Thursday September 3rd, 2015
Thursday September 3rd, 2015

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Actis invests N5.9bn in Nigeria

  /   in Business, News 11:20 pm   /   Comments

Actis, a pan-emerging market investor said it has invested over $300 million (N5.91billion) in Nigeria to date, while it made an investment worth $3 billion in 23 other countries across the African continent. Actis’ previous and current investments in Nigeria include: Mouka Foam, owners of the Mouka Matress brand, Diamond Bank: one of Nigeria’s leading banks; Jabi Lake Mall: Abuja’s one-stop leisure, restaurant and retail destination; The Palms, the first ever international-standard diversified retail mall in Nigeria;

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Accion MfB rewards CIBN best graduating student

  /   in Business, Finance, News   /   Comments

Accion Microfinance Bank (AMfB) has rewarded Mr. Kotiko Okoye, Best Graduating Student in the Chartered Institute of Bankers of Nigeria Microfinance Certification Programme in line with its commitment to aid microfinance education. The award, which is part of a N2million endowment to the institute was presented at the CIBN Induction/Prize Giving Award Ceremony in Lagos.

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Textile sector seeks govt patronage as NEPC demand enabling environment

  /   in Business, Finance, News   /   Comments

Stakeholders in Textile Sector, weekend, called on the Federal Government to patronise made in Nigeria fabrics even as Nigerian Export Promotion Council (NEPC) called for an enabling environment for the sector to thrive. The stakeholders made the call at a One-Day Capacity Building Workshop organised by NEPC for stakeholders in the Garment and Apparel Sector on the “Opportunities in the Rising Global Market” in Lagos.

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Buhari’s economic policies’ review: Our concerns on manufacturing, agric, SMEs – Umoh, MAN chief

  /   in Business   /   Comments

Umoh-MAN

The move by the Federal Government to review the economic policies of the Jonathan administration to enhance job creation in the country has divided stakeholders in the economy.

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How China yuan’s devaluation will hurt Nigeria’s economy

  /   in Business   /   Comments

Naira-Dollar

China’s development decisions are critically important for Africa. In Lagos, Addis and Johannesburg, China’s surprise yuan devaluation has African analysts scratching their heads.

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Odogwu’s panacea for industrialisation

  /   in Business   /   Comments

Chief-Sunny-Odogwu-Intervie

Renown industrialist and enterprer, Chief Sonny Odogwu, the Ide Ababu of Asaba Kingdom, his advised the Federal Government to shop for foreign investors to help Nigeria harness our human and natural resources.

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How Nigerians can survive financial crisis — Lanre Olusola

  /   in Business   /   Comments

olushola

NUDGED by the increasing socio-economic inequalities in Nigeria, a Financial Expert and Premier Life Coach, Mr. Lanre Olusola in this interview, explains how both low and high income Nigerians can survive the current financial crisis. He also explains why he recently wrote a book, titled: The Money Book

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Nigerian economy remains huge opportunity for investors – Prof. Onalo

  /   in Business, News 12:20 am   /   Comments

Prof. Chris Onalo

A renowned academic in the Institute of Credit Administration, Professor Chris Onalo has disclosed that there are massive investment opportunities awaiting indigenous and foreign investors if the current administration would be proactive in matters relating to the nation’s economy.

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Nigerian Breweries unveil world biggest Gulder promo poster

  /   in Business, News   /   Comments

satbusphoto 1

The Sam Okpara Square, Enugu, last Monday, bubbled to life as it witnessed the first biggest Gulder brand promotion poster, measuring 5,367square metres which berth at the right end side of the mini sports centre from the main entrance. The colourful poster which was a cynosure of all eyes has already made its way into the Guinness world book of record as it beats the current record of 4.7m² achieved in Kochi, India on June 27, 2015.

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Nigeria’s annual tomato import bill now N16bn — Per Sec

  /   in Business 12:29 am   /   Comments

Tomatoes market

The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Arc. Sonny Echono, has disclosed that the nation’s annual import bill on tomato has increased to N16 billion.

