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 […]
PHCN nabs two vandals
Power Holding Company of Nigeria, PHCN Orile Business District, has nabbed two suspected vandals who tried to cart away equipment worth millions of naira belonging to the National Integrated Power Project (NIPP).
Sterling Bank: Growth for steady returns
Sterling Bank Plc over the years has demonstrated ability for consistent growth and steady returns on investments for its shareholders. This uniqueness was once again confirmed by its operating report for the year ended December 31st 2011, which shows a generally positive performance outlook as the bank’s sustained focus on quality growth and gains from successful merger and divestments impacted positively on profit and loss accounts as well as balance sheet positions.
Ecobank total asset hits $17.8bn, unveils electronic banking platform
As part of its support for cash less economy being canvassed by the Central Bank of Nigeria (CBN), Ecobank has launched a new electronic banking platform designed to provide cash management solutions for corporate entities, just as its total assets rose to $17.8 billion.
Rural electrification: Many communities still grope in darkness
When the Nigeria Rural Electrification Programme was launched in 2005, the Federal Government aimed to connect about 1,500 communities to the national grid by 2007, and to achieve 85 percent electrification by 2010 (compared to 40 percent in 2005).
Privatisation: BPE releases PHCN bid documents
In keeping with the revised timeline for the privatisation of the successor companies created from the unbundling of Power Holding Company of Nigeria (PHCN), the Bureau of Public Enterprises (BPE) has released the final industry and transaction documents to the 152 potential investors interested in the privatisation exercise.
