archiveAugust 2016

As part of its efforts at broadening its operation base by expanding its branch network,  Wema Bank has said it plans to issue 20 billion naira ($63 million) in bonds this month, its Chief Finance Officer Mr. Tunde Mabawonku, has said. The bank is issuing local currency bonds after scrapping...

The Bank of Industry (BoI) has strengthens its partnership with Heritage Bank Plc to boost entrepreneurship in the country through innovative ideas support and financing. Speaking at the opening of Live Well Bia Foods Outlet in Surulere, Lagos, on Tuesday, Acting Managing Director, Bank of Industry, Mr. Waheed Olagunju, said...

The Lagos State Government has paid  N891 million  to 324 retirees from the sainstream civil service, local governments, State Universal Basic Education and other parastatals of government for the month of July, 2016. A statement from the Lagos State Pension Commission (LASPEC), and made available to Business247 News Online stated...

The Asset Management Corporation of Nigeria (AMCON) may lease out properties seized from companies that are failing to repay loans as the corporation grapples with its own cash crunch. It may introduce the “real-estate investment scheme” by the end of the year to raise money to meet its bond repayments,...

The Central Bank of Nigeria (CBN) has advised Nigerians at home and abroad to beware of the activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. The advice is conveyed through a press statement signed by CBN’s Acting Director of Communication, Mr Isaac Okorafor in Abuja on Tuesday....

The nation’s Economic Management Team met with top economists and financial experts in Abuja on Tuesday in continuation of its consultations towards finding solutions to the tough economic situation in the country. The meeting which was presided over by Vice President, Prof. Yemi Osinbajo, had in attendance Prof. Akpan Ekpo,...

Trading on the Nigerian Stock Exchange (NSE) ended positive today as investors recouped N54 billion in the day trading as the Market Capitalization and All-Share Index which closed on Monday at N9.563 trillion and 27,843.00 basis points respectively closed today at N9.617 trillion and 28,000.80 respectively. A total of 68.391...

  As CBN charges banks to provide for dollar loans The Naira today depreciated further against the dollar at the parallel market, Business247 News Online reports. The Nigerian currency exchanged at N380 to the dollar, from N378 it traded on Monday, while it exchanged against the Pound Sterling and the...

The Federal Government has set up a Presidential Enabling Business Environment Council committee to address bottlenecks affecting smooth operations the Nigerian industrial sector. The Minister of Industry, Trade and Investments, Dr Okechukwu Enalamah, who made this revelation stakeholder in Lagos yesterday, said it was part of the Federal Government’s efforts...

The Corporate Affairs Commission (CAC) has started an in-house review of the Companies and Allied Matters Act (CAMA), which has been in operation for over 20 years. The commission Director of Public Affairs, Churchill Williams, said in a statement that the review was "part of efforts to bring the CAMA...