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  • Nigeria’s distributable revenues fall to lowest in 5 years

    Nigeria’s revenues distributable to the three tiers of government hit a five-year low in April, the accountant general Jonah Otunla said on Friday, due to frequent shutdowns of oil trunklines and export terminal pipelines. The total revenue...

    • Posted May 17, 2015
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  • Nestlé hosts media workshop on nutrition

    In a bid to improve the reporting skills of media practitioners, Nestlé Nigeria is set to organise the fourth edition of Creating Shared Value Media Workshop, a statement from the company stated. According to the statement signed...

    • Posted May 16, 2015
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  • Olam invests in local rice production

    Olam Nigeria Limited has unveiled plans to increase its stake in the rice industry as part of efforts to aid the realisation of the self-sufficiency and the job creation targets of the government. A statement from the...

    • Posted May 16, 2015
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  • Presco Nigeria expansion drive pays off as earnings surge

    Presco plc, a Nigerian palm-oil producer, is reaping the benefits of aggressive expansion as it ended 2014 with a surge in profits. For the year ended December 2014, the company’s net income increased by 95.48 percent to...

    • Posted May 16, 2015
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  • Interbank rates rise on energy firm’s NNPC cash recall

    Interbank lending rates rose to 14.25 percent on average on Friday from 9.25 percent last week, after state-owned energy company NNPC recalled some of its deposits from banks. NNPC sells dollars to some lenders on a monthly...

    • Posted May 16, 2015
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  • Skye Bank 2014 pretax profit falls to N10.47 billion

    Skye Bank said on Friday its 2014 pretax profit fell 46.6 percent to 10.47 billion naira ($53 million), compared with 19.64 billion naira in the previous year. Gross earnings however rose to 136.74 billion naira from 132.39...

    • Posted May 16, 2015
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  • FG sells N60bn bonds at lower yields

    The Federal Government sold bonds worth N60bn at lower yields on all tenors at an auction on Wednesday, the Debt Management Office said on Thursday. The debt office said in a statement that investors submitted total bids...

    • Posted May 16, 2015
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  • Wamakko inaugurates N30m rice mill in Sokoto

    Gov. Aliyu Wamakko of Sokoto State on Friday inaugurated a N30 million rice mill established by an investor, Alhaji Nura Attajiri. The combined capacity of the mill is 1,250 kilograms per hour while operating for eight hours...

    • Posted May 16, 2015
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  • Sustained growth, returns position Nigeria as next frontier for institutional investments

    Notwithstanding Nigeria’s very low ranking for ease of doing business, sustained growth and high return on investment have positioned the country as the next frontier for institutional investments. Nigeria’s institutional investment market, among the core asset classes...

    • Posted May 16, 2015
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  • House of The Week: An Awesome 5 Bedroom House For Sale at Ajah, Lagos

    Our house of the week is a 5 bedroom semi-detached duplex for sale at Mayfair Gardens Estate, Ajah. This house has 5 bedrooms, 6 bathrooms, 2 lounges and 1 dining area. All rooms are en suite and...

    • Posted May 15, 2015
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  • FTSE, Stanbic IBTC develop Nigeria pension fund benchmark

    Global index provider, FTSE Group, on Thursday announced the development of the FTSE Nigeria Investable Pension Fund Benchmark, which makes it possible to measure the performance of the equity portion of pension funds. According to the group,...

    • Posted May 15, 2015
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  • IMF chief economist to retire

    Olivier Blanchard, the influential chief economist of the International Monetary Fund, has announced plans to retire this year, leaving a large hole in the world’s leading financial institution. Financial Times reported that the Frenchman steered the IMF’s...

    • Posted May 15, 2015
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  • Oil slump: LASG stresses importance of tax revenue

    Governor Babatunde Fashola of Lagos State says governments can only survive on taxes as declining oil prices and soaring debt profile continue to hit governments. He stated this at the inauguration of the Chartered Institute of Taxation...

    • Posted May 15, 2015
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  • CIBN to address key banking issues

    The Chartered Institute of Bankers of Nigeria says it has concluded plans to address key issues relating to the banking sector of the economy at its Annual General Meeting holding this week in Lagos A statement by...

    • Posted May 15, 2015
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