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  • FG orders tanker drivers to vacate MMIA within 48hours

    The Federal Government Friday gave a forty-eight hours ultimatum to  Petroleum Tanker Drivers (PTD) along the Murtala Muhammed International Airport (MMIA), access road to relocate their vehicles from the airport environment or face being sanctioned. Disclosing this...

    • Posted August 17, 2013
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  • $1.5bn underpayments: FG set to prosecute shady oil marketers

    Federal Government has expressed its readiness to recover N232 billion ($1.5 billion) over-payments made to fraudulent oil marketers. Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, disclosed this at the just-concluded National Council of...

    • Posted August 16, 2013
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  • NCMDLCA raises alarm over threat to peace at ports

    THE National Council of Managing Director of Licensed Customs Agents (NCMDLCA) has raised alarm over moves by the dissolved board of the Council for the Regulation of Freight Forwarders in Nigeria (CRFFN) to collect dues despite the...

    • Posted August 16, 2013
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  • Mortgage recapitalisation must enable single digit interest – Expert

    Two property management consultants, Andem Bassey and Segun Olutade, have made recommendations on how to ensure the success of the proposed mortgage sector reform in Nigeria. While Bassey enjoined the Central Bank of Nigeria (CBN) to ensure...

    • Posted August 16, 2013
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  • FG knows those behind oil theft — LCCI

    The Lagos Chamber of Commerce and Industry has said the Federal Government and security agencies in the country know the people behind oil theft, which is undoubtedly one of Nigeria’s greatest economic challenges today. LCCI Vice President,...

    • Posted August 16, 2013
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  • Heritage Bank to develop funding model for entertainment industry

    Heritage Bank has pledged to work with stakeholders in the entertainment industry to develop a funding model for the industry. Managing Director/Chief Executive, Mr. Ifie Sekibo gave this assurance while responding to enquiries about the bank’s plan...

    • Posted August 16, 2013
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  • Analysts predict 8.7% inflation

    Analysts at the Financial Derivatives Company (FDC) Limited predicted inflation rate of 8.7 per cent for July. “Our forecast for Nigeria’s headline inflation in July indicated a 0.37 per cent increase to 8.77 per cent (±0.22%) from June’s...

    • Posted August 16, 2013
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  • Zenith Bank posts N54bn half year profit

    Zenith Bank Plc Thursday declared a Profit Before Tax (PBT) of N54.1 billion for the half year ended June 30, 2013, up from the N50.2billion posted in the corresponding period of 2012. In the results made available...

    • Posted August 16, 2013
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  • We’ll reduce recurrent expenditure to 68.7% — Sambo

    Vice-President Namadi Sambo on Tuesday said recurrent expenditure in the 2013 budget would be reduced to 68.7 per cent from the 71.5 per cent recorded last year. He said in Minna, the Niger State capital while declaring...

    • Posted August 15, 2013
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  • Active telephone lines drop to 120.3 million

    The number of active telephone lines in the country fell to 120,362,218 in June, a decline of 386,536 from the 120,748,754 recorded in May, according to the latest statistics released by the Nigerian Communications Commission on Monday....

    • Posted August 15, 2013
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  • Power privatisation threatened as bidders give FG conditions

    The ongoing privatisation of power sector is facing a threat as winners of the 11 distribution companies of the Power Holding Company of Nigeria PHCN, yesterday issued the Federal Government fresh conditions before completing the balance of...

    • Posted August 15, 2013
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  • NEITI clears PPPRA of N4.42trn debt

    The Nigerian Extractive Industries Transparency Initiative, NEITI, yesterday, cleared the Petroleum Products Pricing Regulatory Agency, PPPRA, over the remittance of the sum of N4.423 billion to the Federation Account. This was made known after a reconciliatory meeting...

    • Posted August 15, 2013
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  • FG to adopt Full Cash Accounting policy January 2014

    Federal Government Monday said that it will adopt Full Cash basis of Accounting from January 2014. The Minister of State for Education, Chief Ezenwo Wike, who disclosed this at the three-day training workshop on the International Public...

    • Posted August 15, 2013
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  • CBN to take delivery of new naira notes by September

    The Central Bank of Nigeria will take delivery of new naira notes before the end of September for circulation, the Deputy Director, Operations, Dr Tunde Lemo, has said. Lemo stated this on Wednesday in Abuja. The apex...

    • Posted August 15, 2013
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