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  • N18.5bn debt: AMCON to take over TINAPA

    The Asset Management Corporation of Nigeria is to take over the management of Tinapa Business Resort following a settlement agreement with the Cross River State Government for the transfer of its controlling interest. By the agreement, AMCON...

    • Posted October 17, 2013
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  • WAICA Re builds capacity on marine, aviation risks

    WAICA Reinsurance said it has concluded plans to develop marine and aviation insurance in its training programme. The company said the move is part of efforts to address the challenges in underwriting marine and aviation in the...

    • Posted October 17, 2013
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  • NPA approves N57bn Egina vessel development project

    The stage appears set for the development of a $350m (about N57bn) Egina vessel platform integration in Lagos following the final approval of the project by the Nigerian Ports Authority. The project, which is being handled as...

    • Posted October 17, 2013
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  • Wema Bank declares third quarter profit of N479million

    Wema Bank Plc on Wednesday announced a profit after tax of N479 million for the third quarter ended Sept. 30, 2013. This was contained in a statement issued by the bank in Lagos. The profit after tax...

    • Posted October 16, 2013
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  • Stanbic IBTC appointed Custodian for BNP Paribas Securities Services

    Stanbic IBTC, a member of Standard Bank Group and one of the leading financial services provider in Nigeria, has been selected as the custodian for BNP Paribas Securities Services in Nigeria. This decision was made after a...

    • Posted October 16, 2013
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  • FG woos Brazilians to invest in power

    To ensure rapid development of electricity distribution, the Federal Government has appealed to the Brazilian Government to invest in Nigeria’s power sector with a view to revamping the ailing sector. The Minister of Power, Prof. Chinedu Nebo...

    • Posted October 16, 2013
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  • How we spent N453bn on Sure-P — Presidency

    The Presidency on Monday explained how it spent the some of N453.52bn budgeted for the Subsidy Re-Investment Programme in the last two years. The breakdown of the amount showed that in 2012, N180bn was budgeted for the...

    • Posted October 16, 2013
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  • Consumers berate PHCN over pre-paid meters

    Some industrialists in Lagos have criticised the Power Holding Company of Nigeria, PHCN, for failure to supply them pre-paid meters after they had applied for the meters some years ago. They alleged that some PHCN officials told...

    • Posted October 16, 2013
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  • Oil audit: EITI wants Nigerians to demand enforcement

    The Extractive Industries Transparency Initiative – a global body that ensures transparency around countries’ oil, gas and mineral resources – on Monday urged Nigerians to demand the implementation of the recommendations of the nation’s oil sector audit...

    • Posted October 16, 2013
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  • Capital market stakeholders seek tax incentives

    Two capital market stakeholders, on Monday called for the introduction of tax incentives by the Federal Government to deepen the growth of the Nigerian Stock Exchange. They told the News Agency of Nigeria in Lagos that there was the...

    • Posted October 16, 2013
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  • World Bank pledges $1.4m for Nigeria’s power, infrastructure

    The World Bank has pledged to support Nigeria’s power sector and infrastructure development with about $1.4m, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, announced in Washington DC, United States of America. The minister said this when she...

    • Posted October 16, 2013
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  • SEC investigates Deap Capital over alleged mismanagement of clients’ fund

    The Securities and Exchange Commission, SEC, has commenced investigations into the activities of Deap Capital Management and Trust Plc over alleged mismanagement of clients’ funds and its inability to return investment sum on maturity. The investigations, it...

    • Posted October 15, 2013
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  • Three oil firms award 221 scholarships to Akwa Ibom students

    Three oil companies operating in Eastern Obolo and Mbo Local Government Areas of Akwa Ibom, have awarded 221 scholarships to students from the two Local Government Areas. The Community Relations Manager of Afren Energy, Mr Blessing Okpowo,...

    • Posted October 15, 2013
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  • Nigerian banks can’t fund power’s $8bn/yr needs — FBN

    FBN Capital Limited has declared that Nigerian banks cannot fund the $8 billion yearly power needs alone and thus called for the support of institutional and foreign investors to fund the huge resources needed to drive various...

    • Posted October 15, 2013
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