All posts by Ifreke Inyang

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  Market capitalisation sheds N8bn on profit-taking

  The market capitalisation of the Nigerian Stock Exchange (NSE) shed N8 billion Monday as investors moved in to take profit after stocks closed at record highs last week. Stocks  rode on the wave of positive investor sentiments...

  • Posted November 27, 2013
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  Sanusi cautions against increased spending in 2014

  The Governor, Central Bank of Nigeria, Mr. Lamido Sanusi, has urged the government to be prudent in the management of the nation’s resources in 2014. The governor, in a statement issued on Monday, however, said the reduced...

  • Posted November 27, 2013
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  Court Orders Finance Minister to Disband Tax Appeal Tribunal

  A Federal High Court in Abuja has restrained  Tax Appeal Tribunals established by the Federal Inland Revenue Service (FIRS) from adjudicating on tax matters and federal revenue. Justice Adeniyi Ademola, while giving judgment in an appeal filed...

  • Posted November 27, 2013
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  Heritage Bank gets NIMC mandate

  The National Identity Management Commission (NIMC) has appointed Heritage Bank as one of the banks with the mandate to partake in the National Identity Numbers (NIN) project. With the appointment, Heritage Bank is enlisted as one of...

  • Posted November 26, 2013
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  Money laundering: CBN plans stiffer penalties for banks

  The Central Bank of Nigeria is planning stiffer penalties for banks involved in money laundering as part of efforts aimed at strengthening the fight against criminality. The Chief Compliance Officer, Access Bank Plc, Mr. Pattison Boleigha, who...

  • Posted November 26, 2013
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  Banks extend loan repayment period for farmers

  The Federal Government and Deposit Money Banks have resolved to extend the loan repayment period for farmers from six months to one year. According to the government, the expansion is to ensure further increase in food production...

  • Posted November 26, 2013
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  AMCON took banks’ earnings to where they are today – Chike-Obi

  As holders of the Asset Management Corporation of Nigeria (AMCON) bonds await payment from the corporation, the Managing Director/Chief Executive Officer Mr. Mustapha Chike-Obi told Kunle Aderinokun, Eromosele Abiodun and Obinna Chima the reasons it is refinancing...

  • Posted November 26, 2013
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  Power generation drops by 450MW

  Electricity generation has dropped by 450 megawatts, the Transmission Company of Nigeria has said. The firm said the drop on Saturday was due to vandalism of pipelines supplying gas to the Okpai Power Plant in Delta State....

  • Posted November 26, 2013
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  Sale of refineries may not be transparent – Experts

  There are fears in the Nigerian oil industry that the planned sale of the four government refineries, with a combined capacity of 445,000 barrels per day, may not be transparent. Sources in the industry, who spoke with...

  • Posted November 26, 2013
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  South African firm invests $270m in Nigeria’s oil industry

  CAMAC Energy Incorporated has entered into a definitive agreement with the Public Investment Corporation Limited of South Africa for a $270m equity investment to boost its operation in the Nigerian oil and gas industry. The investment is...

  • Posted November 25, 2013
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