All posts by BusinessNews Staff

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  FG reviews oil benchmark to $65/bl, resubmits MTEF

  Barely two weeks after it revised the 2015 budget oil benchmark price from $78 to $73, the federal government yesterday again resubmitted the 2015-2017 Medium Term Expenditure Framework (MTEF) with a revised oil benchmark of $65 a...

  • Posted December 5, 2014
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  OPEC job is challenging – Alison-Madueke

  The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has admitted that it is challenging for her to take over as the President of the Organisation of Petroleum Exporting Countries at this period when there is a sharp...

  • Posted December 5, 2014
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  FG reopens MMIA cargo terminal after 14-day closure

  The Federal Government has reopened the cargo terminal of the Murtala Muhammed International Airport, Lagos. A visit to the terminal by our correspondent on Wednesday showed that scanty activities had commenced after two weeks of closure. People...

  • Posted December 5, 2014
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  Winning bidder offers $252m for NITEL, M-Tel

  A Special Purpose Vehicle, NATCOM Consortium, on Wednesday offered to pay $252.25m for the Nigerian Telecommunications Limited and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited. With no competitor, and with the offer meeting the reserve price...

  • Posted December 5, 2014
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  FCMB pledges support for oil, gas sector

  FCMB Capital Markets Limited, the investment banking arm of FCMB Group Plc, says it will support the Federal Government’s oil and gas reserves growth agenda by supporting indigenous operators. A statement by the lender quoted the Executive...

  • Posted December 5, 2014
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  Heritage Bank introduces portable PoS machines

  Heritage Banking Company Limited has introduced a smaller form of point of sale (PoS) solution christened ‘PortaPOS’ to ride on the mPOS revolution, which is fast gaining acceptance worldwide. The device is aimed at providing seamless payment...

  • Posted December 5, 2014
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  Naira rebounds on Central Bank’s intervention

  The naira rose sharply against the dollar yesterday as the Central Bank of Nigeria (CBN) intervened three times to lift the nation’s currency from yet another record intra-day low, some dealers revealed. The naira closed at N181...

  • Posted December 4, 2014
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  Oil shock: FG moves to shore economy with building, construction industry

  The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, and her counterpart in the ministry of Housing, Land and Urban Development, Mrs. Akon Eyakenyi, on Thursday urged stakeholders in the housing and construction...

  • Posted December 4, 2014
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  Nigeria attracts largest investments in Africa – Jonathan

  Nigeria attracted the largest investments in the whole of Africa in the last three years, President Goodluck Jonathan has said. The President told private sector investors that although the country had been characterised by various challenges, businesses...

  • Posted December 4, 2014
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  Banks lose N5.76bn to fraud in 2013

  The Nigerian banking sector recorded an 11.12 per cent rise in cases of financial fraud losing N5.76 billion in 2013 of which N2.5 billion was recorded in the first quarter of the year alone. Total fraud cases...

  • Posted December 4, 2014
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