archiveAugust 2016

…to wind-down operations in 2023 Asset Management Corporation of Nigeria (AMCON)  yesterday posted a loss of N304.35 billion in 2015, wider than last year's loss of N275.49 billion, after it wrote-down the value of collateral recovered from its purchase of bad loans. Executive Director, AMCON, Mr. Aminu Ismail, said the...

Nestlé Nigeria Plc has announced that its operations for the half year period ended June 30 , 2016 was interrupted when finance costs rose by 361 per cent to impact negatively on profitability. The multinational company finance costs rose by 361 per cent to N14.89 billion in half year ended...

  …Tasks youths on creativity for sustainability Nigerian Bottling Company Limited (NBC), a member of the Coca-Cola Hellenic Group, has launched The Coca-Cola Glass Bottle Competition at the Yaba College of Technology (Yabatech). The competition, which has the overarching objective of driving creativity and engagement among youths, was flagged off...

Bayelsa State Governor, Hon. Henry Seriake Dickson has promised that despite the dwindling financial resources, occasioned by the general economic downturn, his administration will continue fulfil its obligations to the people of the state, especially the workforce. The Governor, who gave the assurance in his opening remarks at the 62nd...

The bull puts up a level of resistance today on the Nigerian Stock Exchange (NSE) to ensure that investors in equities on the bourse recorded  a gain of N21 billion as the Market Capitalisation and All-Share Index which closed on Wednesday at N9.509 trillion and 27,687.80 basis points closed today...

After three years of legal tussle over the illegibility of shop owners at Wuye Ultramodern Market‎, market women and shop owners on Thursday took over their shops amidst tight security. They have however started counting their loses as the protracted legal battle between the shop owners and some aggrieved persons,...

The Association of Nigerian Licensed Customs Agents (ANLCA) has threatened to shut down the nation’s ports over 43 per cent hike in customs duty. President of the association, Alhaji Olayiwola Shittu, said this on Thursday in Lagos. Shittu noted that the association condemned in totality the monetary policy that led...

Transnational Corporation of Nigeria has suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for the project. According to Bloomberg report monitored by Business247 News...

Lagos NIPR, the flagship Chapter of the Nigerian Institute of Public Relations (NIPR), today unveiled plans to foster government, business dialogue at the third edition of its annual Stakeholders’ Conference with the theme: Communication, Reputation & Sustainable Foreign Direct Investment in Nigeria, scheduled to hold at the Agip Recital Hall,...

The United States government has warned its citizens to stay away from 20 out of 36 states in Nigeria. The directive which was contained in an updated travel warning released on Wednesday, August 3, 2016 describes the states as unsafe. The release states: “The Department of State warns U.S. citizens...