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The Rivers Government says it has saved a total of N34 billion for the ``rainy day.” The News Agency of Nigeria (NAN) reports that Gov. Chibuike Amaechi, at the inception of his administration in 2007, had promised to make a compulsory saving of ...
The Central Bank of Nigeria (CBN) says non-power companies that want to refinance existing loans have to apply two years earlier. The apex bank gave this directive in a circular posted on its Website titled: “N300 Billion Power and Airline Interv...
Wema Bank Nigeria Plc has concluded plans to reapply for national banking licence, its Managing Director, Mr Segun Oloketuyi, said. This is contained in a statement by the bank boss in Lagos on Saturday. The statement noted that the reapplication follo...
India's Bharti Airtel has announced that its second-fiscal quarter revenue rose by 17 per centwhilethe profitfell by nearly a third. Revenue reached $3.7 billion, led by strong growth of 77 per cent in India Mobile Data, 26 per cent in 'A...
Activities on the Nigerian Stock Exchange (NSE) ended on a downward trend on Friday with the market indices dropping by 0.62 per cent. The News Agency of Nigeria (NAN) reports that the market capitalisation lost N53 billion or 0.62 per cent to close at...
Following the deluge of customer complaints on excessive estimated billing, the Nigerian Electricity Regulatory Commission (NERC) has directed Electricity Distribution Companies (DISCOS) to organise sensitisation workshops for their staff in order to a...
Stanbic IBTC has officially adopted a holding company (HoldCo) structure, following final approvals by regulatory authorities. The HoldCo structure is in compliance with the revised regulatory framework by the Central Bank of Nigeria which requires ban...
There was an open argument over completion date for the construction of 3050 megawatts (MW) Mambilla hydro plant and 700MW Zungeru hydro plant, between the federal government and its contracting partners, Sinohydro Corporation and China National Electr...
The importation of rice has ``seriously'' undermined local production of the commodity, says the Sokoto State Commissioner for Agriculture, Dr Jabbi Kilgori. Kilgori, who made the statement during a visit to the Distric...
The Minister of Finance, Dr Ngozi Okonjo- Iweala, on Monday in Abuja, urged the House of Representatives to approve a $9 billion external borrowing plan from 2012 to 2015. Okonjo-Iweala, who is also the Coordinating Minister for...
President Goodluck Jonathan on Saturday said work was at advanced stage toward transforming the Abuja Securities and Commodities Exchange into a world class exchange. Jonathan made the statement in Lagos at the opening of the 2012 Lagos International T...
The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, says that the Federal Government will implement the White Paper on the reports of the task forces set up on the petroleum industry. The minister gave the assurance in Abuja on Friday duri...
Segun Ogunsanya will be responsible for defining and delivering the business strategy and providing overall leadership for Airtel Nigeria
Trading on the Nigerian Stock Exchange (NSE) ended on a positive note on Thursday after three consecutive days of decline. The News Agency of Nigeria (NAN) reports that the market capitalisation rose by N55 billion or 0.65 per cent to close at N8...
The African Financial Markets Initiative (AFMI), managed by the African Development Bank, hosted a Pan-African Stakeholder Workshop from October 22 to 24, 2012, at the Ramada Plaza Hotel in Tunis. The workshop offered a unique opportunity for policymak...