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All posts by BusinessNews Staff

  • CBN may raise interest rate tomorrow

    The Central Bank of Nigeria (CBN) may raise its benchmark interest rate (Monetary Policy Rate (MPR) for a second time this year as its Monetary Policy Committee meets in Abuja tomorrow. The MPR is the interest rate...

    • Posted March 26, 2011
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  • Odu’a partners Canadian telecoms firm to reposition O’net

    Odu’a Investment Limited has sealed a partnership agreement with a Canadian telecoms firm to reposition its telecoms subsidiary, O’net. The new partner, Concave Telecommunications International Group, Canada, is coming about two years after a careful search for...

    • Posted March 26, 2011
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  • Fed Govt targets $10b investment in gas

    The Federal Government has set a target of $10 billion as Foreign Direct Investment between 2012-2014 from a new Gas Revolution Agenda. President Goodluck Jonathan is also scheduled  to launch the agenda on March 24, said the...

    • Posted March 26, 2011
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  • Contractors threaten to liquidate M-tel over N400m debt

    Agroup of contractors to the Nigeria Mobile Telecommunications (M-tel), mobile subsidiary of Nigerian Telecommunication Ltd (NITEL), has initiated the process of winding the telecoms firm, for failing to pay its debts. The group, M-tel Contractors Group, had...

    • Posted March 26, 2011
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  • Why Nigeria’s economically under developed, by NBTI chief

    Nigeria cannot develop economically if her research innovations do not get to the public, the Director-General, National Board for Technical Incubation (NBTI), Prof. Gambo Laraba Abdulahi, has said. She expressed disappointment that the country is only interested...

    • Posted March 26, 2011
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  • New capital market rules coming

    THE Council of the Nigerian Stock Exchange (NSE) yesterday rolled out penalties for breach of the rules governing dealing members. The recommendations are to be effected after input from brokers and final approval by the Council. The...

    • Posted March 26, 2011
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  • Okereke-Onyiuke: Court suspends judgment on NSE’s request

    Justice Mohammed Idris of the Federal High Court, Lagos yesterday suspended judgment in a suit by sacked Director-General of the Nigerian Stock Exchange (NSE), Prof Ndi Okereke-Onyuike, in view of the NSE’s request to file defence in...

    • Posted March 26, 2011
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  • Traders lament farm lands acquisition by foreign

    The National Association of Nigerian Traders (NANTS) has decried the spate of land acquisition by foreign governments and interests in Nigeria and other developing countries. Relying on the United Nations report on this development, the President of...

    • Posted March 26, 2011
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  • ‘Nigeria loses N153b yearly to software licensing’

    Nigeria is losing N153 billion ($1 billion) annually to software licensing, delivery services and technical support in Information and Communication Technology (ICT), it was revealed yesterday. According to the President of the Institute of Software Practitioners of...

    • Posted March 26, 2011
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  • Pay Fed Govt’s N640b debt, NEITI tells NNPC

    The Chairman of the Nigeria Extractive Industry Transparency Initiative (NEITI), Prof. Assisi Asobe, yesterday urged the Nigerian National Petroleum Corporation (NNPC) to pay into the Federation Account the remittances it is withholding. Speaking with newsmen in Abuja,...

    • Posted March 26, 2011
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