All posts by Ifreke Inyang

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  NIRSAL: CBN pledges N25b to agric loans

  The Central Bank of Nigeria (CBN) says it has so far guaranteed N25 billion loans to the nation’s agricultural sector through the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) since July last year, when the...

  • Posted August 6, 2013
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  48.3 million Nigerians browse Internet on mobile phones

  A total of 48.3 million telephone subscribers actively browse the Internet on their mobile phones, investigations have shown. Statistics obtained from the Nigerian Communications Commission on Friday showed that Internet subscriptions through the telecommunications operators increased by...

  • Posted August 5, 2013
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  Government agencies failed to remit N256.36bn revenue – National Assembly

  Revenue generating agencies of the Federal Government failed to remit to the Consolidated Revenue Fund of the Federal Government the sum of N256.6bn out of the expected N512.117bn revenue between 2009 and 2012, according to the National...

  • Posted August 5, 2013
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  Power: FG seeks $450m from Islamic Development Bank

  The Federal Government has sought the support of the Islamic Development Bank for the provision of about $450m to expand the power transmission system to wheel up to 20,000 megawatts of electricity. A statement on Sunday quoted...

  • Posted August 5, 2013
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  GTBank, AFC, Mainstream sign $170m deal to finance Kainji Power

  Guaranty Trust Bank Plc, NSE and multilateral financial institution, Africa Finance Corporation, AFC, have provided a US$170 million (N27.2 billion) facility to Mainstream Energy Solutions Limited Consortium, MESL, for the acquisition of Kainji Power station, one of...

  • Posted August 5, 2013
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  Integration of West African insurance market imperative – NAICOM

  The Commissioner for Insurance, Mr. Fola Daniel has called for integration of the insurance sector in the West African sub region and Guinea-Conakry, saying that the move is not an option but an imperative. Daniel made the...

  • Posted August 5, 2013
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  Shell moves to buy Chevron oil blocs

  Oil giant, the Royal Dutch Shell Plc has notified the Nigerian government that it would like to buy some of U.S. firm, Chevron Nigeria’s licences. A report by the US-based Wall Street Journal, WSJ, filed from London,...

  • Posted August 5, 2013
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  Nigeria’s debts are sustainable – DMO

  There are concerns by Nigerians and other stakeholders over the nation’s debt profile. But the Director General of the Debt Management Office (DMO), Dr. Abraham Nwankwo, insists that Nigeria’s debts are sustainable as there is no fear...

  • Posted August 5, 2013
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  Bond funds worldwide suffer $1.6bn outflow — BoA

  Bond funds worldwide suffered outflows of $1.6bn in the latest week as investors awaited signs from the Federal Reserve regarding its bond-buying stimulus, data from a Bank of America Merrill Lynch Global Research report showed Friday. Reuters reported...

  • Posted August 4, 2013
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  Customs intercept 3,263 bags of rice in Oyo

  The Nigeria Customs Service, Oyo/Osun Command, said on Friday it had intercepted 3,263 bags of rice allegedly being illegally conveyed into the country via three articulated trucks. The Customs Area Controller of the Command, Mr. Richard Oteri,...

  • Posted August 4, 2013
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