Business

My traducer, Financial Reporting Council, got N500million from CBN, Sanusi says

The Financial Reporting Council of Nigeria [FRCN], whose report and recommendations President Goodluck Jonathan relied upon to suspend the Governor of the Central Bank of Nigeria, Lamido Sanusi, is a beneficiary of the CBN “intervention” spendings, the suspended CBN chief has said. The FRCN had, in a 13-page report, following its review of the audited […]

CBN

CBN submits N930 billion 2014 budget to National Assembly

It is the first time the CBN would be doing so in the apex bank’s history. The Central Bank of Nigeria, CBN, on Wednesday submitted and defended its 2014 budget proposal before the House of Representatives Committee on Banking and Finance. It is the first time the CBN would be doing so in the apex […]

Union Bank unveils new corporate strategy

The bank’s ambition was categorised into six major areas of commitment.

Tony Elumelu

Education in focus as Jonathan, Elumelu, others attend Nigerian Economic Summit

This year’s summit focuses solely on the education sector.

EU confirms partnership agreement for trade in West Africa; pledges N1.49 trillion

Funds aimed at enhancing trade and investment flows to West African countries.

NSE: Total tops losers chart after Monday’s trading

The value of transactions after trading stood at 2.411 billion, recorded in 4,091 deals.

Inflation rate moderates at 7.7 per cent in February

During this period, prices increased by 0.75 per cent on a monthly basis.

Subsidy: Nigerian Government pays N41 billion to 27 petrol importers, Okonjo-Iweala says

The Finance Minister said this in a statement by her spokesperson.

Debtor government agencies, ministries to be disconnected from electricity supply – NERC

NERC considers score card and peer review mechanism for electricity GENCOs, DISCOs to benchmark their operations.

Missing $20billion: Nigerian government approves forensic audit of corrupt NNPC

Presidency accuses Sanusi of inciting Nigerians against the government.

Ecobank Transnational Incorporated announces new Group CEO

Albert Essien is the new CEO of the bank.

Zenith Bank posts N95.32 billion profit, declares N1.75 dividend

The profit was a decreased from that of 2012.

Court awards N10 million damages against Airtel for blocking subscriber’s phone line

A court punishes airtel for barring a subscriber’s phone line, serving notice that Nigerians can now challenge some of the illegal actions of telecoms in the country and obtain justice.

Nigerian Breweries, GTBank lead gainers on NSE Monday

Trading opened on a bullish note as market indicators rose by 0.57 per cent.

Nigerian Government opens bids for ten power generation plants

Forty-two prospective investors pre-qualified for the financial bids.

Use of consultants for tax collection by all tiers of Nigerian government illegal, says expert

Mark Abuh described the use of tax consultants as an ‘aberration’.

Nigerian government hands over Olorunsogo power plant to SEPCO

 Vice President Sambo did the handing over.

Text message phone

Shareholders fault NSE, CSCS on X-Alert

Some capital market shareholders have faulted the Nigerian Stock Exchange, NSE, over the introduction of X-Alert in place of Trade Alert without consultations with market stakeholders. They said in separate interviews that the exchange and the Central Clearing Securities System, CSCS, needed to consult with investors before migrating to X-Alert. X-Alert is a new and […]

Nigerian Government approves $170 million loan from France

The government also approved the floating of $300 million Diaspora Bonds.

Nigeria investment authority floats four subsidiaries to fund infrastructure development

NSIA also has interests in funding power projects.

Swiss oil deals: Group asks NNPC to produce certified true copies of documents

ANEEJ made an FOI request.

Nigeria Stock Exchange

Nigerian Stock Exchange cuts transaction costs for traders

Nestle topped the losers chart. The Nigerian Stock Exchange, NSE, has commenced the reduction of the cost of its Trade Alert service by about N1.24 billion from March 2014. This reduction is being achieved through the scrapping of the current charge of 0.06 per cent of every trade on the Exchange and an introduction of […]

CBN

CBN approves closure of 83 micro finance banks

Some of the affected banks were closed because they only existed in paper.

Nigeria has no debt problem, Okonjo-Iweala says

The minister, however, said Nigeria’s domestic debt is very high.

TUC to picket companies for violation of Nigerian labour laws

The Union laments brutality against Nigerian workers by foreigners. The Trade Union Congress, TUC, on Tuesday said it would picket any company involved in the violation of Nigeria’s labour laws. The TUC National President, Bobboi Kaigama, said in Abuja that the congress was determined to protect the right of every Nigerian worker. He said the […]