Sunday April 20th, 2014
Sunday April 20th, 2014
Latest

Why Chams has not paid dividend in 6 years

  /   in Investors Forum 12:00 am   /   Comments

Unlike the Stock market, Forex trading is Online

Chams Plc, a company listed on the Information Technology of the Nigerian Stock Exchange, NSE, has attributed its inability to declare dividend over the last six years to restructuring and reformation projects it embarked upon during the period.

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Develop downstream operation, IPMAN charges members

  /   in Energy   /   Comments

The Independent Petroleum Marketers Association of Nigeria (IPMAN), the umbrella body of petroleum marketers, has directed its members to focus more on the sustainable revival of Nigeria’s petroleum downstream sector.

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Banks, others jittery over investments in power sector

  /   in Business 1:17 am   /   Comments

electricity-NIGERIA

There are strong indications that banks and other financial institutions are worried over the possibility of not being able to recoup their investment in the power sector.

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Latest

Breaking the Nigerian poverty cycle through entrepreneurial revolution (1)

  /   in Business   /   Comments

entrepreneurs

Nigeria is a country of absurd economic realities. The 13th largest crude oil producer in the world and the second largest economy in Africa earn an estimated $2.2 million a day in oil revenue.

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Nigeria‘ll soon be free from wheat importers – Adesina

  /   in Business   /   Comments

Agric Minister, Akinwumi-Adesina

AS the federal government intensify its campaign for 20 per cent inclusion of cassava flour in wheat flour, the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina said Nigeria will soon be free from the shackles of wheat flour importers.

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Procedures, requirements for obtaining C of O in Lagos State

  /   in Business   /   Comments

*Don Jazzy never bought this mansion

Investigations have revealed that majority of home owners in Lagos State, and in many other states of the federation, have no Certificate of Occupancy (C of O).

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What constitutes ‘Trade’ for Tax purposes: Guidelines for the General Public

  /   in Business   /   Comments

TAX

This article clarifies the FIRS’ position on what constitutes ‘trade’ or business for tax purposes. In accordance with the Companies Income Tax Act (CITA), and the Personal Income Tax Act (PITA), any trade is subject to tax under CITA and PITA, even if that trade is carried out by friendly societies, co-operative societies, charitable and ecclesiastical organizations, or trade unions.

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Latest

CBN official predicts 10% inflation by July

  /   in Business   /   Comments

CBN

The rate of increase in prices of goods and services will rise to 10 percent from the 7.7 percent recorded in February.

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Seplat listing may spur return of public offerings — NSE boss

  /   in Business   /   Comments

File photo: The  floor of Stock exchange

A stock market debut by oil and gas firm Seplat in Lagos and London is likely to unleash a round of Initial Public Offerings (IPOs) in Nigeria , the Chief Executive Officer, Nigerian Stock Exchange, NSE, Mr. Oscar Onyema has said.

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Our journey to home ownership, by Lagos HOMS winners

  /   in Business   /   Comments

HOUSE4

Eleven new home owners who successfully met the requirements of the Lagos Homes Ownership Mortgage Scheme (Lagos HOMS) collected the keys to their apartments from the Lagos State Governor Babatunde Fashola recently.

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Latest

Diamond Bank posts N8.2bn profit in first quarter

  /   in Business   /   Comments

Diamond Bank Plc has recorded a Profit After Tax (PAT) of N8.2 billion for the first quarter of 2014, representing a growth of 37 per cent Year on Year.

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FCMB, Kano boost cashless policy with customised PoS terminals

  /   in Business   /   Comments

naira money

The cashless policy has received a major boost with First City Monument Bank (FCMB), Limited and the Kano State Government partnering to launch customised Point of Sales (PoS) machines to fast-track internally generated revenue in Fagge Local Government.

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Latest

The Lagos initiative: Another first by the telecoms industry

  /   in Business 12:37 am   /   Comments

The new iPhone 5C is displayed during an Apple product announcement at the Apple campus on September 10, 2013 in Cupertino, California.

The digital world is here. We are all using various digital devices –smartphones, laptops, tabletops,tablets, phamblets, etc and consuming data,which is the currency of the digital world.

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A nation without fuel: Our demand for six new refineries – PENGASSAN

  /   in Business   /   Comments

The perennial fuel scarcity which seems intractable virtually in most states of  the country hit Lagos last Sunday evening. The fuel crisis which appears domiciled in Abuja, the nation’s capital, sneaked into Lagos like a thief. The situation almost paralysed social economic life of Lagosians. As at last Sunday when the scarcity began, motorists and commuters were taken unawares about the imminent scarcity of the essential product. Inset Rev. Folorunsho Oginni

The move by the Federal Government to privatise the four nation’s refineries is unsettling for many stakeholders in the oil and gas sector. While some stakeholders are against the idea, saying the privatization of enterprises like Daily Times, Air Nigeria, NICON Insurance and, most recently, Power Holding Company of Nigeria (PHCN) are not yielding the desired result, others advised government to build more refineries and

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Latest

GDP Rebasing: Questions Jonathan and Okonjo-Iweala must answer

  /   in Business, Top Stories 6:24 pm   /   Comments

economy

If that is true, one exercise should have been conducted in 2009 and another in 2004. Okonjo-Iweala was the Finance Minister in 2004. Why was the rebasing exercise not conducted at the time? Or is she just hearing about this for the first time in her career?

