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    Umuchinemere MFB disburses N248mn in Q1 2016

    Umuchinemere Pro-credit Micro Finance Bank (UPMFB) said it has disbursed N247.72 million micro credit fund to 796 active poor people in Enugu State in the first quarter of 2016. The bank also said that the amount disbursed in the period under review was below its planned budget for disbursement, while attributing it to high cost of living that affected virtually all business activities in the country.

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    Business

    Why do I need a business plan?

    Do you want to expand your business, be more competitive in your industry or achieve certain goals? If you answered yes to any of the above, you need a business plan! Whether you’ve just started out or been running for years, business planning can be the key to your success. We’ve laid out three key reasons why you need to get started on your business plan today:

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    black market

    Markets react to petrol market liberalization

    Financial markets across segments have reacted to the quantum increase in the price of petrol with foreign exchange rate and petroleum stocks in the upbeat while money market rates moved in mixed direction. In the foreign exchange market the Naira extended its losses against the US Dollar on Friday following continued demand pressure which had started a day earlier on the heels of the pump price adjustment closing at N350/ USD1, bringing its total depreciation to 7.7 per cent in the first two trading days after the pump price adjustment.

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    Naira Debit Cards: Banks protest EFCC harassment over forex rates

    Banks have protested to the Central Bank of Nigeria (CBN) the harassment of their staff by the Economic and Financial Crimes Commission (EFCC) over foreign exchange rates charged for cross border transactions on Naira Debit Cards (NDC). Cross border transactions are payment for goods and services or cash withdrawal through ATM outside the country through debit cards linked to naira account in Nigeria.

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    Niger State FADAMA III Coordinator, Alhaji Mohammed Vatsa (Middle), Assisted by Managing Director, Contec Global Agro LTD, Thomas Chackunkal (third right),  and Niger State State Coordinator of AGAN, Iliyasu Hussaini (2nd right), doing the ceremonial flag-off of harvest of rain-fed rice grown using bio-fertilizers and bio-pesticides.

    Developer to use rice straw for housing development

    A property development company, Bohemian Estate Limited, has revealed plans to deploy a technology that uses rice straw for housing development in Nigeria, with a $250 million subvention from Czech Export Bank. The company is to embark on the project in collaboration with the Federal Mortgage Bank of Nigeria (FMBN) for the construction and delivery of the first phase of 10,000 housing units in Gwagwalada using Assembly Building Block (ABS) technology.

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    File: insurance

    Africa accounts for only 1.4% of world insurance premium- AIO

    The African Insurance Organisation, AIO, has decried the low level of insurance penetration in Africa, saying that the continent can boast of only about 1.4 per cent of total world premium. President of AIO, Mrs. Lamia Ben Mahmoud who made the assertion at the 43rd Conference and Annual General Assembly of the AIO in Marrakech, Morocco last week noted that there is clear predominance of developed countries on the insurance market.

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    buhari-Naira

    OPS blames 74% drop in FDI on monetary policies

    The Organised Private Sector, OPS, weekend, blamed drop in foreign investments into the country in the first quarter of 2016 on government’s monetary policies. Recall that analysts at Capital Economics, last week, reported that the flow of foreign capital into Nigeria was $711 million in the first quarter of 2016 – a whopping 74 percent drop from a year before.

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    Transcorp

    Transcorp Plc: Expanding for optimal shareholders’ return

    In a bid to enhance returns for its shareholders in keeping with its mission of creating sustainable value for its stakeholders, Transnational Corporation of Nigeria, Transcorp, Plc, is embarking on various expansion initiatives. Presently, the company has made major acquisitions in power and agribusiness, coupled with new initiatives in its hotel and tourism business and the on-going exploratory activities from its existing oil block . Investment analysts are of the opinion that the various expansion projects will translate to improved financial fortune in the medium term.

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