The Great Debate

Seven Energy Secures N42.7bn Equity Funding Seven Energy Secures N42.7bn Equity Funding

Seven Energy Secures N42.7bn Equity Funding

  A   Nigerian oil firm, Seven Energy said it has secured about N42.7bn or $255 million in equity funding from global investors, to boost gas supply to the country’s ailing power sector.   Stating that this includes Singapore’s Temasek, it informed that industry operators often attribute shortage of gas for the generating plants as a [...]

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Nyanya Bomb Blast: Condemnations, For How Long? Nyanya Bomb Blast: Condemnations,  For How Long?

Nyanya Bomb Blast: Condemnations, For How Long?

Monday April 14 was another black day for Nigeria, as the nation was thrown into a very mournful mood with an early morning bomb explosion at the ever busy Nyanya mass transit park in Abuja, the nation’s capital city. The explosion, which rocked the capital city at about 6.55 am left about 75 persons dead, [...]

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Illegal Oil Dealer Bags Four Yrs Imprisonment Illegal Oil Dealer Bags Four  Yrs Imprisonment

Illegal Oil Dealer Bags Four Yrs Imprisonment

One Gideon Nuka Vopna, an illegal oil dealer was sentenced to four years imprisonment without any option of fine by Justice U.N Agomoh of the Federal High Court, Port Harcourt Rivers State. Gideon had pleaded guilty to a two-count charge levied against him by the Economic and Financial Crimes Commission (EFCC), bordering on illegal dealing [...]

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Three Suspects Face Trial over Attempted Fraud on Bank Three Suspects Face Trial over Attempted Fraud on Bank

Three Suspects Face Trial over Attempted Fraud on Bank

Three persons who attempted to defraud Diamond Bank of funds through an electronic device called grabber, have been charged to court by the Economic and Financial Crimes Commission, (EFCC).   Godwin Chukwuemeka Ojukwu, Evaristus Moses Oyemah and Kenneth Iweha were last Monday arraigned before Justice S.A. Nwakanma of the High Court of Abia State, Umuahia, [...]

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News

Abuja Residents Flee After Nyanya Bombing

Abuja Residents  Flee After Nyanya  Bombing

    Residents of Nyanya/Mararaba, a suburban of Abuja in the Federal Capital Territory (FCT) weekend fled the area in anticipation of more bombings.   Though, most of them claimed they were travelling to their native towns for the Easter break, observers believe they were fleeing away from the trouble spot.   It would be [...]

Apr 21, 2014 7:28

IT

Explosion in Cloud Services to Hit $100bn by 2015

Explosion in Cloud Services  to Hit $100bn by 2015

Cloud technology has found a fast acceptance in developed and emerging economies around the world.  According to Synergy research, market intelligence for emerging telecom, the sales of cloud equipment grew to USD39 billion in 2011 an increase of 15 per cent over 2010, and the top five vendors that are reaping the large investments in [...]

Apr 23, 2014 12:30

Money World

CBN Orders Branches on Lower Currency Circulation

CBN Orders Branches on  Lower Currency Circulation

  The Central Bank of Nigeria,( CBN) has directed all its branches across the country to deal directly with the public, including business owners, in a move to resolve a lingering scarcity of lower denominations of the naira.   Mr. Isaac Okorafor,   while speaking to journalists at the just concluded  International Monetary Fund (IMF)/World Bank [...]

Apr 23, 2014 13:07

Economy

968 Enterprises Benefit From BOI N25.322bn Loans

968 Enterprises Benefit  From BOI N25.322bn Loans

A total of 968 enterprises in the country have so far benefitted from loan facilities made available by the Bank of Industry (BOI) valued at N25.322bn in the first quarter of 20014.   This was revealed recently by Mr. Waheed Olagunju, the acting managing director/chief executive officer in a document he made available to the [...]

Apr 23, 2014 11:50

Recent Articles

Insurance Experts Lament Over Exclusion in National Confab

Insurance Experts Lament Over  Exclusion in National Confab

  Operators in insurance industry are furious with the Federal Government for sidelining them in the ongoing National Confab, Business World intelligence learnt.   Business World Intelligence  learnt that neither the insurance operators or the brokers has a delegate in the ongoing national conference, even, after several calls and lobby from the industry quotas to [...]

