Latest News

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  Apple enables iPhone users to trade old phones for new

  Apple Inc will start a program this month to allow users to trade their older iPhones for the newest model, Bloomberg cited people familiar with the plan as saying, a first for the company as it prepares...

  • Posted June 7, 2013
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  FG pledges to pay off PHCN casual staff

  THE Federal Government Thursday promised to pay terminal benefits and gratuity to all staff of Power Holding Company of Nigeria, PHCN, including those on casuals. It also pledged to wage war against casual/contract staff in the banking...

  • Posted June 7, 2013
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  East-West road to be completed Dec 2014 – FG

  The Federal Government, Thursday, reassured Nigerians, particularly people of the Niger Delta, that the N347 billion East West highway dualisation projects would be completed and deliver by December 2014. Minister of Niger Delta Affairs, Elder Godsday Peter...

  • Posted June 7, 2013
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  Infrastructure Bank to manage FG’s N25bn mass transit fund

  The Infrastructure Bank Plc, TIB, has been chosen as the fund manager to the federal government’s N25 billion Public Mass Transit Revolving Fund (PMTF) scheme. Managing Director, Adekunle Oyinloye, disclosed this in a paper presented at the...

  • Posted June 7, 2013
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  Govt to finalise sale of PHCN firms this month

  THE Federal Government may have concluded plans to finalise the ongoing privatization of the power sector this month, when the Power Holding Company of Nigeria (PHCN) distribution firms are expected to be handed over to their respective...

  • Posted June 6, 2013
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  CDL Declares N2.1 Billion Dividends

  The Consolidated Discount House Limited (CDL) Wednesday declared a total dividend payout of N2.1 billion to its shareholders in its financial year ended December 31, 2012. The discount house said the reward was in line with its...

  • Posted June 6, 2013
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  NSE Market Capitalisation Hits 2008 Peak

  A three-day rally by the bulls saw the market capitalisation of the Nigerian Stock Exchange (NSE) hit its 2008 peak of N12.6 trillion yesterday just as year-to-date growth of the NSE All-Share Index stood at 40.5 per...

  • Posted June 6, 2013
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  Energia, 4 others to build 15,000bpd refinery

  Indigenous oil firm, Energia Limited, yesterday, said it is partnering with four other local oil companies to build a crude oil refinery plant in the country with an initial capacity of between 10,000 and 15,000 barrels of...

  • Posted June 6, 2013
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  Nigeria’s electricity situation, a nightmare — FG

  Federal Government, yesterday, in Abuja, said despite the investment in the power sector, only 25 percent of Nigerians currently had access to electricity. After a meeting of the Federal Executive Council, FEC, Minister of Power, Professor Chinedu...

  • Posted June 6, 2013
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• First Bank starts longer hours, weekend services to customers

  First Bank says that it has opened some of its branches for longer hours and on weekends to customers due to the ongoing upgrade of its IT infrastructure. The bank’s spokesperson, Folake Ani-Mumuney, said this in a...

  • Posted June 6, 2013
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  NIMASA’s Cabotage fund attracts single digit interest rate

  THE Nigerian Maritime Administration and Safety Agency (NIMASA) Cabotage Vessel Financing Fund (CVFF) is to attract a single digit interest rate. Disclosing this in Abuja earlier in the week, Transport Minister, Senator Idris Umar said that all...

  • Posted June 6, 2013
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  AIB releases report update on DANA crash

  Exactly one year after Dana Air crashed in Iju-Ishaga area of Lagos state, the Accident Investigative Bureau (AIB) on Tuesday said the airline and the Nigeria Civil Aviation Authority have begun the implementation of new safety recommendations....

  • Posted June 5, 2013
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  MAN seeks introduction of single-digit interest rate on agricultural loans

  The President of the Manufacturers Association of Nigeria, Alhaji Bashir Borodo, has advocated for the introduction of a single-digit interest rate on agricultural loans to enhance growth in the sector. Borodo made the suggestion in an interview...

  • Posted June 5, 2013
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  Airtel introduces Mobile Newspaper Service

  Leading telecommunications service provider, Airtel Nigeria, has introduced a new product which enables customers to receive pictures alongside instant news content while on the move. The product, known as ‘Mobile Newspaper Service’ is an improvement on the...

  • Posted June 5, 2013
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