Petroleum: Nigerians Demand Price Reduction in All Products Petroleum: Nigerians Demand  Price Reduction in All Products

Petroleum: Nigerians Demand Price Reduction in All Products

By John Meze   Nigerians want the federal government to effect an across-the-board reduction in the prices of petroleum products, not just petrol. Consumers who spoke to BusinessWorld said government’s reduction of the pump price of petrol was partial, since there are other products that are derived from crude oil. They specifically mentioned kerosene, which [...]

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Nigerian Businessman in Multiple Court Judgement Row Nigerian Businessman in Multiple Court Judgement Row

Nigerian Businessman in Multiple Court Judgement Row

By BusinessWorld Economic Intelligence Unit   Various United States Courts have exposed a leading Nigerian Businessman, Reuben Jaja, as a serial tax evader by levying judgement against him in about 15 cases. Official documents show that Jaja has consistently failed to pay appropriate taxes as recommended by the US Federal Government and Californian State Government. [...]

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Nants Carpets Ecowas for Signing EPA Nants Carpets  Ecowas for  Signing EPA

Nants Carpets Ecowas for Signing EPA

By Benjamin Orisemeke   The National Association of Nigerian Traders (Nants) has blasted leaders of the Economic Community for West African States (Ecowas) for secretly signing the Economic Partnership Agreement (EPA). In an open letter to the heads of state of Ecowas signed by the president of the National Association of Nigerian Traders (Nants), Ken [...]

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UBA Leads e-Banking Innovation with Mobile POS (mPOS) UBA Leads e-Banking Innovation  with Mobile POS (mPOS)

UBA Leads e-Banking Innovation with Mobile POS (mPOS)

United Bank for Africa (UBA) Plc has again proven its leadership position in e-Banking with the introduction of mobile Point of Sale (mPOS) terminals. UBA has gone live with this initiative in partnership mPOS partners across Africa. A mobile POS terminal is about the size of Blackberry Curve phone, but works just like the traditional [...]

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News

Nants Carpets Ecowas for Signing EPA

Nants Carpets  Ecowas for  Signing EPA

By Benjamin Orisemeke   The National Association of Nigerian Traders (Nants) has blasted leaders of the Economic Community for West African States (Ecowas) for secretly signing the Economic Partnership Agreement (EPA). In an open letter to the heads of state of Ecowas signed by the president of the National Association of Nigerian Traders (Nants), Ken [...]

Jan 26, 2015 7:03

IT

Legal World Lags Digital Reality

Legal World Lags Digital Reality

The virtual world is becoming an increasingly vital part of our lives, but has yet to be effectively regulated. This creates a quandary for courts and legislatures grabbling to apply real-world laws to virtual transactions. This is according to a write-up by Webber Wentzel, which argues the virtual world is increasingly overlapping with the bricks [...]

Jan 26, 2015 12:13

Money World

CBN/JP Morgan Meeting Excites Market Operators

CBN/JP Morgan Meeting  Excites Market Operators

By Niyi Jacobs   Market operators in Nigeria have applauded the proposed meeting between the Central Bank of Nigeria (CBN) and JPMorgan, describing it as a welcome development. The meeting, which is to ensure that Nigerian bonds remain on its Emerging Markets bond index (GBI –EM), is as a result of the recent negative watch [...]

Jan 26, 2015 8:48

Economy

Sona Foods Expands Business with Digestive Biscuits

By Pearl Ngwama   Sona Agro Allied Foods’ (Saaf) has boosted its production capacity with the introduction of the new Sona digestive biscuit into the Nigerian market. Mr. Subramaniam Murugesan, managing director, Sona Agro Allied Foods, who spoke about the new product recently, said: “Sona Digestive biscuits was borne out of our desire to provide [...]

Jan 21, 2015 7:39

Recent Articles

CBN/JP Morgan Meeting Excites Market Operators

CBN/JP Morgan Meeting  Excites Market Operators

By Niyi Jacobs   Market operators in Nigeria have applauded the proposed meeting between the Central Bank of Nigeria (CBN) and JPMorgan, describing it as a welcome development. The meeting, which is to ensure that Nigerian bonds remain on its Emerging Markets bond index (GBI –EM), is as a result of the recent negative watch [...]

CBN to Sanction DMBs over Non-compliance with Windows 7

The Central Bank of Nigeria (CBN) may sanction banks over their failure to migrate their automated teller machines (ATM) from Windows XP to Windows 7 operating system. Businessworld gathered that barely two weeks to the expiration of the January 31 deadline set by the CBN for banks to migrate all their ATMs to Windows 7, [...]

