Sunday February 1st, 2015
Sunday February 1st, 2015
Latest

NHF monthly collections up by 250% to N2.4bn

  /   in Finance 12:58 am   /   Comments

1000-naira-notes

The National Housing Fund (NHF) collections from over four million subscribers nationwide has increased by about 250 percent to N2.4 billion monthly from N700 million.

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FG to begin piping of products to ease Apapa traffic

  /   in Finance   /   Comments

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

Federal Government has said that it will commence piping of petroleum products from the Lagos port to major depots across the country as part of efforts to decongest the perennial traffic situation in the port city of Apapa in Lagos.

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Vocation and Technical Education – A key to improving Nigeria’s development. Part 4

  /   in Finance   /   Comments

*Some of the items donated to graduates of the centres.

The focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT.) driven technological environment. The world has become globalized and the future prosperity depends on comparative advantage.

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NDIC grants further reduction in insurance premium for banks

  /   in Finance   /   Comments

insurance-pix

The Nigeria Deposit Insurance Corporation (NDIC) has further reduced the deposit insurance premium rate to all Deposit Money Banks (DMBs) in Nigeria as part of efforts toward contributing to financial system stability and promoting public confidence in the banking industry.

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CBN introduces measures to curtail international card frauds

  /   in Finance   /   Comments

CBN Headquarters

The Central Bank of Nigeria (CBN) has introduced measures to curb the rising incidence of international overseas card fraud against Nigerians.

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Tax Clearance Certificate (TCC), Due Dates for Filing Returns…

  /   in Finance   /   Comments

market-2

Over the years, questions have been raised on issues regarding Tax Clearance Certificates (TCC), due dates for filing returns, accounting year, accounting period and other tax related issues. The following questions and answers seek to shed some light on these matters.

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AfDB, MasterCard broaden financial inclusion in Africa

  /   in Finance   /   Comments

Africa

African Development Bank (AfDB) and MasterCard have announced a broad collaboration that aims to expand financial inclusion across the African continent. The collaboration seeks to develop solutions that drive inclusive growth in Africa by broadening access and usage of digital financial services.

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Electricity metre manufacturers urge DISCOs to source pre-paid metres locally

  /   in Finance   /   Comments

prepaid-meters

Two indigenous pre paid meter manufacturers have appealed to the Federal Government to prevail on Electricity Distribution Companies (DISCOs) to promote locally manufactured pre-paid meters. They made the appeal in Lagos against the backdrop of approval of funds for the procurement of one million electricity meters by the Federal Government.

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Carmudi mulls partnership with FRSC, others to combat online fraud ….Unveils Android App

  /   in Finance   /   Comments

*FRSC-boss, Ositadinma-Chido

Online car marketplace, Carmudi.com has said it is considering a partnership with the Federal Road Safety Commission, FRSC and security agencies to prevent any form of fraud especially as related to the auto marketplace in Nigeria.

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Capital market operators task govt to fund infrastructure via capital market

  /   in Finance   /   Comments

market-2

The Chartered Institute of Stockbrokers, CIS has charged government in the various tiers to use the Nigerian capital market to fix infrastructural deficit in the country.

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PCI DSS recertifies FirstBank

  /   in Finance   /   Comments

FirstBank has achieved the recertification of the Payment Card Industry Data Security Standard (PCI DSS) in 2014, having been one of the first top-tier banks in Nigeria to obtain the certification in 2013. The certification is renewable annually as demanded by the standard and regulators following a rigorous audit of the Bank’s payment card security processes environment.

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OTC Market: Stanbic IBTC, BGL, 14 others account for 93.6% of trade

  /   in Finance   /   Comments

naira sign

As the NASD Over the Counter, OTC Market activity continues to rise, about 15 participating institutions in the market have accounted for 93.8 per cent of the trade done in the year 2014 Of the 86 participating institutions, 37 had traded on the NASD OTC market by the end of 2014. The top 5 traders accounted for 62.9 per cent of total market activity.

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Naira hits N208 to dollar at BDCs, black market

  /   in Finance   /   Comments

naira-Dollar

The Naira on Friday depreciated against the dollar as it traded at N208 from the N191.50 it sold for on Monday, Jan. 19. The new rate has made the naira to lose N16.50 within five days. The CBN’s website, however, put the Naira against the dollar at N167.50, while the Pound sold for N253.20 and the Euro stood at N193.89S

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CBN introduces measures to curtail international card frauds

  /   in Finance   /   Comments

Emefiele

The Central Bank of Nigeria (CBN) has introduced measures to curb the rising incidence of international overseas card fraud against Nigerians.

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Latest

Duty waivers threaten local production

  /   in Finance 2:01 am   /   Comments

A fully loaded truck in one of the inland dry ports in the sub-region, will be delayed, harassed for bribes by the numerous security agents along the region’s transport corridor before it gets to its destination.

Operators in the rice and palm oil sectors of the economy have cried out that their investments and the Transformation Agenda of the Federal Government on palm revitalisation in the Agricultural sector are being threatened by imports allocation and duty waivers granted to some companies in the sectors.

