Business

African companies can free up additional working capital to the tune of USD 33.5bn if suppliers allow a payment term of 30 days after delivery of goods and services, study has shown. The study carried out by Euler Hermes revealed that rather than demanding payment in cash advance, a 30-day…

Operators of Micro, Small and Medium Enterprises (MSMEs) are now to enjoy five percent credit facility, the federal government has said. The initiative the government said is to stimulate the sector and to give operators more access to funds. Speaking at the maiden edition of the national MSMEs award, Vice…

Minister of Power, Mr. Babatunde Fashola has said that with the increased power generation to 7,000 megawatts, the country should have less complain about power distribution. The minister said this in Calabar at the 4th retreat for top directors, heads of units and chief executives of agencies and parastatals under…

In line with its commitment to reward productivity and also bolster efficiency within the organization, Ikeja Electric (IE), Nigeria’s leading electricity distribution company, has announced the promotion of 299 employees across various job grades in the business, while employing over 500 new staff in the last one year. According to…

The Bureau of Public Enterprises (BPE) is eying the setting up of a central body to act as a clearing house for all the challenges faced by operators and stakeholders in Nigeria’s privatised electricity market. The body said it made the recommendation to complement the jobs of the Nigerian Electricity…

Ikeja Electric Plc, (IE) has commenced the distribution of single and three phase prepaid meters across its network, in keeping with its promise to ensure that its customers are metered, thereby reducing the incidence of estimated billing. The first batch delivery of meters, which have been delivered by Mojec International…

Australian home entertainment installer Paul Boon has relied for years on Amazon.com Inc’s (AMZN.O) U.S. website for cheap wall racks and other parts to keep his costs down. But Amazon’s recent move to stop Australians from shopping on its foreign websites, due to a new law that requires it to…

  Large shipping losses have declined by more than a third (38%) over the past decade, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2018, with this downward trend continuing in 2017. Yet recent events such as the collision of the oil tanker “Sanchi” and…

Actors Guild of Nigeria (AGN) president, Ejezie Emeka Rollas has dissociated self from a film project involving American movie stars, Sylvester Stallone and Samuel L. Jackson. Reacting to a poster making rounds on the internet that has among other actors his photo, Ifeanyi Azodo and the Hollywood veteran actors, Stallone…

The Central Bank of Nigeria (CBN) has taken a stance the shoddy way the country’s banknotes is being handled. The apex bank though assured economic agents such as the marketers, merchants, shopping malls, supermarkets of the bank’s continuous injection of huge volumes of the banknotes into the circulation. The development,…