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  • Nigeria’s Informal economy

    We should reflect on our informal economy. We have an economy estimated to be worth near $42b, but with the bulk of economic activities happening in the informal economy/black market.  This is the main place where most...

    • Posted September 23, 2011
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  • Reps to investigate NNPC’s remittances to Federation Account

    The House of Representatives yesterday adopted a motion mandating its joint Committee on Finance,  Petroleum Resources  (Upstream and Downstream) and Gas Resources, to investigate how the Nigerian National Corporation (NNPC)  has been remitting revenue into the Federation Account....

    • Posted September 23, 2011
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  • OPIC Board Approves $250 Million in Financing for Union Bank

    The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today approved $250 million in financing for two American firms helping to revitalize a major Nigerian bank, a project that...

    • Posted September 23, 2011
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  • Shell has no plan to invest in oil refining in Nigeria – Mike Mullier

    The Anglo-Dutch oil giant, Shell, said it has no plan to invest in oil refining in Nigeria. The Global Leader Crude Trading, Shell Trading, an arm of Shell Group, Mr Mike Mullier, diclosed this while fielding questions...

    • Posted September 22, 2011
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  • ValuCard Nigeria appoints Agada Apochi as MD/CEO and Bisi Onasanya as Chairman

    The Board of ValuCard Nigeria Limted has appointed Mr. Agada Apochi as Managing Director/Chief Executive Officer and Mr. Bisi Onasanya, Group MD/CEO, First Bank of Nigeria (FBN) as Chairman. Mr. Onasanya takes over as from Philips Oduoza,...

    • Posted September 22, 2011
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  • Sterling Bank offering ETB and AMCON shareholders 20 percent

    Nigeria’s Sterling Bank said on Thursday it will issue 3 billion new shares to acquire privately-held Equitorial Trust Bank, paving the way for the rescued lender to recapitalize ahead of a central bank September deadline. Sterling’s Chief...

    • Posted September 22, 2011
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  • Lafarge Cement to issue 50 bln naira bond

    Lafarge Cement Wapco , the Nigerian unit of the world’s biggest cement maker Lafarge , plans to issue a 50 billion naira ($318 million) bond to refinance loans it took to construct a factory aimed at doubling...

    • Posted September 22, 2011
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  • Fuel Subsidy Debate: The Ruse and Other issues

    Fuel subsidy debates, an emotive discuss will continue to rip apart our socio-political fabric especially with growing energy prices.  Recently, government officials has put the amount at N500 billion, it is said to be twice the cost...

    • Posted September 22, 2011
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  • AFRECO plans N7 billion manganese plant in Nigeria

    Japanese conglomerate, African Economy and Development (AFRECO), plans to establish a N7 billion manganese plant in Nigeria. Manganese is a metal with important industrial metal alloy uses, particularly in stainless steels. AFRECO President Testsuro Yano announced this on...

    • Posted September 21, 2011
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  • ValuCard Nigeria granted Payment Terminal Service Provider License

    ValuCard Nigeria Limited has been granted license by the Central Bank of Nigeria, CBN, to operate as Payment Terminal Service Provider, PTSP in Nigeria. By this development, the company said in a statement, that it is now...

    • Posted September 21, 2011
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  • Nigeria’s cocoa production will double in the next four years – Agric Minister

    Nigeria’s cocoa production will double in the next four years, while wheat and rice imports are set to fall as Africa’s most populous nation strives to be more food self-sufficient, the country’s agriculture minister told Reuters. Nigeria,...

    • Posted September 21, 2011
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  • BusinessNews Needs a Capital Markets Reporter

    BusinessNews is seeking candidates for a capital markets reporter position focusing on Nigeria Stock Exchange, together with coverage of the Bond Market and Mutual funds. A working knowledge of capital markets is advantageous. Candidates should have contacts...

    • Posted September 21, 2011
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  • GTBank Now Let’s You Do Instant Online Payments To Other Banks.

    GTBank now let’s you do instant online payments to other banks, as part of the  banks’ effort to make online payment easy and seamless. “This new service enables you transfer funds from your Guaranty Trust Bank account...

    • Posted September 21, 2011
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  • Fuel Price Hike: Endangering An Already Jeopardized Masses

    The news about the proposed hike in fuel price still continues to ring as untrue to our ears. Incessant fuel price hike has certainly pointed to a lack of creativity in addressing this challenge. It is certainly...

    • Posted September 21, 2011
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