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All posts by BusinessNews Staff

  • Electricity: Market operator insists on integrity of settlement statements

    The Operator of Nigerian Electricity Market (ONEM), also called the Market Operator (MO) has said the integrity of information provided by various participants in the Nigerian electricity supply industry must be credible to avoid imbalances in the...

    • Posted December 3, 2014
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  • Telecoms operators putting pressure on foreign exchange – NOTAP

    Telecommunications operators have been putting enormous pressure on the nation’s foreign exchange as they seek approvals to acquire foreign software to drive their networks, Director General of the National Office for Technology Acquisition and Promotion, Dr. Umar...

    • Posted December 3, 2014
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  • Naira slides to N184 against dollar

    Barely one week after the Central Bank of Nigeria devalued the naira by 8.4 per cent in a bid to reduce the pressure on the falling national currency, the naira on Monday again fell by 3.4 per...

    • Posted December 3, 2014
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  • Japan grants Nigeria N1.9bn to develop solar electricity

    Japan has given a grant of N1.9bn ($9.8m) for the generation of solar electricity in Nigeria, as part of its infrastructure development assistance. The Asian country is also considering a $200m request from the Federal Government for...

    • Posted December 3, 2014
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  • Minister outlines benefits of new accounting standards

    The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has outlined various benefits of adopting the International Financial Reporting Standards to the country, urging companies in the country to adopt them. During his keynote address at...

    • Posted December 3, 2014
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  • Union Bank bags PCI DSS Certification

    Union Bank of Nigeria Plc at the weekend announced that it has been certified with the latest Payment Card Industry Data Security Standard (PCI DSS) – Version 3.0. PCI DSS is a global security standard for protecting...

    • Posted December 3, 2014
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  • Tony Elumelu Foundation commits $100m to African entrepreneurs

    The Chairman of Heirs Holdings, Mr. Tony Elumelu, will this Monday commit $100 million to launch the Tony Elumelu Foundation (TEF) entrepreneurship programme. The launch, which would take place in Lagos, is expected to be the flagship...

    • Posted December 2, 2014
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  • NIBSS: PoS transactions rise to N241billion

    The Nigeria Interbank Settlement System (NIBSS) has disclosed that transactions through point of sale (PoS) terminals have risen by 191 per cent to N241 billion since the beginning of the year. The company also reported a 249...

    • Posted December 2, 2014
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  • Devaluation: Banks’ stocks set for tougher times

    Some developments in the domestic and global economy are causing bank stocks to lose their attraction, it has been gathered. Weighed down by issues such as the previous hike in Cash Reserve Ratio of public and private...

    • Posted December 2, 2014
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  • NSE boss advises investors on market opportunities

    The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has advised investors to exploit the opportunities in the stock market and invest more. Onyema made the call while speaking at the 2014 FCSL...

    • Posted December 2, 2014
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