All posts by BusinessNews Staff

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  Naira Falls to 3-Month Low; Dollar Supply Curbed at Sale

  Nigeria’s naira depreciated to its weakest level in three months against the dollar after the central bank failed to meet lenders’ demands for the U.S. currency at an auction yesterday. The currency of sub-Saharan Africa’s second-biggest economy...

  • Posted September 20, 2011
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  Borno Farmers to Receive $9 Million From World Bank

  Borno State farmers under the Fadama programme are to benefit from a $9 million (N1, 368,000,000) counterpart support from the World Bank if the state and local governments meet the required commitment in its counterpart payment, the...

  • Posted September 20, 2011
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  Nigeria Oil Output down on Opec Constraints

  Nigeria is producing 1.8 million barrels of oil per day, down from a capacity of 2.5 million bpd as the West African nation adheres to its Opec output restrictions, an official at Nigerian National Petroleum Corporation said...

  • Posted September 20, 2011
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• Odua investment company divests 75% shareholding in O’net

  The regional telecommunications firm, O’net, is relaunching its products into the market after several months in the trenches. The new Managing Director of the firm, Mr Ade Ayoola, disclosed this while addressing reporters at the corporate headquarters of...

  • Posted September 20, 2011
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• CBN increases lending rate to 9.25 per cent

  The Central Bank of Nigeria yesterday increased the benchmark lending rate by 50 basis points from 8.75 per cent to 9.25 per cent. The anticipated one per cent reduction in government’s recurrent expenditure in the annual budget,...

  • Posted September 20, 2011
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• THE KIRKE PROJECT BEGINS A NEW MEDIA MAKEOVER FOR SMALL BUSINESSES

  LAGOS, Nigeria (September 19, 2011) – Selected small businesses have been given a reprieve on ways to build and maintain their online presence as well as how to engage their current and potential customers through social media. The...

  • Posted September 19, 2011
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  Fidelity Bank introduces special fund for indigenous oil, gas firms

  Fidelity Bank Plc has introduced a special funding package to support the participation of indigenous companies in the oil and gas sector of the Nigerian economy, known as “Fidelity Local Content Finance Fund”. The bold attempt is...

  • Posted September 19, 2011
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• Mutual Benefits partners Portland Paints on insurance of assets

  Mutual Benefits Assurance Plc and Portland Paints & Products Nigeria Plc has gone into strategic partnership to develop innovative products for the benefits of customers. Through this alliance, for instance, they have launched “Portland-Mutual Extra”, which states...

  • Posted September 19, 2011
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  Good Leadership’ll Change Nigeria in 6 Months – Julius Adeluyi

  Former Minister of Health and Chairman Juli Pharmacy Plc, Prince Julius Adeluyi, has declared that Nigeria can turn around in six months, if only it has a good leadership, governance, and transparent structure in place. Adeluyi was...

  • Posted September 19, 2011
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• Staco Insurance announces N5.248 billion premium

  Staco Insurance Plc has announced a gross premium income of N5.248 billion for the year ended 31st December, 2010, as against N5,058 billion recorded in 2009. The Chairman of the Company, Dere Otubu, addressing shareholders at the...

  • Posted September 19, 2011
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