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  • New BDC guidelines to conserve Forex Reserves – CBN Insists

    The Central Bank of Nigeria (CBN) has reiterated that its modifications to the guidelines on the regulation of Bureau de Change (BDCs) in Nigeria are aimed at conserving the country’s foreign reserves, among other objectives. This position...

    • Posted July 19, 2014
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  • New BDC guidelines not against any ethnic group – CBN

    The Central Bank of Nigeria (CBN) has explained that the new policy on the regulation of Bureau de Change (BDCs) in the country was not a deliberate one to annihilate the business interests of any section of...

    • Posted July 18, 2014
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  • FEC approves N1.3bn for feasibility study of standard rail lines

    Federal Executive Council (FEC) yesterday approved N1.3bn for a standard rail feasibility study on six rail lines. The approval of the contractual sum was announced by the Minister of Information, Labaran Maku, shortly after the weekly FEC...

    • Posted July 18, 2014
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  • 200 BDCs have met recapitalisation requirements — Emefiele

    The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Wednesday disclosed that over 200 Bureau de Change companies had met the new guidelines introduced by the bank recently. The CBN had recently increased the capital base...

    • Posted July 18, 2014
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  • Emefiele urges more commitment towards achieving Monetary Union

    Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday urged member countries of the West African Monetary Zone (WAMZ) to redouble their efforts towards meeting all the revised macroeconomic convergence criteria needed to launch...

    • Posted July 18, 2014
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  • Private equity firm to sell 50% stake in Continental Re

    Continental Reinsurance Plc has notified the Nigerian Stock Exchange (NSE) that a private equity firm, Emerging Capital Partners, has concluded plans to sell its 50.6 per cent stake in the company. Emerging Capital Partners is the majority...

    • Posted July 18, 2014
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  • NERC, EMSL rivalry threatens power sector reforms

    Indications have emerged that the country’s nascent power sector reforms are under serious threat as a result of the supremacy battle between the Nigerian Electricity Regulatory Commission and the Electricity Management Service Limited. The rivalry between both...

    • Posted July 18, 2014
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  • NNPC set for oil bunkering business

    The Nigerian National Petroleum Corporation has said very soon it will start its oil bunkering business officially. The Group Managing Director, NNPC, Mr. Andrew Yakubu, confirmed this to newsmen at a capacity building programme organised by the...

    • Posted July 18, 2014
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  • Bresson SA to generate 90MW from Magboro plant

    The Minister of Power, Prof. Chinedu Nebo on Friday July 11, 2014 performed the ground breaking ceremony for the 90 megawatt Magboro power plant owned by Bresson SA Nigeria Limited. The event which was attended by power...

    • Posted July 18, 2014
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  • NAFDAC yet to remit N1.44bn operating surplus – FRC

    The National Agency for Food and Drug Administration and Control has yet to pay operating surpluses amounting to N1.44bn to the Federation Account, the Fiscal Responsibility Commission has said. The Chairman, FRC, Chief Victor Muruako, said this...

    • Posted July 18, 2014
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  • SON accuses Computer Village traders of colluding with dealers of fake phones

    The Standards Organisation of Nigeria (SON) yesterday raised alarm over the complicity of the Phone and Allied Products Dealers Association (PAPDA) in the sale and distribution of fake and substandard mobile phones in the country. Briefing journalist...

    • Posted July 18, 2014
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  • Ovia to emerge Zenith Bank chairman

    There are strong indications that if all calculations remain unchanged, the Board of Directors of Zenith Bank Plc may announce the former Managing Director/Chief Executive Officer of the bank, Mr. Jim Ovia, as the new chairman of...

    • Posted July 17, 2014
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  • All-share index rises 0.10% as market rally continues

    Trading at the stock market remained positive yesterday as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose further by 0.10 per cent to close at 42,971.56. Trading at the market had opened for the week on...

    • Posted July 17, 2014
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  • FAAC insists on fuel subsidy removal

    Barely a week after the Senate unanimously rejected the recommendation of its Committee on Finance that subsidies on petroleum products should be totally removed, the Federation Accounts Allocation Committee on Tuesday insisted that their retention was a...

    • Posted July 17, 2014
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