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  • Kogi offers Dangote land for refinery

    The Kogi State Government has allocated 20,000 hectares of land to Dangote Group for sugar plantation and sugar refinery, to be cited in the state. Governor Idris Wada, who made the announcement after Dangote Foundation donated N220m...

    • Posted July 21, 2013
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  • NRC commences third weekly Lagos-Kano train service

    The Nigerian Railway Corporation has increased its weekly Lagos-Kano passenger train service to three with the introduction of another train as part of the first phase Capacity Enhancement Programme. A statement by the NRC on Friday noted...

    • Posted July 21, 2013
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  • Oil theft: Don’t blame N-Delta ex-militants – Presidency warns oil firms

    The Presidency defended ex-militants currently on the payroll of the Presidential Amnesty Programme (PAP) of involvement in the theft of oil in the Niger Delta. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, claimed over 400,000 barrels of...

    • Posted July 21, 2013
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  • FG Loses Control Of Tourism, Hotel Regulation To States

    A PANEL of the Supreme Court of Nigeria has unanimously declared that it is only a state house of assembly that can make laws on tourism or exercise control in the licensing or grading of hotels, restaurants...

    • Posted July 21, 2013
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  • FRC denies disapproving CBN’s 2012 Financial Report

    The Financial Reporting Council (FRC)  Thursday denied a report that it refused to approve the 2012 financial report of the Central Bank of Nigeria (CBN). The council also said the fund raised for the proposed International Financial...

    • Posted July 20, 2013
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  • Churches, mosques face penalty for poor financial reporting

    The Federal Government through the Financial Reporting Council of Nigeria has given religious and other not-for-profit organisations until January 1, 2014, to start reporting their profit-making subsidiaries as business entities in line with a new financial reporting...

    • Posted July 20, 2013
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  • Sterling Bank grows Q2 net profit by 97.03%

    The management of Sterling Bank Plc, on Thursday, presented its unaudited score card for the second quarter ended June 30, 2013, to the Nigerian Stock Exchange (NSE), indicating among others that profit after tax rose to N5.922...

    • Posted July 20, 2013
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  • Niger strips Russian firm of dam project over delays

    Niger has cited delays to revoke a huge contract with a Russian company tasked with building the impoverished nation’s flagship hydroelectricity project. “The government has quite simply decided to terminate the contract between the state of Niger...

    • Posted July 20, 2013
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  • Nigerian lawmakers want Shell, Eni oil block award revoked

    Nigeria should revoke oil rights for which Royal Dutch Shell Plc  and Eni SpA  paid $1.1 billion, a parliamentary committee said, alleging that the acquisition process was “highly flawed.” Shell and Eni jointly bought Oil Prospecting License...

    • Posted July 20, 2013
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  • GTB acquires 70% shares of Kenyan bank

    Guaranty Trust Bank (GT Bank) yesterday announced that it had reached an agreement to acquire a 70 per cent stake in Kenya’s Fina Bank Limited for $100 million (N16 billion). Fina Bank has total assets of $338...

    • Posted July 19, 2013
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  • Budget: Reps pass amendments for second reading

    President Goodluck Jonathan’s amendment proposals to the 2013 budget passed second reading at the House of Representatives on Thursday. Members of the lower legislative chamber made a dramatic U-turn during Thursday’s session and endorsed the amended budget...

    • Posted July 19, 2013
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  • FG to fast-track establishment of venture capital firms

    The Federal Government said it will fast-track the establishment of vibrant and efficient venture and equity capital organisations that will help provide cheap funds for Micro, Small and Medium Enterprises across the country. The Minister of Industry,...

    • Posted July 19, 2013
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  • FG appoints Citigroup, Vetiva to manage sale of Enterprise Bank

    The Federal Government has commenced the sale of the AMCON-owned banks, with the appointment of Citigroup and Vetiva Capital to manage the sale of one of the banks — Enterprise Bank Limited. In an interview, Mr. Mustapha...

    • Posted July 19, 2013
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  • No agreement with ETI over N1.6bn debt – AMCON

    Asset Management Corporation of Nigeria, Thursday, said it is in advanced discussions with Mr. Kolapo Lawson, Chairman, Ecobank Transnational Incorporated, ETI, over the repayment of a N1.6 billion loan, and also debunked claims that it has reached...

    • Posted July 19, 2013
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