Friday March 6th, 2015
Friday March 6th, 2015
Latest

Richbon to create 5000 jobs with $40m auto assembly plant

  /   in Finance 12:31 am   /   Comments

A cross section of dealers

Executive Chairman of Richbon Group Chief CJ Muonagolu has assured that about five thousand new jobs would be created when the automobile assembly to be located in Anambra state fully comes on stream.

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Vocation And Technical Education – A Key To Improving Nigeria’s Development. Part 4

  /   in Finance   /   Comments

The Wired World: A graphic representation of the Internet

The focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT.) driven technological environment.

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BDC operators move to resolve lingering crises in ABCON

  /   in Finance   /   Comments

naira-Dollar

Bureaux De Change (BDC) operators has commenced moves to resolve the lingering leadership crisis in the Association of Bureaux De Change Operators of Nigeria (ABCON)

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Billboards preach civil responsiblity with ‘Spirit of Lagos’ campaign

  /   in Finance   /   Comments

Advertising-pix

In a renewed effort to reinvent the spirit of civic responsibility, citizenship, neighborliness and social justice, the Lagos state government has embarked on a campaign tagged; the ‘Spirit of Lagos.’For some months now, billboards in the state have been awash with messages of right thinking;

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HB projects increase in bank lending to SMEs in 2015

  /   in Finance   /   Comments

*File Photo

Bank lending to Small and Medium Enterprises (SMEs) and the retail sector will increase in 2015, Director, Heritage Bank, Mr Tony Madojemu, has said.

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Capital market operators seek global competitive tax rate

  /   in Finance   /   Comments

TAX

Operators in the Nigerian capital market have criticized the multiple tax system existing in the market and have canvassed for a global competitive tax rate for the country.

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Business survival rate now less than 50% — CEO Ekimiks

  /   in Finance   /   Comments

BUSINESS survival rate in Nigeria is now less than 50 percent. This is due to increasing exchange rate of the naira to foreign currencies and interest rates charge by banks on loanable funds.

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Insurers, traders differ on cover for fire incidents

  /   in Finance 2:15 am   /   Comments

Raized NFF building

Insurance operators and traders are split over the lack of insurance cover to mitigate losses suffered by traders during fire incidents.

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Nigeria has no business importing tooth picks — Emefiele

  /   in Finance   /   Comments

Mr Godwin Emefiele answering questions  during his screening by the Senate for  Central Bank Governorship in Abuja on Wednesday

Last week Tuesday, the CBN Governor, Mr Godwin Emefiele met with the organised private sector to discuss developments in the foreign exchange market. He gave insights into the continued pressure on the Naira, blaming it on speculative activities of operators. He urged the Nigerian business community to focus on local production, promising that the CBN will assist local manufacturers of products that are now being imported into the country.

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NDIC begins liquidation of 21 mortgage banks

  /   in Finance   /   Comments

Naira note

Nigeria Deposit Insurance Corporation (NDIC) has liquidated 21 Primary Mortgage Banks (PMBs), following the revocation of their operating licences by the Central Bank of Nigeria (CBN).

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Electronic payments hit N35 trillion in 2014

  /   in Finance   /   Comments

atm2

The value of electronic payment rose by 150 percent in two years to N35 trillion in 2014, reflecting the impact of the cashless policy.

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‘Nigeria has no business importing tooth picks’

  /   in Finance   /   Comments

Godwin Emefiele, Zenith MD

We need to begin to look at the structure of our economy and tell ourselves that as we stopped importation of cement and today we are exporting cement, we can do the same and encourage those who are ready to produce to support the economy and help conserve our reserves and ultimately keep our exchange rate strong.

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We’ve diversified economy, says Okonjo-Iweala

  /   in Finance   /   Comments

Okonjo-Iweala

Finance Minister and Coordinating Minister of the Economy, Dr Ngozi Okojo- Iweala has said that the country’s economy has to a greater extent experienced development in other sectors of the economy.

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Insurance commissioners and efforts to revamp the sector

  /   in Finance   /   Comments

insurance-pix

The insurance industry in Nigeria is working hard to take its rightful place in the economy; as a result, all efforts are geared towards making the industry contribute meaningfully to the Gross Domestic Product (GDP) of the country. Nigeria’s gross premium per capita of $8.9 is low when compared to $1,072, $29.9 and $49.3 for South Africa, Kenya and Ghana, respectively. Insurance penetration as a percentage of GDP is 0.43 per cent; and only an estimated 6 per cent of the population has any form of insurance.

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Latest

NDIC begins liquidation of 21 mortgage banks

  /   in Finance   /   Comments

HousingaPOS

Nigeria Deposit Insurance Corporation (NDIC) has liquidated 21 Primary Mortgage Banks (PMBs), following the revocation of their operating licences by the Central Bank of Nigeria (CBN).

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Devaluation heralds tough times for businesses this year —Kapoor

  /   in Finance   /   Comments

1000-naira-notes

The Vice Chairman, Vital Products Plc, Mr. Sanjeeve Kapoor, penultimate week, said that 2015 is going to be tough for businesses as a result of naira devaluation, as this may result to market contraction of about 35 percent.

