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  • Telecoms companies to disconnect substandard phones from networks – SON

    Dr. Joseph Odumodu, Director General, Standards Organisation of Nigeria (SON) has disclosed that In no distant future, the Federal Government will order telecommunication companies in the country to begin a nationwide switch-off of over 12.6 million fake...

    • Posted August 8, 2014
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  • Bilateral trade between US, Nigeria hits $36bn annually

    Bilateral trade between the United States of America and Nigeria has risen to $36bn annually, just as President Goodluck Jonathan called for more US investment in Nigeria. The president disclosed the late Wednesday in Washington DC. According...

    • Posted August 8, 2014
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  • Dangote partners Blackstone, Carlyle in $5bn energy deal

    Africa’s richest man Aliko Dangote has gone into partnership with Blackstone Group LP and Carlyle Group LP, the world’s two biggest private-equity firms, to invest in energy infrastructure in Nigeria and Africa. “They want to invest heavily,”...

    • Posted August 8, 2014
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  • Naira falls on importer dollar demand

    The naira fell by 0.43 per cent against the dollar on the interbank market on Wednesday after importers brought forward their obligations to take advantage of a recent rally in the local currency. According to Reuters, the naira...

    • Posted August 8, 2014
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  • Union Bank targets 40% loan growth in 2014

    Union Bank of Nigeria Plc aims to boost its loan portfolio by 30 per cent in the second half of 2014, after increasing it by 10 per cent in the first six months. The bank is targeting...

    • Posted August 8, 2014
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  • CBN adjusts computation of regulatory capital for banks

    The Central Bank of Nigeria (CBN) has announced the exclusion of non-distributable regulatory reserve and other reserves in the computation of regulatory capital of banks and discount houses. The central bank stated this in a circular with...

    • Posted August 8, 2014
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  • GTBank uses Forte Oil network to grow business

    Guaranty Trust Bank Plc has leveraged the reach of Forte Oil’s network of over 500 stations nationwide to further bring banking services such as account opening, cash deposit and withdrawal via ATMs, customer enquiries, bills payment and...

    • Posted August 8, 2014
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  • Power: Nigeria, others to get $5bn from W’Bank

    The World Bank Group on Wednesday announced the commitment of $5bn (N800bn) in new technical and financial support to energy projects in six African countries. The countries, which have partnered the Power Africa initiative of the United...

    • Posted August 8, 2014
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  • FG approves upgrade of second Niger Bridge

    Vice President Namadi Sambo on Wednesday said the Federal Government had approved the upgrade of work on the second Niger Bridge. According to a statement by Sambo’s spokesman, Umar Sani, the vice president disclosed this while receiving...

    • Posted August 8, 2014
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  • Power supply: FG to utilise renewable energy resources

    Vice President Namadi Sambo on Thursday said the Federal Government would utilise the country’s abundant renewable energy resources to enhance electricity supply across the country.A statement by his spokesman, Umar Sani, quoted the Vice President as speaking...

    • Posted August 8, 2014
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  • AfDB predicts 5.8% growth for Africa in 2014

    The African Development Bank (AfDB) has said growth in the Sub Saharan Africa is projected to reach 5.8 per cent in 2014 while the continent as a whole is expected to grow at between 5 per cent...

    • Posted August 8, 2014
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  • Production in Shell’s new oil well to raise Nigeria’s crude oil earnings by N672m daily

    Shell Nigeria Exploration and Production Company Limited, SNEPCo’s commencement of productions on Wednesday from the first well at the Bonga North West deep-water development offshore Nigeria is raising the hopes of Nigeria’s crude oil production rising by...

    • Posted August 7, 2014
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  • President Jonathan demands for US support to boost economic growth

    President Goodluck Jonathan, on wednesday pursued greater support from the United States in an effort to make other sectors of the Nigerian economy more productive. The President made the call in in Washington DC, USA. He stated...

    • Posted August 7, 2014
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  • Custodian and Allied explains impressive results

    Custodian and Allied Plc yesterday attributed the impressive results for the half year ended June 30, 2014 to favourable underwriting income from insurance subsidiaries and remarkable efficiency gains group wide. Custodian and Allied Plc, a wholly owned...

    • Posted August 7, 2014
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