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  • EFCC may recover N40bn debt for Unity Bank

    The management of Unity Bank Plc plans to invite the Economic and Financial Crimes Commission to help it recover the over N40bn debt owed by customers who have been failing to fulfil their loan obligations. The Managing...

    • Posted October 11, 2014
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  • FG to issue title documents to power firms

    The Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, has said that the ministry is set to commence the issuance of Certificates of Occupancy to the successor companies of the Power Holding Company of Nigeria...

    • Posted October 11, 2014
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  • PZ records 31% decline in PBT, PAT in first quarter

    PZ Cussons Nigeria (PZ) Plc Thursday  announced its first quarter results, which showed that while sales of N15.0 billion were flattish y/y, both profit before tax (PBT) and profit after tax (PAT) declined both by 31 per...

    • Posted October 11, 2014
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  • Corruption in NNPC undermining states’ revenue – Amaechi

    Rivers State Governor, Hon. Chibuike Amaechi, has said the level of corruption at the Nigerian National Petroleum Corporation (NNPC) was the cause of the dwindling resources of state governments in the country. Amaechi spoke yesterday in a...

    • Posted October 11, 2014
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  • Power firms to refund customers who buy transformers, others

    Customers who finance the acquisition of power assets may start getting back their money from the respective electricity distribution companies from December this year, the Nigerian Electricity Regulatory Commission has said. The affected power assets include electric...

    • Posted October 11, 2014
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  • 1,412 employers give workers insurance cover

    By the end of the 2013 financial period, 1,412 employers of labour had insured their workers under the Group Life Insurance Policy as prescribed by the National Pension Commission. PenCom disclosed exclusively to our correspondent that the...

    • Posted October 11, 2014
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  • Aiteo to boost FG local content aspiration with $2.8billion

    Aiteo Group, one of Africa’s foremost conglomerates, leading a consortium of five other companies has won the bid for the Royal Dutch Shell’s prolific Nigerian oil block, Oil Mining License 29 and an associated pipeline with a...

    • Posted October 10, 2014
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  • Kano unveils eCommerce project

    Kano State Governor, Rabiu Musa Kwankwaso, the Emir of Kano State, Mallam Muhammad Sanusi II and other Northern leaders, gathered at the government house in Kano to unveil the state’s eCommerce project, which marked a turning point...

    • Posted October 10, 2014
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  • Standard Chartered Bank launches Consumer Price Tracker

    Standard Chartered bank has launched the standard chartered premise consumer price tracker (SC-PCPT) in its effort to improve data collection in Nigeria. This data collection will  focus primarily on general price trend of food prices across the...

    • Posted October 10, 2014
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  • NSE, ASHON laud new trading platform

    The Nigerian Stock Exchange and the Association of Stockbroking Houses of Nigeria have hailed the impact of the Exchange’s X-Gen trading platform, one year after it was inaugurated. The Exchange had inaugurated the X-Gen, described as the...

    • Posted October 10, 2014
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  • Fitch predicts drop in profits for banks

    European rating agency, Fitch Ratings, has predicted a drop in profits for Nigerian banks due to the Central Bank of Nigeria’s policies which are aimed at protecting the economy and the banking system. Quoting  Fitch’s rating yesterday,...

    • Posted October 10, 2014
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  • Minister seeks increased telecoms infrastructure to curb poor service quality

    The Minister of Communications Technology, Dr. Omobola Johnson has decried the low level of telecoms infrastructure in the country, and enjoined operators to increase the number of installed infrastructure so as to address the issue of poor...

    • Posted October 10, 2014
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  • Market capitalisation declines by N36bn on profit-taking

    The equities market closed on a negative note on Wednesday in the first trading day of the week, with the major market indicators declining. The market capitalisation of the listed equities fell by N36bn or 0.26 per...

    • Posted October 10, 2014
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  • NCP yet to decide on TCN sale

    With so much said already about the privatisation of the country’s power infrastructure backbone, Transmission Company of Nigeria, indications have emerged that the National Council on Privatisation has yet to meet on the matter. Without the council...

    • Posted October 10, 2014
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