Breaking News


N5.2trn Pension fund: Fashola advocates investment in real sector


Federal government efforts at containing the massive corruption embedded in pension fund in time past may have achieve results but not enough to allow the N5.2trillion lay fallow, says the Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola The Minister at the Nigerian Pension Industry Strategy Implementation Road Map Retreat organised by the National Pension Commission (PenCom) retreat held in Abuja penultimate Friday, advocated proper use of pension fund to build the required infrastructures for a rapid development for the country.

Read More
A welder

FG to train 370, 000 artisans in 2016

The Federal Government plans to train 370,000 artisans this year to boost skills development and employment generation. Mr Afolabi Imoukhuede, Senior Special Assistant to the Vice President on Job Creation and Youth Employment, disclosed this last week, at the flag-off of the Construction Skills Training and Empowerment Programme (C-STEmp), in Abuja. “The Federal Government has plans to train 370,000 artisans this year…It has already been decided. We have had a fruitful discussion on it with the Vice President and relevant ministers and we are looking forward to working with the C-STEmp to achieve the goal,” Imoukhuede stated.

Read More
File photo: The  floor of Stock exchange

NSE pledges to dialogue with FG to list public enterprises

The Nigerian Stock Exchange, NSE has said that there will be no relenting on efforts this year to dialogue with the Federal Government to bring public enterprises on the stock exchange so that Nigerians could benefit from it. Chief Executive Officer of the NSE, Mr. Oscar Onyema, while reacting to questions from the media during its briefing on the performance of the market in 2015 and outlook for the year said “the NSE will continue to dialogue with the FGN to ensure that state-owned enterprises are listed in the capital market to unlock the government potentials.”

Read More
File: Banking hall

N331bn inflow from matured Treasury Bills rescues interbank market

The interbank money market experienced huge outflows of cash last week leading to scarcity of funds which was halted by N331 billion inflows from payment of matured treasury bills. Vanguard investigations revealed that the amount of idle cash in the market fell from N633 billion on Monday to zero at the end of business on Tuesday as banks diverted the idle cash to participate in foreign exchange sales by the Central bank of Nigeria (CBN).

Read More

Cargo tracking levy must go, MAN insists

THE Manufacturers Association of Nigeria (MAN) has insisted that the International Cargo Tracking Note (ICTN) levy being reintroduced by the Nigerian Shippers’ Council, NSC, be scrapped. Cargo tracking is a global initiative put in place to monitor and verify cargoes on transit. It is mandatory for all International Maritime Organisation member-countries. In US, it is called 24-hour rule; in Europe it is known as EU Advanced Cargo Declaration; China, 24-hour Advanced Manifest Regulation, etc.

Read More

Vitafoam, Vono merger to boost stakeholders’value

Vitafoam Nigeria Plc has disclosed that it proposed merger with Vono Products Plc will result to economies of scale and in turn benefit stakeholders in the long run. Vitafoam Nigeria Plc’s Group Managing Director, Mr. Taiwo Adeniyi, while briefing newsmen in Lagos, expressed optimism that the merger of Vono Products Nigeria Plc with Vitafoam Nogeria Plc would translate into higher earnings and enhanced shareholder value.

Read More
File: Banking hall

CBN reintroduces CoT as current account maintenance fee

The Central Bank of Nigeria (CBN) has indirectly reintroduced Commission on Turnover (CoT) fee as Current Account Maintenance (CAM) Fee. Recall that the CBN in 2013 commenced phased reduction of CoT which terminated with zero CoT charge this year. But in a circular to banks last week signed by Director, Financial Policy & Regulation Department, Mr. Kevin Amugo, the CBN replaced the CoT with CAT but subject to maximum of N1 per N1000 (Mille).

Read More

Invest in Nigeria – NIPC tells investors

Nigerian Investment Promotion Commission (NIPC) has said this is the time for investors to come and invest in Nigeria, saying the challenges facing the country at the moment is an ample opportunity for investors. The Executive Secretary of the Commission, Mrs. Uju Aisha Hassan-Baba who made the call in Abuja while receiving an Investment delegation from Chinese Africa Investment Limited in her office said, the Commission is ever ready to assist investors on the diversification policy of the Federal Government to promote the non-oil sectors of the economy.

Read More
Polymer naira notes

Nigeria may miss out of digital dividend put at $100trn

Nigeria’s attempt at digitisation is said to be hampered by funding. Last year, a two-day workshop on digitisation held in Lagos to provide opportunity to appraise the process and map out strategies to ensure that the switch over is accomplished with least or no hitches. Essentially, the event gave participants the unique opportunity to update themselves on the latest policy direction and technical requirements for the digital transition in Nigeria.

Read More
lDr. Abdul Alimi Bello, President, KADCCIMA

Economy: To survive, we must go back to things we neglected – BELLO

I want to start by thanking you for granting us audience despite your tight schedules. We are indeed very grateful. Now, as council members of Kadccima, we appreciate your organization’s contributions in the socioeconomic growth and development of our dear country. We also commend your medium for your objectivity and fairness in reporting. As you are aware, our coming here today is to thank you and your management for the support you have been giving us as a chamber and all our activities, particularly the annual international trade fair.

Read More

Education For Enterprise Development and Revolution (1)

This admission by a captain of industry confirms the essential suspicion about the quality of education in Africa’s second largest economy. Tangentially, it’s gestures towards the problems of massive unemployment, brain-drain, and manpower shortages that continue to cripple domestic efforts to achieve rapidly sustainable growth. For qualified youth looking for a job, it also explains the prolonged and intensive pre-recruitment tests that Nigerian corporate houses insist on before jarring local talent.

Read More

Cola war: Battle for supremacy rages

Big Cola as crafty as it is entered the market with same price for increased bottle size, which sight eluded competition, a bait that invariably attracted patronage, because ‘consumers want more for less’, a well thought out strategic plan one would say, which paid off for the product. Whether this swoop on the market will last long is a question to be answered by managers of Big cola. Mind you, brand watchers ears are on the ground.

Read More
The wrecked car after the accident.

Concept Nova battles car vandalism with C-Protect technology

Nigeria’s technology company, Concept Nova has introduced yet another IT solution, the C-Protect, to tackle the menace of vehicle vandalism in Nigeria. C-Protect, an anti-glass break solution, is an invisible coat of film which could be installed on car window glasses and vents to prevent the glass from shattering in an event of accidental glass break, theft or vandalism. It drastically reduces the ease of break-in during robbery by over 80 per cent as it is nearly impossible to break the glass even upon multiple hits.

Read More