archiveJanuary 23, 2017

The House of Representatives on Monday queried the Acting Managing Director of the Bank of Industry (BOI), Mr Waheed Olagunju, over the N500 billion power and airline intervention fund (PAIF). The PAIF was established by the Central Bank of Nigeria (CBN) in 2009, but is domiciled and managed by the...

Nigerian Stock Exchange (NSE) appreciated marginally by N2.7 billion on Monday as investors’ appetite waned over uncertainty surrounding the Central Bank of Nigeria (CBN Monetary Policy Committee (MPC) meeting that commenced today. The market capitalization closed on the day at N9.025 trillion after adding N2.7 billion, from N9.023 trillion it...

An investigation into the cause of faulty batteries that led Samsung to pull all of its Galaxy Note 7 smartphones last year found that some batteries were irregularly sized, causing overheating, while others had manufacturing problems, according to people familiar with the matter. The conclusion, which will be unveiled by...

  Guinness Nigeria said on Monday it was seeking shareholders approval to raise N40 billion with a Rights Issue of shares to strengthen its balance sheet following recent losses. Shareholders will vote on the share sale on Tuesday, January 24, 2017. The company, which is 54 per cent owned by...

By Abdul Olalekan The Ogun State Government has paid a sum of N1.5 billion to 546 retirees in the state in fulfilment of it promises to offset arrears of gratuity due to retired civil servants in the state. The state Head of Service, Mr. Abayomi Sobande, while presenting cheques to...

By Abdul Olalekan Insurance industry in the country is witnessing a new innovation, as ATB Techsoft Solutions Limited, an ICT firm, has launched Ultisure, software for insurance policy administration. The technology is one of the local softwares specifically designed for insurance companies in the country. Speaking during the unveiling of...

...Wages war against workers, payroll fraud The Bayelsa State Government has announced a number of stern measures, including outright dismissal of any of its workers who would be found culpable of absenteeism, truancy, payroll fraud and other sharp practices that are inimical to the public service rules. Also, as part...