archiveSeptember 2016

Professor Pat Utomi has blamed current economic recession on faulty policy and regulations of President Muhammadu Buhari’s administration. Utomi who spoke in Lagos at the weekend said Nigeria’s economic challenges goes beyond the fall in oil price at the international market. According to him, “Oil, even though it is special...

As the fifth session of the Monetary Policy Committee (MPC) meeting this year begins today and ending tomorrow, analysts have predicted that there may not be changes in policy rates. They are, however, unanimous that there is need for more accommodative fiscal and monetary policies alongside structural reforms that will...

The National Hajj Commission of Nigeria (NAHCON) has said that 18 Nigerian pilgrims who took part in this year’s Hajj in Saudi Arabia for 2016 died. This increased in the number of deaths among the pilgrims from 10, which was recorded as of Arafat day. The Head of NAHCON’s medical...

The Africa Finance Corporation (AFC), a development-finance institution that funds infrastructure on the continent, plans to sell more Eurobonds to support energy-generation and logistics projects. The Lagos, Nigeria-based lender, which has financed projects in 26 African countries, plans to borrow more offshore in its $1.5 billion funding strategy after raising...

Insurance companies and motorists in Ogun State are lamenting the monopoly of the third party motor insurance policy being issued to motorists in the state by the state government, which they said contravenes the National Insurance Commission (NAICOM) policy. The umbrella body of the companies alleged that the state government...

  Praises CBN’s Anchor Borrowers’ Scheme Banks’ deposits are mainly short-term in nature and lending such funds to customers for long-term can lead to asset mismatch, Managing Director/CEO, Fidelity Bank Plc, Namdi Okonkwo has said. The bank chief who spoke at the 2016 Annual Conference of the Finance Correspondents Association...

  29 people injured, one in  serious condition An explosion rocked the Chelsea neighbourhood of Manhattan on Saturday night, injuring at least 29 people, authorities said, adding that they were investigating the blast as a criminal act not immediately linked to any terror organization. United States of America (USA) is...

Director, Development Finance Department, Central Bank of Nigeria (CBN) Mr Mudashiru Olaitan has revealed that the apex bank has set up committee to review its policy on the non-oil Export Stimulation Facility (ESF) which includes N500 billion low interest rate non-oil export facility. Business247 News Online recalls that the ESF...

Insurance experts have called on the Federal Government to enforce compulsory insurances, while leveraging on insurance to grow the economy. The Chairman, Nigerian Insurers Association (NIA), Mr. Eddie Efekoha, while speaking at Professionals' Forum organised by the Chartered Insurance Institute of Nigeria(CIIN) in Abeokuta, Ogun State, charged government to embark...

An Abuja-based Pension Fund Administrator (PFA), Premium Pension Limited, has won the Africa’s Most Innovative Pension Company of the Year, 2016 award. The award was conferred on the PFA by the African Quality Institute- publishers of Quality Standard Magazine. Reacting on the award, the Managing Director of the firm, Mr....