Tuesday September 23rd, 2014
Tuesday September 23rd, 2014
Latest

Jonathan urges CIBN to implement Transformation Agenda’s policies

  /   in Business 5:39 pm   /   Comments

Jonathan

President GoodLuck Jonathan has urged the Chartered Institute of Bankers of Nigeria (CIBN) to ensure effective implementation of policies that will complement Federal Government’s transformation agenda.

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FG approves N213bn for power intervention fund

  /   in Energy   /   Comments

electricity

The Federal Government has announced a N213-billion facility to help offset the legacy gas debts and address the revenue shortfall in the power sector.

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Oil sector loses N32bn foreign investment

  /   in Energy   /   Comments

A refinery

The non-passage of the Petroleum Industry Bill, PIB, has started to take its toll, as foreign investments into the oil and gas sector dropped by $197.31 million, about N31.6 billion in three months, between April and June 2014.

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DPR says migration to electronic operations yields dividends

  /   in Energy   /   Comments

Offshore gas facility

It is no gainsaying that technology has changed practically every facet of the human life from lifestyle to living, and most importantly the way humans do their works.

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Consortium pools $400m for 260MW plant in Ogun

  /   in Energy   /   Comments

Gov Ibikunle Amosun

A Consortium of foreign financial institutions has generated a total of $400 million to construct a 260-megawatt, MW, power plant to be located in Ewekoro, Ogun State.

Lafarge Nigeria Limited, the cement manufacturing company is the lead arranger of the deal, which also includes the International Finance Corporation, IFC, a subsidiary of the World Bank; Wartsila-Development; and Financial Services Company based in Finland.

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Inability to recoup investment frustrates local production of meters

  /   in Energy   /   Comments

Electricity-new

The uncertainty of distribution companies, DISCOs, to recoup their investments may be hampering their desire to patronise local meter manufacturers, as it takes a long time to recoup investment from locally manufactured meters.

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Ministry decries smuggling of minerals

  /   in Energy   /   Comments

File Photo

Following the surge in illegal activities in the Solid Minerals sector, the Minister of Mines and Steel Development, Mr. Musa Sada, has condemned the continued smuggling of mineral resources out of the country.

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Nigerians to pay more for cooking gas

  /   in Energy   /   Comments

Gas-energy

Nigerians will be compelled to pay a sudden 48 percent price increase for liquefied petroleum gas, LPG, also known as cooking gas, as a 12.5 kilogramme of the product has risen to N4,000, up from N2,700 previously.

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Systemic crisis looms in banking sector

  /   in Business 1:45 am   /   Comments

The Central Bank of Nigeria head office  in Abuja.

There are indications that some banks are not making adequate provisions for bad and doubtful loans in their books as mandated by the Central Bank of Nigeria, CBN.

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Why people fail in their business

  /   in Business   /   Comments

market-2

Starting your own business can yield amazing rewards but at the same time it’s a pretty big risk. One of the biggest reasons why people fail is they enter into a business and doesn’t have profitable market.

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‘Fringe players render brokerage firms unattractive for foreign partnership’

  /   in Business   /   Comments

Nigerian-Stock-Exchange-(NS

The Chief Executive Officer of the Nigerian Stock Exchange, NSE, Mr. Oscar Onyema, has said that high number of fringe players among stockbroking firms in Nigeria has continually rendered the brokerage firms unattractive for foreign partnership.

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IMF’s 2014 financial access survey debuts, considers mobile money indicators

  /   in Business   /   Comments

Mobile Money

The International Monetary Fund(IMF) has announced the release of its financial access survey which included global financial inclusion and introduction of data on mobile money indicators.

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Africa offers high rate of ROI —Dangote

  /   in Business   /   Comments

Aliko Dangote

The President/Chief Executive, Dangote Group, Aliko Dangote, has said that Africa offers one of the highest rates of return on investment in the world, a fact that discerning foreign investors have since acknowledged.

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Relocate tank farms to reduce convergence of fuel tankers, LCCI urges FG

  /   in Business   /   Comments

Standstill at Mile-2 to Tincan, along Oshodi-Apapa expressway yesterday. Photo: Joe Akintola, Photo editor.

The Lagos Chamber of Commerce and Industry, LCCI, has urged the Federal Government to relocate the tank farms to reduce the convergence of fuel tankers on the Apapa corridor.

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How loan applicants can access N5bn CAP Fund — BoI

  /   in Business   /   Comments

Cassava farm

By FRANKLIN ALLI & PROVIDENCE OBUH The Bank of Industry, BOI, weekend, launched N5 billion Cottage Agro Processing (CAP) Fund.Mr. Rasheed Olaoluwa, the Managing Director of the bank, said that existing operators in the sector as well as prospective young Nigerians who want to go into farming can take advantage of the fund to establish

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Our reduced rates attracted compliance — LASAA boss

  /   in Business   /   Comments

George Noah

In a chat with the Chief Executive of the Lagos State Signage and Advertising Agency, LASAA, Mr. George Noah, he discussed several issues in the signage industry and the effort of the agency at making sure practitioners in the Out-of-Home, OOH industry and signage users are not strangled by its regulation, thereby providing a level playing ground for the parties Princewill Ekwujuru records

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FESTAC Phase II concession to earn FG N30bn, deliver 50,000 houses

  /   in Business   /   Comments

Gooluck Jonathan Estate in Abuja. (Credit Channels)

The agreement to concession the reclamation and infrastructure development of the second phase of FESTAC Town in Lagos to a consortium of private developers is expected to lead to the delivery of 50,000 housing units and earn the Federal Government N30 billion over a 30-year period

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Interswitch acquires majority stake in Paynet

  /   in Business   /   Comments

atm2

Interswitch Transnational Holding, a pan-African integrated payments company has acquired a majority shareholding in Paynet Group, an East African multi-institutional payments provider.

