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  • World Bank’ll restrict support to vital sectors — Marie-Nelly

    The World Bank Country Representative in Nigeria, Marie-Francoise Marie-Nelly, in this interview with EVEREST AMAEFULE, says the bank will limit its intervention in Nigeria to the power and few other sectors in order to make more visible impact...

    • Posted January 13, 2014
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  • Extortion: Ikeja DISCO to prosecute ex-PHCN employees

    The Ikeja Distribution Company has vowed to prosecute ex-employees of the Power Holding Company of Nigeria accused of extorting electricity customers under its network. The company said this followed complaints by its customers in the 11 business...

    • Posted January 13, 2014
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  • Electricity workers to begin strike Tuesday

    The National Union of Electricity Employees (NUEE), on Thursday, insisted on proceeding with its planned nationwide strike from next Tuesday, over the flagrant abuse of human and trade union rights in the power sector. The group also...

    • Posted January 12, 2014
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  • Slashed Budget: Senior Judges report Okonjo-Iweala to NASS

    Indications emerged yesterday that the Judiciary was upset with the paltry vote of N67 billion earmarked in this year’s budget for the operation of the third arm of government. The anger of the judiciary, it was learnt,...

    • Posted January 12, 2014
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  • Operators fault NPA, back Shippers Council as port regulator

    Operators in the maritime industry have accused the management of the Nigerian Ports Authority, NPA, of neglecting their interest, even as they expressed confidence in the proposed move by the Federal Government to make the Nigerian Shippers...

    • Posted January 12, 2014
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  • How we spent $10.8bn oil revenue – NNPC

    The management of the Nigerian National Petroleum Corporation, NNPC, yesterday, gave a clearer account of how it spent the $10.8 billion, the remaining part of the controversial un-remitted $48.9 billion oil revenue. The Corporation which said it...

    • Posted January 12, 2014
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  • OPEC cuts exports to lowest in four months

    The Organisation of Petroleum Exporting Countries will cut crude shipments to the lowest level since September as refineries trim imports before conducting maintenance in the spring, according to Oil Movements. Bloomberg News reported that the researcher said in a...

    • Posted January 12, 2014
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  • Indian auto giants to set up plants in Nigeria

    Two vehicle manufacturing companies from India, TATA and TVS Motor Company, on Friday indicated their interest to establish automotive plants in the country. This is contained in a statement issued in Abuja by the Principal Executive Officer...

    • Posted January 11, 2014
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  • DMO to issue N90bn worth of bonds on January 15

    The Debt Management Office (DMO) says it will on Jan. 15 auction N90 billion worth of Federal Government bonds which will mature in 2016 and 2030. The DMO in its “January 2014 FGN Bond Circular” on its...

    • Posted January 11, 2014
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  • FCMB secures $150m loan facility

    First City Monument Bank Limited has announced the signing of a $150m senior unsecured term loan facility with Commerzbank Aktiengesellschaft and Standard Chartered Bank acting as initial mandated lead arrangers and book-runners. A statement by the bank...

    • Posted January 11, 2014
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  • Oteh hinges capital market recovery on reforms

    The Director-General of the Securities and Exchange Commission, SEC, Ms. Arunma Oteh, has said that the recovery being witnessed in the capital market is an outcome of the commission’s reforms and zero-tolerance for corrupt practices. Arunma Oteh,...

    • Posted January 11, 2014
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  • System breakdown slows Customs’ operations, revenue collection

    Efforts of the Nigeria Customs Service to meet its annual revenue target and ensure efficient port operations are being threatened by frequent breakdown of its information technology system. Vanguard investigation revealed that the frequent system breakdown has...

    • Posted January 11, 2014
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  • Dangote’s $400m Zambian cement factory ready in February

    Dangote Group is set to complete the process of establishing a cement factory estimated at $400m in Zambia. The Nigerian High Commissioner in Zambia, Mrs. Sifawu Momoh, who gave the indication, said the cement factory would be...

    • Posted January 11, 2014
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  • Retirement won’t affect my chances at CBN – Lemo

    The Deputy Governor, Operations, Central Bank of Nigeria, Mr. Tunde Lemo, on Thursday said his exit from office would not affect his chances of possibly succeeding Governor Lamido Sanusi. Lemo, 54, who will leave the CBN on...

    • Posted January 11, 2014
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