Saturday August 23rd, 2014
Saturday August 23rd, 2014
Latest

Nigeria, Indonesia trade hits $588 million

  /   in Business 12:12 am   /   Comments

naira-Dollar

Director, Indonesian Trade Promotion Centre (ITPC), Mr. Pontas Tobing has disclosed that the total trade volume between Nigeria and Indonesia on non oil and gas transaction amounts $588 million US dollars, with 26.8 per cent growth trend.

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Latest

Glo boosts cashless policy, financial inclusion with Glo Xchange

  /   in Business   /   Comments

Point of Sales, POS, facilities

Globacom, Nigeria’s national telecommunications carrier is boosting cashless policy and financial inclusion with the launch of Glo Xchange, a Mobile Money Agent Network that is aimed at accelerating mobile money revolution and financial inclusion in the country.

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Latest

Govts, companies raise N53.48bn from NSE bonds market

  /   in Business 1:04 am   /   Comments

File photo: The  floor of Stock exchange

Some state governments and quoted companies raised N53.48 billion from the bonds market of the Nigerian capital market in the first seven months of 2014.

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Latest

Custom intercepts 15 bags of ammunition in Ogun

  /   in Business   /   Comments

Arms-n-Ammunition-uche

The Ogun State Command of the Nigeria Customs Service (NCS) has intercepted 1,480 cartridges of live ammunition concealed in 15 bags of rice from smugglers along the Abeokuta-Igboora bush path.

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Latest

Agents petition Shippers Council over APMT operational deficiencies

  /   in Business   /   Comments

FPSO Vessel

By Godfrey Bivbere The National Council of Managing Directors of Licensed Customs Agents NCMDLCA, have petitioned the nation’s port economic regulator, the Nigerian Shippers Council, NSC over deficiencies in the operation of APM Terminals that is resulting in irregular cost on importers. In the petition signed by the Deputy National President of the council, Uchu

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Latest

‘You must impact on the economy positively’ – BPE tells Shippers’Council

  /   in Business   /   Comments

ship

BY GODWIN ORITSE The Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki, has tasked the Nigerian Shippers Council (NSC) to uphold international best practice if the Council must succeed in its new role as economic regulator of the ports. Dikki also said that  as the economic regulator, the Council has

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Latest

FG approves N31.2bn electricity evacuation contract for Kashimbila Dam

  /   in Business   /   Comments

electricity

The Federal Government has awarded a N31.2 billion contract for the evacuation of electricity from the 40-megawatts capacity Kashimbilla Dam in Takum local government area of Taraba.

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Latest

Airtel introduces N200 Monthly bundles for Social Media Platforms

  /   in Business 9:17 pm   /   Comments

Gold-plated-iphone-2

In line with its key objective of becoming Nigeria’s number one mobile Internet Company, leading communications services provider, Airtel Nigeria, has introduced affordable Internet bundles that will empower telecoms consumers to connect with friends, family members and business associates on key social media platforms.

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Latest

Multiple taxes: Traders stage peaceful protest in Abuja

  /   in Business   /   Comments

Hundreds of traders in Abuja on Thursday staged a peaceful protest against imposition of multiple taxes on them by Abuja Municipal Area Council (AMAC).

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Latest

Nigeria yet to benefit from $3trn AGOA programme– NACCIMA

  /   in Business   /   Comments

Agric-date-palm

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called for a reappraisal of Nigeria’s participation in the African Growth and Opportunity Act (AGOA), saying the country has not benefited much from the programme

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Latest

Banks charged to embrace digitalisation

  /   in Business   /   Comments

BANK

Banks operating in the country have been advised to fully embrace digitalisation as a way forward to woo customers and thus improve their profitability.

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Latest

Forte Oil to upgrade Geregu Power with N14.40bn investment

  /   in Business   /   Comments

electricity

Forte Oil Plc has disclosed plan to commit N14.40billiion (about $90 million) in overhauling its recently acquired Geregu Power Plant, GPP, to fully achieve the 414 mega watts installed capacity of the plant.

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Latest

CBN confirms banks’ compliance on Anti-Scheming devices on ATMs

  /   in Business 8:09 am   /   Comments

atm2

The Central Bank of Nigeria, CBN has confirmed more than 90 per cent of the banks operating in the countryhave complied with its directive to install Anti-Scheming devices on their Automated Teller Machines, ATMs.

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Latest

The rhythm of beats show forth in my design

  /   in Business   /   Comments

women-in-business-pix-1

Rahima Mohammed, Founder, Raaah London, is a remarkable African fashion designer that is ready to reach the skies with her exquisite designs. The Zimbabwean started designing at the age of twenty and took it a step further by studying fashion drawing at the London College of Fashion.

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Latest

Electronic fraud: banks need collaboration — Kuru

  /   in Business   /   Comments

atm2

Following the rising incidents of Electronic Fraud (e-Fraud) in the financial sector of the economy, the Managing Director/Chief Executive Officer of Enterprise Bank Limited, Mallam Ahmed Kuru, has called on banks to establish anti-fraud departments as a way of curbing the menace.

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Latest

Social engineering through Lagos State civilian governors

  /   in Business   /   Comments

Lagos-Island-CBD

The very large numbers of people living in Lagos State requires that we must always ensure that our social infrastructure is effective, that the social infrastructure does not suffer from non-application of resources and that the social infrastructure is not overwhelmed by the numbers of its users. How would one rate social infrastructure in Lagos today and why should I be concerned about infrastructure matters?

