All posts by BusinessNews Staff

• Budget 2011 unimplementable – Aganga

  ABUJA — The executive arm of the Federal Government is to re-engage the National Assembly on the bloated N4.9 trillion 2011 budget which the Minister of Finance, Mr. Segun Aganga, has described as un-implementable. Receiving the report...

  • Posted April 7, 2011
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• N12bn fraud: New pension scheme not affected – PENCOM

  The National Pension Commission (PenCom) has declared that there is no incidence of fraud in the new Contributory Pension Scheme, CPS, stating that the new scheme has a large number of safeguard to prevent occurrences of such...

  • Posted April 7, 2011
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  Africans in diaspora home remittance hit $40bn mark in 2010

  Thirty million Africans across the globe have directly invested $40 billion into the continent economy in 2010 According to a survey carried by African Development Bank and the World Bank recently, Africans investment ranged from land purchases,...

  • Posted April 7, 2011
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  Leave agriculture to states, Oshiomhole urges FG

  Governor Adams Oshiomhole of Edo State has urged the Federal Government to leave agriculture in the hands of state governments. Oshiomhole, who spoke on Wednesday during the delegates, conference of the state chapter of the Nigeria Labour...

  • Posted April 7, 2011
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  Polls: Politicians in huge cash transfer deals with BDCs – Investigation

  Politicians seeking elective posts have been transferring huge amounts of cash from foreign countries into Nigeria, mainly through Bureau de Change accounts, investigation by our correspondent has revealed. The BDC accounts, called “Aboki accounts” among the operators,...

  • Posted April 7, 2011
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  FG may reduce recurrent expenditure to 6% of GDP

  The Federal Government may peg the recurrent expenditure of all ministries, departments and agencies of government at six per cent of the country’s Gross Domestic Product. A report of the Expenditure Review Committee, which was submitted to...

  • Posted April 7, 2011
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  FG Mandates Implementation of Vision 2020 in States

  When passed into law, the bill on Development Planning and Project Continuity currently before the National Assembly will mandate all tiers of government to draw up and implement medium term development plans on consistent basis. This is...

  • Posted April 7, 2011
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  Transcorp’s Price Rally Continues, Hits N1.33

  The shares of Transnational Corporation of Nigeria Plc (Transcorp) rallied further Wednesday at the stock market as investors continued to react favourably to the acquisition of a significant stake in the company by Heirs Holdings Limited last...

  • Posted April 7, 2011
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  Rescued Banks Intensify Debt Recovery Drive

  Rescued banks in the country have intensified their debt recovery drive ahead of the June, 2011 recapitalisation deadline that has been fixed by the regulator. Despite the activities of the Assets Management Corporation of Nigeria (AMCON), THISDAY...

  • Posted April 7, 2011
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  Intercontinental Bank kicks off 1-save 1-win promo

  In continuation of its industry leadership in rewarding its customers, Intercontinental Bank has kicked-off I-Save I Win promo. Apart from an instant gift on lodgment of a minimum deposit, various prizes ranging from a flat in the...

  • Posted April 7, 2011
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