President Goodluck Jonathan on Tuesday in Abuja wrote a letter to the Senate President requesting approval to borrow about $7.9 billion for pipeline projects. The President said the request was coming under the medium term (2012-2014) external borrowin...
The Kebbi government has secured approval from the CBN to establish 16 additional branches of micro-finance banks in some local government areas of the state. Alhaji Bello Tuga, the Commissioner for Works and Housing, disclosed this...
The Chartered Institute of Taxation of Nigeria (CITN) yesterday in Lagos urged President Goodluck Jonathan to ensure that the planned reduction in the 2012 federal budget would translate into meaningful development. The President of C...
Despite claims of mind- boggling strong economic growth by the government of the day, facts have emerged that figures bandied about may not afterall reflect the actual reality on ground according to a statement from the office of the Nation...
Dangote Cement has urged the federal government to invest more on infrastructure to enable it absorb its anticipated increase in cement production. Special Assistant to Alhaji Aliko Dangote on cement,Mr Joseph Makoju, made the call in an in...
The Federal Airports Authority of Nigeria (FAAN) yesterday directed owners of abandoned and unserviceable aircraft in all the nation’s airports to remove them within 30 days or face sanctions. The latest directive of ...
Minister of Power, Prof. Barth Nnaji, has disclosed that workers transferred from the unbundled Power Holding Company of Nigeria (PHCN) to the various 18 successor companies would be allowed to negotiate new contract terms with the eventual investors o...
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...