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  • Nigeria to lead African hospitality market with 10.5% revenue gain

    The Nigerian hospitality market is set to overtake the rest of Africa as the fastest-growing over the next five years, with a projected compound annual gain in room revenue of 10.5 percent. This is despite the challenges...

    • Posted May 15, 2015
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  • IDB delays short-term sukuk as sector looks for liqudity tools

    The Jeddah-based Islamic Development Bank has no immediate plans to issue short-term sukuk (Islamic bonds), leaving it to domestic and regional issuers to meet growing demand for liquidity management tools in the sector. A lack of sharia-compliant...

    • Posted May 15, 2015
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  • Constitution review: Taxpayers’ N4bn wasted, as Senate fails to override Jonathan’s veto

    Four billion naira (N4 billion) of taxpayers’ money spent by the seventh National Assembly in amending the 1999 constitution has gone down the drain, as efforts by the Senate to override President Goodluck Jonathan’s veto on Wednesday...

    • Posted May 15, 2015
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  • BAs value up N330bn in 2014 on investors’ appetite

    Investors in 2014 executed N330 billion worth of transactions in banker’s acceptances (BA), BusinessDay investigations have shown. The BA accounted for 72 percent of the N457 billion which was the combined monetary value of the short term...

    • Posted May 14, 2015
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  • Little impact seen in last MPC meeting before May 29 handover

    Holding just a few days from a crucial May 29 government handover date, Nigeria’s Monetary Policy Committee (MPC) meeting may have little or no significant effect on the markets , according to analyst opinions polled by BusinessDay....

    • Posted May 14, 2015
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  • Taxpayer’s stake in Lloyds now below 20%

    The government’s stake in Lloyds Banking Group has now fallen below 20 per cent following the latest share sale. A further £500m was raised in the disposal, which meant the Treasury has now recouped more than half...

    • Posted May 14, 2015
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  • CBN, banks, oil firm chiefs in crisis talks over forex

    The Central Bank of Nigeria (CBN) on Monday held talks with oil companies and bank CEOs, largely to address issues around the supply of forex to the market, BusinessDay has been told. A similar meeting was held...

    • Posted May 14, 2015
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  • First Bank, Unified Payments in e-payment agreement

    First Bank of Nigeria Limited says it has partnered the Unified Payments to implement PayAttitude, a transaction innovation meant to boost e-payment system in Nigeria. A statement by First Bank said the development was part of its...

    • Posted May 14, 2015
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  • Fidelity Bank raises N30bn to fund critical sectors

    Fidelity Bank Plc has concluded plans to raise N30bn additional capital from the capital market to finance critical sectors of the economy. The lender said the funds would be used to finance the Small and Medium Enterprises...

    • Posted May 14, 2015
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  • Kenya Power receives $10m loan facility from UBA

    Kenya Power company has acquired a US$10 million loan facility from the United Bank of Africa (UBA) to upgrade its infrastructure to distribute 5,000 megawatts of electricity by 2017. A US$10 million loan facility from UBA will...

    • Posted May 14, 2015
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  • BoI disburses N127bn loans to MSMEs

    The Bank of Industry says it has disbursed a total loan of N127bn to Medium, Small and Medium Enterprises in the country within the 2014 financial year. Through the disbursement of the loans to the enterprises, the...

    • Posted May 14, 2015
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  • FRC crisis deepens as board members accuse executive secretary of distorting salary structure

    The last may not have been heard of disaffection among the board members of the Financial Reporting Council of Nigeria (FRC) as some of its members are accusing Jim Obazee, the executive secretary, of distorting the nominal...

    • Posted May 14, 2015
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  • Govt should focus more on tax –NBS

    The Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Dr. Yemi Kale, says the only sustainable source of revenue for any government that wants to develop is tax. Amid the declining oil revenue,...

    • Posted May 13, 2015
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  • States risk insolvency as FAAC revenue drought worsens

    Things may be falling apart for Nigeria’s state governments as the revenue from the centre can no longer hold. This summarises the current financial status of many of the 36 federating units in Africa’s largest economy, due...

    • Posted May 13, 2015
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