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  • Customs Deny Passing 200 Car Bribe to Lawmakers

    The Nigerian Customs Service has strongly refuted the allegation of buying 200 cars for members of the National Assembly to pass the amended Customs and Excise Management Act (CEMA). They denied the allegation saying, it was false...

    • Posted November 20, 2012
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  • Q3 Growth Analysis reveals Nigeria’s Economy Expanding Fast

      The recent data analysis by the National Bureau of Statistics for the third quarter on the growth level of the second largest economy in Sub-Saharan Africa showed an amazing expansion compared to the second quarter analysis....

    • Posted November 20, 2012
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  • FG Moves to Reduce N600 billion Annual Wheat Import

      The Federal Institute of Industrial Research, Oshodi (FIIRO) said the federal government has moved to cut down the N600b spent on wheat importation. It said the Federal Government has stepped up the use of cassava bread...

    • Posted November 20, 2012
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  • 2013 Budget: FG’s $7.9 billion Borrowing Plan comes under Fire

    With the Global trend of debt crisis from Greece, Spain, Italy, Japan and possible fears of a fiscal cliff in the United States of America over its high debt profile  the intention of the Federal Government  to make a...

    • Posted November 20, 2012
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  • China’s Sinopec Acquires 20% of Total Nigeria Oil

      After much rumours, feelers and speculations it has now   been confirmed that Chinese Oil firm Sinopec has acquired 20% share and stock of the French giant Oil firm Total Nigeria for $2.5 billion(2.0 billion euros). The deal...

    • Posted November 20, 2012
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  • Lagos Ibadan Expressway: FG Terminates Contract with Bi-Courtney, Hires Julius Berger, RCC

    The contract for the construction of the 125-kilometre Lagos – Ibadan Expressway has been terminated and a new contractor hired. The Federal Government on Monday terminated its agreement with Bi-Courtney Consortium for the reconstruction of the road....

    • Posted November 20, 2012
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  • Nigerian Stock Exchange Watch: ASI (-0.51%) Dips as Niger Brew (-3.32%), Others Face Selling Pressure

    The Nigerian Stock Exchange began the week in the red as the All Share Index shed 0.51% to close at 26,267.57. Selling pressure persisted among some blue chip companies including Nigerian Breweries (-3.32%) and some top-tier banks. UBA...

    • Posted November 19, 2012
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  • Prime Hangout unveils new platform for job seekers

    The rate of youth unemployment in the country is alarming particularly in the face of the current global economic crisis. The implications of unemployment in Nigeria are both social, economic and political. It shows that youth unemployment...

    • Posted November 19, 2012
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  • Diamond Bank appoints HSBC, Stanchart for $300 mln Eurobond

    Diamond Bank has appointed HSBC, Standard Chartered Bank and Renaissance Capital for its debut $300 million Eurobond issue planned for the second quarter of next year, a bank executive told Reuters on Friday. Abdulrahman Yinusa, chief finance officer, said...

    • Posted November 19, 2012
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  • CBN Commences Implementation of ‘guide to bank charges’

      The Central Bank of Nigerian (CBN) has started a phased execution of ‘Guide to Bank Charges’. Generally, the guideline is meant to protect bank customers’ interest in their dealing with lenders. CBN’s move through the Bankers’...

    • Posted November 19, 2012
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  • ANAN urges FG to handle subsidy removal with caution

      The Federal Government has been advised by the Association of National Accountants of Nigeria (ANAN) to handle the removal of oil subsidy with serious caution and restraint. The advice was issued by the ANAN President, Hajia...

    • Posted November 19, 2012
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  • Cocoa Output Seen Falling 20% on Disease, Flood

    Cocoa output in Nigeria, the world’s fourth-biggest producer, is forecast to fall at least 20 percent due to disease and floods stemming from heavy rains this year, the country’s main industry group said. “The weather changes caused...

    • Posted November 19, 2012
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  • Shadow Banking Grows to $67 Trillion Industry, Regulators Say

    The shadow banking industry has grown to about $67 trillion, $6 trillion bigger than previously thought, leading global regulators to seek more oversight of financial transactions that fall outside traditional oversight. The size of the shadow banking...

    • Posted November 19, 2012
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  • BFIG on Course to Take Over ALSCON as RUSAL Edged Out

      Ever since the Inauguration of the Aluminium Smelter Company of Nigeria in Ikot Abasi, Akwa Ibom State Nigeria by the General Ibrahim Babangida Administration in 1991, to become another driver of the economy, the dream and...

    • Posted November 19, 2012
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