archiveSeptember 29, 2016

The Federal Government has declared Monday, October 3, 2016, as Public Holiday to mark Nigeria’s 56th Independence Anniversary. The Minister of Interior, Lt-Gen. (rtd) Abdulrahman Bello Dambazau, made the declaration on Thursday. On behalf of the Federal Government, he congratulates Nigerians at home and abroad on the commemoration of this...

Investors on the Nigerian Stock Exchange (NSE)  traded 365.37 million shares on Thursday valued at N2.09 billion exchanged in 2,905 deals as against the 159.05 million shares worth N1.45 billion traded in 3,237 deals on Wednesday. The Financial Service Sector remained the toast of investors as Continsure emerged the most...

The Minister for Industry, Trade and Investment has on Thursday dismissed the accusation that he was involved in an alleged illegal transfer of $13.92 billion MTN. A parliamentary motion named Okechukwu Enelamah earlier this week, saying MTN had used him and some Nigerian banks to move the money out of...

The Transition Monitoring Group (TMG) in a statement signed by its Chairperson Dr. Abiola Akioyede-Afolabi  said the TMG observers reported complaints about allegations of inducement of voters by political parties on the basis of ‘vote for cash/cash for vote’ to influence who they voted for. “This will be a sore...

The Federal Government is set to reduce the income tax rates payable by Small, Micro and Medium Enterprises (SMMEs) in the country to encourage more start-ups in SMMEs, boost the profitability of the existing ones, generate new jobs and make higher contribution to the Gross Domestic Product (GDP). The new...

Indications have emerged that the Federal Government has concluded plans to resuscitate the suspended Export Expansion Grant (EEG) even as the special committee to review the scheme has submitted its report. This was revealed on Thursday by Barrister George Enyiekpon who represented the Nigeria Export Promotion Council (NEPC) at the...

As weak revenue and hike in finance charges, Vitafoam Nigeria Plc has announced N159 million loss in nine months. The household company in its unaudited financial statements for the period ended June 30, 2016 shows a poor state performance compared to prior nine months of 2015. The company had announced...

Former Lagos State Governor and APC National Leader, Asiwaju Bola Tinubu, has congratulated the party's candidate in the Edo State governorship election, Mr. Godwin Obaseki, for his victory in the election, saying Edo people have made their choice. He said Obaseki is a tested technocrat who is competent and experienced...

Total Group has announced the appointment of Mr. Abiodun Afolabi to the Board of Directors of Total E&P Nigeria Limited (TEPNG) and Total Upstream Nigeria Limited (TUPNI), with effect from Wednesday, 21 September, 2016. Afolabi’s appointment according to a statement by the company is in pursuant to Resolutions of the...

Nigerian banks are finding it difficult to raise capital as shrinking economy cuts revenue and deters investors, the industry’s regulator said. According Bloomberg story monitored by Business247 News Online, “It’s been tough,” Umaru Ibrahim, managing director of the Nigerian Deposit Insurance Corporation (NDIC), said in an interview in Abeokuta on...