archiveAugust 2016

The Federal Government has approved the appointment of Dr Ezekiel Oseni as acting Managing Director of the National Economic Reconstruction Fund (NERFUND). The information is contained in a letter signed by the Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse, on Wednesday in Abuja. According to the Permanent Secretary, “Oseni’s...

Standard Bank, Africa’s largest bank by assets, is partnering with international news and events provider TMT Finance for the inaugural TMT Finance Africa Conference 2016, which is holding in Lagos and is bringing together the leading decision makers in African telecoms, media and technology (TMT) to Lagos on September 20,...

…Naira hits N400/$ Perhaps as a fall out of the ban from foreign exchange market by the Central Bank of Nigeria (CBN), the share price of most of the affected lenders received some bashing on the Nigerian Stock Exchange (NSE) yesterday. Diamond Bank Plc, First City Monument Bank Plc, Sterling...

The Central Bank of Nigeria (CBN) has said that non-performing loans (NPLs) in the banking sector rose by 78 per cent year-on-year to N649.63 billion at the end of May this year. The Governor of CBN, Godwin Emefiele revealed this while speaking on Wednesday in Lagos at the third National...

AIICO Pension Managers Limited (APML) has unveiled Ms. Joke Silva, an actress, producer and TV personality, as its Brand Ambassador. The Pension Fund Administrator (PFA) also launched a CSR project as part of its plan to mark its 10-year anniversary. Speaking on this development, Mr. Tunde Ottun, Head of Strategic...

Some former students of Bayelsa State origin have accused the Academic Staff Union of University (ASUU) in Niger Delta University (NDU) for playing politics with the future of students in the guise of a false solidarity struggle. The organisation under the aegis of  National Union of Bayelsa State Students (NUBSS)...

The Nigeria Association of Small and Medium Enterprises (NASME) said the nation’s business climate is still not friendly to indigenous entrepreneurs. The President of the Association, Prince Degun Agboade stated this in his welcome address at the stakeholders forum with major MSMEs regulatory agencies in Lagos; he identified agencies that...

Director, Research and Advocacy, Lagos Chamber of Commerce and Industry (LCCI), Vincent Nwani said Nigerian businessmen have refused to repatriate about 10 billion dollars, citing “unfavourable domestic policies’’. Nwani announced this at a stakeholders’ dialogue on the manufacturing sector in Nigeria on Tuesday in Abuja. He called for an urgent...

The Central Bank of Nigeria (CBN) has banned nine deposit money banks (DMBs) from the foreign exchange market for allegedly hiding over $2 billion said to belong to the Nigerian National Petroleum Corporation (NNPC). President Muhammadu Buhari last year began the implementation of Treasury Single Account (TSA) that mandated public...

Japan International Cooperation Agency (JICA) has donated solar power worth $9.7 million to the Federal Government to boost electricity in the country. Japanese Ambassador to Nigeria, Mr Sadanobu Kusaoke, disclosed this in Abuja on Tuesday during the inauguration of the project. Following successful tests on the installed solar system, the...