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CBN, court approve Heritage, Enterprise Banks’ merger

  /   in Business 12:56 am   /   Comments

Emefiele CBN Governor

The Central Bank of Nigeria (CBN) has granted final approval for the merger of Heritage Bank and Enterprise Bank. Furthermore, the Federal High Court has sanctioned the scheme of merger and ordered the merger of both institutions.

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Nigerian economy slows in Q2

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Buhari

Growth in the Nigerian economy, Africa’s largest, slowed in the second quarter due to the slump in oil prices, the NBS office said.

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W/Bank to disburse $140m to 26 states for community devt

  /   in Business   /   Comments

world-bank

The World Bank is now set to disburse $ 140 million (about N29 billion) to 26 states in Nigeria and the Federal Capital Territory, under the Community and Social Development Project, CSDP.

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Latest

Banks in dilemma over idle $5bn deposits

  /   in Business 3:26 am   /   Comments

1000-naira-notes

LAGOS — Indications emerged, yesterday, that banks in the country are now in a dilemma on what to do with an estimated $5 billion that is currently idle in their vaults.

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Global insurance rates decline further

  /   in Business, News   /   Comments

File: insurance

Abundant insurance and reinsurance market capacity, assisted by the influx of alternative capital, coupled with a lack of large loss events, has contributed to a decline in global insurance rates for the ninth quarter running, according to analysts at Marsh.

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Latest

Why you should allow verification of your vehicle insurance certificate

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motor insurance

Henceforth, if you are driving within Lagos State and officials of the Ministry of Transportation or other law enforcement agents stop you to verify the authenticity and genuineness of your motor insurance certificate, please oblige them.

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Recent journeys between Lagos and Osogbo, Osun State

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SCARE—Traffic caused by the Boko Haram scare on Lagos -Ibadan Expressway, yesterday. Photo: Lamidi Bamidele.

I have made a few journeys recently between Lagos and Osogbo, Osun State. The outward leg of the journey from Lagos has been on the Lagos to Ibadan expressway, the Ibadan to Ile-Ife expressway up to Gbongan, Osun State and then on the Gbongan to Osogbo road while the return leg of the journey has been in the reverse order.

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Latest

NSE flags-off Premium Board with Dangote Cement, Zenith Bank admission

  /   in Business, News   /   Comments

File photo: The  floor of Stock exchange

The Nigerian Stock Exchange, NSE, yesterday kicked off a new listing platform, Premium Board and the associated Premium Board Index, with the admission of Dangote Cement Plc, FBN Holdings Plc and Zenith Bank Plc’s shares.

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Nigeria to host the Africa $33bn RemitAfrica2015 summit

  /   in Business, News   /   Comments

Nigeria-map

More than 200 delegates and 65 industry stakeholders from more than 25 countries are expected to attend the RemitAfrica2015 event in Lagos in December.

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NNPC boss calls for diversification of power generation

  /   in Business, News 8:41 pm   /   Comments

New NNPC Boss, Dr. Ibe Kachikwu

As part of measures to improve electricity supply across the country, Mr. Ibe Kachikwu, the Group Managing Director, Nigeria National Petroleum Corporation, NNPC, has called for the diversification of power generation in the country. He made this call at the Nigeria Association of Energy Correspondent, (NAEC) Conference 2015, held at Eko Hotel, Lagos recently.

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Cornerstone Insurance At Its Best

  /   in Business   /   Comments

Mr. Ganiyu Musa, GMD/CEO of Cornerstone Insurance Plc

In continuation with our special focus on the Insurance sector with a view to contribute towards the deepening of what is rightly believed to be a sector with one of the greatest potentials, we are focusing on General Insurance in this publication. The environment that prevails for Life subsists for General Insurance. Here there is also an amazing depth that is yet to be filled, a breadth that is yet to be covered. Asides the largest population, the highest GDP and the largest market in Africa, Nigeria equally has many active sectors of the economy, it has a most robust informal sector too. This entails that there are many firms and organizations both private and public as well as many individuals engaged in informal businesses.

