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  • Subsidy claims: Oil marketers confirm payments

    The Federal Government has finally began the payment of subsidy claims to oil marketers after a prolonged delay over technical hitches as claimed by the Finance Minister. Three weeks ago, the National Assembly passed the sum N161bn...

    • Posted January 11, 2013
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  • FG hires foreign firm to work out PHCN workers’ payoff

      The Federal Government has taken a bold move to facilitate the payment of entitlements of the Power Holding Company of Nigeria (PHCN) by hiring a foreign firm to help steer the process. The payment of entitlements...

    • Posted January 11, 2013
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  • Nigerian Stock Exchange Watch: Banking Sub-Sector Profit Takers Cause ASI (-0.9%) Dip

    The Nigerian Stock Exchange Watch dipped in today’s session as a result of the activities of profit takers on the banking sector. Some speculators were in the mood to turn some of their big gains into cool...

    • Posted January 10, 2013
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  • Borno State Government signs MOU worth over N230 million with Indian firms

    The Borno state Government has signed a Memorandum of Understanding with two Indian firms ILand FS company and Bala Industries Private Limited in the areas of Education and Agricultural transformation. Speaking at the signing ceremony which took...

    • Posted January 10, 2013
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  • Ecobank To Sell Shares, Bonds To Meet Capital Requirements

    Ecobank Transnational Incorporated has disclosed that it will sell shares, and bonds in order to meet rising capital requirements in the African countries where it operates. Ecobank has operations in 33 African countries, and many of these...

    • Posted January 10, 2013
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  • FG backs ban on telecoms promos, lotteries

    The Minister of Communications Technology, Mrs. Omobola Johnson, yesterday disclosed that the Federal Government was behind the ban of promos and lotteries on telecommunication companies imposed by the Nigerian Communications Commission (NCC). In a statement available to...

    • Posted January 10, 2013
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  • NNPC, FG criticizes over $1.5 billion loan

    The Nigerian National Petroleum Corporation’s (NNPC) plan to obtain a syndicated loan of $1.5b has been condemned by economic experts and analysts. Former World Bank Vice President, Dr. Oby Ezekwesili has also condemned the development, saying it...

    • Posted January 10, 2013
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  • Telcos assures subscribers on feasibility of number portability

      Nigerian Mobile Telecommunications subscribers who are eager in relation to the implementation of the much anticipated number portability project, have been assured that they would soon begin to enjoy the service, despite the postponement of the...

    • Posted January 10, 2013
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  • Domestic Investors Shore Up Confidence In Equity Market

    Domestic investors have increased their participation in the Nigerian Stock Exchange transactions to 40%, leaving only 60% for foreign investors. This development has signaled a boost of confidence among indigenous Nigerians and local institutions concerning the equities...

    • Posted January 10, 2013
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  • Benue people lament the closure of Dangote Gboko Plant, call for FG intervention

    The Benue State Government has called on the Federal Government to intervene in the temporary closure of the Gboko plant of Dangote Cement, saying the closure has caused serious financial loss and untold hardship in the few...

    • Posted January 10, 2013
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  • Electricity generation capacity to hit 10,000MW by December

      The Federal Government through the Minister of State for Power, Mrs. Zainab Kuchi has promised that it would achieve 10,000 Megawatts of electricity generation by December 2013. Kuchi while presenting a report before the Presidential Action...

    • Posted January 10, 2013
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  • CBN Worried About Capital Flight

    The Central Bank of Nigeria (CBN) has raised alarm concerning the heightened potential for capital reversal in the country. According to the External Sector Development Report issued by the CBN, foreign inflows of capital increased 77% from...

    • Posted January 10, 2013
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  • ICT Industry in Nigeria needs to grow – Uwaje

    The Information Technology Sector in Nigeria, has been described as weak and in dire need of growth to meet up the global competition . President of the Institute of Software Practitioners of Nigeria (ISPON) Mr Chris Uwaje...

    • Posted January 10, 2013
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  • Nigerian Stock Exchange Watch: ASI (-0.46%) Succumbs To Profit Takers, UBA (+9.92%) Resilient

    The All Share Index succumbed to profit takers in today’s market, losing 46 basis points. The banking sector was depressed, it recorded 10 losers versus 3 winners. UBA (+9.92%), and Diamond (+1.97%) were the only notable bank...

    • Posted January 9, 2013
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