Election 2015:Banks to Stop Lending to Govts, Individuals Election 2015:Banks to Stop Lending to Govts, Individuals

Election 2015:Banks to Stop Lending to Govts, Individuals

Banks may have issued guidelines to their credit committees to stop all forms of lending to governments and politically exposed individuals between now and march, in an effort to reduce their exposure to very bad loans. This development trails the high-pitch political trend that is believed to have been fuelled by huge funding from political [...]

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N220bn MSMEs Fund: Bank’s Unfriendly Attitude Exposed N220bn MSMEs Fund:  Bank’s  Unfriendly Attitude Exposed

N220bn MSMEs Fund: Bank’s Unfriendly Attitude Exposed

While many have seen the creation of N220 billion Micro, Small and Medium Enterprises (MSMEs) Development Fund  by The Central Bank of Nigeria (CBN) as a commendable step,  Business World intelligence have gathered that banks are unwilling to cooperate with the apex bank to disburse this fund. Business world intelligence notes that the matter is [...]

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Special Funds Should Be Created For the Entertainment Industry – Okumagba Special Funds Should Be Created For the  Entertainment Industry – Okumagba

Special Funds Should Be Created For the Entertainment Industry – Okumagba

Alignment of CIS conference theme with the entertainment industry The theme of the conference was borne out of a number of factors. One, there is the belief that the entertainment industry has not really benefited from the capital market. The coverage and spread of Nollywood and the Nigerian music industry without any doubt, goes beyond [...]

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The Task before Financial Reporting Council of Nigeria The Task  before  Financial  Reporting  Council of  Nigeria

The Task before Financial Reporting Council of Nigeria

For two days – December 4 and 5 – the Financial Reporting Council of Nigeria (FRCoN), under the aegis of the federal Ministry of Industry, Trade and Investment, held its 11th Summit and Dinner at Sheraton Hotels and Towers, Ikeja, Lagos. The event was designed for chief executives and top managers of quoted and unquoted [...]

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News

BusinessWorld Unveils 2014 Corporate Achievement Award Winners

BusinessWorld Unveils 2014 Corporate Achievement Award Winners

BusinessWorld newspaper has unveiled the names of corporate organisations and individual achievement awards winners for the year 2014. The 2014 corporate award winners were selected from Businessworld ‘Top Nigerian 100 Companies’, a special publication of the newspaper, which researches on the performance of publicly-held companies in Nigeria and their ranking with respect to assets, revenue, [...]

Dec 15, 2014 11:23

IT

Telecom Service in Rural Areas

Telecom Service in Rural Areas

By Lawson Ovih   The ongoing telecom revolution in the country, which has been praised on the continent and beyond, has not been strongly felt in the rural areas in terms of effective network coverage, despite rollout of services by telecom operators. Though, this is attributed to the prevailing conditions in the operating environment where [...]

Dec 8, 2014 16:09

Money World

Banks Attract 5.3m Customers in 2 Years

Banks Attract 5.3m Customers  in 2 Years

Stories by Niyi Jacobs   A recent report has shown that a total of 5.3 million unbanked adults opened bank accounts between 2012 and 2014 According to the Access to Financial Services in Nigeria 2014 survey, the number of Nigerian adults nationwide who are banked has increased from 28.6 million in 2012 to 33.9 million [...]

Dec 15, 2014 11:56

Economy

Judiciary Autonomy: FG Signs MoU to Implement Court Judgement

Judiciary Autonomy: FG Signs MoU to  Implement Court Judgement

The Judiciary Staff Union of Nigeria (JUSUN) planned strike of December 1, to press home their demand for the implementation of the court judgement, which granted financial autonomy to the third arm of the government-The Judiciary, was averted due to positive outcome of meetings held between representatives of the federal government and the leadership of [...]

Dec 15, 2014 7:39

Recent Articles

Election 2015:Banks to Stop Lending to Govts, Individuals

Election 2015:Banks to Stop Lending to Govts, Individuals

Banks may have issued guidelines to their credit committees to stop all forms of lending to governments and politically exposed individuals between now and march, in an effort to reduce their exposure to very bad loans. This development trails the high-pitch political trend that is believed to have been fuelled by huge funding from political [...]

N220bn MSMEs Fund: Bank’s Unfriendly Attitude Exposed

N220bn MSMEs Fund:  Bank’s  Unfriendly Attitude Exposed

While many have seen the creation of N220 billion Micro, Small and Medium Enterprises (MSMEs) Development Fund  by The Central Bank of Nigeria (CBN) as a commendable step,  Business World intelligence have gathered that banks are unwilling to cooperate with the apex bank to disburse this fund. Business world intelligence notes that the matter is [...]

The Task before Financial Reporting Council of Nigeria

The Task  before  Financial  Reporting  Council of  Nigeria

For two days – December 4 and 5 – the Financial Reporting Council of Nigeria (FRCoN), under the aegis of the federal Ministry of Industry, Trade and Investment, held its 11th Summit and Dinner at Sheraton Hotels and Towers, Ikeja, Lagos. The event was designed for chief executives and top managers of quoted and unquoted [...]

Special Funds Should Be Created For the Entertainment Industry – Okumagba

Special Funds Should Be Created For the  Entertainment Industry – Okumagba

Alignment of CIS conference theme with the entertainment industry The theme of the conference was borne out of a number of factors. One, there is the belief that the entertainment industry has not really benefited from the capital market. The coverage and spread of Nollywood and the Nigerian music industry without any doubt, goes beyond [...]

