All business, markets and economics news
Continental Reinsurance Plc has posted a 36 per cent decline in profit after tax during second quarter ended June 30, 2011. In filings from the Nigerian Stock Exchange(NSE), the unaudited result for the second quarter showed a profit after tax of N540....
The recent revocation of the operating licences of three rescued banks, namely; Afribank Nigeria Plc, Spring Bank Plc and BankPHB by the Central Bank of Nigeria(CBN) generated a lot of controversy within the nation’s financial system. The action ...
The federal government has concluded arrangement to pay the N2.5 billion severance benefits and pension arrears owed retirees of the Nigeria Postal Service (NIPOST). According to the arrangement, the office of the accountant general of the federation w...
Promasidor Nigeria Limited has flagged-off a “Win Cash with Loya” promo to reward and excite its teeming consumers across the country.The general manager, Marketing of the company, Mr. Kachi Onubogu disclosed this at a media launch to flag-...
The group managing director (GMD) of Mainstreet Bank Limited (MBL), Mrs Faith Tuedor-Matthews and other executive directors(EDs) of the bank appointed by Asset Management Corporation of Nigeria (AMCON) assumed duty formally at the bank’s head off...
Lately, aviation minister, Stella Oduah, undertook a tour of airports in the country and came out with the verdict that infrastructure at the various gateways were in dire straits. Analysts say the minister should hit the ground running and take steps ...
The federal government plans to sell 70 billion naira ($458.3 million) in three, five and 10-year sovereign bonds on August 17, its eighth debt auction of the year, the Debt Management Office said yesterday. The debt office said it would sell 30 billio...
In a bid to increase food production in the country, Ekiti State governor Dr. Kayode Fayemi, has canvassed for the speedy completion of the ongoing 100,000 metric tonnes silo in the state. The governor who made the appeal when he paid a courtesy call o...
The federal government and Kano State government are set to boost tomato paste production in Nigeria. The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, disclosed this in Abuja when he received Kano State Commissioner of Agricultu...
The state of many once thriving industries in the South East now moribund has been blamed on the unfriendly attitude of the state governments, ranging from government’s multiple taxation to poor patronage of their products to outright abandonment...
With one week to the August 15 expiration of the deadline given by the Standards Organisation of Nigeria (SON), to importers to take fake and substandard products out of circulation, tension is mounting. Our Special Correspondent, IKPO IGBINOBA who has...
In line with its new mandate, the new Ministry of Trade and Investment is set to introduce Performance Measurement Scheme (PMS) to measure the productivity of its workers. Minister of Trade and Investment, Olusegun Aganga,disclosed...
Mixed feelings greeted the decision of the Central Bank of Nigeria (CBN) to nationalise three banks in Ekiti State as customers grappled with change of managements in the affected financial institutions. A visit to the branches of the three affected ba...
The departments, agencies and parastatals under the ministry of trade and investment said they would create additional 3,100,850 jobs within the next three years.This was one of the highpoints of the communiqué issued at the end of a three-day retreat...
Ammasco International Limited, an independent lubricant blending company in the country has again reassured users of lubricants that it would always deliver products that met the best international standard. Chief Executive Officer of the company, Alha...