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Latest

Rents crash by 50% as businesses, individuals relocate

  /   in Business, Finance 2:04 am   /   Comments

market-2

The persistent traffic gridlock along the Apapa – Oshodi Expressway has forced mass relocation of businesses and individuals out of Apapa, causing property rents to crash by 50 percent.

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Latest

Vocation and Technical Education – A Key to improving Nigeria’s Development PART 4

  /   in Finance   /   Comments

The Caring Heart Market initiated as part of Mimiko's community development programme

The focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT.) driven technological environment. The world has become globalized and the future prosperity depends on comparative advantage.

Read More →
Latest

Turkish firms seek more investments in Nigeria

  /   in Finance   /   Comments

Lagosmarket

Turkish companies are seeking to expand their investments in Nigeria and other African countries through franchising.

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FG must give greater incentives for local production — Agbakoba

  /   in Finance   /   Comments

*Some varieties of the yellow cassava and their products being displayed.

Senior Advocate of Nigeria, SAN and former President of the Nigerian Bar Association, Olisa Agbakoba has said that the federal government must give greater incentives to local industries to ensure growth in the production.

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E-commerce: Nigerians decry dearth of legislations

  /   in Finance   /   Comments

Unlike the Stock market, Forex trading is Online

Nigerians have expressed concerns over the lack of enabling laws for the protection of personal information provided for online businesses.

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Delta needs sustainable economic blueprint —Okonta

  /   in Finance   /   Comments

Lagosmarket

A Chartered Accountant and former Chairman Institute of Chartered Accountants of Nigeria, lCAN, Abuja District Chairman, Chief Fred Okonta, has urged relevant stakeholders and leadership in Delta State to pursue a strategic programme that could lead to the development of sustainable economic blueprint for Delta State.

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Minimum capital: Fresh dialogue underway over implementation

  /   in Finance   /   Comments

Naira notes

There are indications that the Securities and Exchange Commission, SEC may soft-pedal on the implementation of new minimum capital base for capital market operators following the change of leadership in the commission.

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How partnership, effective communication drive brand loyalty

  /   in Finance   /   Comments

File: Traffic gridlock on Apapa/Oshodi express road, due to slow construction job of the road by Julius Berger and commuter spent sever hours on the road. Photo: Bunmi Azeez

The success of many global brands that are household names today is possible because they mastered the art of creating highly attractive partner and customer value propositions. Brands, through effective communication have endeared themselves to consumers and increased their market share.

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LCCI flays budgetary provision for petroleum products subsidy

  /   in Finance   /   Comments

Oil Installation

Lagos Chamber of Commerce and Industry, LCCI, said weekend, there’s no justification for budgetary provision by the Federal Government for petroleum products subsidy.

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Sona Agro calls for ban on importation of biscuits, others

  /   in Finance   /   Comments

The market after re-opening

Sona Agro Allied Foods Limited has called on the federal government to ban importation of biscuits and other snack products.

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Telecom glitches: Consumers lose heavily despite tariff crash

  /   in Finance   /   Comments

Naira notes

Telecommunications consumers in the last few months to the end of 2014 experienced deluge of poor service which trickled down to the early part of 2015.

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We’ve not withdrawn MTEF – FG

  /   in Finance   /   Comments

money1

The Minister of Finance and the Coordinating Minister of the economy, Dr. Ngozi Okonjo Iweala, has denied a report in the media which stated that the Ministry had withdrawn the medium term expenditure framework, MTEF from the National Assembly.

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AfDB, CSOs partner to enhance development in Africa

  /   in Finance   /   Comments

money

The African Development Bank has initiated a partnership with Civil Society Organizations (CSOs) aimed at enhancing development in Africa.

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Crude oil price fall will force economic restructuring —Agbaje

  /   in Finance   /   Comments

File photo

By Babajide Komolafe The sharp decline in the price of crude oil will force policy makers in Nigeria to restructure the economy. Senior Consultant/Chief Executive Officer, RTC Advisory Services Limited, Mr. Opeyemi Agbaje said this, while speaking at a forum titled: “Review of 2014 and Projections for 2015,” organised by the Finance Correspondents Association of

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Banks earn N27.76bn from deposits placed with CBN

  /   in Finance   /   Comments

money1

In the third quarter of last year, “Total request for the standing lending facility (SLF) granted during the review period was N327.38 billion with total interest earned amounting to N175.31 million, compared with the total request of N198.19 billion and total interest of N93.89 million in the preceding quarter.

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Discovery Air suspension: Passengers to get 25% rebate

  /   in Finance   /   Comments

*Airport

DiscoveryAir Airline has said that the affected passengers on cancelled December 24th and 25th flights will be given a refund and 25 percent rebate on subsequent trips with the airline.

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Enhancing VAT voluntary compliance

  /   in Finance   /   Comments

Naira notes

The operation of the tax law is universally administered. Every person (corporate or individual) is a taxable entity no matter how, when and what method is used to conduct the business.

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