THE Board of Directors of Ecobank Transnational Incorporated (ETI) has named Mr. Kolapo Lawson as its new chairman. The decision was made at the 135th meeting of the Board, held in Lome , Togo on the 28th of September, 2009.Read More
Guaranty Trust Bank (GTBank) Plc has warned its customers against divulging their personal data to any person order than the bank.
According to a statement by the bank, â€œOur attention has been drawn to mails being sent out by fraudsters, requesting for such sensitive information as Internet Banking Account and ATM Card Details. Some of these mails also request that customers update their account records by clicking on links to fake Internet banking and Interswitch websites.â€
J.P. Morgan Chase, Prudential Financial Inc., Citigroup and Deutsche Bank are set to form a new coalition that will create reporting and investing standards in the microfinance sector.Read More
The Ministry of Commerce and Industry, has announced plans to conduct a National Census of Industries and Businesses in the country next year.Read More
Local manufacturers have faulted the new gas price regime of N58.70 per. scm by local gas companies and suppliers, saying it will escalate their operating costs and make their products uncompetitive.Read More
The Standard Organisation of Nigeria (SON) has advocated for a review of the criminal law.
SON Director General, Dr. John Akanya, who made the call, while receiving a delegation of the Port Industry Anti-Corruption Standing Committee (PIACSC), led by the Chairman, Mr. Val Usifoh, asserted that the review become necessary in order to have more stringent punishments for importers of substandard goods and their collaborators as the current provisions in the constitution have become inadequate to serve as deterrent to offenders.
OPERATORS in the Nigerian maritime industry particularly in the freight forwarding sub-sector have said that it is illegal for the government to fund the Council for the Regulation of Freight Forwarders in Nigeria (CRFFN).Read More
The National Insurance Commission, NAICOM is set to move against chief executive officers of insurance companies that operate broking or loss adjusting firms while still in office NAICOM Director, (Inspectorate), Mr. Sunday Thomas, said in Ijebu-Ode Ogun Sate, â€œThis is unethical and it should not be encouraged.Read More
The insurance industry needs more retail agents to effectively enforce compliance to the compulsory insurnace products and achieve bout 80 per cent insurance culture in the country.Consultant to National Insurance Commission (NAICOM), Mr. Yemi Soladoye said in Lagos the number of insurance agents in the industry at present is inadequate and there is need for significant increase in the number of agents operating in the sector.Read More
Nigeria, Ghana and cote dâ€™Ivoire have commenced moves to check trade abuses relating to the ECOWAS Trade Liberalisation Scheme (ETLS).
Minister of Commerce and Industry, Chief Achike Udenwa said in that ….
In the midst of the financial and economic crisis, a South African based Property and Leisure company listed on the Nigerian Stock Exchange (NSE) is set to commence construction activity on a N105bn (US$676m or R5.13bn) development that will include an 18- hole golf course, a 5-star hotel and 420 villas along Tarkwa Bay in Lagos.Read More
Provoked by profit taking activities of investors in the Nigerian Stock Exchange (NSE), the value of listed equities dropped, Monday, by N32.85 billion.
Specifically, the value of listed equities, represented by the market capitalisation, depreciated by 0.63 per cent to close at N5.159 trillion, from N5.192 trillion at which it opened.
NEM Insurance has commenced moves to raise N20 billion fresh capital from the investing community. Shareholders at the 39th Annual General Meeting of the campany held in Lagos recently passed a resolution authorising directors to raise additional N20 billion.Read More
The declining fortune of the footwear industry has been attributed to lack of patronage by the government.
Chief Executive Officer, Fut Wear Conceptus, Nigeria, Mr. Wole Madariola Olumide, said, â€œIt is sad to know that government is not encouraging companies whose aim and objective is to ensure that sanity comes back to the economy of Nigeria.
The Real Estate Developers Association of Nigeria (REDAN) has said the 21-day ultimatum issued to bad debtors by the Federal Mortgage Bank of Nigeria (FMBN) would no longer be tenable because a committee has been put in place to resolve the issue.Read More