Business
ICT: No basis to compare Nigeria with other countries says Minister
Those who are comparing Nigeria with the European countries in terms of Information Communication Technology (ICT) development may not be fair to the country, because of the times at which they venture into ICT. Minister of Communications, Adebayo Shittu said that Nigeria and others was not expected to progress at…
Read More »FEC approves N701b payment for GENCOs
The Federal Executive Council (FEC) on Wednesday approved a payment guarantee assurance by the CBN for power generating companies (GENCOS) to solve liquidity problems in the energy sector. The Minister of Works, Power and Housing, Mr Babatunde Fashola, who announced this to State House Correspondents, said the CBN would hold…
Read More »Xenophobia: Niger Delta Militants threaten 16 SA companies in Nigeria
More than 16 major South African investments in Nigeria, including MTN and Shoprite, have been asked to shut down operations in the country within one month, following the xenophobic attacks on Nigerians and their businesses in South Africa. The threat was given on Wednesday by a coalition of Niger Delta…
Read More »BRT fares hike takes effect today
The proposed hike of Bus Rapid Transit (BRT) and LAGBUS services fares in Lagos will take effect from today, March 1, 2017. To this end, patronises of the services will pay a bit more even without corresponding increase in their take home pay. Under the new price regime, commuting in…
Read More »Zenith Bank declares N129b profit amidst recession
Zenith International Bank Plc has declared a profit after tax of N129.65 billion and a final dividend of N1.77 per share for 2016. The company’s audited account released by the Nigerian Stock Exchange (NSE) on Monday in Lagos showed the bank grew its profit by 22.7 per cent, compared with…
Read More »FG boosts Agricultural sector with N750bn intervention
The Federal government has approved the sum of N750billion Agricultural Intervention Fund to bolster the sector towards food sufficiency, and to diversify the economy. Acting President, Professor Yemi Osinbajo, disclosed this during the inauguration of Senior Executive Course (SEC) 39 of the National Institute for Policy and Strategy Studies (NIPSS),…
Read More »OAS resumes operations
There are indications that the Asset Management Corporation of Nigeria (AMCON) may have resolved issues with Odengene Air Shuttle (OAS Helicopters) which it sealed off last weekend over alleged indebtedness. AMCON, it was gathered, had removed its seal and marks on the company’s property following the resolution of the issue.…
Read More »Our vehicles are test of our superiority: Mercedes-Benz
Managing Director of Weststar Associates, sole distributor of Mercedes-Benz products in Nigeria, Mirko Plath, has said that Mercedes-Benz products are designed to give car lovers a good driving experience. Plath who said this last Wednesday at the presentation of four new Mercedes-Benz vehicles in Lagos, Nigeria, said the vehicles are…
Read More »Bankers’ Committee to re-introduce charges on cash deposits April 1
The Bankers’ Committee has fixed April 1, 2017 to re-introduce charges on cash deposits by bank customers. The Director, Banking and Payment System, CBN, Dipo Fatokun, who announced this in a circular posted on the CBN website on Thursday  said that the Bankers’ Committee at its 493rd meeting held on…
Read More »Customs confiscates 1,870 bags of rice
The Federal Operations Unit (FOU) of the Nigerian Customs Service (NCS) On Wednesday raided the popular Sango market and confiscate about seven truckload of rice, and 43 kegs of vegetable oil allegedly smuggled into the country. The action got the traders angry prompting them to immediately mobilised to barricade the…
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