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  • Current Account balance declines 26.3% in Q2

    There are indications that a combination of factors including higher import bills and lower export earnings have begun to take their tolls on the nation’s current account balance, which fell by 26.3 per cent in the second...

    • Posted November 18, 2013
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  • CBN moves to block information leakage

    Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, is getting increasingly uncomfortable with the constant leakage of decisions taken at the bank’s board meetings to the public domain, THISDAY can reveal today. An...

    • Posted November 18, 2013
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  • Honeywell invests N10bn in new mills

    Honeywell Flour Mills Plc said it has completed the expansion of its Apapa factory with two additional mills estimated at over N10bn, a statement said on Friday. The Executive Vice-Chairman of the company, Mr. Babatunde Odunayo, said...

    • Posted November 18, 2013
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  • PenCom takes over undercapitalised PFAs

    To save the assets of workers and retirees under the management of the two Pension Fund Administrators that failed to meet the recapitalisation requirement of the National Pension Commission last year, the regulator has taken over the...

    • Posted November 18, 2013
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  • FG raised N544bn bond to finance 2013 budget deficit – DMO

    The Debt Management Office (DMO) on Sunday said that Federal Government raised sovereign bond worth N544.06 billion to fund the 2013 budget deficit. The DMO Director-General, Dr Abraham Nwankwo, disclosed this at the opening of  a two-day...

    • Posted November 18, 2013
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  • Oando’s 9-month pre-tax profit falls to N9.78billion

    Oil marketing and exploration company, Oando Plc says its nine-month pre-tax profit fell 44 per cent to N9.78 billion ($61.44 million), compared with N17.40 billion in the same period a year ago. The company also said, in...

    • Posted November 17, 2013
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  • African mobile subscription to hit 930m in 2019 – Ericsson

    Indications have emerged that mobile subscription in the Sub-Sahara Africa will hit an all-time high of 930 million by 2019, says Ericsson. Out of this number,732 million will come from mobile broadband subscription, mostly in 3G, with...

    • Posted November 17, 2013
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  • Akwa Ibom Food Festival debuts

    Akwa Ibom is fast becoming the state of choice when it comes to high-powered events in the last months of the year. Asides its highly-anticipated Christmas Carol, now a yearly ritual, it is set to host the...

    • Posted November 17, 2013
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  • DANA Motors takes over Renault franchise, introduces new models

    The Nigerian auto market is becoming more dynamic and competitive in spite of the current challenges with hope of a bright future.  Dana Group of companies, sole marketers of KIA range of vehicles, is already tapping into...

    • Posted November 17, 2013
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  • LCCI canvasses 15% tax reduction for manufacturers

    For manufacturers in the country to remain in business under the proposed Common External Tariff of the ECOWAS, corporate taxes must be reduced from the current 30 per cent to 15 per cent, the Lagos Chamber of...

    • Posted November 17, 2013
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  • Dangote commends FG on sugar master plan

    The Group Managing Director, Dangote Sugar Refinery Plc, Mr. Graham Clark, has commended the Federal Government on the new sugar master plan saying it has the capacity to put Nigeria on the global sugar map. Clark stated...

    • Posted November 17, 2013
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  • Helicopter Business to Generate N96bn for Domestic Airlines

    The Managing Director of Bristow Helicopters, Akin Oni has disclosed that helicopter business in the oil and gas sector would generate between N80 billion and N96 billion in 2014. Speaking to journalists  at aviation safety seminar 2013 ...

    • Posted November 16, 2013
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  • SEC promises effective regulation of private equity firms

    As part of efforts to perform its investor protection mandate, the Securities and Exchange Commission (SEC) Thursday promised to effectively regulate the private equity/hedge funds space in line with global best practices. Speaking at a seminar on...

    • Posted November 16, 2013
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  • CBN to sell N100bn treasury bills

    The Central Bank of Nigeria (CBN) plans to issue N99.93 billion worth of treasury bills with maturities ranging between three months and one year at its regular debt auction next week Wednesday. The central bank would sell...

    • Posted November 16, 2013
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