Nigeria Business News » Headline News http://businessnews.com.ng Nigeria Business News Sun, 19 May 2013 20:00:58 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 SEC orders market operators to maintain January to December fidelity bonds http://businessnews.com.ng/2013/04/11/sec-orders-market-operators-to-maintain-january-to-december-fidelity-bonds/?utm_source=rss&utm_medium=rss&utm_campaign=sec-orders-market-operators-to-maintain-january-to-december-fidelity-bonds http://businessnews.com.ng/2013/04/11/sec-orders-market-operators-to-maintain-january-to-december-fidelity-bonds/#comments Thu, 11 Apr 2013 06:55:35 +0000 BusinessNews Staff http://businessnews.com.ng/?p=31338 The Securities & Exchange Commission (SEC), on Wednesday directed all operators in the capital market to henceforth maintain a fidelity bond with a January to December validity every year. According to Wikipedia, “a fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts [...]

SEC orders market operators to maintain January to December fidelity bonds

]]> http://businessnews.com.ng/2013/04/11/sec-orders-market-operators-to-maintain-january-to-december-fidelity-bonds/feed/ 0 World Bank to spend N785billion on projects in Nigeria http://businessnews.com.ng/2013/04/01/world-bank-to-spend-n785billion-on-projects-in-nigeria/?utm_source=rss&utm_medium=rss&utm_campaign=world-bank-to-spend-n785billion-on-projects-in-nigeria http://businessnews.com.ng/2013/04/01/world-bank-to-spend-n785billion-on-projects-in-nigeria/#comments Mon, 01 Apr 2013 08:30:03 +0000 Comrade Ameh http://businessnews.com.ng/?p=30868 The World Bank has announced its plans to spend $5 billion (about N785 billion) on 27 projects across Nigeria in the next five years. Also, the African Development Bank (AfDB) has also agreed to provide two sovereign guaranteed multi –tranche lines of credit of $500 million to Bank of Industry (BOI) and of $200 million [...]

World Bank to spend N785billion on projects in Nigeria

]]> http://businessnews.com.ng/2013/04/01/world-bank-to-spend-n785billion-on-projects-in-nigeria/feed/ 0 N15billion pension fund: Presidency yet to order retrieval of money http://businessnews.com.ng/2013/03/26/n15billion-pension-fund-presidency-yet-to-order-retrieval-of-money/?utm_source=rss&utm_medium=rss&utm_campaign=n15billion-pension-fund-presidency-yet-to-order-retrieval-of-money http://businessnews.com.ng/2013/03/26/n15billion-pension-fund-presidency-yet-to-order-retrieval-of-money/#comments Tue, 26 Mar 2013 08:08:25 +0000 BusinessNews Staff http://businessnews.com.ng/?p=30625 Indications emerged yesterday that barely a week to the end of the first quarter of the year, the Presidency is yet to order the retrieval of unspent pension fund amounting to N15.3 billion from eight banks in the country in line with its extant financial rule. The Federal Government’s hold-up is in spite of a [...]

N15billion pension fund: Presidency yet to order retrieval of money

]]> http://businessnews.com.ng/2013/03/26/n15billion-pension-fund-presidency-yet-to-order-retrieval-of-money/feed/ 0 Maritime workers threaten show down with FG http://businessnews.com.ng/2013/03/12/maritime-workers-threaten-show-down-with-fg/?utm_source=rss&utm_medium=rss&utm_campaign=maritime-workers-threaten-show-down-with-fg http://businessnews.com.ng/2013/03/12/maritime-workers-threaten-show-down-with-fg/#comments Tue, 12 Mar 2013 07:54:42 +0000 BusinessNews Staff http://businessnews.com.ng/?p=29879 CRISIS is brewing in the nation’s maritime sector, as the leadership of Maritime Workers Union of Nigeria, MWUN, yesterday, threatened to ground activities in the seaports, if the Federal Government implements its plans to further privatise what it described as the pilotage services of Nigerian Ports Authority, NPA. The union also threatened to resist attempts [...]

Maritime workers threaten show down with FG

]]> http://businessnews.com.ng/2013/03/12/maritime-workers-threaten-show-down-with-fg/feed/ 0 Non-oil sector projected to contribute N1.7trillion in 2013 http://businessnews.com.ng/2013/03/11/non-oil-sector-projected-to-contribute-n1-7trillion-in-2013/?utm_source=rss&utm_medium=rss&utm_campaign=non-oil-sector-projected-to-contribute-n1-7trillion-in-2013 http://businessnews.com.ng/2013/03/11/non-oil-sector-projected-to-contribute-n1-7trillion-in-2013/#comments Mon, 11 Mar 2013 08:14:07 +0000 BusinessNews Staff http://businessnews.com.ng/?p=29850 Nigeria’s non oil sector is projected to rake N1.742 trillion into the national treasury, going by estimates in the recently signed 2013 budget. Presenting a budget breakdown in Abuja, Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala said this represents an 8.13 per cent increase over the N1. 611 trillion earned from [...]

