Business

Nigeria, high risk, high returns market – Guinness

The Lagos Chamber of Commerce and Industry has also stated the challenges of the Nigerian business environment.

World Bank Vice President for Africa to visit Nigeria

The World Bank’s Vice President for Africa, Makhtar Diop, is scheduled to arrive Nigeria on Sunday on his first official visit to the country since his assumption to office last May. The Nigerian office of the Bank said on Thursday that Mr. Diop will hold discussions with key Federal Government officials including President Goodluck Jonathan, […]

CBN

Report foresees single digit inflation rate in Nigeria in 2013

The Financial Derivatives Company, a diversified financial institution, has  stated that the nation’s average rate of inflation will be at a single digit by year end. The firm, in a report which focused on inflation, said  this is due to a number of factors which includes anticipated increase in productivity. “Initial estimates for price inflation […]

CBN

Bank customers get Feb 1 deadline to comply with money laundering law

Most businesses in Nigeria are designated non-financial institutions and will have to register with the Special Control Unit Against Money Laundering.

Dana, Nigeria aviation authorities boycott inquest into plane crash

Dana crashed seven months ago killing all passengers on board and more people on the ground.

Nigeria set to pay N94bn subsidy to 23 petrol marketers

Finance Minister refuted allegations that her ministry is blocking verified payment to marketers.

Dana Air crash, floods jolted insurance industry in 2012 – operator

The disasters in Nigeria in 2012 acted as wakeup call for insurance companies.

Nigeria Central Bank urged to check quack finance houses

The activities of quacks are a challenge to the finance sector.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Beneficiaries of Nigeria’s N22bn Stock Exchange largesse unknown

Nigeria’s finance ministry and stock exchange are ignorant of the beneficiaries.

We are ready for business, Dana Air says

Dana has commenced operations on the Lagos-Abuja route.

Building Collapse Guild urges developers to obey construction standards

There is a high rate of building collapse in the country.

FG to buy 30 aircraft to assist local operators

The Federal Airports Authority of Nigeria (FAAN) has announced government’s plan to buy 30 aircraft as part of its plans to boost the operations of the aviation industry. The Corporate communications General Manager of FAAN, Yakubu Dati, said during an inspection of the renovated Benin Airport on Wednesday, that the fund would be sourced from […]

United Bank for Africa

Nigeria Stock Exchange to suspend UBA shares Thursday

UBA will split in four parts and shareholders will choose which of the constituents to re-invest in.

Obasanjo, Gusau, Imoke, six others behind ALSCON privatisation imbroglio

The ALSCON controversy cannot be explained without mentioning the nine names

Reflections on the last twelve months, By Ifeanyi Uddin

An eventful year ends, much as it began — inauspiciously. Which is sad! For we recall the immediate past not so much for how well off we have turned out (though, arguably, the past twelve months had moments that, had the brave been sufficiently persuaded to try, held out the promise of real redemption). Instead, […]

Ships fuel laden

Palm oil filled ship, 80 others expected in Lagos ports in two weeks

The items in the ship reveal dependence on imported products.

Naira remains relatively stable despite close of official auction

Naira traded at about N158.50 to the dollar as at Thursday.

Fuel scarcity spreads nationwide

NNPC assures Nigerians of adequate fuel supply

Despite long queues at fuel station, NNPC says there will be adequate supply of fuel.

atm-machine-nigeria1

Mobile payment, online transactions to face higher fraud in 2013 – Report

The report said mobile payments, on-line transactions and others face more risk of fraud.

Domestic Terminal, Murtala Muhammed Airport, Lagos

Six years after, domestic wing of Lagos airport gets airfield lighting

The domestic wing of the Murtala Muhammed  Airport, Ikeja, came alive on Tuesday, as the Nigerian Airspace Management Agency (NAMA) successfully deployed the emergency airfield lighting on its runway. The equipment was deployed on the popular 2.7 km runway  ’18 Left’. Supo Atobatele, the General Manager (Public Affairs) of NAMA, announced this to Aviation Correspondents in […]

Mining site used to illustrate the story.

How Nigeria loses billions in solid mineral sector- NEITI report

More that 70 per cent of mining companies in Nigeria are inactive.

INVESTIGATION: Lagos tax agency in secret operations, protects tax evaders

The LIRS said it will not provide details of tax evaders

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Nigeria Stock Exchange undertakes year-end review of Market Indices

The Nigeria Stock Exchange does the review twice a year.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Nigerian Stock Exchange closes for yuletide season

The Nigerian Stock Exchange will re-open on Thursday.

Ifeanyi_Uddin_columnist

November Inflation Numbers, What Significance? By Ifeanyi Uddin

Consumer price indices for November (released last week by the National Bureau of Statistics – NBS) confirm what every housewife/home maker in the country has known for sometime now. Rising food prices, to the extent that these reduce disposable income, are hurting households’ welfare. The choices are easier as you move up the social ladder: […]