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  • LCCI faults CBN over rise in Cash Reserve Ratio

    The Lagos Chamber of Commerce and Industry, LCCI, yesterday, warned the nation over the recent raise in the Cash Reserve Ratio, CRR, of public sector funds from 50 per cent to 75 per cent. It said it...

    • Posted January 28, 2014
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  • FG appoints Mohammed Wasaram as new MD for NREA

    The Federal Government has appointed Mr. Mohammed Abubakar Wasaram, as the new Managing Director of the National Rural Electrification Agency, NREA. Wasaram succeeded Mr. Kenneth Achugbu, who was recently suspended by the Supervisory Board of the agency...

    • Posted January 28, 2014
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  • BPE to settle outstanding PHCN workers’ terminal benefits

    The Bureau of public Enterprises will on Wednesday begin a nationwide tour of the defunct Power Holding Company of Nigeria’s establishments to address residual issues in the settlement of the terminal benefits of the workers. A statement...

    • Posted January 28, 2014
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  • CRR increase will hurt domestic production – LCCI

    The Lagos Chamber of Commerce and Industry has said the decision of the Central Bank of Nigeria to increase the Cash Reserve Requirement on public sector funds in banks to 75 per cent will encourage the importation...

    • Posted January 28, 2014
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  • CBN moves to prevent naira’s further fall, removes $250k weekly sales limit on BDC

    The Central Bank of Nigeria has removed the $250,000 weekly foreign exchange sales limit placed on bureaux de change operators in the country, according to the latest information from the bank. The development came one week after...

    • Posted January 28, 2014
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  • FG expects $80bn investments in five years

    The Federal Government expects more than $80bn in investment in the next five years to spur ndustrial development in the country, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said. China Power International Development...

    • Posted January 28, 2014
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  • FIRS seals offices of tax defaulters in Yenagoa, rakes in N2m

    Mr Patrick Iroro, Tax Controller, Yenagoa Tax office of Federal Inland Revenue Service (FIRS), said tax defaulters in Yenagoa had paid N2 million arrears after their premises were raided. Iroro told the News Agency of Nigeria (NAN)...

    • Posted January 27, 2014
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  • Investors trade 1.758 billion shares in 5 days

    A turnover of 1.758 billion shares worth N21.024 billion in 28,949 deals were traded last week within 5 days by investors on the floor of the Nigerian Stock Exchange(NSE) in contrast to a total of 1.514 billion...

    • Posted January 27, 2014
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  • TCN says Shiroro power plant repairs to cause load shedding

    The Transmission Company of Nigeria (TCN) on Sunday in Abuja said the Shiroro Power Station would be shut down for three days to rectify some faults in the station. In a statement issued by TCN’s General Manager...

    • Posted January 27, 2014
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  • Honeywell beats estimates

    Honeywell International Incorporated, whose product line spans aviation controls to solvents, posted a fourth-quarter profit that beat analysts’ estimates as sales of energy-related products and turbochargers increased. Earnings excluding changes to the company’s pension-fund valuation climbed by...

    • Posted January 27, 2014
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  • NSE: Companies default on results submission

    As the Nigerian Stock Exchange hit impressive targets in its quest to becoming the gateway to African markets, it has been discovered that many listed companies are failing to submit their results as and when due. This...

    • Posted January 27, 2014
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  • Stakeholders advocate more investment in agriculture

    Agriculture has grown over the years and could be the future mainstay of the country’s economy, stakeholders have said. The Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, said agriculture was a viable business, which more...

    • Posted January 27, 2014
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  • Nationwide power supply dips by 300MW

    Nigeria’s    electricity supply capacity is to drop by about 300 megawatts (MW), the Transmission Company of Nigeria (TCN) has said. TCN stated in a statement Sunday in Abuja that the unavoidable drop in the quantity of power...

    • Posted January 27, 2014
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  • Mortgage Refinance Company targets N100bn capital

    Facts emerged yesterday that the Nigeria Mortgage Refinance Company (NMRC) plans to capitalise its operation to about N100 billion by the end of the second half of this year, when it is expected to have commenced its...

    • Posted January 27, 2014
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