NDIC pays N1.48bn to 10,312 depositors of 47 closed MFBs
The Nigeria Deposit Insurance Corporation, NDIC, has paid N1.48 billion to 10,312 insured depositors of 47 recently closed microfinance banks, MFBs, as part of efforts to strengthen confidence in the banking system.
Indigenous ship owners move against NIWA over double taxation
THE Nigerian Indigenous Ship owners Association of Nigeria, NISA, has concluded plans to move against the proposed re-registration of vessels by the management of the National Inland Waterways, NIWA , a development they say will lead to double taxation. Speaking at the end of its quarterly meeting, President of NISA, Captain Niyi Labinjo said that the Nigerian Maritime Administration and Safety Agency, NIMASA, is the only agency empowered by law to register vessels in Nigeria.
Access Bank to build capacity in oil & gas sector
As part of its continued drive to improve local content in the nation’s oil and gas industry, Access Bank Plc has thrown its weight behind the 2015 Nigeria Oil and Gas Conference which is scheduled to hold in Abuja between March 16 and 19, 2015. The conference is the largest business network platform for players in Nigeria’s oil and gas sector. The Executive Director, Corporate and Investment Banking Division, Access Bank Plc, Elias Igbinakenzua said that the Bank is delighted to be a part of the Oil and Gas Conference , adding that its involvement in the sector was in line with the commitment to contribute to the economic growth of the country.
Pearl awards: SEC wants corporate governance included in selection process
The Securities and Exchange Commission (SEC) has advised the board of governors of the Performance, Earnings and Returns Leadership (Pearl) Awards Nigeria to include good corporate governance in its criteria to reward quoted companies in Nigeria. The commission also assured of its readiness to collaborate with the Pearl Awards in encouraging companies for high performance.
Dangote calls for investments in real sector to save economy
DANGOTE Group has called on private investors to invest their money in the real sector of the economy, especially in manufacturing and agriculture. Devakumar Edwin, the Executive Director of Dangote Group, who made the call in Lagos, noted that while government has a big role to play in formation of the right policy to encourage investors; the business community has a bigger role to play by moving away from importation to production.
Vitafoam to expand product line
As part of its corporate strategy to support sound health for mankind, Vitafoam Nigeria Plc, a quoted company on the Nigerian Stock Exchange, NSE has pledged to expand its production of modern sleep products. Addressing journalists at a ceremony marking the 2015 World Sleep Day, the company’s Group Managing Director, Mr. Joel Ajiga explained that Vitafoam Nigeria had ventured into production and supply of flexible, semi-rigid and rigid polyurethane foam products leading to incorporation of more subsidiaries.
