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  • Nigeria, Angola, Ghana to account for 87% of subsea market

    Despite the slump in crude oil prices, projects in West Africa will largely continue to fuel Africa’s subsea demand, with Nigeria, Angola and Ghana projected to account for 87 per cent of West Africa’s capital expenditure (capex)...

    • Posted March 11, 2015
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  • Obiano to inaugurate $100m Ekcel Farm Project

    As part of activities commemorating his one year in office, Governor Willie Obiano of Anambra State will Wednesday inaugurate a monumental site for the formal take off of the $100 million Ekcel Farm project in the state....

    • Posted March 11, 2015
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  • NDIC can’t supervise banks – CBN tells Senate

    The Central Bank of Nigeria on Monday rejected some of the proposed amendments to the Nigeria Deposit Insurance Corporation Act. The central bank insisted that some provisions in the document were targeted at usurping some of its...

    • Posted March 11, 2015
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  • Financial sector helps NSE index gain 0.5%

    The Nigerian Stock Exchange opened the week on a positive note, buoyed by financial sector stocks. Gains by 16 stocks in the sector and 12 others boosted the NSE All-Share Index by 146.56 basis points or 0.5...

    • Posted March 11, 2015
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  • Enterprise Bank introduces cooperative loan scheme

    Enterprise Bank has introduced a loan scheme for trade unions and cooperative societies in private and public organisations. The lender said the move was in line with its commitment to continually meet the needs of its growing...

    • Posted March 11, 2015
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  • Senate kills insurance brokerage bill

    Attempts to seek legal backing for insurance brokerage and accord professional status to the practitioners were frustrated by the Senate on Monday at a public hearing organised by its Committee on Banking, Insurance and other Financial Institutions....

    • Posted March 11, 2015
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  • LCCI predicts declining investors’ confidence

    The Lagos Chamber of Commerce and Industry (LCCI) has predicted that business leaders will be averse to investing in the nation’s economy, noting that the drop of the Business Confidence Index (BCI) from 30 per cent it...

    • Posted March 11, 2015
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  • Laid-off casual workers accuse CBN of non-payment of benefits

    Over 500 temporary members of staff who were disengaged in 2008 have accused the Central Bank of Nigeria (CBN) of non-payment of terminal benefits despite a resolution of the House of Representatives asking that the payments be...

    • Posted March 10, 2015
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  • Retailers hit by naira devaluation

    The effect of the naira devaluation and the recent unification of the foreign exchange markets are taking their toll on retailers in Lagos state, a report has shown. This had resulted to a sharp drop in stock...

    • Posted March 10, 2015
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  • Nigerian banks safe – CBN

    The Central Bank of Nigeria has said the country’s Deposit Money Banks are safe and have no liquidity problems. It based its assessment on the outcome a recent stress test conducted on the banks. The CBN stated...

    • Posted March 10, 2015
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  • CBN to issue N730bn Treasury Bills in second quarter

    In line with its restrictive monetary policy stance, the Central Bank of Nigeria (CBN) has said it will issue treasury bills worth a total of N730.499 billion in the second quarter of this year. A breakdown of...

    • Posted March 10, 2015
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  • Nigerians urged to brace up for aggressive tax drive by governments

    Following the significant drop in governments’ revenue as a result of the plunge in crude oil prices, tax payers in the country have been advised to prepare for aggressive tax drive by the Federal Inland Revenue Service...

    • Posted March 10, 2015
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  • MAN condemns electricity tariff increase

    The Chairperson, Abuja Council of the Manufacturers Association of Nigeria, Dr. Wosilat Shittu, has condemned the withdrawal of the Multi Year Tariff Order by the Nigerian Electricity Regulatory Commission. This, she said, would have adverse effect on...

    • Posted March 10, 2015
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  • N330bn mobile money revenue target under threat

    A global management consulting firm, the Boston Consulting Group, has projected that Nigeria stands to generate $1.5bn (about N330bn) from mobile money services by 2019. But financial experts say the heartwarming projection may remain a dream unless...

    • Posted March 10, 2015
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