archiveJune 2016

The Federal Government has directed all staff of the National Economic Reconstruction Fund (NERFUND) to immediately return to their duty posts as the crisis within the organisation has been resolved. According to a press statement form the Ministry of Finance made available to Business247, the directive was passed on Tuesday...

The Nigeria Deposit Insurance Corporation (NDIC) said on Tuesday in its annual report that fraud cases in the banking sector increased by 15.71 per cent in 2015. The corporation explained that a total of 12,279 fraud cases were reported, representing an increase of 15.71per cent over the 10,612 fraud cases...

Total equities on the trading floor of The Nigerian Stock Exchange (NSE) have dropped by 3.1 per cent in three years to 190, checks by Business247 have revealed. Data gathered by our correspondent revealed that equities on the secondary market in 2013 stood at 198. A year later, it dropped...

Niyi Olaoye The Nigerian Deposit Money Banks (DMBs) are now increasingly relying on various forms of incentives, such as cash reward  to woo new customers, in order to switch their everyday banking to them, Business247 revealed. Business247 gathered that at various banking halls across the nation, customers now meet a...

The shareholders of Lafarge Africa Plc have approved a dividend of N3 per share and a bonus of one for every ten shares for the year ended December 31, 2015. The leading cement and building solutions provider, achieved growth in its operations as recorded in its full 2015 results, surmounting...

The equities market resumed the week negative as market indicators of the Exchange fell by 2.64 percent as a result of profit taking as well as cautious trading amidst cautious trading across global markets on the account of the Britain vote to exit the European Union. The Market Capitalisation closed...

Minister of Finance, Mrs Kemi Adeosun, told viewers of Channels television that if Nigeria is to achieve sustainable growth, it needs a planned approach to financial discipline, targeted investment and economic diversification. Speaking on the Sunrise programme, Adeosun said: “The government’s Economic Plan is strong on fiscal discipline, because people...

Fidson Healthcare Plc has announced the commencement of operations at its ultra modern plant, possibly the largest pharmaceutical manufacturing facility in Africa. The company noted that the new ultra modern plant was in line with World Health Organization (WHO) complaints. The new ultra modern facility is equipped to produce six...

Nigeria is seeking $40 billion to $50 billion in investment in oil projects just as it said it raised crude output to as much as 1.9 million barrels a day as of two days ago. According to Bloomberg reports, Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu said in...

The New York Stock Exchange has opened and the Dow Jones Index promptly dropped by 148 points, or 0.85 percent. Overall, global investors are still clearly worried about Brexit. Analysts say trading this week throughout the world could be volatile. I'll have a short summary of the full day's trading...