Vanguard News » Finance

Nigeria’s high import of finished goods hurting economy

mbgolu — Sun, 05 Feb 2012 23:30:17 +0000

Nigerians have continued to spend the nation’s foreign reserves in the importation of finished consumer products that could be sourced locally if efforts are made to patronize made in Nigeria products.

Interbank records N301bn net outflow in January

mbgolu — Sun, 05 Feb 2012 23:10:31 +0000

The interbank money market recorded net outflow of N262 billion in January even as oil firms boosted foreign exchange supply with $1.1 billion.

NSE market capitalisation dips by N4.7bn

mbgolu — Sun, 05 Feb 2012 23:10:00 +0000

Trading on the Nigerian Stock Exchange, NSE witnessed a slight drop last week as the value of listed equities represented by the market capitalisation dipped by N4.73 billion.

Boko Haram: Churches, Mosques may be required to insure property

mbgolu — Sun, 05 Feb 2012 23:08:04 +0000

Churches and mosques in Nigeria may soon be required to produce evidence of having their premises and property insured in the wake of spate of attacks by the Boko Haram sect.

NEXIM set to fund Nigerian Exporters with N30 billion

mbgolu — Sun, 05 Feb 2012 23:05:38 +0000

Nigeria Export-Import Bank, NEXIM has earmarked N30 billion to support Nigerian exporters, just as it plans to float a shipping line to facilitate business between Nigeria and other Africa countries. NEXIM Managing Director, Mr. Roberts Orya appearing before the Senate Committee on Banking, Insurance and other Financial Institutions in Abuja also disclosed that the bank will soon float a shipping line to provide platforms for Nigerian exporters to do their businesses.

NICON lands suspension for failing to appear before NIA Bureau

mbgolu — Sun, 05 Feb 2012 23:05:28 +0000

By ROSEMARY ONUOHA
NICON Insurance Plc has been suspended from the Nigerian Insurers Association, NIA, after refusing to appear before the Customer Complaint Bureau of the association.

Chairman of NIA, Mr. Olusola Ladipo-Ajayi who announced the suspension during a media parley at the NIA secretariat in Lagos last week stated that the company remains [...]

Nigeria can earn $100 million per year through motor sport – Ribi Adeshokan

mbgolu — Sun, 05 Feb 2012 23:00:55 +0000

Nigeria: Good People, Great Nation’ was a slogan coined by the Federal Ministry of Information in its bid to positively project Nigeria’s image to the world and attract foreign direct investments in the process. But the Nigerian situation needed more than mere rhetoric and one man chose to take the proverbial bull by the horn by bringing in a sport hitherto the exclusive preserve of Europeans, Americans and Asians.

‘Songhai Farm will enable over 50,000 farming youths in Katsina’

mbgolu — Sun, 05 Feb 2012 23:00:51 +0000

Katsina State is about joining some states like Delta and Rivers that have keyed into the Songhai farm philosophy as it is set to establish such farm in the three senatorial districts of the state.

Alhaji Ibrahim Shema, the state governor, has entered into talks with the management of Songhai farm in Benin Republic. In [...]

Senate seeks input on social housing

mbgolu — Sun, 05 Feb 2012 23:00:51 +0000

The upper chamber of the National Assembly, the Senate, has called for inputs from individuals and groups that will facilitate the formation of an effective social housing policy for the country.

Why Benue budget will raise standards

mbgolu — Sun, 05 Feb 2012 23:00:32 +0000

Mr. Omadachi Oklobia is the Benue State Commissioner for Finance. In this interview, he spoke on various economic issues including policies and programmes of the Suswam-led administration in the state.

Another look at dollar sharing of federal allocation

ojiego — Sun, 29 Jan 2012 23:37:13 +0000

The idea was part of the Strategic Agenda for the Naira announced by the CBN in 2007, which was abruptly aborted. But before then, it had long being advocated by Les Leba, a columnist in Vanguard Newspaper whose real name is Henry Boyo, the Managing Director Chief Executive Allied Technologies.

Ogun State budget up by 61%, capital expenditure hits N110bn

ojiego — Sun, 29 Jan 2012 23:30:07 +0000

The Ogun State Government is to spend 55 per cent of its budget in 2012 on capital projects. This represents an 18 per cent increase in the allocation for the previous year. The state Commissioner for Budget and Planning, Mrs. Oluwande Muoyo gave the breakdown during a breakdown session on the budget to major stakeholders in the state capital, Abeokuta.

‘Lagos committed to providing effective mortgage system’

ojiego — Sun, 29 Jan 2012 23:00:46 +0000

Lagos State government has reiterated its commitment to putting up an effective mortgage scheme that will ensure that low income earners in the state can afford their own homes.

CBN: Bank customers won’t pay for using PoS

mbgolu — Mon, 23 Jan 2012 00:11:44 +0000

Bank customers will not pay charges for using Point of Sale (PoS) machines, the Central Bank of Nigeria (CBN) has said.

Housing: Lagos earmarks N43bn for ‘rent-to-own’

mbgolu — Mon, 23 Jan 2012 00:10:12 +0000

Lagos State government earmarked N43 billion in the state’s 2012 budget to tackle the problem of housing in Nigeria’s commercial nerve centre, through a rent-to-own option.