All posts by BusinessNews Staff

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  Arik crew-member charged to UK court over alleged drug possession

  ARIK Air crew-member, Temitayo Daramola, appeared at Uxbridge Magistrate Court charged with possessing cocaine with a street value of £600,000, during the airline’s Lagos to London flight on the evening of Monday, May 20. Daramola was arrested...

  • Posted May 29, 2013
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  Stocks record modest loss on bargain weak; NSE ASI dips by -0.07%

  The equities market closed today on a negative note, as the NSE ASI depreciated by -0.07% to close at 37,358.74 points, compared with the appreciation of +0.10% recorded previously. Its Year-to-Date (YTD) return currently stands at +33.05%....

  • Posted May 28, 2013
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  BPE clears 3 firms to bid for NITEL/MTEL

  The Bureau for Public Enterprises, BPE, yesterday, cleared three firms to bid for the liquidation of the Nigerian Telecommunications Plc, NITEL, and the Mobile Telecommunications Plc, MTEL. BPE, in a statement by Chigbo Anichebe, Head, Public Communications,...

  • Posted May 28, 2013
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  NRC to link rail lines to tank farms

  The Nigeria Railway Corporation,NRC, has announced plans to link rail lines to the various petroleum tank farms in different parts of the country. The Managing Director of NRC, Mr. Adeseyi Sijuade, disclosed this to news men during...

  • Posted May 28, 2013
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  Lagos to commission 10.4MW power plant

  The Lagos State Government said it has built a 10.4megawatt power plant Alausa, to replace the 14-MW diesel generator used within the state secretariat, which also houses the seat of government. The State Commissioner for Energy and...

  • Posted May 28, 2013
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  PHCN successor companies: Investors must make full payments before takeover – BPE

  The Bureau for Public Enterprise has said investors bidding for the Power Holding Company of Nigeria successor companies will only be allowed to takeover the companies upon 100 per cent payment of their bid consideration. This was...

  • Posted May 27, 2013
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  Ovia, Elumelu May Return to Zenith, UBA This Year

  There are strong indications that the former Managing Director/Chief Executive Officer (MD/CEO) of Zenith Bank Plc, Mr. Jim Ovia, and his erstwhile counterpart at the United Bank for Africa (UBA) Plc, Mr. Tony Elumelu will return to...

  • Posted May 27, 2013
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  Chike-Obi: Why We Want to Commence Sale with Enterprise Bank

  The Asset Management Corporation of Nigeria (AMCON) has offered insights into its decision of the corporation to start the sale of its three banks – Enterprise Bank, Keystone Bank and Mainstreet Bank with Enterprise Bank. AMCON describes...

  • Posted May 27, 2013
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  Lagos, FCT, Abia, four others account for 90% of cash transactions

  As the cashless policy of the Bankers Committee prepares to enter its second phase, the Central Bank of Nigeria,CBN, at the weekend, hinted that the success would impact significantly on the nation’s payment system. The policy is...

  • Posted May 27, 2013
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  China finance house to invest $6billion in Nigeria’s housing sector

  China Export and Credit Insurance Corporation,SINOSURE,and International Commercial Bank of China,ICBC, are set to invest about N948 billion (about $6 billion) in Nigeria’s Housing Sector. Managing Director of the Federal Mortgage Bank of Nigeria, Gimba Ya’u Kumo,...

  • Posted May 27, 2013
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