All posts by Ifreke Inyang

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  N10bn water business thrives in Nigeria daily – NAFDAC

  The Director-General of  National Agency for Food and Drug Administration and Control, Dr Paul Orhii, says N10bn is made daily from water business in Nigeria. Orhii stated this on Tuesday in Abuja when he visited the Director-General...

  • Posted April 16, 2014
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  GTB shareholders approve N50bn dividend

  Shareholders of Guaranty Trust Bank Plc have approved a total dividend payout of N50.033bn or N1.70 per share for the 2013 financial year. The shareholders gave the approval in Lagos on Monday at the bank’s Annual General...

  • Posted April 16, 2014
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  Nnaji seeks strong regulations, institutions in power sector

  A former Minister for Power, Professor Bart Nnaji has stated that for the reforms in the power sector to be sustained, there must be strong institutions and regulations that would ensure continuity and protect the consumers and...

  • Posted April 16, 2014
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  NERC moves to sanction electricity distribution companies over exorbitant bills

  Apparently worried that consumers of electricity in Nigeria are increasingly paying more for darkness, the Nigerian Electricity Regulatory Commission (NERC) will today approve the enforcement of a regulation that stipulates financial fines against any electricity distribution company...

  • Posted April 15, 2014
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  CBN raises supply of lower naira denomination

  As a result of complaints of scarcity of lower denomination naira across the country, the Central Bank of Nigeria (CBN),  yesterday indicated that it had increased the supply of banknotes to deposit money banks (DMBs). The central...

  • Posted April 15, 2014
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  BoI approved N25bn loans in Q1 – Acting MD

  The Bank of Industry approved loan facilities valued at N25.322bn to 968 enterprises in the first quarter of this year, the Acting Managing Director/Chief Executive Officer, Mr. Waheed Olagunju, has said. Olagunju stated this in a document...

  • Posted April 15, 2014
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  Nigeria, other African states seek World Bank’s assistance on illicit financial flows

  Nigeria and other African countries have asked the Bretton Woods institutions, the World Bank and the International Monetary Fund  (IMF), to help them arrest the intractable problem of illicit financial outflows from the continent. The Coordinating Minister...

  • Posted April 15, 2014
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  FG to transfer part of N757Bn PHCN legacy debts to DMO

  The federal government has disclosed its plans to transfer all legacy debts that arose from foreign loans that were left behind by defunct Power Holding Company of Nigeria (PHCN) to the Debt Management Office (DMO) for cancellation....

  • Posted April 15, 2014
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  Agric sector not performing to capacity – NDDC boss

  THE Managing Director, Niger Delta Development Commission, Mr. Bassey Dan-Abia, says the Nigeria’s agricultural sector has yet to perform to its capacity. Dan-Abia said though agriculture had contributed to the nation’s current Gross Domestic Product, which placed...

  • Posted April 15, 2014
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  Oil revenue crashed by 19.8% in January — CBN

  The nation’s oil revenue fell by 19.8 per cent in January 2014 compared to the corresponding period last year, according to the latest statistics from the Central Bank of Nigeria. While attributing the fall to the decline...

  • Posted April 15, 2014
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