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  • SEC, labour unions take investor education to workers

    The Securities and Exchange Commission says it has in partnership with labour unions in the country started a financial literacy and investor education drive targeted at Nigeria workers. According to the commission, the drive is aimed at...

    • Posted October 24, 2015
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  • Tax evasion: Six firms face criminal prosecution in Lagos

    The Lagos State Government on Thursday disclosed that it had commenced criminal proceedings against six companies operating within its defined territory without remitting taxes amount to N50 million between 2007 and 2012. The state government named the...

    • Posted October 24, 2015
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  • Nigeria plans $25bn fund to stave off recession

    The country plans to create a $25bn fund with public and private financing to modernise infrastructure and avoid a recession, Vice President Yemi Osinbajo has said. The halving of oil prices since last year has forced Nigeria,...

    • Posted October 23, 2015
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  • Banks, BDCs must demand BVN from November 1 – CBN

    The Central Bank of Nigeria on Wednesday said from November 1, 2015, prospective buyers of foreign currencies must show their Bank Verification Numbers to banks and Bureau De Change operators before they would be allowed to buy...

    • Posted October 23, 2015
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  • 91 companies bid for NNPC’s contract for coastal bunkering vessels service

    The Nigerian National Petroleum Corporation, (NNPC)has began the public opening of technical bids submitted by 91 companies to secure contract for the provision of Coastal and Bunkering Vessel Services. This is contained in a statement by NNPC’s...

    • Posted October 23, 2015
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  • Power firms lack capacity building initiatives – NBET

    Power firms operating in the country, particularly the electricity distribution companies, are in short supply of capacity building initiatives, the Nigerian Bulk Electricity Trading Company Plc has said. The NBET, therefore, urged the power firms to collaborate...

    • Posted October 23, 2015
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  • Lagos oilfield to miss December production target

    The Aje shallow-water field offshore Lagos is now expected to reach first oil at the end of January 2016 as against December this year previously targeted by the joint venture partners on the project. One of the...

    • Posted October 23, 2015
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  • NDIC raises concerns over high incidence of fraud

    The Nigeria Deposit Insurance Corporation has expressed concern over the high incidence of fraud and forgeries in the banking system. The Managing Director/Chief Executive Officer, Alhaji Umaru Ibrahim, noted this in an address presented at the 2015...

    • Posted October 23, 2015
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  • Access Bank records N258bn gross earnings in Q3

    Access Bank Plc said its operations in Nigeria, its sub-Saharan African and the UK recorded strong performances in its unaudited results for the third quarter ended 30 September 2015. The unaudited third quarter 2015 financial results released...

    • Posted October 23, 2015
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  • CSCS restates commitment for dematerialisation of share certificates

    The Central Securities Clearing System Plc has reiterated its commitment towards full dematerialisation of share certificates in the Nigerian capital market. Dematerialisation is conversion of share certificate from paper form to electronic form. The system of issuing...

    • Posted October 23, 2015
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  • MSMEs urged to take advantage of N220bn fund

    The Central Bank of Nigeria (CBN) has beckoned on micro, small and medium scale enterprises (MSMEs) to take advantage of the N220 billion it had made available to  expand their businesses. Central Bank Consultant and Managing Director,...

    • Posted October 23, 2015
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  • Banks urged to focus on strategies to combat e-Fraud

    Beyond developing attractive electronic financial products for their clients, commercial banks have been advised to devise methods of ensuring the highest possible security and protection from attacks on their e-banking platforms. The call was made by Mr....

    • Posted October 22, 2015
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  • FG loses N1.85tn to dubious tax refunds

    By issuing pioneer status certificates to companies other than those granted by law, the Nigerian Investment Promotion Council (NIPC) has caused the government to refund taxes amounting to about N1.850 trillion. The House of Representatives at plenary...

    • Posted October 22, 2015
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  • NIMC to take over BVN, voters’ database

    The Central Bank of Nigeria and the National Identity Management Commission are set to sign a Memorandum of Understanding for the takeover of the Bank Verification Number by the NIMC. The General Manager, Corporate Communications, NIMC, Mr....

    • Posted October 22, 2015
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