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  • Boyo blames CBN on management of excess liquidity

    An economist, Mr Henry Boyo, on Thursday urged the Central Bank of Nigeria (CBN) to find lasting solution to the management of excess cash in circulation. He warned the CBN to desist from the regular review of...

    • Posted January 23, 2014
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  • N963.7m subsidy fraud: Spring Bank says oil marketer followed due process

    The Spring Bank Plc on Thursday said that an oil marketer, Rowaye Jubril, followed due process in importation of fuel for which he was given N963.7 million subsidy. The News Agency of Nigeria (NAN) reports that Jubril...

    • Posted January 23, 2014
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  • Insurers lose over $70m to fake brown card

    Insurance managers   across the Economic Community of West African States lose about $70 million to the menace of fake brown cards operators, Secretary General, Nigerian National Bureau, ECOWAS Brown Card Insurance Scheme, Mrs. Henrietta Anyanna has...

    • Posted January 23, 2014
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  • India’s export to Nigeria triples to $11bn

    The Head of the Lagos office of Indian Embassy Rani Malick, has disclosed that India’s export to Nigeria during the past few years has tripled to the tune of 11 billion dollars due to a robust bilateral trade...

    • Posted January 23, 2014
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  • Sterling Bank’s rights issue records 103.3% subscription

    Sterling Bank Plc. has recorded 103.3 percent subscription in its just concluded rights issue of 5.89 billion ordinary shares of 50 kobo each. According to a statement from  the bank, the rights issue, which was sold at...

    • Posted January 23, 2014
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  • FG targets 10,000MW of electricity with 200 dams

    The Federal Government has said it is currently building over 200 new dams in order to achieve its target of 10,000 megawatts of electricity at the end of this year. Vice-President Namadi Sambo stated this on Tuesday...

    • Posted January 23, 2014
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  • Reserves, Excess Crude Account depletion threatens economy – CBN

    The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday expressed concern over the continued depletion of the Excess Crude Account, external reserves and portfolio inflows into the country. The committee said the country had...

    • Posted January 23, 2014
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  • Sokoto earmarks N5.63bn for expansion of Asare water project

    The Sokoto State Executive Council on Wednesday approved N5.63billion for expansion of the Asare Water Project in the state. The state Commissioner for Water Resources, Alhaji Shehu Dalhatu, made this known when he briefed newsmen on the...

    • Posted January 23, 2014
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  • Customs generate N8.48bn in 2013 at Seme border

    The Area Comptroller, Seme Border Command of the Nigeria Customs Service, Mr Willy Egbudin, on Wednesday said the command generated N8.48bn between January and December, 2013. Egbudin told a news conference at the Seme border town, near...

    • Posted January 23, 2014
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  • Investors trade 327.16 million shares on Wednesday

    Transactions at the Nigerian Stock Market ended on Wednesday with investors trading 327.16 million shares worth N3.37 billion in 5,904 deals. This was in contrast to the 276.44 million shares worth N3.06 billion that was exchanged on...

    • Posted January 22, 2014
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  • Lagos Assembly passes consumer protection bill

    The Lagos State House of Assembly (LAHA) on Tuesday passed a bill to protect consumers’ rights. The News Agency of Nigeria (NAN) reports that the Consumer Protection Bill was passed into law after its third reading at...

    • Posted January 22, 2014
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  • Monetary Policy Committee retains lending rate at 12% – CBN Governor

    The Central Bank Governor, Malam Sanusi Lamido Sanusi, on Tuesday said the Monetary Policy Committee had retained the lending rate at 12 per cent. Sanusi said this when he briefed newsmen on the outcome of the committee’s...

    • Posted January 22, 2014
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  • $10bn oil money: Provide evidence of spending or refund – Okonjo-Iweala tells NNPC

    Finance Minister, Dr Ngozi Okonjo-Iweala, has asked the Nigerian National Petroleum Corporation (NNPC) to provide evidences of expenditure of the disputed $10.8 billion unremitted oil revenue or remit to the Federation Account. Speaking on Tuesday in Abuja,...

    • Posted January 22, 2014
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  • Sterling Bank becomes 31st most capitalised stock at the NSE

    Sterling Bank Plc has become the 31st most capitalised stock at the Nigerian Stock Exchange, NSE, with a market capitalisation of N52.9 billion. A statement from the bank attributed the feat to the 103.3 percent subscription that...

    • Posted January 22, 2014
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