All business, markets and economics news
An expert in microfinance banking has blamed the distress being experienced in micro finance banks (MFBs) in the country on the adoption of conventional banking model by operators in the microfinance industry . The founder, Grameen Bank, Yunus Muhammad...
As part measures to stop reoccurrence of banking crisis in the country, Central Bank of Nigeria (CBN) has finalized arrangement to release an updated risk based supervision guidelines for banks. Speaking at a conference in Lagos, organised by the Risk ...
Maritime stakeholders consisting concessionaires, shipping line owners and government maritime agencies, who converged at the third annual Maritime Round Table (MAROUT) in Lagos yesterday have called on the federal government to urgently reconsider and...
The Bureau of Public Enterprises (BPE) has unveiled the shareholding structure for the 11 distribution companies created from the unbundling of Power Holding Company of Nigeria (PHCN). By the structure, 70 per cent of each distribution companies will b...
Activities on the floor of Nigerian Stock Exchange yesterday witnessed a bullish rally after days of bearish trend following an upswing in value of most blue chip stocks that led to the appreciation of both market indices by 0.3 per cent. It would be r...
President Goodluck Jonathan has called on the Association of Professional Bodies of Nigeria (APBN) to ensure that it addresses developmental challenges and proffer solutions. The president who was represented by the Minister of Works, Mike Onolememen, ...
Following the appointment of Mr. Tony Elumelu as Chairman of Transnational Corporation of Nigeria Plc (Transcorp), at the group’s annual general meeting in Abuja last week, the corporation has announced a number of board changes to strengthen its...
Central Bank of Nigeria (CBN) has said that the adoption of International Financial Reporting Standard and implementation of Basel framework will impact positively on the safety, soundness and stability of the financial system. The Deputy Governor, Fin...
The National Insurance Commission (NAICOM) has expressed its support for the organisers of the 2011 summit of the Nigerian Economic Summit Group (NESG). The Commissioner for Insurance, Fola Daniel, gave the assurance on behalf of the Commission, when a...
The Chairman of African Insurance Brokers Association (AIBA), Dr. Feyi Soyewo has called on insurance stakeholders to cooperate with the Nigerian Council of Registeread Insurance Brokers (NCRIB) and ensure that the provision of the Act establishing the...
Following the persistent market depression, the Nigerian Stock Exchange(NSE) has expressed hope that when the economic and market environment steadies, companies from sectors such as power, upstream oil and gas, telecoms and agriculture would choose th...
The contracts awarded to Dekit Construction Limited and Darcon Nigeria Limited, for the construction of the National Institute of Petroleum Strategy and Policy, Kaduna, by the Petroleum Technology Development Fund (PTDF) was at the weekend terminated b...
The Department of Petroleum Resources (DPR) is to impose `heavy’ sanctions on any oil marketer found to be aiding and abetting smuggling of petroleum products outside the country. The measure was announced in the quarterly journal of Petroleum Pr...
Some operators in the nation’s equity market have linked the persistent capital market depression to the exit of some foreign investors following the rising wave of insecurity in the country. While urging the federal government to be more apt and...
The aggressive advertising by telecommunication operators and telemarketing companies in Nigeria has left a sore taste in the mouth of many Nigerians as unsolicited messages have now turned to a nuisance to most of the populace. Nowadays a wide ...