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  • Foreign investors withdraw N483bn from stock market

    Foreign portfolio investment outflow from the Nigerian Stock Exchange amounted to N482.91bn in the first eight months of the year, data obtained from the Exchange showed. According to the Exchange, the FPI outflows include sales transactions or...

    • Posted October 18, 2014
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  • Calabar Port contract followed due process – Niger Global Director

    The award of contract for the Calabar Channel by Nigerian Ports Authority (NPA) to a joint venture, Calabar Channel Management Limited (CCM) and Niger Global Engineering Services Limited, followed due process and not in contravention of any...

    • Posted October 18, 2014
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  • Freight forwarders question SON’s competence

    Freight forwarders in the country have questioned the competence of the Standard Organisation of Nigeria (SON) in the assessment of goods produced in Nigeria or imported into the country. The freight forwarders under the aegis of the...

    • Posted October 18, 2014
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  • FBN Capital to highlight benefits of GDP rebasing

    FBN Capital Limited, the Investment Banking and Asset Management subsidiary of FBN Holdings Plc, has concluded arrangements to showcase how Nigeria can capitalise on the recent gross domestic products (GDP) rebasing. In a statement yesterday, the company...

    • Posted October 17, 2014
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  • FirstBank partners MoneyGram to launch Outbound Service in Nigeria

    First Bank of Nigeria Limited (FirstBank), Nigeria’s largest banking institution, and MoneyGram International, a leader in money transfer and global payment services, today announced the launch of outbound remittance service in Nigeria. Since money transfers began in...

    • Posted October 17, 2014
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  • Transcorp to open hotel in Port Harcourt

    Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc yesterday announced the signing of an agreement with Hilton Worldwide to develop a 250 guestroom Hilton Hotels & Resorts-branded property in Port Harco​urt. A statement...

    • Posted October 17, 2014
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  • Lagos to join oil producing states in 2015

    Lagos State is set to join the league of oil producing states in the country come next year as the joint venture partners on the Aje Field offshore Lagos have taken the final investment decision on the...

    • Posted October 17, 2014
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  • Four Nigerian firms win GE, USAID $400,000 Off-grid Energy Challenge

    Four Nigerian companies have emerged winners of the Power Africa Off-Grid Energy Challenge sponsored by General Electric (GE), the United States Africa Development Foundation (USADF) and the United States Agency for International Development (USAID), with each of...

    • Posted October 17, 2014
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  • Wema Bank grows profit by 345% to N2.5bn

    Wema Bank Plc yesterday reported highly impressive results for the nine months ended September 30, 2014, indicating that the efforts to reposition the bank have started yielded fruits. Wema Bank recorded an increase of 26 per cent...

    • Posted October 17, 2014
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  • Controversy over Heritage’s payment for Enterprise Bank

    There was uncertainty on Wednesday night over whether or not Heritage Bank, the preferred bidder for Enterprise Bank, had fully paid the bid price for the transaction. The Asset Management Corporation of Nigeria said Heritage Bank had...

    • Posted October 17, 2014
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  • Nigeria needs smarter electricity metering systems – Techno

    Electricity distribution companies in Nigeria have been urged to deploy smarter prepaid metering systems owing to the peculiarities of the Nigerian market, which is characterised by power supply diversions and meter overloading, among other issues. This observation...

    • Posted October 17, 2014
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  • FG proposes $78 oil benchmark for 2015 budget

    The Federal Government has proposed $78 as the benchmark price for a barrel of crude oil and fixed the exchange rate at N160 per dollar for the 2015 national budget. The projection, which was contained in the...

    • Posted October 17, 2014
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  • Our ports are attractive to Nigerian importers – Bello

    The Executive Secretary, Nigerian Shippers Council, Mr. Hassan Bello, in this interview with COMFORT OSEGHALE, speaks on the changes in the country’s maritime industry and the controversial Oil and Gas Free Trade Zone Act The most frequent complaint...

    • Posted October 17, 2014
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  • World Bank, WTO pledge trade facilitation support for Nigeria, others

    The World Bank Group and the World Trade Organisation (WTO) have agreed to enhance their co-operation in assisting Nigeria and other developing and least-developed countries to better utilise trade facilitation programmes which can help countries reduce trade...

    • Posted October 17, 2014
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