All posts by BusinessNews Staff

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  Bayelsa, six other states fail DMO’s solvency test

  Bayelsa and six other states in the country have failed the domestic debt sustainability analysis undertaken by the Debt Management Office (DMO). According to the report, which the DMO board, headed by Vice President Namadi Sambo met...

  • Posted March 18, 2013
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  Oasis Insurance pays N494.5m claims

  Oasis Insurance Plc has disclosed that it settled N494.5m claims in various classes of insurance last year. The company incurred claims to the tune of N494, 576,954.95 in motor, fire, marine, engineering and general accident insurance. According...

  • Posted March 18, 2013
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  BPE considers five firms for NITEL liquidation

  Bureau of Public Enterprises (BPE) has commenced the guided liquidation of NITEL and its mobile arm, Mtel, as it has started the evaluation of expression of interests (EOIs) from five prospective liquidators for the exercise. Guided liquidation...

  • Posted March 18, 2013
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  WEMA seeks to regain national bank status

  Wema Bank Plc, has disclosed that it will raise a 35 billion naira ($220 mn) private share placement to some investors by the end of April and apply to regain national bank status. Wema was one of...

  • Posted March 18, 2013
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  NEMA records 80 distress alert signals from air and sea in 2012

  The National Emergency Management Agency (NEMA has disclosed that its Mission Control Centre (MCC) had received a total of 80 distress alert signals in 2012 from maritime, aviation and land users. The Director General, Muhammad Sani-Sidi disclosed...

  • Posted March 17, 2013
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  NCC: Telecommunication Investment Hits $25 bn

  Nigeria has witnessed huge advancement in the development of the telecommunication industry with an investment profile that currently stands at about $25 billion. The commission said the Sim Card registration has been completed while the much awaited...

  • Posted March 17, 2013
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  W’Bank to Launch $300m Social Safety Programme

  The World Bank has disclosed plans to float a $300 million-social safety support programme which is specifically targeted at the needy in order to reduce inequality and help them from falling deeper into poverty. World Bank Director,...

  • Posted March 17, 2013
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  NCC to launch Mobile Number Portability service March 25

  The Nigerian Communications Commission (NCC) said on Saturday it would launch the much- awaited Mobile Number Portability (MNP) service on March 25. Head, Media and Public Relations of the Commission Reuben Muoka, said that contrary to the...

  • Posted March 17, 2013
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  Airtel will continue to offer innovative products to consumers – CEO

  One of the leading telecommunications service providers, Airtel Nigeria, has restated its determination to continue to drive positive change in the nation’s telecoms industry by ensuring a steady stream of innovative product offerings to the market. Speaking...

  • Posted March 16, 2013
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  Manufacturing is the bedrock of development – RMRDC boss

  The Director-General/Chief Executive Officer, RMRDC, Prof. Azikiwe Onwualu, has said that the country may not make any reasonable progress if it fails to improve its manufacturing sector. According to him, manufacturing is the heart of development of...

  • Posted March 16, 2013
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