All posts by BusinessNews Staff

• 
  Budget: Reps committee to meet Okonjo-Iweala, Okogu

  The House of Representatives on Wednesday constituted a 17-member special committee to meet with the Minister of Finance, Dr. Ngozi Okonjo-Iweala, on the 2015 budget. The committee, which is headed by the Chairman, House Committee on Appropriations,...

  • Posted February 20, 2015
  • 0
• 
  40% of companies haven’t complied with IFRS – Gwarzo

  The Acting Director-General, Securities and Exchange Commission, Mr. Mounir Gwarzo, has lamented the failure of some companies to fully migrate to the International Financial Reporting Standards. A statement from the SEC quoted Gwarzo as expressing the concern...

  • Posted February 20, 2015
  • 0
• 
  BPE to raise panel on consumer protection bill

  The Bureau of Public Enterprises has said that it will set up an interagency project delivery team to ensure the early passage of the Federal Competition and Consumer Protection (Anti-Trust) Bill. The Director-General, BPE, Mr. Benjamin Dikki,...

  • Posted February 20, 2015
  • 0
• 
  FG calls for speedy rollout of 2.3GHz, InfraCoLicences

  Concerned about delay in rollout plan for the 2.3GHz spectrum licence that was won by Bitflux in February 2014, the federal government, through the Broadband Council, has urged Bitflux to roll out services on the 2.3GHz spectrum...

  • Posted February 20, 2015
  • 0
• 
  CBN fixes time limit for resolution of customers’ complaints

  The Central Bank of Nigeria (CBN) has introduced a six years limit for the resolution of bank customers’ complaints. The CBN, which stated this in a circular addressed to all banks, discount houses and other financial institutions...

  • Posted February 19, 2015
  • 0
• 
  External reserves drop to $32.66billion

  The Central Bank of Nigeria (CBN) spent $380 million in two days to prop up the ailing naira, after conducting special forex interventions to shore up the local currency, a Reuters report has revealed. Latest data on...

  • Posted February 19, 2015
  • 0
• 
  CBN introduces new policy on dormant accounts

  The Central Bank of Nigeria has introduced new guidelines for the treatment and management of dormant account balances by deposit-taking financial institutions. Part of the objectives of the policy, according to the CBN, is to ensure that...

  • Posted February 19, 2015
  • 0
• 
  FG stifled states, private investors from borrowing – Fashola

  Lagos State Governor, Mr. Babatunde Fashola, on Tuesday disclosed that the federal government had instructed commercial banks in the country against granting credit facilities to some state governments and private sectors. The governor also raised questions on...

  • Posted February 19, 2015
  • 0
• 
  Nigeria is largest market in West Africa – AfDB

  The African Development Bank (AfDB) has reaffirmed that Nigeria is West Africa’s largest market with great potential to be a main driver of regional integration considering its population. This was contained in the West African Mid-Term Review...

  • Posted February 19, 2015
  • 0
• 
  Falling naira: Dealers reduce Tokunbo vehicle imports

  The anticipated surge in the importation of used vehicles into the country is not manifesting less than two months to the commencement of the payment of 35 per cent levy on such vehicles. Investigation by our correspondent...

  • Posted February 19, 2015
  • 0