archiveJuly 15, 2016

No fewer than 54 engineers in the indigenious telecommunications company, Globacom, were asked to go home on Friday by the company. It was learnt that the affected workers received official notification from the company that it no longer needed their services. In the notice of disengagement the company instructed them...

Skye Bank stocks dropped by 43 per cent to N0.60, the lowest in three months as investors continued to sell-off after the Central Bank of Nigeria (CBN) replaced its board and management. The lender stock which was selling at N1.05 on Monday, July 4, 2016 when the CBN announced the...

Zenith Bank Plc has launched a new mobile banking solution to make banking simpler and interesting. The bank’s *966# Eazybanking solution, which was recently launched into the Nigerian market, will complement the effort of the Central Bank of Nigeria (CBN) to build a cashless economy and enhance financial inclusion. The...

Nigeria's interbank overnight lending rate rose for the second consecutive week on Friday to an average of 15 percent from 10 percent a week ago, as banks scrambled for liquidity to settle bond purchases. Nigeria sold 120 billion naira worth of local currency-denominated bonds with mixed yields compared with the...

Consumer Protection Council of Nigeria (CPC) has commenced investigation on the veracity of claims regarding the health benefits of beer consumption that was made at the company’s third Nigerian Beer Symposium. According to a statement signed by the company’s Corporate Affairs Adviser, Kufre Ekanem, CPC mandated the brewing company to...

Investors on the Nigerian Stock Exchange (NSE) had a kind of respite on Friday as they collectively gained N26 billion, from N9.858 trillion on Thursday, the Market Capitalisation nudged up to N9.893 trillion on Friday even as the All-Share Index rose from 28,708.42 basis points on Thursday to 28,805.45 at...

Nigeria Customs Service (NCS),  Oyo/Osun Customs Command, has generated N7.25billion into government coffers between January and June 2016. The command also seized a bullet-proof Toyota Land Cruiser Prado and bags of rice in the period. The Command’s Area Controller, Timothy Ogunkua who disclosed in Ibadan said  that the command generated...

Leading African businessman and philanthropist, Tony O. Elumelu, CON, has stated that the capacity of women in the private sector to contribute to the development of the country was underestimated, pointing to the significant value created by female beneficiaries of the $100 million Tony Elumelu Foundation Entrepreneurship Programme (TEEP). According...

The firm of Olisa Agbakoba Legal as co-lead counsel to Dr. UcheOgahhas urged the President of the Court of Appeal to grant accelerated hearing in the pending appeals before the court in relation to the ongoing Abia State governorship tussle. Recall that the Federal High Court per Justice O.E Abang...

First quarter revenues in Nigeria reached only 55 percent of what the government had targeted, the Minister of Budget, Senator, Udoma Udo Udoma said on Thursday, blaming attacks on oil facilities in the southern Niger Delta region on the slide. According to Reuter’s report monitored by Business247 Online News, "Up...