Latest News

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  SURE-P: FG to employ 17,000 youths for road maintenance

  The Federal Roads Maintenance Agency, FERMA, is to engage the services of 17,000 youth under the Subsidy Re-Investment Empowerment Programme, SURE-P. The youth, who will be indigenes of the various communities located close to the 17,000 kilometers...

  • Posted May 14, 2013
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  Reps, CBN disagree over N13.4billion house sale proceeds

  The Public Accounts Committee of the House of Representatives and the Central Bank of Nigeria on Monday disagreed on whether or not the bank remitted the N13.4bn it realised from the sale of houses in 2008 to...

  • Posted May 14, 2013
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  Payment of PHCN workers’ entitlements yet to commence

  Two months after it announced the approval of N384bn as severance package for workers of the Power Holding Company of Nigeria, the Federal Government has not commenced payment to the workers. The government had stated that it...

  • Posted May 14, 2013
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  DMO sets borrowing limit at 40% of GDP

  The Debt Management Office has set the nation’s borrowing limit at 40 per cent of the Gross Domestic Product. The Director-General, DMO, Dr. Abraham Nwankwo, said this at the ‘Debt Sustainability Workshop’, which opened in Abuja on...

  • Posted May 14, 2013
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  CBN begins second phase cashless policy July 1

  The Central Bank of Nigeria (CBN) has affirmed that the second phase of the cashless initiative will begin July 1, 2013. Deputy Governor, Operations, CBN, Mr. Tunde Lemo, confirmed this weekend, saying that the planned extension of...

  • Posted May 14, 2013
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  FCTA allocates affordable housing scheme land for Workers’ cooperative societies

  Succor came the way of thousands of federal workers as Federal Capital Territory Administration (FCTA) allocated lands to the National Agricultural Seeds Council and the Abuja Enterprises Agency Cooperative Society for the construction of low-cost houses for...

  • Posted May 13, 2013
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  Subsidy scam: EFCC commences trial of Arisekola-Alao’s son

  The Economic and Financial Crimes Commission on Monday began the trial of Abdullahi Alao, son of prominent businessman, Alhaji Abdullazeez Arisekola-Alao, before a Lagos High Court in Ikeja. Abdullahi Alao and two others alongside their companies were...

  • Posted May 13, 2013
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  How theft stalls accurate measurement of oil output

  A GRAPHIC picture of how sophisticated oil theft gangs in the Niger Delta frustrate an accurate measurement of the actual amount of oil that Nigeria produces was painted at the just-concluded Offshore Technology Conference (OTC), Houston, Texas,...

  • Posted May 13, 2013
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  UBA’s profit grows to N54.8billion in 2012

  UNITED Bank for Africa (UBA) Plc has announced its audited financial results for the full year 2012, even as its profit rose by over 905 per cent to close at N54.8billion from the N6.8billion loss it recorded...

  • Posted May 13, 2013
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  May & Baker posts N6billion sales in 2012

  MAY & Baker Nigeria Plc has announced its audited report and accounts for the year ended December 31, 2012, indicating that total sales rose by 17 per cent to about N6 billion. Key extracts of the audited...

  • Posted May 13, 2013
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  Lekki port to reduce Apapa congestion, boost bilateral trade

  Respite may be in sight for many users of the Apapa ports as the congestion problem in the ports may soon be addressed with the near conclusion of the Lekki Port project. Specifically, The Guardian gathered that...

  • Posted May 13, 2013
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  Growing debt, good for the country – DMO

  Despite warnings by economists against the country’s increasing debt profile, the Debt Management Office has said the continued rise in both domestic and external debts is a good thing for Nigeria. The DMO argued that the government’s...

  • Posted May 13, 2013
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  Cash-less policy: Poor network threatens to PoS usage

  Months after the introduction of Point of Sale terminal as one of the key electronic payment channels to drive the cash-less scheme of the Central Bank of Nigeria, poor network has remained a challenge to the initiative,...

  • Posted May 13, 2013
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  Private jets used to smuggle cash, fugitives – FG

  The Federal Government on Sunday said illegal consignments and cash in local and foreign currencies were being smuggled on daily basis in and out of the country aboard private jets. It also said some persons that securities...

  • Posted May 13, 2013
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