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Vocation and Technical Education – Key to improving Nigeria’s development (4)

  /   in Finance   /   Comments

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

The focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT.) driven technological environment.

Read More →
Latest

Electronic payments hit N35 trillion in 2014

  /   in Finance   /   Comments

man-with-phone

The value of electronic payment rose by 150 percent in two years to N35 trillion in 2014, reflecting the impact of the cashless policy. Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN) Dr. Mrs Sarah Alade disclosed this in Lagos at the inauguration of the Payment System Strategy Board, Payment Scheme Boards and Initiatives Working Groups.

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Latest

Naira devaluation: ‘No significant impact on e-commerce yet’

  /   in Finance   /   Comments

Naira sign

The Managing Director of Nigeria’s premier online marketplace, Kaymu.com, Evangline Wile has said that the current depreciation of the Nation’s currency, the Naira has not had any significant impact on e-commerce.

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Courier firms must reposition to key into e-commerce — Johnson

  /   in Finance   /   Comments

The Minister of Communications Technology, Mrs. Omobola Johnson has said that courier companies in Nigeria must reposition and re-strategise to meet the growing demands of parcel delivery being driven by the boom in e-commerce in Nigeria.

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Filing returns based on self assessment regime

  /   in Finance   /   Comments

metro-market

Where a taxpayer, agent or employer fails to file the tax returns for an accounting period after the time extended by the Service, the taxpayer, agent or employer shall be liable to pay prescribed penalties for late filing of returns from the due date of filing.

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E-collection to curb revenue related corrupt practices—CBN

  /   in Finance   /   Comments

The Central Bank of Nigeria, CBN, headquaters, Abuja

The Central Bank of Nigeria (CBN) has said that the introduction of electronic collection of revenue (e-Collection) by the federal government will help to curb revenue related corrupt practices in the country.

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Latest

Naira devaluation: ‘No significant impact on e-commerce yet’

  /   in Finance   /   Comments

The Managing Director of Nigeria’s premier online marketplace, Kaymu.com, Evangline Wile has said that the current depreciation of the Nation’s currency, the Naira has not had any significant impact on e-commerce.

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Latest

NHF monthly collections up by 250% to N2.4bn

  /   in Finance 12:58 am   /   Comments

1000-naira-notes

The National Housing Fund (NHF) collections from over four million subscribers nationwide has increased by about 250 percent to N2.4 billion monthly from N700 million.

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FG to begin piping of products to ease Apapa traffic

  /   in Finance   /   Comments

Standstill at Mile-2 to Tincan, along Oshodi-Apapa expressway yesterday. Photo: Joe Akintola, Photo editor.

Federal Government has said that it will commence piping of petroleum products from the Lagos port to major depots across the country as part of efforts to decongest the perennial traffic situation in the port city of Apapa in Lagos.

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Latest

Vocation and Technical Education – A key to improving Nigeria’s development. Part 4

  /   in Finance   /   Comments

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

The focus is on the roles of technology and vocational education in enhancing entrepreneurial skills that will equip students for entrepreneurship education in Information and Communication Technology (ICT.) driven technological environment. The world has become globalized and the future prosperity depends on comparative advantage.

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Latest

NDIC grants further reduction in insurance premium for banks

  /   in Finance   /   Comments

insurance-pix

The Nigeria Deposit Insurance Corporation (NDIC) has further reduced the deposit insurance premium rate to all Deposit Money Banks (DMBs) in Nigeria as part of efforts toward contributing to financial system stability and promoting public confidence in the banking industry.

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Latest

CBN introduces measures to curtail international card frauds

  /   in Finance   /   Comments

CBN Headquarters

The Central Bank of Nigeria (CBN) has introduced measures to curb the rising incidence of international overseas card fraud against Nigerians.

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Tax Clearance Certificate (TCC), Due Dates for Filing Returns…

  /   in Finance   /   Comments

market-2

Over the years, questions have been raised on issues regarding Tax Clearance Certificates (TCC), due dates for filing returns, accounting year, accounting period and other tax related issues. The following questions and answers seek to shed some light on these matters.

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AfDB, MasterCard broaden financial inclusion in Africa

  /   in Finance   /   Comments

Africa

African Development Bank (AfDB) and MasterCard have announced a broad collaboration that aims to expand financial inclusion across the African continent. The collaboration seeks to develop solutions that drive inclusive growth in Africa by broadening access and usage of digital financial services.

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Latest

Electricity metre manufacturers urge DISCOs to source pre-paid metres locally

  /   in Finance   /   Comments

prepaid-meters

Two indigenous pre paid meter manufacturers have appealed to the Federal Government to prevail on Electricity Distribution Companies (DISCOs) to promote locally manufactured pre-paid meters. They made the appeal in Lagos against the backdrop of approval of funds for the procurement of one million electricity meters by the Federal Government.

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Latest

Carmudi mulls partnership with FRSC, others to combat online fraud ….Unveils Android App

  /   in Finance   /   Comments

*FRSC-boss, Ositadinma-Chido

Online car marketplace, Carmudi.com has said it is considering a partnership with the Federal Road Safety Commission, FRSC and security agencies to prevent any form of fraud especially as related to the auto marketplace in Nigeria.

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