President Goodluck Jonathan was the Vice-President in 2009 and he became President in 2010. Why was there no rebasing at that time?

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Multimix Academy receives CILT re-accreditation, advocates system integration

  /   in Business   /   Comments

economy

In pursuit of consistence and standard practice, the Chartered Institute of Logistics and Transport, (CILT) has presented accreditation certificate to Multimix Academy, for its quality training in Logistics, Transport and Supply Chain Management in Nigeria, even as the institute advocates for Logistics Commission as the way forward for the industry.

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Latest

Age of innovation and economic growth of telecomm industry

  /   in Business   /   Comments

Small-Business222

On the Nigerian business landscape, consumers have woken up to the concept of choice. Consequently, businesses are confronted with the straight choice to innovate or sink.

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Latest

FG overspent by N105.47 bn in January

  /   in Business 12:33 am   /   Comments

Jonathan and Okonjo-Iweala

The Central Bank of Nigeria (CBN) said that the federal government overspent by N105.47 billion in January due to decline in its revenue for the month.

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Agriculture ministers condemn unnecessary loss, waste of good food

  /   in Business   /   Comments

Akinwumi Adesina

Agriculture ministers from across Europe and Central Asia have called on private sector to take the lead in preventing unnecessary loss and wastage of food as populations expand and food requirements continue to rise.

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Latest

Africa’s dependence on fuel import to persist

  /   in Business   /   Comments

A refinery

Africa’s dependency on fuel imports is likely to grow as its refining projects struggle to get off the ground, a Vitol director, Chris Bake has said.

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Ogun Govt. urges farmers to register for GES  Scheme

  /   in Business   /   Comments

Gov Ibikunle Amosun

The OgunGovt State government has urged farmers in the state to register for Growth Enhancement Support (GES) Scheme of the Federal Government in order to partake from its immense benefits.

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Latest

FG upgrades Olam Farms to staple crop processing zone

  /   in Business   /   Comments

farm-1

Olam Farms located in Nasarawa State has been upgraded to a Staple Crop Processing Zone (SCPZ) bringing the number of such zones in the country to 15.

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Latest

Terminal operators decry diversion of rice laden vessels

  /   in Business 12:49 am   /   Comments

seized-rice

THE Seaport Terminal Operators Association of Nigeria (STOAN) has decried the continuous diversion of ships laden with rice to the ports of neighbouring countries.

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Importers shift patronage to ports of neighbouring countries

  /   in Business   /   Comments

Seaport

THE delay in getting the newly Pre-Arrival Assessment Report (PAAR) by importers from the Nigeria Customs Service (NCS) may put the Nigerian economy at risk as importers have began to move em-mass to ports of neighbouring countries.

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Latest

Stakeholders berate weak policy formulation in government

  /   in Business, News   /   Comments

economy

Weak policy formulation has serious implications on the quality of decision-making as well as implementation of programmes and projects in the economy, said stakeholders.

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Latest

Empty container storage: Council calls for sanction on terminal operators

  /   in Business   /   Comments

Apapa port

THE National Council of Managing Directors of Licensed Customs Agents, NCMDLCA, has called on the relevant government agencies to sanction terminal operators for using the ports as storage for their empty containers.

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Meeting MDG targets through corporate social responsibility

  /   in Business   /   Comments

Nigeria-map

The Millennium Development Goals (MDGs) is expiring next year. At the dawn of the 21st century, specifically in September 2000, Nigeria and 188 other member countries of United Nations assembled at UN Headquarters in New York and agreed on a number of initiatives to free people from extreme poverty.

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Unified Payments boosts cashless policy with Payarena

  /   in Business   /   Comments

CBN

Inapparent bid to facilitate the ongoing cashless policy of the Central bank of Nigeria (CBN), Unified Payment Services Limited, formerly Valucard has introduced a new electronic payment platform called Payarena. Payarena offers customers access to value added services which include purchase of airtime (Virtual Top Up, Prepaid PINs, Blackberry subscriptions, Data bundle plans etc.) for all telcos in Nigeria; payment of bills to major service providers such as PHCN, DSTV, GOTV, Swift Networks etc.

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Latest

Do our laws support our economic well-being?

  /   in Business 12:39 am   /   Comments

economy

There is a group of persons in Benin-City, Edo State who have staged protests about the low-level of power supply and the fixed charges paid by the customers of the Benin Electricity Distribution Company, BEDC.

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Latest

Re-echoing the safety of the contributory pension scheme

  /   in Insurance and You   /   Comments

insurance-pix

The Contributory Pension Scheme, CPS, was established nine years ago by the Federal Government.

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Latest

Labour demands N687m unpaid Kaduna workers’ benefit

  /   in Business   /   Comments

NLC members calling for an end to job insecurity

Organised Labour in the nation’s Textile industry has called on the 19 Northern Governors to pay the N687, 073,346.00 entitlements of workers of Kaduna Textiles Limited, KTL.

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Capacity building is a critical part of our success story —Clare Omatseye

  /   in Business   /   Comments

Clare-Omatseye

We wanted to provide a company that would provide full solutions for our clients and ensures that we can make an impact. And having said this we developed an in-house training institute. We developed our own local engineers; a team of 15 engineers headed by an expatriate. In the beginning we had expatriated install most of our equipment, but as we grew things changed.

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