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All posts by BusinessNews Staff

  • 22 Freight Forwarders on the Run Over Password Fraud

    Six chief executives of  freight forwarding agencies  have been arrested by the   Nigeria Customs Service (NCS)  for allegedly using the passwords of  three officers in the rank of Assistant Comptrollers  to exempt their  containers from being scanned...

    • Posted April 23, 2011
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  • Japan Budgets $49 billion for Post-disaster Reconstruction

    Japan’s cabinet on Friday approved a $49 billion budget to help in the reconstruction of areas decimated by last month’s earthquake and tsunami. The Disaster Relief Fund will pay for removal of rubble and debris, temporary housing,...

    • Posted April 23, 2011
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  • Polls: Economy records N280bn loss – LCCI

    The Lagos Chamber of Commerce and Industry, LCCI, yesterday, said the economy lost a cumulative N280 billion in the on-going elections nationwide. Speaking at the first quarterly press conference on the economy, President of LCCI, Otunba Femi...

    • Posted April 21, 2011
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  • Nigerian Breweries to acquire Sona from Heinekan

    Nigerian Breweries Plc has announced plans to acquire Sona Systems and Life Company from Heinekan NV. The company, in a statement made available to our correspondent on Wednesday, said this followed recent acquisitions of five companies from...

    • Posted April 21, 2011
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  • AMCON to list N1.7tn zero coupon bond today

    The Asset Management Corporation of Nigeria will today list 1.7 billion zero coupon bond 2013 Series 1 at the Nigerian Stock Exchange. According to a statement from the NSE, the 1.7 billion zero coupon bond will be...

    • Posted April 21, 2011
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  • CBN seeks creation of financial Ombudsman, others

    The House of Representatives, the Central Bank of Nigeria and other stakeholders in the financial sector have backed the establishment of the Office of the Nigerian Financial Ombudsman. Its duties are mainly to resolve “financial and related...

    • Posted April 21, 2011
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  • Oil market ‘ll continue to be an ever-changing arena – OPEC

    The Secretary-General of the Organisation of the Petroleum Exporting Countries, Dr. Abdalla El-Badri, has said that the oil market has been and will continue to be an ever-changing arena. According to him, this is because oil is...

    • Posted April 21, 2011
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  • Oando/Eni consortium to spend $3bn on Obiafu CPF

    The Oando/Eni Consortium, which has the mandate to build own and operate a natural gas central processing facility in the Central Franchise Area at Obiafu, Rivers State, under the Nigerian Gas Master Plan, is preparing an investment...

    • Posted April 21, 2011
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  • UBA Floats ‘Gift of Life’ Scheme

    The United Bank for Africa (UBA) Plc Wednesday unveiled its ‘Gift for Life’ scheme which it said was geared towards providing its customers with the opportunity to save as well as to enhance insurance penetration in the...

    • Posted April 21, 2011
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  • Nigerian Software: ISPON Calls for Declaration of State of Emergency

    President of the Institute of Software Practitioners of Nigeria (ISPON) Dr Chris Uwaje,  has said that it is strategically imperative for the Federal Government to declare a state of emergency for the mandatory development, acquisition, patronage, application...

    • Posted April 21, 2011
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