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  • Fashola asks Discos to embark on more aggressive metering

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), tuesday chaired the second monthly meeting of operators in the power sector in Lagos with the electricity distribution companies, promising more aggressive commitment to metering. The...

    • Posted February 11, 2016
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  • Senate Committee rejects N400m budget for PIB preparation, review of gas masterplan

    The  Senate Committee on Gas Resources tuesday turned down a proposal of N200 million in the budget of the Ministry of Petroleum Resources for the preparation of the Petroleum Industry Bill (PIB). The committee also rejected a...

    • Posted February 11, 2016
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  • 23 million bank customers enrolled for BVN

    A total of 23,345,964 million bank customers had obtained their Bank Verification Numbers (BVN) as at February 7, 2016. The Director, Banking and Payment System Department, Central Bank of Nigeria (CBN), Mr. ‘Dipo Fatokun, who revealed thus...

    • Posted February 11, 2016
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  • Registration for E-Dividend is free – SEC

    The Securities and Exchange Commission (SEC) on Monday said it is free for investors to register for the electronic dividend (e-dividend). Speaking during the first day of sensitisation programme on e-dividend registration in Lagos, Head of Department,...

    • Posted February 10, 2016
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  • CBN’s real sector financing rises to N1.4trn

    The Central Bank of Nigeria (CBN) has put the value of its development finance interventions across the country at about N1.36 trillion. CBN Governor, Mr. Godwin Emefiele, who disclosed this yesterday emphasised that the central bank’s determination...

    • Posted February 10, 2016
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  • TSA proceeds may reduce deficit financing – Adeosun

    Funds transferred to the Treasury Single Account (TSA) domiciled with the Central Bank of Nigeria (CBN) may reduce the level of borrowings to fund the gap in the 2016 budget, Minister of Finance, Mrs. Kemi Adeosun, has...

    • Posted February 10, 2016
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  • Nigerian E-Commerce Startup Africa Internet Group raises $83m

    Some of Africa’s best-funded ecommerce startups recently secured more capital. Africa Internet Group (AIG)—which owns online retailer Jumia and nine other e-ventures—will receive €75 million ($83 million) from Europe’s AXA Insurance in exchange for an eight per...

    • Posted February 10, 2016
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  • Fashola expects year-end power generation to rise by 2000MW

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has expressed his confidence that given the various plans undertaken by the present administration in the power sector, the country may end 2016 with an additional 2,...

    • Posted February 10, 2016
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  • EITI may suspend Nigeria over audit reports

    The global Extractive Industries Transparency Initiative on Monday declared that there was a high probability of suspending Nigeria’s membership of the body, because the country had failed to meet the deadline to publish the 2013 audit reports...

    • Posted February 10, 2016
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  • 12 million Nigerian motorists carry fake insurance papers

    Most motorists are endangering the lives of other road users by driving vehicles on Nigerian roads without appropriate insurance certificates, investigation has revealed. Instead of procuring valid certificates that would provide insurance cover and compensation for road...

    • Posted February 9, 2016
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  • Global investors keen on Nigeria – EY

    A Partner and Emerging Markets and Global Deputy Leader, Ernst & Young, Mr. Rohan Malik, has said international investors are interested in investing in Nigeria as the country presents huge opportunities. Malik identified the financial services sector...

    • Posted February 9, 2016
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  • Dangote to construct new cement plants in Itori, Okpella

    Dangote Cement Plc has announced that it will be building new cement plants in two communities in the country. The new plants are expected to add 9 million metric tonnes per annum (mmtpa) to the company’s current...

    • Posted February 9, 2016
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  • States’ external debt rose by N270bn in five years – DMO

    The 36 states of the federation and the Federal Capital Territory grew their external debts by $1.37bn (N270bn at the current interbank exchange rate of N197 to a dollar) in five years, investigation has shown. Statistics obtained...

    • Posted February 9, 2016
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  • SEC receives 1,500 petitions on bank charges, others

    In the last one month, the Securities and Exchange Commission has received over 1,500 complaints from shareholders of quoted companies, investigations have revealed. Our correspondent gathered on Sunday that the complaints bothered on bank charges, non-payment of...

    • Posted February 9, 2016
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