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All posts by BusinessNews Staff

  • FirstBank partners Etisalat on Mobile Money

    First Bank of Nigeria Limited and Etisalat Nigeria have gone into a partnership to offer mobile payment services to their customers. Both institutions explained that the move was part of efforts to drive financial inclusion, innovation as...

    • Posted January 8, 2015
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  • Power: Residential consumers to pay more from July

    The increase in electricity tariff will become effective for all categories of consumers in July this year. This means that residential consumers, who constitute about 80 per cent of power users in the country, will from that...

    • Posted January 8, 2015
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  • FG assures investors of exchange rate stability

    President Goodluck Jonathan has said the federal government will continue to ensure stability in the value of the naira by striving to take away speculative actions that cause market exchange pressures. He also assured Nigerians and international...

    • Posted January 8, 2015
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  • Nigerian Stock Exchange delists Oasis Insurance

    The Nigerian Stock Exchange (NSE) has delisted Oasis Insurance Plc from its daily official list following the acquisition of the company by FBN Insurance Limited, a subsidiary of FBN Holdings Plc. According to NSE, following the conclusion...

    • Posted January 8, 2015
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  • Close revenue accounts with banks – FG orders MDAs

    The Federal Government on Tuesday directed all its Ministries, Departments and Agencies to close their revenue accounts with Deposit Money Banks latest by February 28. The government gave the directive while unveiling an electronic revenue collection platform...

    • Posted January 8, 2015
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  • Concerns grow over economy as oil hits $51

    As global oil prices extended their declines on Tuesday, plunging to fresh five-and-a-half year lows, the need for Nigeria to cover the potential revenue gaps and diversify the economy has been stressed. The global benchmark Brent, against...

    • Posted January 8, 2015
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  • Spill: Shell pays N15bn to Rivers community

    Oil giant, Shell, has paid the sum of £55m (about N15.4bn) as compensation to residents of Bodo area of Rivers State, where two oil spills occurred in August and December 2008. Amnesty International and the Centre for...

    • Posted January 8, 2015
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  • “Islamic banking good for Nigeria” – Ali

    The President, Islamic Development Bank, Jeddah, Saudi Arabia, Dr. Ahmad Ali, says Islamic banking has the capacity to boost economic growth and development in Nigeria. He said the banking system could help the government to raise huge...

    • Posted January 8, 2015
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  • Transcorp Hotels raises N4.2bn from Initial Public Offering

    Transcorp Hotels Plc (THP) has said it raised N4.2 billion from its recent initial public offering (IPO), indicating 52 per cent subscription level.  THP had issued 800 million shares at N10 per share to raise N8 billion....

    • Posted January 8, 2015
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  • CBN may further devalue naira after elections

    The Central Bank of Nigeria’s Monetary Policy Committee might be forced to devalue the naira again after the general elections scheduled to hold in February, it was learnt on Monday. The indication to this effect is coming...

    • Posted January 7, 2015
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