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Latest

Brazil now highest buyer of Nigeria’s crude

  /   in Energy 3:05 am   /   Comments

CRUDE-OIL

Brazil has overtaken India as the largest buyer of Nigeria’s crude oil, spending $990.09 million, about N158.414 billion on the purchase of crude oil from Nigeria.

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Latest

Genesis Electricity wins 2014 Africa Utility award

  /   in Energy   /   Comments

electricity

Genesis Electricity Ltd, GEL, has been declared the African Power Utility of the year at the Africa Utility Week Awards.

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Latest

Flaring must be unattractive for total flare out

  /   in Energy   /   Comments

gas-flaring

To put an end to the recurring issue of gas flaring in Nigeria’s oil and gas sector, the Federal Government should make the practice unprofitable by enforcing stringent penalties against defaulting companies.

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Latest

Collaboration, key to sustaining independent operations in Nigeria

  /   in Energy   /   Comments

economy

Given the technical capacity and huge funding required, there is the need for collaboration between Nigerian independents and the multinationals to sustain operations in the sector, the Managing Director of Seplat Petroleum Development Company, Mr. Austin Avuru, has said.

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Latest

TUC slams proposed new cement policy

  /   in Business   /   Comments

cement

Umbrella body for senior staff association in the country; the Trade Union Congress of Nigeria, TUC, has cautioned the Federal Government on the proposed new cement standardisation policy, arguing that its implementation could lead to loss of jobs for thousands of workers in the cement sub-sector.

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Latest

Nigeria missing from global coal output

  /   in Energy   /   Comments

File Photo

Despite the enormous deposits of coal in the country, Nigeria is not yet reckoned with in the global coal production and consumption, as the Statistical Review of World Energy 2014, made no mention of the country’s coal potential.

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Latest

Power minister warns against inter-agency rivalry

  /   in Energy   /   Comments

The Minister of State for Power, Mr. Mohammed Wakil, has warned agencies within the ministry against infighting and confrontations, advising that “only collaboration and positive interface can speed up attainments of the goals of the power sector reforms.”

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Latest

Agric value chain is long, can employ over 60% of Nigerians — Onyeani Nwosu

  /   in Business 8:28 am   /   Comments

Onyeani-Nwosu-farm

Mr. Onyeani Uka Nwosu is the Chairman/Chief Executive Officer of Abia State-based Green Town Farms, a farming business based on professional research. In this chat with Financial Vanguard, Nwosu says farmers can only break even when they mechanise the processes. He urges government at all levels to do more for the sector, noting that if only a small percentage of money spent on the oil and gas sector is spent in agriculture, Nigerian economy will burst

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Latest

Video-on-demand to fill need for faster, reliable internet — Aflix

  /   in Business   /   Comments

Hollywood mobile streaming service, Aflix which launched in Nigeria and two other African countries last week, has said that it foresees video-on-demand filling the need for faster and reliable internet service and driving the Internet market to support industries such as Aflix which is specialised in streaming Hollywood content via Smartphones.

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Latest

The realistic path to economic prosperity

  /   in Business, Rational Perspectives   /   Comments

Naira note

Our parlous economic state has been attributed by some observers to our heavy dependence on increasing oil revenue and our inability to stimulate the performance of our industrial and agricultural subsectors, particularly the small and medium enterprises and thereby, also diversify the productive sectors of our economy

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Latest

CBN gives banks Dec 31 deadline on funds transfer status

  /   in Business   /   Comments

cbn

The Central Bank of Nigeria, CBN has given banks operating in the country up to December 31, 2014 to achieve “Highly Secured Online Funds Transfer” status.

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Latest

We’ll enhance national savings, participation in capital market — Okumagba

  /   in Business   /   Comments

Nigerian-Stock-Exchange-(NS

The newly elected President of Chartered Institute of Stockbrokers, CIS, Mr. Albert Okumagba is  a proven technocrat, an astute financial services professional and a strong advocate of good governance. HE is the Group Managing Director/Chief Executive Officer of BGL Plc. He is also the Chairman of BGL Securities Limited, BGL Asset Management Limited, BGL Private

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Latest

Vocation and technical education — a key to improving Nigeria’s development (part 3)

  /   in Business   /   Comments

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

An entrepreneur is a person who makes plans for a business or a piece of work and gets it going. Anyanwuocha (2001) observes that the entrepreneur is the chief co-ordinator, controller and organiser of the production process. The entrepreneur combines other factors of production (land, capital and others) in such a way as to obtain maximum production of goods and services at minimum costs.

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Latest

Tax audit and minimum tax computation

  /   in Business   /   Comments

TAX

Taxation, worldwide, constitutes a major source of revenue to governments for funding their capital and recurrent expenditures.

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Latest

Washist.com takes dry-cleaning online with N8m investment

  /   in Business 8:48 pm   /   Comments

Nigeria’s tech entrepreneur, Femi Taiwo has said that his new start-up firm, Washist.com has invested $50, 000, about N8 million to provide laundry services through the internet.

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Latest

When will Nigeria gain economic freedom?

  /   in Business   /   Comments

economy

`The disclosure on Thursday last week that Nigeria is now importing Low Pour Fuel Oil (LPFO) is, to say the least, alarming. The way the country is going, very soon Nigeria will be importing water that is abundantly available in the country. Nigeria in the recent past used to export LPFO to generate foreign exchange.

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