All posts by BusinessNews Staff

• 
  Shareholders authorise Sterling Bank to raise additional capital

  The shareholders of Sterling Bank Plc on Tuesday authorised the board and management of the bank to raise additional capital in order to strengthen its operations and increase its capital adequacy ratio. The shareholders endorsed the bank’s...

  • Posted November 13, 2014
  • 0
• 
  FG reappoints Odumodu as SON DG

  The Federal Government has announced the reappointment of the Director-General, Standards Organisation of Nigeria, Dr. Joseph Odumodu, for another term. A statement on Tuesday stated that the reappointment which would be effective from February 1, 2015 at...

  • Posted November 13, 2014
  • 0
• 
  N1tn spent on cars, parts importation annually – Aganga

  The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said Nigerians spend a total of $6.5bn (N1.096tn) on the importation of cars and car parts annually. Aganga spoke in a pre-recorded interview as part of...

  • Posted November 13, 2014
  • 0
• 
  Gas supply problems stall power plants’ sale – BPE

  The sale of the 10 power plants constructed under the National Integrated Power Project has been stalled by gas supply challenges, the Bureau of Public Enterprises has said. The Head, Public Communications, BPE, Mr. Chigbo Anichebe, disclosed...

  • Posted November 13, 2014
  • 0
• 
  CBN policy on standing deposit facility to fuel demand for FGN Bonds

  There are indications that auction demand for FGN bonds will hit an all-time high as banks and discount houses now earn only the 10 per cent interest rate under the CBN’s standing deposit facility (SDF) on placements...

  • Posted November 13, 2014
  • 0
• 
  New price for domestic gas takes effect January 1, 2015

  The price for domestic gas used for power generation, which was recently increased from $1.5 per thousand cubic feet (MCF) to $2.5 per MCF will take effect from January 1, 2015, THISDAY’s investigation has revealed. In what...

  • Posted November 12, 2014
  • 0
• 
  Telecommunications sector contributed N7tn to GDP in 2013

  The telecommunications sector in Nigeria contributed N6.97 trillion to the country’s Gross Domestic Product (GDP) in 2013. The disclosure was made by the Executive vice chairman, Nigeria Communications Commission (NCC), Dr. Eugene Juwah, at the 2014 annual...

  • Posted November 12, 2014
  • 0
• 
  Falling prices: Jonathan challenges oil producing nations

  President Goodluck Jonathan on Monday advised oil producing countries to cooperate more and work together in order to overcome the current challenge of falling crude oil prices. Jonathan made the suggestion while granting audience to Angola’s new...

  • Posted November 12, 2014
  • 0
• 
  NSE expels Gosord, Lakesworth for market infractions

  The Nigerian Stock Exchange (NSE) has  expelled  Gosord Securities Limited and Lakesworth Investment & Securities Limited, two of its  dealing members and revoked their licenses. According to the NSE, the action  followed infractions involving unauthorised sale of...

  • Posted November 12, 2014
  • 0
• 
  Court strikes out case on reversed shipping charges

  The Federal High Court in Lagos on Monday struck out the case brought  against the Nigerian Shippers’ Council (NSC)  by the Seaports Terminal Operators Association of Nigeria (STOAN)  on reversed shipping charges at the ports. The terminal...

  • Posted November 12, 2014
  • 0