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  • CBN, IFC to launch collateral registry in June

    The International Finance Corporation and the Central Bank of Nigeria are collaborating to launch National Collateral Registry in June, the Project Manager, IFC, Mr. Ubong Awah, has said. He stated this at a three-day workshop on the...

    • Posted March 26, 2015
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  • GIABA seeks collaboration against money laundering, terrorism financing

    The Inter-governmental Action Group against Money Laundering in West Africa (GIABA) has called for increased collaboration against money laundering in the region. Director General, GIABA, Mr. Adamu Coulibaly made this call in an address presented at a...

    • Posted March 26, 2015
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  • Nigerians generate 2,500MW from diesel, petrol, kerosene – NNPC

    Nigerian households and businesses generate 2,500 megawatts of electricity from petrol, kerosene and Automotive Gas Oil (AGO, popularly known as diesel), according to an analysis by the Nigerian National Petroleum Corporation (NNPC). Speaking at a special session...

    • Posted March 25, 2015
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  • Julius Berger mulls partnership with power sector investors

    Construction giant, Julius Berger, has said it is considering potential partnerships with credible investors willing to invest in the upgrade of Nigeria’s electricity supply systems. Julius Berger, like General Electric (GE), which has staked claims in Nigeria’s...

    • Posted March 25, 2015
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  • Electricity tariff reduction not political – NERC

    Against the backdrop of criticisms that the recent removal of distribution losses from electricity tariffs and the subsequent reduction of the amount payable by consumers was a political move, the Nigerian Electricity Regulatory Commission has said the...

    • Posted March 25, 2015
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  • Nigeria, Kenya, Uganda, South Africa top TEF’s $100m Entrepreneurship Programme

    The Tony Elumelu Foundation (TEF) on Monday announced its first 1,000 African entrepreneurs for the Tony Elumelu Entrepreneurship Programme (TEEP). The top five countries in terms of the number of winners in the $100 million entrepreneurship programme...

    • Posted March 25, 2015
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  • CAR: CBN extends deadline for systemically important banks

    The Central Bank of Nigeria (CBN) has extended the deadline for the implementation of higher capital adequacy ratio (CAR) requirements for systemically important banks (SIBs), THISDAY learnt on Monday. THISDAY also gathered that the banking sector regulator...

    • Posted March 25, 2015
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  • Bank lending to economy hits N17.2tn

    Aggregrate banking system credit to the domestic economy rose by 7.1 per cent to N17.2tn in January, the Central Bank of Nigeria’s latest monthly economic report released on Monday indicated. This was in contrast to the growth...

    • Posted March 25, 2015
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  • CPC to prosecute companies for consumer rights abuse

    The Director-General, Consumer Protection Council, Mrs. Dupe Atoki, has decried the high rate of consumer rights abuses in the telecommunications, aviation, banking and power sectors of the Nigerian economy. Atoki said the prevalence of consumer abuses in...

    • Posted March 25, 2015
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  • All dams to produce electricity – FG

    To boost electricity generation in the country, the Federal Government on Monday said it would attach hydropower components to all dams across the country. The Minister of Water Resources, Mrs. Sarah Ochekpe, said the hydropower components would...

    • Posted March 25, 2015
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  • Development bank begins operation with N300bn

    President Goodluck Jonathan on Monday formally inaugurated the Development Bank of Nigeria with a capital base of $1.5bn (about N300bn). The bank is being supported by development partners such as the African Development Bank, World Bank, Agence...

    • Posted March 25, 2015
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  • Nigeria’s rating downgrade threatens Bond rally

    A rally that made Nigerian bonds the best performers in Africa in March risks coming to an end as the credit rating of the continent’s biggest economy slides deeper into junk. Standard & Poor’s lowered its assessment...

    • Posted March 25, 2015
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  • CBN likely to hold interest rate

    The Central Bank of Nigeria (CBN) which commences its second monetary policy committee (MPC) meeting for the year this Monday, is likely to maintain interest rate and other monetary policy tools. The committee is expected to consider...

    • Posted March 24, 2015
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  • FG’s revenue may decline by 25% this quarter

    Nigeria’s federally collected revenue is likely to decline further by about 25 per cent this quarter, the chief executive officer, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane has predicted. Rewane said the declining revenue will serve...

    • Posted March 24, 2015
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