Recapitalisation empowers insurers to protect manufacturing sector — Report
By Rosemary Iwunze Following the conclusion of the insurance industry recapitalisation exercise, the sector is now expected to protect Nigeria’s manufacturing sector against costly industrial risks. It is also expected to have significant implications for manufacturers whose operations are exposed to risks ranging from factory fires and machinery breakdowns to marine cargo losses, engineering failures […]
PRCAN becomes ICCO member
The Public Relations Consultants Association (PRCAN), the umbrella body of PR consultancy firms operating in Nigeria, has been admitted into membership of the International Communications Consultancy Organization (ICCO). PRCAN’s admission was announced by the ICCO Chief Executive, Francis Ingham, at the organization’s bi-annual Board of Management meeting which held in Vienna, Austria, on April 16-17, 2015.
Poor orientation hampers MSMEDF disbursement — SMEDAN
“The microfinance banks are complaining that they already have collateral with the Central Bank, but the SMEs approaching them for the loans are coming with un-presentable collateral, so with this, it is difficult for the microfinance banks to keep giving out the loans. “We are currently on reconciling terms with the CBN to figure out other means, but another major issue is that some of the SME owners are getting poor orientation about the loans,” he said.
Eni misled shareholders over Nigeria corruption scandal — Global Witness
The most senior managers at oil giant Eni appear to have misled shareholders over the company’s actions in a corrupt oil deal at its 2014 AGM. This is very important – as they gather for the 2015 meeting, shareholders in Italy’s biggest company should expect straight answers over a deal which poses real risks to their investments. The corruption at the heart of the deal deprived the Nigerian state of over U.S. $1.1 billion, has triggered investigations by authorities in three countries, and could ultimately lead to the Eni and its partner Shell losing access to the oil block.
Alibaba in litigation over fake goods
A group of luxury goods makers in the United States has sued, CHinese e-commerce giant, Alibaba Group Holding Ltd contending that it had knowingly made it possible for counterfeiters to sell their products throughout the world. The lawsuit alleged that Alibaba had conspired to manufacture, offer for sale and traffic in counterfeit products bearing their trademarks without their permission.
Openshopen emerges e-commerce platform of the year
Computer Warehouse Group, CWG’s e-commerce platform, Openshopen.ng has been named e-commerce platform of the year at the Beacon of Information and Communication Technology awards held in Lagos recently. The website, polled the highest votes in its category following an online poll that featured over two hundred thousand entries via email and on the award’s electronic voting portal.
