*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.

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.

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.

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.