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  • FG reopens MMIA cargo terminal after 14-day closure

    The Federal Government has reopened the cargo terminal of the Murtala Muhammed International Airport, Lagos. A visit to the terminal by our correspondent on Wednesday showed that scanty activities had commenced after two weeks of closure. People...

    • Posted December 5, 2014
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  • Winning bidder offers $252m for NITEL, M-Tel

    A Special Purpose Vehicle, NATCOM Consortium, on Wednesday offered to pay $252.25m for the Nigerian Telecommunications Limited and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited. With no competitor, and with the offer meeting the reserve price...

    • Posted December 5, 2014
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  • FCMB pledges support for oil, gas sector

    FCMB Capital Markets Limited, the investment banking arm of FCMB Group Plc, says it will support the Federal Government’s oil and gas reserves growth agenda by supporting indigenous operators. A statement by the lender quoted the Executive...

    • Posted December 5, 2014
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  • Heritage Bank introduces portable PoS machines

    Heritage Banking Company Limited has introduced a smaller form of point of sale (PoS) solution christened ‘PortaPOS’ to ride on the mPOS revolution, which is fast gaining acceptance worldwide. The device is aimed at providing seamless payment...

    • Posted December 5, 2014
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  • Naira rebounds on Central Bank’s intervention

    The naira rose sharply against the dollar yesterday as the Central Bank of Nigeria (CBN) intervened three times to lift the nation’s currency from yet another record intra-day low, some dealers revealed. The naira closed at N181...

    • Posted December 4, 2014
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  • Oil shock: FG moves to shore economy with building, construction industry

    The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, and her counterpart in the ministry of Housing, Land and Urban Development, Mrs. Akon Eyakenyi, on Thursday urged stakeholders in the housing and construction...

    • Posted December 4, 2014
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  • Nigeria attracts largest investments in Africa – Jonathan

    Nigeria attracted the largest investments in the whole of Africa in the last three years, President Goodluck Jonathan has said. The President told private sector investors that although the country had been characterised by various challenges, businesses...

    • Posted December 4, 2014
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  • Banks lose N5.76bn to fraud in 2013

    The Nigerian banking sector recorded an 11.12 per cent rise in cases of financial fraud losing N5.76 billion in 2013 of which N2.5 billion was recorded in the first quarter of the year alone. Total fraud cases...

    • Posted December 4, 2014
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  • NUPENG cautions FG against continued drop in crude oil refining

    The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has expressed concern over the current drop in petroleum product output from the refineries, describing the development as unfortunate for the oil and gas industry. It warned...

    • Posted December 4, 2014
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  • Fuel scarcity looms over delayed subsidy payments

    The reluctance of some oil marketers to import petrol owing to alleged non-payment of subsidy arrears and the subsequent reduction in loading activities at the Apapa depots are currently putting serious pressure on product supply across the...

    • Posted December 4, 2014
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  • NSE index sheds 1.07%

    The equities market closed on a negative note for the third straight session on Tuesday as investors gave in to selling pressure. After recording gains for three sessions, following the announcement of the devaluation of the naira,...

    • Posted December 4, 2014
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  • SON bill passes second reading in Senate

    A bill seeking stiffer punishments for importers of substandard products into Nigeria, scaled second reading in the Senate on Tuesday. The bill also seeks to repeal and re-enact the standards Organisation of Nigeria Act 2004 for the...

    • Posted December 4, 2014
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  • Equities value falls by N208bn

    The Nigerian Stock Exchange closed on a negative note on Monday as the market capitalisation of the listed equities fell by N208bn or 1.82 per cent from N11.404tn to N11.196tn. Also, the NSE All Share Index declined...

    • Posted December 4, 2014
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  • Aviation agencies to contribute 25% of earnings to FG

    The Minister of Aviation, Osita Chidoka, on Tuesday said henceforth aviation agencies must be contributing 25 per cent of their revenues to the federal government. Chidoka said this was to ensure that the parastatals did not squander...

    • Posted December 4, 2014
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