*Says withdrawal of polymer notes by the CBN is based on durability
BY UDEME CLEMENT
The move by the Central Bank of Nigeria (CBN) to jettison polymer naira notes less than a decade after it was introduced by the same bank has sparked controversy in the financial sector. While some experts stressed that the new [...]
The Federal Government has expressed its determination to tackle challenges of exporting traditional food produce to the European Union and United Kingdom.
Governor Babatunde Fashola of Lagos State, on Tuesday, urged Nigerians to imbibe the culture of conservation as a way of life in all sectors, especially in the energy area.
The Lagos State Commissioner for Works and Infrastructure, Dr. Kadri Obafemi Hamzat, said in spite of its immense economic potential, Nigeria is likely to be excluded from global business if it fails to develop core infrastructure that would position it to be a global economic hub.
The Managing Director of Courteville Business Solution, CBS, Plc, Mr. Adebola Akindele, has said that the stock is under priced at 50kobo, blaming the present value on under-performance by the designated market maker to the company.
May & Baker Nigeria Plc has announced its audited report and accounts for the year ended December 31, 2012, indicating that total sales rose by 17 percent to about N6 billion.
The shares of United Bank for Africa Plc and Total Nigeria Plc reacted positively to their first quarter result released during the week, just as profit taking depreciated the share value of Cadbury Nigeria plc.
The Lagos Chamber of Commerce and Industry, LCCI, has lamented the worsening state of insecurity in the country, saying it is already taking a severe toll on investors’ confidence.
The Nigeria Customs Service (NCS) said that Global Scansystems, one of the Destination Inspection agencies, has failed to deliver on its contract with the Federal Government.
One of the fall-outs of globalization is the rising status of Outsourcing. It is a business practice whereby a company contracts out an internal business process to a third-party organization. In Nigeria, though not yet as prominent as in other countries, more companies are embracing the practice in their bid to cut cost and focus operations on their core objectives.
This was indicated by the Central Bank of Nigeria (CBN) in its economic report for the first quarter of 2013. According to the report foreign exchange outflow from the economy in the first was $6.54 billion. This outflow was dominated by foreign exchange outflows for ‘invincibles’. Invincible represents money took out of the economy by foreign investors as dividend payment or liquidation of portfolio investment (bonds, equities, treasury bills).
THE Lagos State Government has concluded plans to establish an insurance welfare scheme for over 7, 000 artisans in the state. It also said that the ongoing construction of the three Enterprise zones tagged E-zones would be completed very soon to accommodate the artisans.
Reactions have started trailing the move by the Federal government to check the use of private jets in Nigeria. Reacting to the government’s policy on the declaration of manifest by private jet operators, a former member of House of Representatives, Ibn Na’allah, who owns a private jet, said the new policy is too restrictive and International Civil Aviation Organisation, ICAO, detests bureaucracy, which is detrimental to seamless air operation.
Consul- General of the United States to Nigeria, Mr. Jeffry Hawkins has disclosed plans by the United States government to establish a $250 million fertilizer plant in Edo Sta
The news of collapsed and burnt buildings have been a reoccurring issue in Nigeria, but the sad part is that nothing seem to be changing. Tomorrow, another building might collapse or burn down and Nigerians would carry on as if nothing happened.
Fire accidents are very much unexpected but heavily destructive. Hence, having fire insurance is very much essential.
Property insurance can be a life-saver in a variety of different situations, and having it on your side often means the difference between a company that survives a slight downfall and one that is forced to fold.
If you want to make money investing in shares, you must not follow the crowd. When the stock market was booming and almost every company was selling shares, investment in shares became popular. Every Tom, Dick and Harry started buying shares.
The Central Bank of Nigeria (CBN) has affirmed that the second phase of the cashless initiative will begin July 1, 2013. Deputy Governor, Operations, CBN, Mr. Tunde Lemo, confirmed this weekend, saying that the planned extension of the cashless policy to five states, as well as the Federal Capital Territory (FCT) from July 1 still holds. The states to implement the cashless initiative include Rivers, Kano, Anambra, Ogun and Abia as well as the FCT.
As Nigeria continues to grapple with the challenge of reliable data, the World Bank has urged the Federal Government to build a strong and reliable data base to monitor its development agenda.
The Nigeria Extractive Industries Transparency Initiative, NEITI, has kicked against certain provisions of the Petroleum Industry Bill, PIB, especially sections that seek to increase the powers of the minister of petroleum, calling for a review of the Bill to limit the powers of the minister.
Attendance at the 2013 Offshore Technology Conference, OTC, which held at the Reliant Park in Houston Texas, USA between May 6 and 9, reached a 30-year high of 104,800, the second highest in show history and 17 percent above last year.
Stockbrokers have sent so many people to their early graves. They are significantly the reason why people are running away from the market or do not want to buy shares. They sell people’s shares; before you know it while you are in your house, a broker is trading your shares out there, and at the end of the day if you are fortunate, they will reverse the trade and if not, that is your luck.
Seplat Petroleum Development Company Limited, a major indigenous player in the petroleum exploration and production business in Nigeria and its Joint Venture partner, Nigerian Petroleum Development Company (NPDC) a subsidiary of Nigeria National Petroleum Corporation, NNPC have commenced its 2013 Corporate Social Responsibility, CSR, initiatives in host communities.
UAC Nigeria Plc, Monday said that it has entered into a N4.21 billion business partnership with Imperial Logistics, a leading international logistics and supply chain arm of the South Africa-based Imperial Holdings Limited.
Against the speculation that construction of Lekki Port LFTZ Enterprise is being delayed by paucity of funds, the Project Manager, Mr. Tejaswi A. Vanamali, has assured that they are on track to meet the Q3 2016 operational take-off date, and are set to complete the financial obligation by third quarter of the year.
The United Kingdom’s Shadow Secretary of State for Business, Innovation and Skills, Chuka Umunna, has led a joint London Chamber of Commerce and Industry, LCCI and United Kingdom Trade and investment, UKTI, North West trade mission to strengthen the Small and Medium Enterprises in Nigeria.
In an effort to improve the fortunes of the downstream sector of Nigeria oil and gas industry, the Western Zone arm of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised its members to re-strategise their business investment’s plan.
In July 2010, the United States Congress carried out a robust reform of the financial industry with the passage of Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) The act is geared towards enhancing transparency and accountability in the U.S. financial system.