per day (boepd) and reserves of 500 million barrels of oil equivalent per day (mmboepd) by...

    • Posted April 16, 2015
    • 0
  • SEC releases final rules on demutualisation of exchanges

    The Securities and Exchange Commission (SEC) has released final rules on demutualisation of securities exchanges in Nigeria. The rules, according to SEC, are not specific to the Nigerian STOCK EXCHANGE (NSE)  alone but are aimed at operations...

    • Posted April 16, 2015
    • 0
  • Ikeja Electric customers to get free meters June

    Ikeja Electric, one of the two electricity distribution companies in Lagos, says it is investing $100m (about N20bn) in smart pre-paid meters to be distributed to its customers free starting from June. The company said it would...

    • Posted April 16, 2015
    • 0
  • Kia to assemble 25,000 vehicles annually in Lagos

    About a year after announcing its plan to go into local vehicle production, Kia Motors Nigeria has made good its promise with the inauguration of its assembly plant in Lagos. The firm said in a statement obtained...

    • Posted April 16, 2015
    • 0
  • Buhari: Experts differ on power sector privatisation review

    Power sector stakeholders have expressed divergent views about how the incoming administration of Maj.-Gen. Muhammadu Buhari (retd) should handle the industry, especially the privatisation of key power assets. While some are calling for a review of the...

    • Posted April 16, 2015
    • 0
  • Overnight interbank rate rises to 90%

    The overnight tenor of the Nigerian Interbank Offered Rates (NIBOR) spiked to 90 per cent on Tuesday, near record highs, up from 60 per cent on Monday, two days after the central bank debited lenders to enforce...

    • Posted April 16, 2015
    • 0
  • Money market awaits N2.118trillion inflow in April

    A total inflow of about N2.117 trillion is expected to hit the money market from the various government maturing securities and Federation Account Allocation Committee (FAAC) this month, a report by FSDH Merchant Bank Limited has shown....

    • Posted April 16, 2015
    • 0