Business

Sanusi Won’t Leave Apex Bank Before June

The prospective exit of the Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi later this year has continued to generate controversy and on Thursday, the episode assumed a new dimension as the governor insists  he would not quit the post until when his term expires on June 2,[Read More…]

NSE Market Capitalisation Depreciates By N149bn

The market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by N149 billion or 1.11 per cent on Thursday as major stocks recorded price loss. The News Agency of Nigerian (NAN) reports that the market capitalisation closed lower at N13.237 trillion from the N13.386 trillion recorded on Wednesday. The All-Share[Read More…]

Hi-Tech Explosive Detectors Purchased By Aviation Ministry

Nigeria’s Federal Ministry of Aviation has acquired Hi-tech three-in-one explosive detectors for 15 out of the 22 airports in the country. This is in a bid to intensify safety and security measures in Nigeria’s airports. The facilities would be capable of detecting liquid, metals and explosives during airport screening. Sspokesman for the[Read More…]

CBN Deputy Governor, Lemo Retires

The Central Bank of Nigeria (CBN) has announced the retirement of Mr Babatunde Lemo, the Deputy Governor, Operations Directorate. The Apex bank on Wednesday in Abuja said that Lemo was retiring from service on Friday after serving two terms of five years each. The retirement would officially take effect from Jan.11[Read More…]

External Reserves Rise To $43.3bn

NAN The Central Bank of Nigeria (CBN), on Wednesday said that the nation’s external reserves appreciated to $43.314 billion, an increase of $6 million as at Jan. 7, 2014. CBN made the disclosure through its website. According to the government bank, the amount represents $42.07 billion in ‘liquid’ while $1.043[Read More…]

Amaechi Signs 2014 Appropriation Bill Into Law

NAN Gov. Chibuike Amaechi of Rivers, on Wednesday in Port Harcourt, signed the 2014 appropriation bill into law. Amaechi had presented a proposal to spend N485.5 billion to the Rivers State House of Assembly on Jan 7, which was approved the same day. The governor, while signing the bill into[Read More…]

Naira Loses 2 Kobo As External Reserves Fall By $301m As Naira Loses 2 kobo

According to Vanguard Nigeria: The nation’s external reserves continued its downward trend as it fell by $301 million to $43.31 billion from $43.61 billion in the first six days of 2014. Meanwhile, the naira depreciated marginally by two kobo at the first foreign exchange auction conducted by the Central Bank[Read More…]

Taraba State Not Broke, Says Commissioner

NAN The Taraba State Government says it is not true that the state is broke and cannot not pay its bills. Mr Ate Saleh, the Commissioner for Information, Culture and Tourism, said this at a news conference in Jalingo on Monday. He said that allegations, which were credited to Dr[Read More…]

Maritime Operators Discuss The Fortune Of The Industry In 2014

As the reality of 2014 dawns on us, maritime industry players are divided as regards the prospect’s of the nation’s economy in this new year. Economic aficionados are of diverging opinions as regards Nigeria’s prospects in the new year. Some are of the opinion that the year will bring brighter[Read More…]

MTN Turns To e-Business As Voice Revenue Falls

By: Ben Uzor Jr With the recent acquisition of a 33.3 percent stake in African Internet Holding (AIH), an internet business group co-founded by German e-commerce conglomerate, Rocket Internet, and Millicom International Cellular, MTN Group, an emerging market-focused telecommunications firm, is gradually going through an e-business transformation, industry analysts say,[Read More…]