Judiciary Autonomy: FG Signs MoU to Implement Court Judgement

Judiciary Autonomy: FG Signs MoU to  Implement Court Judgement

The Judiciary Staff Union of Nigeria (JUSUN) planned strike of December 1, to press home their demand for the implementation of the court judgement, which granted financial autonomy to the third arm of the government-The Judiciary, was averted due to positive outcome of meetings held between representatives of the federal government and the leadership of [...]

Ghanaian Firm Helps to Strengthen Ties with Nigeria

Ghanaian Firm Helps to Strengthen Ties with Nigeria

  Stories by Lawson Ovih A Ghanaian-owned firm, Kasapreko Company Nigeria Limited, makers of the hugely popular Alomo Bitters, has reiterated its commitment to promoting economic collaboration and development between Nigeria and Ghana. The company has made a donation of one million naira to the National Association of Ghanaian Communities in Nigeria (Naghacon), which has [...]

NCC’s Broadband Model would be Politically Induced — NIG President

  By Lawson Ovih Engineer Bayo Banjo, president of the Nigeria Internet Group (NIG), has criticized the move by the Nigerian Communications Commission (NCC) to create infrastructure companies for the deployment of metropolitan fibre infrastructure in the country through its open access model, on the grounds that it would be politically induced. Speaking on how [...]

BPE: Oil & Gas, Power, Transport to Gulp $113bn in 6 Yrs

By Benjamin Orisemeke   The Bureau of Public Enterprises (BPE) has said that for Nigeria to develop its three critical infrastructure of Oil and Gas, Power and Transport, an additional $113 billion is needed in the next six years. The Director General of Bureau of BPE, Mr. Benjamin Ezra Dikki, who stated this in a [...]

Air Safety: NAAE Wants More Engineers Employed

Air Safety: NAAE Wants  More Engineers Employed

By Pearl Ngwama   The National Association of Air Traffic Engineers (NAAE) has asked the federal government to engage more engineers to replace those that would be disengaged from the system next year. The association said taking a proactive step of employing professionals would go a long way to cushion the effect of the retiring [...]

Uniuyo Sets Up Committee for Farm Project

By  Patrick Effiong, Uyo   Prof. Comfort Ekpo, Vice Chancellor of University of Uyo, Akwa Ibom state has said a technical committee to draw up a policy for integrated farm project for the institution has been put in place, just as an area of 100 hectares of land has also been demarcated for the project. [...]

Akwa Ibom Distributes 2.4m Textbooks to Post-primary School Students

By  Patrick Effiong, Uyo   Akwa Ibom state government has procured 2.4 million essential secondary textbooks and distributed them to students in both public and private secondary schools in the state. The gesture is parts government continued efforts to strengthen and reinforce the implementation of the national policy on education as well as ensure access [...]

N3.1bn Subsidy Scam: EFCC Re-arraigns Mahmud Tukur, Alao, Four Others

N3.1bn Subsidy Scam: EFCC  Re-arraigns Mahmud Tukur,  Alao, Four Others

The Economic and Financial Crimes Commission (EFCC) last Wednesday re-arraigned the trio of Mahmud Tukur, Ochonogor Alex, Abdullahi Alao and their companies, Eterna Plc, Axenergy, and Star Inspection Services  Nigeria Limited, on 38-amended count charges bordering on conspiracy, obtaining money under false pretence and forgery. The accused persons allegedly colluded among themselves and obtained N3,121,393,098 [...]

EFCC Docks Man, Prison official for Employment Scam

The Economic and Financial Crimes Commission (EFCC), last Wednesday, arraigned one Michael Ogun popularly known as Idris Suleiman, before Justice Olubukola A. Adeniyi of the Federal Capital Territory High Court Apo, Abuja, for offences bordering on forgery. The accused was alleged to have extorted money from members of the public on the pretence of offering [...]

Expect Effective Representation, Ndukwe Assures Anambra South

Engr. Ernest Ndukwe has promised to effectively represent Anambra South in the Senate if elected in the February, 2015 polls. This promise he made, as a result of the overwhelming support he garnered at the recently conducted senatorial primaries under the platform of All Progressives Grand Alliance (APGA) as winner of the ticket. In a [...]

UNHCR Spends Over $7m On IDPs In Nigeria

By Benjamin Orisemeke   The United Nations High Commission for Refugees (UNHCR) said it has spent over $7 million in 2014 as support to Internally Displaced Persons (IDPs) in Nigeria. It is estimated that of the over 1.5 million IDPs, only 868,235 are officially registered. UNHCR adds that of that figure, 2,557 are refugees of [...]

SMILE Unveils Yuletide Promo

Leading broadband service provider; Smile Communications Nigeria Limited has announced a 25-day promo titled “The Smile Countdown Promo.” Perceived by industry observers as a worthwhile yuletide offer, Smile is giving more value for the duration of the promo, by a Wifi Router with 20GB and 12 months validity for N23, 000. This is against the [...]

Feared Natural Gas Rally Short-Circuited by Cool Summer

Feared Natural Gas Rally Short-Circuited by Cool Summer

Rig hands thread together drilling pipe at a hydraulic fracturing site owned by EQT Corp., atop the Marcellus shale rock formation in Washington Township, Pennsylvania.   According to Bloomberg, rig hands thread together drilling pipe at a hydraulic fracturing site owned by EQT Corp., atop the Marcellus shale rock formation in Washington Township, Pennsylvania.   [...]