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  • Only Boards of Internal Revenue Service should collect tax – FG warns states, MDAs

    The Federal Government on Monday announced that it would not longer allow any state in the country to engage anybody or an organisation other than the Board of Internal Revenue Service (BIRS) to collect approved taxes. It...

    • Posted October 22, 2013
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  • New trading engine to prolong stock market decline – Report

    The introduction of the new trading engine, X-Gen, by the Nigerian Stock Exchange, NSE, will likely prolong the current downturn in the stock market in the last quarter of the year, said analysts at BGL Securities Limited....

    • Posted October 22, 2013
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  • Banks’ reserves with CBN hit N3.176trillion

    The total amount of deposit money banks’ (DMBs’) reserves with the Central Bank of Nigeria (CBN) further increased significantly to N3.176 trillion in September 2013. The latest CBN money and credit statistics for September showed that the...

    • Posted October 22, 2013
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  • FG signs Bilateral Air Services Agreement with Israel

    The Federal Government has announced its preparedness to sign the first-ever Bilateral Air Services Agreement with Israel. It stated that previous attempts to sign the BASA in 2005 and 2012 were unsuccessful. The Federal Ministry of Aviation,...

    • Posted October 22, 2013
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  • BPE clears 40,093 PHCN workers for terminal benefits

    A total of 40,093 workers of the Power Holding Company of Nigeria have been cleared to receive their terminal benefits preparatory to the handover of 14 PHCN successor companies to private sector investors. The Director-General, Bureau of...

    • Posted October 22, 2013
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  • Labour issues won’t disrupt power assets handover — Jonathan

    President Goodluck Jonathan has said that labour issues, especially the payment of workers’ entitlements, will not stop the Federal Government from physically handing over the privatised power generation and distribution companies to private investors in two weeks’...

    • Posted October 22, 2013
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  • Importation of petrol hasn’t stopped – NNPC

    The Nigerian National Petroleum Corporation on Sunday said it had not stopped the importation of Premium Motor Spirit, otherwise known as petrol. It described media reports, which stated that it had stopped importing the product, as mere...

    • Posted October 22, 2013
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  • Bank directors to recommend strategies for PPP

    The Bank Directors Association of Nigeria (BDAN) has said its forthcoming annual stakeholders’ conference will focus on strategies to boost public-private partnership (PPP) in view of the growing demand for infrastructure in the country. The General Secretary,...

    • Posted October 22, 2013
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  • Forte Oil declares N2.7bn profit after tax

    Forte Oil Plc on Monday announced a N2.7 billion profit after tax for the nine months ended Sept. 30. This was contained in a statement issued by the company in Lagos and obtained by the News Agency...

    • Posted October 21, 2013
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  • Investors trade 295.69 million shares on Monday

    The first trade of the week at the floor of the Nigerian Stock Exchange, NSE, ended on a bearish note as 295.69 million shares valued at N3.91 billion were traded by investors in 5,921 deals. This was...

    • Posted October 21, 2013
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  • Youths protest at ExxonMobil, demand compensation for oil spill

    Some members of Ibeno Youths Coalition on Monday protested peacefully against Mobil Producing Nigeria Unlimited to demand for compensation for the Nov. 29, 2012 oil spill in the area. The youths, who were no fewer than 2,000,...

    • Posted October 21, 2013
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  • Court dismisses Alao’s bid to quash N1.1bn fuel subsidy fraud charge

    An Ikeja High Court on Monday dismissed an application by an oil marketer, Abdullahi Alao, seeking to quash the fuel subsidy fraud charge against him and four others. The News Agency of Nigeria (NAN) reports that the...

    • Posted October 21, 2013
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  • FG will meet 40billion barrels of oil reserves by 2020 – NAPE

    The Nigerian Association of Petroleum Explorationists (NAPE) says the country has the capacity to meet the 40 billion barrels oil reserves as projected by the Federal Government. The President of the association, Mr George Osahon, said while...

    • Posted October 21, 2013
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  • Market capitalisation gains N115billion in three days

    The three days of trading on the floor of the Nigerian Stock Exchange, NSE, last week ended on an impressive note as the market capitalisation of the listed entities gained N115 billion or 0.98 percent to close...

    • Posted October 21, 2013
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