CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Afero commercial farmers invest N1bn, lament govt refusal for C of O
AFERO commercial farmers at Epe have lamented the refusal of Certificate of Occupancy (C of O) from the Lagos state government, which they claimed has denied them of so many amenities.
NSE queried over role in banks’ nationalisation
The Nigerian Stock Exchange has been called upon to explain its roles and the circumstances surrounding the nationalisation of Afribank Plc, BankPHB Plc and Spring Bank Plc by the Central Bank of Nigeria and the Nigerian Deposit Insurance Corporation, NDIC, especially as the non-inclusion of the NSE in the consultation and processes leading to the action is likely to lead to an erosion of confidence in the capital market.
Berkshire, Transatlantic still in talks: source
Berkshire Hathaway Incorporated’s $3.25 billion offer for reinsurer Transatlantic Holdings Incorporated has expired but the two sides are still in talks over a deal, two sources familiar with the situation said.
First Bank clinches best telecoms financing bank award
First Bank of Nigeria Plc has been named the best telecoms financing bank in Nigeria at the 2011 edition of the Nigerian telecoms awards by Logica Media Group.
Agents, lawyersbesiege Customs office over arrested touts in port
LAWYERS and licensed Customs agents yesterday besieged the office of the Federal Operations Unit ( F . O .U ) of the Nigeria Customs Service to effect the bail of their clients,friends and family members who who were arrested along with touts raided by the officers of the service last in Apapa.
Nigeria, India trade grows by over 71%
The trade between Nigeria and India has hit $14.628 billion in March 2011, representing a growth of over 71 per cent compared to that of the previous year, according to the Indian High Commissioner to Nigeria, Mr. Mahesh Sachdev.
Customs holds vessel to ransom in Lagos port
OFFICERS from the boarding and rummage unit of the enforcement department of the Nigeria Customs Service (NCS) last week held a vessel ‘M T Navigator Taurus’ carrying liquefied Petroleum Gas (LPG) to ransom causing the ship’s delay to sail.
Pension fund hits N2.3trn – PenCom
The nation’s pension fund assets have hit N2. 29 trillion, National Pension Commission, PenCom, said in its newly published 2010 Annual Report.
Chinese firms employ 40,000 Nigerians – Envoy
The Economic and Commercial Counselor of the Embassy of the People Republic of China in Nigeria, Mr. Rong Yansong, has revealed that more than 40,000 Nigerians are on the payroll of Chinese companies in the country.
CIPM seeks economic transformation through HR development
The Chartered Institute of Personnel Management of Nigeria (CIPM) has set agenda to stimulate the economic transformation of Nigeria through human resources development during its forthcoming 43rd annual conference planned for Abuja between 26th to 28th October, 2011.
