archiveOctober 2016

Insurance experts are advocating for increased awareness on Takaful Insurance to increase the knowledge of Nigerians on it and how it is helpful to their well being. The experts, who spoke at the Takaful Insurance Symposium organised by Noor Takaful Plc in Lagos, said Takaful insurance is an inclusive product...

Oil prices fell more than one percent on Wednesday as a report showing a surge in U.S. crude stocks, rising production in Nigeria and squabbling among producers about a planned output cut re-ignited concerns about a global supply glut. According to Reuters’ report monitored by Business247 News Online, brent crude...

With about one month to the Ondo State governorship election, a coalition of civil society organisations in Abuja on Tuesday called on the Independent National Electoral Commission (INEC) to ignore threat by some unscrupulous politicians, who are not bent on truncating the country’s democracy, using ‘procured’ court judgement. Not less...

The House of Representatives has said that it will investigate a railway concession the government wants to grant to U.S. firm General Electric over possible procedural violations by Nigerian officials, lawmakers said on Tuesday. According to Reuters’ report monitored by Business247 News Online,the government and the GE have confirmed talks...

The Nigeria Postal Services, (NIPOST) may soon offering banking services if the proposal of the Communications Minister, Mr Adebayo Shittu to President Muhammadu Buhari is approved. The Minister revealed that the President’s approval being sought to establish a NIPOST bank, would enable the bank serve millions of Nigerians in the...

The Debt Management Office (DMO) has advised the Federal Government not to borrow above $22.08 billion in 2017. The DMO gave the recommendation on Tuesday in its 2016 Debt Sustainability Analysis (DSA) report, obtained by the News Agency of Nigeria (NAN) in Lagos. In the report, DMO stated that the...

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization decreased by 1.73 per cent, while the Year-to-Date return stood at -5.39 even as investors on the Exchange recorded a loss of N163 billion on Tuesday. The All Share Index closed at 27,098.52 against the previous close...

The Chief Executive Officer, Electronic Payment Providers Association of Nigeria (E-PPAN), Mrs. Regha Onajite, said that the Central Bank of Nigeria (CBN) and other key stakeholders in the payment sector have started tackling cases of electronic fraud (efraud) in the country, with the hope of finding a lasting solution. Onajile,...

The Federal Government is seeking the approval of National Assembly to borrow $29.960 billion (N10tn) for proposed projects across the country. The details of the request were contained in a letter sent to the National Assembly by President Muhammadu Buhari on Tuesday. In the letter dated October 20, 2016, he...

The Group General Manager, Group Public Affairs Division of Nigerian National Petroleum Corporation (NNPC), Garba-Deen Muhammad, on Tuesday said that there was no plan to increase the pump price of petrol. It would be recalled that the Group Managing Director, Crude Oil Marketing of the corporation, Mele Kyari, was in...