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  • ETI appoints Ex-ILO president to investigate allegation of accounts misrepresentation

    ECOBANK Transnational Incorporated, ETI, has notified the Nigerian Stock Exchange, NSE, of the appointment of Justice Monsieur Seydou Ba, the former President of the International Labour Organisation, ILO, to independently investigate the allegations of misrepresentation of its...

    • Posted October 3, 2013
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  • Market Cap gains N55billion on Wednesday

    The bullish trend continued on resumption of trading Wednesday on the floor of the Nigerian Stock Exchange, NSE, after the independence holiday with the market capitalisation of the listed entity gaining N55 billion or 0.47 percent to...

    • Posted October 3, 2013
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  • CBN sold $2.8bn to stabilise naira in September

    Despite the pressure faced by the naira at other segments of the forex market in September, the traditional intervention of the Central Bank of Nigeria (CBN) at its regulated Wholesale Dutch Auction System (WDAS) during the month...

    • Posted October 3, 2013
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  • Nigeria spent $4.2 bn on importation of cars in 2010 – Maku

    The Federal Executive Council (FEC) on Wednesday in Abuja approved the Automotive Industry Development Plan for the development of the nation’s automotive industry. The Minister of Information, Mr Labaran Maku, told State House correspondents after the weekly...

    • Posted October 3, 2013
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  • Lagos almost self-sufficient in power generation – Fashola

    Lagos State Government has said its energy reform initiatives are yielding positive result with the state close to being self-sufficient in its power needs. To this end, it said a number of public institutions was being moved...

    • Posted October 3, 2013
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  • $4,000 tax: Charter airlines, FG set for battle

    Charter airline operators in the country have secretly gathered a team of ‘strong lawyers’ to battle the Federal Government at the Federal High Court in Lagos over the legality of the $4,000 tax the Nigerian Civil Aviation...

    • Posted October 3, 2013
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  • PFAs invest N49.6bn in foreign market

    Pension Fund Administrators have invested about N49.6bn out of the total funds in the Contributory Pension Scheme in foreign markets, an investigation has shown. According to figures on the activities of the PFAs, which were obtained by...

    • Posted October 3, 2013
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  • FG moves to improve trade relations with Russia

    The Federal Government on Tuesday unveiled plans to improve trade relations between Nigeria and Russia. The move followed the low level of trade between both countries. Addressing journalists in Abuja, the Nigerian Ambassador to Russia, Mr. Assam...

    • Posted October 3, 2013
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  • FG to complete payment of electricity workers’ entitlements by December

    Mr Beks Dagogo-Jack, the Chairman, Presidential Task Force on Power, on Wednesday said the Federal Government would complete the payment of all outstanding entitlements of PHCN workers by December. Dagogo-Jack, speaking at a Power Investors’ Summit organised by...

    • Posted October 3, 2013
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  • PENGASSAN laments dangers of oil theft in the Niger Delta

    Stakeholders in the oil sector have continued to raise alarm over the increasing rate of oil theft in the country. The Public Relations Officer of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Chika Onuegbu...

    • Posted October 2, 2013
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  • Investment protection sacrosanct to market growth – SEC

    Nigeria’s Securities and Exchange Commission, SEC, has emphasised the need for investment protection in the domestic market towards achieving a world class capital market. To this end, the commission has restated its commitment to the protection of...

    • Posted October 2, 2013
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  • CBN bans importation of foreign currency

    The Central Bank of Nigeria (CBN) has banned the importation of all foreign currencies except with approval. This was contained in a statement signed by CBN Director of Corporate Communications, Mr Ugo Okoroafor, on Tuesday in Abuja....

    • Posted October 2, 2013
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  • Privatisation no excuse for poor funding of power sector – Reps

    Chairman, House Committee on Power, Patrick Ikhariale at the weekend advocated for increased funding for the power sector despite the Federal Government’s privatisation of 15 successor companies of the power Holding Company of Nigeria (PHCN). Ikhariale who led...

    • Posted October 2, 2013
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  • NPDC insists on operatorship of Chevron’s oil blocks on sale

    The Nigerian National Petroleum Corporation (NNPC), owner of 60 percent stakes in the Oil Mining Leases (OML) 52, 53, 55, at the weekend insisted that it reserves the right to hand over the operatorship and handling of...

    • Posted October 2, 2013
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