There is discontentment among electronic payment providers over the implementation of the National Central Switch (NCS) by querying the model being used by the Nigeria Interbank Settlement System (NIBSS) to implement the NCS, especially the recent directives that all banks should connect to the switch.
Bank customers have, many times, experienced the frustration of not being able to use their debit or credit cards on ATM or POS, irrespective of the banks that issued the cards or the banks that own the ATM or POS. Consequently banks’ customers have had to carry many cards belonging to different banks or card scheme e.g. Interswitch, E-Transact, Valucard, Visa, MasterCard, etc.
Our Government and Organised Labour are once again for the umpteenth time in about five years embroiled in what may best be described as an unending petrol price control war, which was ignited over two decades ago with the drastic devaluation of the naira and increasing product prices. In his second term in office, former President Obasanjo floated the kite of deregulation to put an end to the endless attrition.
An expert on property development and Managing Director of Realty Point Limited, Mr. Debo Adejana, says Nigeria requires about N59 trillion to meet her housing needs.
The Akwa Ibom State government, in its bid to tackle envisaged housing problem arising from the expanding economy, has approved N26.95bn for the construction of about 2000 housing units in the state.
The Federal Mortgage Bank of Nigeria (FMBN) has commenced moves aimed at enhancing its capacity to support mortgage financing in the country, even as it embarks on debt recovery of its non-performing loans.
BUA Sugar Refinery Limited has hinted of its plans to increase its ownership structure, with the listing of its shares on the Nigerian Stock Exchange (NSE) in the near future.
Two companies, Cadbury Nigeria Plc, posted unimpressive bottom lines last week, as they both posted a combined loss after tax of N1.5 billion.
I will begin this week’s article with a reference and excerpt from veteran journalist, Bisi Lawrence’s piece titled “Oh to spray again” in Saturday Vanguard edition of 10/10/09. The indefatigable Bizlaw had failed after several attempts to take value for the money in various locations, from exquisite shopping malls to your regular petrol attendants and pepper sellers!
Worried by defaulting Issuing Houses to meet the regulatory requirement of mandatory firm underwriting of public offers in the Nigerian Capital market, the Securities and Exchange Commission is relaxing the rules and is replacing it with discretionary underwriting.