600,000 Nigerians Buy Microinsurance Policy Through Mobile Network Providers

600,000 Nigerians Buy Microinsurance Policy  Through Mobile Network Providers

No fewer than 600,000 Nigerians have subscribed to microinsurance products through the mobile network providers, it was learnt.   A source in the National Insurance Commission (Naicom), noted that at least 100,000 telecommunication subscribers are registered on this scheme every month.   “MTN and Airtel get 100,000 subscribers every month for microinsurance since October,” he [...]

CBN Orders Branches on Lower Currency Circulation

CBN Orders Branches on  Lower Currency Circulation

  The Central Bank of Nigeria,( CBN) has directed all its branches across the country to deal directly with the public, including business owners, in a move to resolve a lingering scarcity of lower denominations of the naira.   Mr. Isaac Okorafor,   while speaking to journalists at the just concluded  International Monetary Fund (IMF)/World Bank [...]

Operating HoldCo get New Guildlines

Operating  HoldCo get  New Guildlines

The Central Bank of Nigeria (CBN)  has unveiled guidelines for operating a Holding Company (HoldCo), as part of efforts to sustain the growth of the banking sector.   Business world unintelligence recalls that HoldCo structure, which was introduced in 2010, permits banks or banking groups to retain non-core banking businesses by evolving into a non-operating [...]

Four Banks, Accugas Sign $170m deal

Four Banks, Accugas Sign $170m deal

FBN Bank (United Kingdom) Limited, Ecobank Nigeria Limited, Union Bank of Nigeria Plc and Union Bank UK Plc have signed a $170m acquisition finance facility with Accugas Limited, a subsidiary of Seven Energy International Limited.   Mr. Kayode Akinkugbe, Managing Director and Chief Executive Officer, FBN Capital Limited, said at the signing ceremony in Lagos [...]

NSE Equities Record Positive Performance

NSE Equities  Record Positive  Performance

    The Equities market closed last Thursday on a positive note, as  Nigerian Stock Exchange (NSE) ASI appreciated by +0.07% to close at 39,325.98 basis points, compared with the appreciation of +0.21% recorded previously.   Its Year-to-Date (YTD) returns currently stands at -4.85%. Market breadth closed positive as AGLEVENT leads 23 gainers against 20 [...]

Ecobank Issues Home Made MasterCard Debit Cards

Ecobank Issues Home  Made MasterCard Debit  Cards

Ecobank Nigeria is in a 10-year partnership with MasterCard for the issuance of debit cards to the bank’s customers in the country.   The deal follows a licensing agreement between the Ecobank Group and MasterCard in January to provide MasterCard payment solutions in 28 sub-Saharan African nations.   According to a statement by Ecobank, the [...]

Global Opportunities: Seplat Beckoning on Oil/Gas Majors

Global Opportunities: Seplat  Beckoning on Oil/Gas Majors

Monday April 14, 2014 was a remarkable day in the history of Nigerian Stock Exchange (NSE), Seplat Nigeria Plc, indigenous upstream Oil/Gas company, listed on the official list of the Exchange, 543 million ordinary share of 50 kobo each, at N576.00 per share.   Two ministers of the federal republic of Nigeria graced the event, [...]

My Advice to Internet Users

My Advice to Internet Users

The internet is being used not only for good, but also for evil. The most vulnerable victims of cyber crime are the elderly, children and people living on the poverty line, who, if scammed, have little chance of recovering the loss. Globally, every day, 1.5 million people are the victims of cybercrime.   While one [...]

Will Nigeria Meet MDG in Water Supply by 2015?

Will Nigeria Meet MDG in  Water Supply by 2015?

    Where is the Master Plan for Water Resource Management for Nigeria? The precarious water supply situation in the country is drawing concern across the land. There is growing worry that the Nigeria might default in meeting the Millennium Development Goals in water supply if proactive measures are not taken now. But analysts are [...]