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  • IPMAN cautions members against flouting government’s petrol price

    The President of factional Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo urged its members on Thursday to buy and sell petroleum products at government-regulated prices to avoid incurring avoidable regulatory penalties from the Department of...

    • Posted November 7, 2015
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  • FG urged to explore Capital Market for infrastructure development

    The Managing Director, United Capital Investment Banking, Mr. Wale Shonibare, has urged the federal government to tap into the capital market to raise long term funds for development of  infrastructure. >> He made the call  on Thursday...

    • Posted November 7, 2015
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  • Forbes names Dangote, Putin among world’s most powerful

    The Forbes magazine, in its annual ranking of ‘The World’s Most Powerful People’, has listed the Russian President, Vladimir Putin, as the most powerful ahead of Germany’s Chancellor, Angela Merkel, and United States President, Barack Obama. Africa’s...

    • Posted November 7, 2015
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  • Power: NERC issues 126 licences for 36,040MW

    A total of 126 power firms have received generation licences from the Nigerian Electricity Regulatory Commission to generate 36,040.12 megawatts of electricity for the country. According to NERC, the power firms will generate on-grid, off-grid and embedded...

    • Posted November 7, 2015
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  • Dangote Sugar declares N14.22bn profit

    Dangote Sugar Refinery Plc made a profit before tax of N14.22bn in the nine months ended September 30, 2015, indicating a 1.8 per cent increase on the N13.97bn it reported in the same period of 2014. The...

    • Posted November 7, 2015
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  • Stanbic IBTC shares rise on CBN backing

    The shares of Stanbic IBTC Holdings Plc rose for the first time in eight days on Wednesday, a day after the Central Bank of Nigeria defended the group against the allegations levelled against it by the Financial...

    • Posted November 7, 2015
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  • NNPC sells 35% crude for its use – NEITI

    Out of the 445,000 barrels of crude oil allocated daily to the Nigerian National Petroleum Corporation, the firm sells about 35 per cent (155,750bpd) to meet its own needs, the Nigerian Extractive Industries Transparency Initiative has said....

    • Posted November 6, 2015
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  • CBN initiates EPIS to encourage cashless transactions

    The Central Bank of Nigeria (CBN) has introduced Electronic Payment Incentive Scheme (EPIS) to encourage the use of debit cards in line with its cashless policy of the apex bank. Senior Manager Banking and Payment System of...

    • Posted November 6, 2015
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  • Nigeria needs full implementation of broadband plan – Ndukwe

    Optimistic that Nigeria will meet and even surpass the projected 30 per cent Broadband penetration by 2018, as contained in the National Broadband Plan, a former Executive Vice Chairman of the Nigerian Communications Commission (NCC), Ernest Ndukwe...

    • Posted November 6, 2015
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  • MTN wants $5.2bn fine slashed by 80%

    MTN Group Ltd in South Africa is making some moves to get the $5.2 billion fine imposed by the Nigerian Communications Commission (NCC) reduced by as much as 80 per cent and it is considering borrowing money...

    • Posted November 6, 2015
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  • Airport facilities obsolete – FAAN MD tells Senate

    The Managing Director of the Federal Airports Authority of Nigeria, Mr. Saleh Dunoma, told the Senate Ad-hoc Committee on Aviation on Tuesday that most of the facilities and equipment at the nation’s airports were obsolete as most...

    • Posted November 6, 2015
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  • Rice investors brace for the worst as smugglers prosper again

    Smuggling of rice across the Nigerian borders has reached prohibitive levels, with hundreds of trailers plying back and forth from neighbouring countries carrying illegal shipments of the staple food, THISDAY has learnt. The nation’s supply gap was...

    • Posted November 6, 2015
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  • Court restrains FRC as Standard Bank Group backs Nigerian unit

    The Federal High Court in Lagos on Wednesday restrained the Financial Reporting Council of Nigeria (FRCN) from interfering with the operations of Stanbic IBTC Holdings (SIBTCH), Plc. Also, the Standard Bank Group reiterated its support for SIBTCH,...

    • Posted November 6, 2015
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  • FG to lead purchase of made-in-Nigeria cars

    Top functionaries of the Federal Government may be compelled to buy made-in-Nigeria vehicles as official cars and other uses as a part of measures to boost local production of automobiles. Vice-President Yemi Osinbajo made the declaration in...

    • Posted November 6, 2015
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