The Africa Finance Corporation (AFC) has formalised a strategic partnership with the Infrastructure Development Finance Company Limited (IDFC), through the signing of a Memorandum of Understanding (MoU) between the AFC and IDFC Capital Limited (IDF...
The direct cost of cash to the financial system may balloon to nearly N200 billion next year, unless efforts are made to reduce cash transactions in the economy. The cost was less than N50 billion in 2008. Director, currency operations department o...
The Central Bank of Nigeria needs to urgently resolve outstanding issues in the financial sector so that the sector can actively play its intermediation role in the economy. The chairman of UAC Nigeria Plc, Udoma Udoma, at the company’s annual genera...
The number of people with Internet access in Nigeria could triple over the next two years, mirroring the explosion in mobile phone usage in Africa’s most populous nation, an industry executive said on Wednesday. Funke Opeke, chief executive of the Ma...
A new subsidy regime for the electricity sector would come into operation next year, as part of efforts to step up electricity generation and improve distribution nationwide. Bolanle Onagoruwa, director general of the Bureau for Public Enterprises, w...
The holidays are almost here. With all the excitement of deciding where to go and what to do, it is so easy to overspend. Whilst we don't want you to be a scrooge, here are a few ways to manage your holiday finances and still have lots of fun. Plan ...
Namibian state-owned mining company, Epangelo Mining, will not commit itself to a fixed share in future joint ventures with mining firms, managing director, Eliphas Hawala, told Reuters in an interview on Wednesday. Mining minister, Isak Katali, made international headlines last month when he said certain minerals, including uranium, would be declared strategic and their future mining would fall under Epangelo.…
Tanzania’s state-run power company announced on Wednesday daily 16-hour power cuts for a week starting from Thursday, due to an expected shortfall of up to 350 megawatts on the national grid. The Tanzania Electric Supply Company said gold mines, factories and other major energy users had agreed to cut down power consumption during the week-long blackouts. East Africa’s second largest…
Zambia will decide on oil and gas exploration licences for about 14 blocks in the next two months, as petroleum prospecting interest in the copper miner increases, a senior government official said on Wednesday. Zambia last year started issuing oil and gas exploration licences to local and foreign companies in a bid to become an energy producer, after it passed…
19 May 2011 Nigeria Premier League (NPL)kings Enyimba thrashed title contenders Sunshine Stars 4-0 to continue their steady rise to the top of the table Wednesday. Enyimba have thus climbed three spots to sixth place in the standings with 35 points from 22 matches, while Sunshine remain in second place on 42 points. Striker Victor Barnabas opned scoring for his…
19 May 2011 West Bromwich Albion star striker Osaze Odemwingie has been dropped from Nigerias two top matches against Argentina and Ethiopia next month with coach Samson Siasia insisting the player is not bigger than Nigeria. Siasia has brought the big hammer down on Osaze after he walked out on the Eagles ahead of a friendly against Kenya in March.…
19 May 2011 The fourth of our series looking at best African performers in Europe. Following on from our look at the best Africans in England, Spain and Italy this season, we turn our attention to the French Ligue 1. 5. Modibo Maga (Sochaux/Mali) Appearances/goals: 34/14 The Mali forward joined Sochaux at the start of the season from le Mans…
Osita Izunaso, the senator representing Imo West under the platform of the Peoples Democratic Party (PDP) may be on his way to joining the All Progressive Grand Alliance (APGA) where he hopes to have another shot at the Senate in 2015. Mr Izunaso who was defeated by Hope Uzodinma for the Imo West seat under the PDP, is believed to…
The leader of the Oodua People’s Congress (OPC), Frederick Fasehun, has called on the present administration, led by the Peoples Democratic Party (PDP), to ensure that the position of Speaker of the House of Representatives remained with the South West. According to Mr Fasehun, anything contrary to this would be short-changing the Yoruba. “We hate to think that the Yoruba…
The Action Congress of Nigeria (ACN) in Ondo State and its candidate for Owo constituency I in the state House of Assembly, Ogunoye Folashade have levelled charges of alleged certificate forgery against the Labour Party (LP) legislator-elect in the area, Samuel Arowele. This was contained in a petition they submitted to the Ondo State Election petitions tribunal. Counsel to the…