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  FG to spend N5 billion on debts accrued from Court judgements in 2013

  In the past years, the Federal Government incurred debts to the tune of N5bn from court judgements against its Ministries, Departments, and Agencies. The Government will as a result spend a whooping sum of N5bn to upset...

  • Posted January 8, 2013
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  Debt management: NNPC struggles, borrows to pay $1.5b foreign debt

  The Nigerian National Petroleum Corporation (NNPC) has borrowed money to cover up its debts at the international Market. This information was disclosed to Reuters by a Senior Banking source within the banking industry. The loan became very...

  • Posted January 8, 2013
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  Nigeria and Africa will experience phenomenal growth in mobile technology in 2013 – Arosanyin

  The year 2013 will be a great year for Mobile technology and the Broadband advancement for Nigeria and Africa, so says Mr Femi Arosanyin the Country Manager of Ericsson Cameroun. Speaking during an Interview with BusinessNews, Mr...

  • Posted January 8, 2013
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  FG’s fuel subsidy account empty

  Barely Three weeks after the National Assembly gave its nod to the N161.6 billion supplementary budget to cater for last year’s fuel subsidy payment to marketers, reports are revealing that the account with the Central Bank of...

  • Posted January 8, 2013
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  Reps move to strip CBN of its supervisory powers

  The House of Representatives wants a new body to take over the supervisory roles handled by the Central Bank of Nigeria (CBN). There are pointers to the fact that the CBN might be stripped of these powers...

  • Posted January 8, 2013
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  Nigeria Stock Exchange Watch: ASI (+1.57%), FCMB (+10%), Skye (+(9.99%)

  The All Share Index appreciated by 1.57% to close at 28,986.19 even as the market gradually approaches the 30,000 level. The banking sector was all the way bullish with all counters recording positive gain. Access (+5.81%), Zenith (+5.36%),...

  • Posted January 7, 2013
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  “It’s deceitful and meaningless” – PDP condemns Ondo 2013 budget

  The Ondo State Chapter of the People’s Democratic Party (PDP) has strongly condemned the 2013 budget of the Ondo State Government. Governor Olusegun Mimiko had last week presented a budget proposal of N151 billion to the Ondo...

  • Posted January 7, 2013
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  NNPC plans cost reduction in JV operations

  In a bid to ensuring that it continues to maintain value in the exploration and drilling operations in the Country, the Nigerian National Petroleum Corporation (NNPC) is set to review its level of engagement in the joint...

  • Posted January 7, 2013
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  Ecobank opens 33rd affiliate in Equatorial Guinea

  Ecobank Transnational Incorporated, the pan-African banking group, has announced the opening of its Equatorial Guinea affiliate. Ecobank Equatorial Guinea was issued a licence to operate as a credit institution in the country and became the 33rd affiliate...

  • Posted January 7, 2013
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  CBN shifts deadline for legacy banks’ cheques to March

  The Central Bank of Nigeria (CBN) has shifted its set January 2 deadline for the acceptance of legacy banks’ cheques to March 31. CBN last November instructed all banks and financial institutions to stop accepting cheques from...

  • Posted January 7, 2013
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  Keystone Bank Adopts Directorate Structure to Revitalize Business

  Keystone Bank Limited has embarked on a realignment of its corporate goals to enable it realise its objective. The bank,  in a statement on Friday, said the Board also approved a new corporate structure, which was a...

  • Posted January 7, 2013
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  Equities Market To Reach N20 trillion Market Capitalization in 2013 – Stakeholders

  The positive momentum of the Nigerian Stock Exchange (NSE) has continued to receive positive remarks from stakeholders in the national economy. The President of Chartered Institute of Stockbrokers (CIS), Mr. Ariyo Olusekun, has stated that the value of...

  • Posted January 7, 2013
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  FG to commence effective water resources management, makes new strategies

  In its effort to facilitate an effective management of water resources in the country, the Federal Government has commenced an urgent review of its strategies. The development was made public on Friday in Abuja by the Minister...

  • Posted January 7, 2013
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  Singapore, Malaysia to join forces and promote Nigeria’s construction industry

    Considering the challenges Building and Construction Industries have been facing in Nigeria, the Nigerian Institute of Building (NIOB) is set to engage the technical assistance of Eastern Asian Tigers, Singapore and Malaysia to improve the quality...

  • Posted January 7, 2013
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