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Latest

CBN sets up centres in North America, Asia, others to facilitate BVN registration

  /   in Business, News 2:51 pm   /   Comments

File: BVN registration

…Confirms payment of 30 pounds By Jonah Nwokpoku The Central Bank of Nigeria, CBN has named twelve approved centres across Europe, North America, Asia, Middle East and Africa to facilitate the Bank Verification Number, BVN registration exercise for Nigerian banks’ customers in the Diaspora. The approved centres include the ones in Washington DC, Atlanta, New York

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Capital inflow drops by 0.20% in 1st half

  /   in Business, News   /   Comments

Economy

The value of capitalimported into the country in the second quarter of the year stood at $2,666.36 million, representing a marginal drop of $5.24 million or just 0.20% quarter on quarter Capital importation thus remained relatively unchanged from the $2,671.59 million recorded in the opening quarter of 2015, suggesting that this new, lower level will be maintained as long as an uncertain economic environment remains.

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Latest

Araba cautions FG on proposed merger of aviation agencies

  /   in Business   /   Comments

aviation

Former Rector, Nigerian College of Aviation Technology (NCAT), Captain Adebola Araba has cautioned the Federal Government against merging the aviation parastatals saying it is against international practice to merge regulator, that is , Nigerian Civil Aviation Authority, NCAA, with the parastatals it is supposed to supervise.

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Govt should give us subvention, not tax us —Bello

  /   in Business   /   Comments

Microfinance interview pix

Mrs. Nadia Bashir-Bello, is the Proprietress of Bellina Schools (Bellina College, Nursery and Primary Schools). She is an astute, hardworking and forthright woman, a disciplinarian, lover of children and a professional educator.

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NCAA tasks information officers on accident reporting

  /   in Business   /   Comments

FRSC-accident

Director General of the Nigerian Civil Aviation Authority, NCAA, Captain Muhtar Usman has cautioned information managers and Public Relations officers at the country’s airports to do a critical review of information dissemination during accidents and incidents.

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Row over BOI’S N24.6BN for miners!Let bank chief, Olaoluwa, name money recipients – Ekozin

  /   in Business 12:30 am   /   Comments

Sonny-Ekozin

The revelation by the Managing Director of the Bank of Industry, Mr. Rasheed Olaoluwa, that his organization gave loan totaling N24.6 billion to the solid minerals sector has unsettled miners.

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Latest

Fidelity Bank supports home ownership with N115m

  /   in Business 12:56 am   /   Comments

Fidelity Bank Plc has earmarked N115 million to support Nigerians that desire to own new homes across the country through a new promotional campaign tagged, ‘Save 4 Shelter’ promo.

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Reclassification: SEC to deregister erring stockbroking houses

  /   in Business   /   Comments

The Securities and Exchange Commission, SEC, has warned that the registration of capital market operators that fail to meet up with the August 31, 2015 deadline for reclassification/reduction of their function or mergers and acquisitions will be cancelled by October 2, 2015.

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CPC begins Consumer Voice on TV

  /   in Business   /   Comments

market

The Consumer Protection Council (CPC), will begin a consumer education television programme today (Thursday) to equip consumers with the necessary skills for their market interactions.

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Skills development can create 10,000 jobs monthly —Ezeh

  /   in Business   /   Comments

*Pix. 4: Applicvants who could not find seats await further insatructions as others take seats to write the Nigeria Immigration Service examinations at the 60,000 capacity National Stadium, Abuja. Photo by Abayomi Adeshida

Early this month, Maximum Career Success International (MCSI) held a free seminar for the unemployed, people who are working but unsatisfied with their present jobs and students, in Lagos.

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Commonwealth Business Forum: Nigerians urged to exploit opportunities offered by anti-graft policies

  /   in Business   /   Comments

President Buhari at the Joint Base Andrews Airport in Washington, DC.

President Muhammadu Buhari is expected to lead Nigeria to the first forum of the Commonwealth Enterprise and Investment Council, CWEIC holding alongside the meeting of the Commonwealth Heads of Government, CHOGM in Malta in November.

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