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  • UBA commits $700m to power sector

    The United Bank for Africa Plc has extended $700m (N113bn) in funding to different investors toward the acquisition of power assets in Nigeria’s recently privatised power sector. A statement by the bank quoted its Group Managing Director,...

    • Posted January 30, 2014
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  • Nigeria imports 1,500 armoured vehicles yearly – Proforce boss

    Chief Executive Officer, Proforce Limited, Mr. Adetokunbo Ogundeyin, spoke to journalists in Lagos on armoured vehicle importation and manufacturing in Nigeria, among other issues. RASHEED BISIRIYU was there Why are armoured vehicles generally expensive? It is so because of ballistic...

    • Posted January 30, 2014
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  • Toyota Nigeria unveils new generation Yaris

    Toyota Nigeria is starting the 2014 business year with the launch of an all-new Yaris, as part of its determined efforts to remain the biggest automobile company and the highest selling brand in the country. The firm...

    • Posted January 30, 2014
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  • Investors exchange 258.69 million shares on Wednesday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on Wednesday with investors exchanging 258.69 million shares valued at N2.92 billion in 5,109 deals. This was in contrast with the 408.14 million shares valued at...

    • Posted January 29, 2014
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  • We are ready for recertification – Dana Air

    Dana Air has said that it is prepared to go through another round of recertification to be conducted by the regulatory bodies if the situation calls for it. The management of the airline said it was the...

    • Posted January 29, 2014
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  • Lawmaker commends FG for banning importation of frozen products

    A lawmaker in the Osun State House of Assembly, Mr Ipoola Binuyo, has commended the Federal Government for banning the importation of frozen products including fish, chicken, turkey and gizzard. Binuyo, the Chief Whip of the House, made the...

    • Posted January 29, 2014
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  • NSE moves 408.135m shares worth N4.97bn

    Investors at the Nigerian Stock Exchange (NSE) on Tuesday exchanged a total of 408.135 million shares worth N4.97 billion in 6,349 deals. This is against the 355.167 million shares valued at N3.82 billion traded in 5,580 deals...

    • Posted January 29, 2014
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  • EU gives FG N4.2bn for investment climate reforms

    The European Union in a bid to boost trade and improve productive capacity in the country has launched the Nigeria Competitiveness Support Programme. The programme is supported by the German Society for International Corporation, United Nations Industrial...

    • Posted January 29, 2014
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  • Power: Nigeria loses 2,994MW to gas shortage, faults

    Shortage of gas, faults and maintenance works on plants have combined to reduce power generation in the country to 3,674.9 megawatts from the 6,668.6MW available capacity of the power stations as of Monday. Available generation records from...

    • Posted January 29, 2014
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  • N220bn debt, import allocation delay threaten fuel supply

    Nigeria may be heading for another round of fuel scarcity as a result of the failure of the Petroleum Products Pricing Regulatory Agency to release the import allocation for the first quarter of the year to oil...

    • Posted January 29, 2014
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  • Naira falls to four-month low

    The naira fell for a fourth day after the Central Bank of Nigeria removed limits on how many dollars can be sold to foreign-exchange bureaus, driving demand for the United States currency. According to a Bloomberg report, the currency...

    • Posted January 29, 2014
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  • Ecobank backs CBN’s cash-lite initiative

    Ecobank Nigeria has said it is committed to the cash-lite policy of the Central Bank of Nigeria. This, it said, prompted its unveiling of a ‘card 4 prizes promo’ to promote the use of alternative payment channels...

    • Posted January 28, 2014
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  • FBN Holdings unveils new logo, counts down to 120th anniversary

    FBN Holdings PLC, Nigeria’s largest financial services group, today unveiled a refreshed corporate identity for the entire group, including all its subsidiaries. Designed to reflect the company’s strategic direction and position it to meet the future needs...

    • Posted January 28, 2014
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  • South Africa may lose biggest economy status to Nigeria

    South Africa could soon lose its status as Africa’s biggest economy to Nigeria, but the race to be the continental powerhouse being the biggest may not be everything. Nigeria, Africa’s largest oil producer, will complete a rebasing...

    • Posted January 28, 2014
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