Non-oil sector projected to contribute N1.7trillion in 2013

]]> http://businessnews.com.ng/2013/03/11/non-oil-sector-projected-to-contribute-n1-7trillion-in-2013/feed/ 0 Traders accuse government of burning Ketu Market http://businessnews.com.ng/2013/03/09/traders-accuse-government-of-burning-ketu-market/?utm_source=rss&utm_medium=rss&utm_campaign=traders-accuse-government-of-burning-ketu-market http://businessnews.com.ng/2013/03/09/traders-accuse-government-of-burning-ketu-market/#comments Sat, 09 Mar 2013 10:32:04 +0000 BusinessNews Staff http://businessnews.com.ng/?p=29794 Disaster struck Thursday night, as fire razed down the entire Ifelodun Plank Market located at Ketu, Lagos. No life was, however, lost. The fire was said to have started hours after the market had closed for the day. The fire, which started about 9pm, was said to have spread quickly throughout the market, threatening surrounding [...]

Traders accuse government of burning Ketu Market

]]> http://businessnews.com.ng/2013/03/09/traders-accuse-government-of-burning-ketu-market/feed/ 0 House of the Week: N150m Four Bedroom Town House For Sale In Osborne Foreshore, Ikoyi http://businessnews.com.ng/2013/03/01/house-of-the-week-n150m-four-bedroom-town-house-for-sale-in-osborne-foreshore-ikoyi/?utm_source=rss&utm_medium=rss&utm_campaign=house-of-the-week-n150m-four-bedroom-town-house-for-sale-in-osborne-foreshore-ikoyi http://businessnews.com.ng/2013/03/01/house-of-the-week-n150m-four-bedroom-town-house-for-sale-in-osborne-foreshore-ikoyi/#comments Fri, 01 Mar 2013 10:49:10 +0000 BusinessNews Staff http://businessnews.com.ng/?p=29520 Our property of the week is this elegant 4 Bedroom Town House located at Osborne Foreshore Phase I in Ikoyi, Lagos This tastefully designed home benefits from various luxury features including a swimming pool, lawn tennis court, gym, relaxation & fishing area. The home also benefits from a water treatment plant, 24 hours security with [...]

House of the Week: N150m Four Bedroom Town House For Sale In Osborne Foreshore, Ikoyi

]]> http://businessnews.com.ng/2013/03/01/house-of-the-week-n150m-four-bedroom-town-house-for-sale-in-osborne-foreshore-ikoyi/feed/ 0 Airlines in fierce competition for customers as Valentine approaches http://businessnews.com.ng/2013/02/13/airlines-in-fierce-competition-for-customers-as-valentine-approaches/?utm_source=rss&utm_medium=rss&utm_campaign=airlines-in-fierce-competition-for-customers-as-valentine-approaches http://businessnews.com.ng/2013/02/13/airlines-in-fierce-competition-for-customers-as-valentine-approaches/#comments Wed, 13 Feb 2013 11:11:36 +0000 Robert Obi http://businessnews.com.ng/?p=28785 Dana, Arik, Aero and other airlines operating in Nigeria have each slashed fares to attract customers this valentine season. While Arik reduced fares by 13 percent, Aero takes N9,000 to Lagos from Abuja while Dana is charging N9,999 for the same route. Dana’s bonanza is contained in a statement by Tony Usidamen, the airline’s Head [...]

Airlines in fierce competition for customers as Valentine approaches

]]> http://businessnews.com.ng/2013/02/13/airlines-in-fierce-competition-for-customers-as-valentine-approaches/feed/ 0 Nigeria Stock Exchange Watch: ASI (+1.99%) As Market Cap Approaches N10 trillion http://businessnews.com.ng/2013/01/18/nigeria-stock-exchange-watch-asi-1-99-as-market-cap-approaches-n10-trillion/?utm_source=rss&utm_medium=rss&utm_campaign=nigeria-stock-exchange-watch-asi-1-99-as-market-cap-approaches-n10-trillion http://businessnews.com.ng/2013/01/18/nigeria-stock-exchange-watch-asi-1-99-as-market-cap-approaches-n10-trillion/#comments Fri, 18 Jan 2013 19:39:27 +0000 Afolabi Ogunde http://businessnews.com.ng/?p=27761 The Nigerian Stock Exchange All Share Index gained 199 basis points in today’s trading bringing the year-to-date performance of one of the world’s best performing markets to 10.14%. The market capitalization of the bourse also topped N9.89 billion, gaining over N770 billion in two weeks. Shares of cement manufacturers continued to rise, CCNN (+4.97%), Ashaka [...]

Nigeria Stock Exchange Watch: ASI (+1.99%) As Market Cap Approaches N10 trillion

]]> http://businessnews.com.ng/2013/01/18/nigeria-stock-exchange-watch-asi-1-99-as-market-cap-approaches-n10-trillion/feed/ 0 Heritage Oil justifies acquisition of OML 30 http://businessnews.com.ng/2013/01/18/heritage-oil-justifies-acquisition-of-oml-30/?utm_source=rss&utm_medium=rss&utm_campaign=heritage-oil-justifies-acquisition-of-oml-30 http://businessnews.com.ng/2013/01/18/heritage-oil-justifies-acquisition-of-oml-30/#comments Fri, 18 Jan 2013 11:30:48 +0000 Ottoabasi Abasiekong http://businessnews.com.ng/?p=27742 Heritage Oil has reacted to the recent calls by the Nigerian Labour Congress and Trade Union Congress for the cancellation of the deal that led to its purchase of the OML 30 by Heritage Oil , over Integrity issues. The London based Oil Company operates in Africa, Middle East and Russia and is involved in [...]

Heritage Oil justifies acquisition of OML 30

]]> http://businessnews.com.ng/2013/01/18/heritage-oil-justifies-acquisition-of-oml-30/feed/ 0