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Transcorp Hotels approves NSE listing, IPO

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

The Board of Directors of Transcorp Hotels Plc(formerly Transnational Hotels and Tourism Services Limited) THP has endorsed plans to conduct an Initial Public Offering (IPO) and list the company’s shares on the Nigerian Stock Exchange, NSE.

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Regulators must protect consumers by firm and fair regulations — Loremikan

  /   in Business   /   Comments

Shina-LOREMIKAN

Shina LOREMIKAN is a seasoned human and workers’ rights activist who has struggled on social-based issues, including democratic and constitutional processes, for over two decades alongside prominent civil rights activists such as Barrister Femi Falana and the late Dr. Beko Ransome-Kuti, etc.

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I threw away SIM cards worth millions of Naira — Tobi-Williams Dimoji

  /   in Business   /   Comments

Tobi-Williams  Dimoji

He has never done anything else but business. His experience traversed from tel e-communications to shipping and now publishing, properties and computers.
Okey Tobi-Williams Dimoji is popular in his line of business with headquarters in Anthony Village , Lagos where a street is named after him.

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Nigeria needs better enforcement against fake, unregistered products — Emeka Ajoiyi

  /   in Business   /   Comments

Mr. Emeka Ajoiyi

Mr. Emeka Ajoiyi is the Country Manager, Inbisco Nigeria Limited, the commercial arm of Mayora Group. Noted for his remarkable business inclinations which came to light at a very young age, Ajoiyi was determined to reach the skies.

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Effective strategies and techniques of risk profiling of a company

  /   in Business, News   /   Comments

TAX

Risk profiling can be defined as an evaluation of an individual or organization’s willingness to take risks, as well as the threats to which a company or organization is exposed.

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Eshoppaz unveils  gospel singer, Buchi as brand ambassador

  /   in Business 9:00 pm   /   Comments

buchi4

Eshoppaz,Nigeria’s fastest growing online retail store who recently launched it platform in march 2014, has been making tremendous progress in its activities and making e-commerce in Nigeria healthy and risk-free.

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Customs boss in smugglers forest

  /   in Business   /   Comments

The Customs Area Controller (CAC), Oyo/Osun Command of Nigeria Customs Service (NCS), Mr. Oteri Richard, in front leading other Customs officers into Agbaja forest, during inspection of the seizures of 40 vehicles loaded with rice, intercepted in the forest by his Command.

Days after the Federal Government unfolded a policy to stop rice importation into Nigeria in the next four years, the tempo of rice smuggling in the country has taken a different dimension

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‘FG’s 70% duty on imported cars will trigger hardship’

  /   in Business   /   Comments

Alhaji Jimoh Aremu

Alhaji Jimoh Aremu is a dealer in all kinds of German, Japanese and American vehicles. In this interview conducted by telephone from the United States, the auto merchant admonishes the Federal Government to rescind its decision on the new policy that requires vehicle dealers, who do not manufacture locally, to pay 70 per cent duty on imported cars. He maintains that the policy will continue to attract public outcry and, worse still; it will affect the nation economically and keep lots of Nigerians out of job.

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NIHOTOUR decries lack of training hotel

  /   in Business   /   Comments

A Director in the National Institute for Hospitality and Tourism (NIHOTOUR), Alh. Abdul Maji Sheriff, has called for proper funding of the institute to enable it fulfill its mandates.

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CBN retains MPR at 12%

  /   in Business 2:53 am   /   Comments

New CBN Governor— From left, new CBN Governor, Mr Godwin Emefiele, his deputies, Sarah Alade and Adebayo Adelabu during a World Press Conference in Abuja, yesterday. Photo: Gbemiga Olamikan. See story on Page 8

The Central Bank of Nigeria, CBN, yesterday, retained the Monetary Policy Rate, MPR, at 12 per cent with a corridor of +/- 200 basis points around the midpoint.

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Molit brings international standard home

  /   in Business   /   Comments

satmolit-2

Hotels, guest houses serve different purposes for differnt results especially in modern society like ours.

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We are not left out in global trend of development—Tecno

  /   in Business   /   Comments

Tecno-pad

As battle for supremacy in the mobile phone market intensifies, Tecno mobile says it’s not left out in the global trend of unique brand development, affordability and improvement, as it plans to build plant in Nigeria in 2015.

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Glo Xchange moves town hall meetings to Onitsha, Warri, Kano, other cities

  /   in Business   /   Comments

entrepreneurs

Globacom, in partnership with four partner banks, First Bank, Ecobank, Stanbic IBTC and Zenith bank recently moved its on-going Glo Xchange Town Hall orientation programme to five more cities in the country.

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Grenada eyes mutual trade ties with Nigeria

  /   in Business   /   Comments

naira-Dollar

Special Advisor to Ambassador Peter De Savary of Inward Investment, Grenada, Richard Hallam has disclosed his country’s readiness to establish a mutual trade ties with Nigeria noting that the relationship would give both countries the opportunity to share and benefit from trade and commerce agreement.

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