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  • Bayelsa, six other states fail DMO’s solvency test

    Bayelsa and six other states in the country have failed the domestic debt sustainability analysis undertaken by the Debt Management Office (DMO). According to the report, which the DMO board, headed by Vice President Namadi Sambo met...

    • Posted March 18, 2013
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  • Oasis Insurance pays N494.5m claims

    Oasis Insurance Plc has disclosed that it settled N494.5m claims in various classes of insurance last year. The company incurred claims to the tune of N494, 576,954.95 in motor, fire, marine, engineering and general accident insurance. According...

    • Posted March 18, 2013
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  • BPE considers five firms for NITEL liquidation

    Bureau of Public Enterprises (BPE) has commenced the guided liquidation of NITEL and its mobile arm, Mtel, as it has started the evaluation of expression of interests (EOIs) from five prospective liquidators for the exercise. Guided liquidation...

    • Posted March 18, 2013
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  • NCC says telecommunication investment has hit $25billion

    Investment in the telecommunication industry is in the region of $25billion, the Nigerian Communications Commission said at the weekend. The NCC DG Dr. Eugene Juwah, added that there are over 113million telephone lines, compared with about 450,000...

    • Posted March 18, 2013
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  • Brokers to pay N2.5m for revoked licence

    NATIONAL Insurance Commission (NAICOM) has warned that any broker that loses its licence as a result of infraction would be asked to pay a penalty of N2.5 million. The Commissioner for Insurance, Fola Daniel, made this known...

    • Posted March 18, 2013
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  • WEMA seeks to regain national bank status

    Wema Bank Plc, has disclosed that it will raise a 35 billion naira ($220 mn) private share placement to some investors by the end of April and apply to regain national bank status. Wema was one of...

    • Posted March 18, 2013
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  • FG renames Ministry of Trade and Investment

    The Federal Ministry of Trade and Investment has been renamed Federal Ministry of Industry, Trade and Investment (MITI), with effect from March 9, 2013. The new identity was said to have been informed by the need to...

    • Posted March 18, 2013
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  • Jonathan seeks private sector’s support for centenary project

    PRESIDENT Goodluck Jonathan has enjoined chieftains of the organised private sector to support the Nigerian Centenary Project, especially the celebrations designed around the key concepts of unity, indivisibility, virility, progress and promise of the Nigerian Federation. Speaking...

    • Posted March 18, 2013
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  • Sterling Bank plans model branches, records improved deposit base

    STERLING Bank Plc has concluded plans to build about 40 ‘model’ branches and remodel existing ones in high profile locations, a strategy, which it said was aimed at ensuring that its customers get quality service at the...

    • Posted March 18, 2013
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  • DPR to revoke licences of undeveloped oil marginal fields

    THE  Department of Petroleum Resources (DPR) has given owners of under-developed marginal fields the next one-year to put the fields into production or lose their operating licences granted by the agency. Director of DPR, Osten Olorunsola, who...

    • Posted March 18, 2013
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  • NEMA records 80 distress alert signals from air and sea in 2012

    The National Emergency Management Agency (NEMA has disclosed that its Mission Control Centre (MCC) had received a total of 80 distress alert signals in 2012 from maritime, aviation and land users. The Director General, Muhammad Sani-Sidi disclosed...

    • Posted March 17, 2013
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  • BlackBerry plans security feature for Android, iPhone

    BlackBerry will offer technology to separate and make secure both work and personal data on mobile devices powered by Google Inc’s Android platform and by Apple Inc’s iOS operating system, the company said on Thursday. The new...

    • Posted March 17, 2013
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  • CBN to protect banks from Internet frauds, cybercrimes

    The Central Bank of Nigeria has announced its plans to protect banks from Internet frauds and other cybercrimes. Central Bank’s Director, Banking Supervision, Mrs. Olatokunbo Martins, said this while delivering a keynote speech at the first annual...

    • Posted March 17, 2013
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  • CBN releases framework for MRC operation

    The Management of the Central Bank of Nigeria (CBN) has approved the Regulatory and Supervisory Framework for the operations of a Mortgage Re-finance Company (MRC) as an exposure draft. The framework provides for the licensing and establishment of ...

    • Posted March 17, 2013
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