Over 60 per cent of the containers entering Nigeria are not inspected at the ports. The Standards Organisation of Nigeria (SON) has revealed. Director- General, SON, Dr. Joseph Odumodu, said these containers were sneaked into the...
The global community can help poor countries weather the current slowdown in the world economy by keeping trade flowing, encouraging investment and making good on aid promises, the head of the International Monetary Fund said yesterday. IMF Managing Di...
The National Automotive Council (NAC) said that the bulk of Nigeria resources were expended annually on importation of vehicles into the country. The Director - General of NAC, Aminu Jalal,made this disclosure recently when he received in audienc...
Leading telecoms operator, Globacom, and global airtime remittance hub, TransferTo, have announced the launch of Glo Mobile International Airtime Transfer service. The service enables the transfer of small amounts of money, in the form of prepaid airti...
There are strong indications that Deposit Money Banks may reduce lending to firms polluting the environment.The Bankers’ Committee is currently in partnership with the Central Bank of Nigeria to work out a framework that would assist DMBs t...
As part of its resolve to treat every customer as unique, Sterling Bank is partnering with Phebean Films in collaboration with Paradise Entertainment, Davis Media Group and Tracey Moore bring to the viewing public ‘The Spirited Actor” The S...
Activities on the floor of the Nigerian Stock Market yesterday further plummeted by N55 billion. Market analysts attributed the downward slide to the hike in the monetary policy rate. The Central Bank of Nigeria, had on Monday increased the inter...
The naira continued its slide yesterday as the Central Bank of Nigeria (CBN) sold $400 million at 156.91 naira to the dollar at its bi-weekly foreign exchange auction. This was short of the $736.94 million demanded by authorized dealers. Pronouncements...
Say it will remove distortions, rent-seeking from economy - The proposed removal of fuel subsidy by the Federal Government has been applauded by local and international analysts, saying the move, if ratified by the National Assembly will reduce distort...
Nigeria lost N153 billion to low capacity utilisation in the paper sector between 2006 and 2009 says Prof. Peter Onwualu, Director-General, Raw Materials Research and Development Council (RMRDC). Onwualu told the News Agency of Nigeria (NAN) on Monday ...
Nigeria’s foreign reserves slipped to its lowest level in three months, closing last week at $31.318 billion. The last time the reserves reached this region was on July 5 when it closed at $31.581 billion and thereafter peaked at $35.071 on Septe...
The Power Holding Company of Nigeria (PHCN) has stated that due to loss of gas, it would be shutting down five power stations to carry out maintenance work. In a statement from the management yesterday, the Nigeria Gas Company Limited (NGC) gave a noti...
Finance Minister, Dr. Ngozi Okonjo-Iweala recently announces that the country was on the verge of securing a loan of $550 million from the World Bank to revamp the Agricultural Sector and also create jobs for many Nigerians. In this report, Kazeem Akin...
Due to several petitions to the House of Representatives on alleged irregularities in the nationalisation of banks, the Committee on Capital Market and Financial Institutions has disclosed that the matter would be investigated. Chairman of the Committe...
The long awaited implementation of number portability is set to begin with the appointment by the Nigerian Communications Commission (NCC) at the weekend of a consortium of three companies to implement the proposed services in Nigeria. Number portabili...