Ashaka Cement Plc, a subsidiary of Lafarge Cement WAPCO Nigeria plc says it is adding 300,000 metric tonnes to its current 1,000,000 production capacity. This would bring its total annual production capacity to 1.3 million metric tonnes. The comp...
The Minister of Power, Prof. Bart Nnaji, has refuted reports that General Electric (GE) has agreed to construct a 10,000MW power plant in Nigeria. Making the clarification in a statement yesterday, Nnaji said GE “has neither constructed nor agree...
The Minister of Mines and Steel Development, Mr. Mohammed Musa Sada, has said Nigeria has a proven reserve of 620,000 0unces of gold in Ogun State. He also stated that coal resources existed in 13 States of the country with the current exploration resu...
The Register General and Chief Executive Officer of the Corporate Affair Commission (CAC), Barrister Bello Mahmud, has intensified efforts at educating people to register their businesses. Mahmud made this disclosure in an interview with an online econ...
The Central Bank of Nigeria (CBN) has established an Automated Teller Machine (ATM) Fraud Prevention Committee to address risks associated with the use of alternative e-payment channels. The members of the committee include banks, the ...
Umuchinemere Pro-credit Micro Finance Bank (UPMFB), owned by the Catholic Diocese of Enugu has disclosed that it gave out N263,680,000 micro credit fund to a total of 3,860 poor people in the diocese in 2011. It said the gesture was in line...
Guaranty Trust Bank Limited has acquired the licence to issue MasterCard debit cards in its Ghana subsidiary, GTBank (Ghana) Ltd. With this launch, the bank has rolled o...
The Nigerian Stock Exchange at the weekend announced the revocation of Licences of 10 dealing member firms just as it declared 48 and 27 others inactive and unactivated respectively as at February 10, 2012. This was contained in a Circular number BDR/C...
Unlike some of the markets in other climes, since the beginning of the economic meltdown in the mid 2008, the Nigerian capital market is yet to regain its confidence due to the loss suffered by the investors and the inability of the market regulators t...
The Nigerian Stock Exchange continued on a negative trajectory at the close of the trading weekend as most blue chip companies joined the league losers resulting in the NSE All-Share Index depreciating by 254.01 points or 1.2 per cent ...
First City Monument Bank said on Friday it has completed the acquisition of rescued lender Finbank, which it said would double its branch network and customer base. FCMB shares were up almost four per cent on Friday at N4.10 per share. The mid-size len...
Union Bank of Nigeria Plc has, again, retained its position as the Best Performing Bank in Nigeria under the Central Bank of Nigeria - managed Agricultural Credit Guarantee Scheme Fund ( ACGSF); making it the 5th time the bank is winning the award sinc...
The Cashless policy, an initiative of the Central Bank of Nigeria (CBN) and the 24 deposit money banks, aimed at encouraging electronic transactions and reducing the amount of physical cash in circulation has been given a push by Interswitch with the a...
Some people die while they live but others, though they are no more, live in the hearts of those who they touched writes PEMBI STEPHEN-DAVID. Dantata & Sawoe has lost a visionary and passionate chair, and the world has lost an amazing human being....
America’s Nimitz-class aircraft carriers are powered by two small on-board pressurised water reactors (IPWR), which drive the ship’s four steam turbines that not only power four five-bladed propellers, but also generate electricity to power...