CBN Bars Forex Through RDAs for BDCs

By Niyi Jacobs   The Central Bank of Nigeria (CBN) has prohibited the sale of foreign exchange purchased through the Retail Dutch Auction System (RDAS) and inter-bank market to bureaux de change (BDC) and authorised dealers, in a continued effort at curtailing excess liquidity speculative activities. According to the apex bank, this is to ensure [...]

NSE Removes Goldlink from Delisted Companies’ List

NSE Removes Goldlink from Delisted Companies’ List

By Niyi Jacobs   The Nigerian Stock Exchange (NSE) has given a clean bill of health to Goldlink Insurance Plc, following a quick response from its management to the warning list issued by the exchange to delist some companies in which the company was mentioned. The NSE posted list of companies to be delisted on [...]

Bank’s Customers seek Investigation to ATM Hitches

By Niyi Jacobs   The Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS) have been called upon to investigate the circumstances that led to irregularities and switch failures from Automated Teller Machines of most banks during the Yuletide season. During the period, most banks’ ATMs were said to have malfunctioned, and caused [...]

Can Heritage Transfer its Heritage?

Can  Heritage Transfer its Heritage?

Towards the end of 2014, Assets Management Corporation of Nigeria (Amcon) announced   Heritage Bank as winner of the bid for the acquisition of Enterprise Bank, one of the bridged banks managed by the corporation. The announcement jolted the banking industry, as it re-drew the picture and shape of Heritage Bank in the industry Many financial [...]

‘CBN’s Policies, Oil Price Could Shape 2015’

‘CBN’s Policies, Oil Price Could Shape 2015’

United Capital Plc said the Central Bank of Nigeria, (CBN)’s aggressive monetary policy, falling crude oil prices, tightening by the election scenarios, and variability in foreign portfolio flows are factors that will shape the financial sector this year. A new report by the company points out that activities in the financial markets are likely to [...]

Access Pledges to Support SMEs

By Niyi jacobs   Access Bank Plc has reiterated its commitment to financial empowerment for Small and Medium-sized Enterprises (SME’s) for Women and Youths in Africa. Mr. Herbert Wigwe, Chief executive officer, Access bank plc hinted this during a  roundtable Business meeting in Lagos. Wigwe, who was represented by Victor Etuokwu; Executive Director, Personal Banking [...]

Sterling Bank backs Social Media Award

Sterling Bank backs Social Media Award

  Sterling Bank’s had sponsored Social Media Awards Africa  which was  held in Lagos on Saturday over the weekend. Mr. Toby Daniels, Chairman of the Award Advisory Board and founder, Social Media Week arrived in Lagos for the ceremony. Others  important personalities present include Fred Swaniker, Founder, African Leadership Academy and Eric Chinje, Chief Executive [...]

BoI Partners Ecobank on SME Funding

  Bank of Industry (BoI) has signed a memorandum of understanding (MoU) with Ecobank Nigeria to provide loans at low interest rate to the sub-sector. Mr. Rasheed Olaoluwa, Managing Director/Chief Executive, BoI, while speaking at the event in Lagos recently, said Ecobank and nine other banks in the country were selected based on their support [...]

Banks Panic as Non-performing Loans Set to Rise to 4 .6% in 2015

Banks Panic as Non-performing  Loans Set to Rise to 4 .6% in 2015

By Niyi Jacobs A group of financial analysts in Vetiva Capital Management Limited says the banking sector, while attractive with low valuations, will have to navigate a difficult operating environment in 2015, as regulatory actions amid economic challenges will limit loan growth. “With the continuous decline in global oil prices, banks’ exposure to the oil [...]

CBN vs JP Morgan: Who is Right on Nigerian Economy?

CBN vs JP Morgan:  Who is Right on Nigerian Economy?

By Niyi Jacobs   The fortune of the national currency, naira, made a sharp, downward spiral in 2014, despite spirited efforts by the Central Bank of Nigeria (CBN) to shore up its value. This development, coupled with falling oil prices and massive production losses at various oil terminals, have led to a drop in the [...]

FBN Microfinance Bank Boosts Savings Culture

FBN Microfinance  Bank Boosts  Savings Culture

FBN Microfinance Bank, a subsidiary of FBN Holdings, says it is committed to promoting savings culture in the country. Mrs. Pauline Nsa, Managing Director, FBN Microfinance Bank, who stated this in Lagos at the bank’s annual interactive session with customers, said better savings culture would enhance customers’ ability to effectively tackle financial challenges. As a [...]

Trader wins car in Nestle Shoppers’ Promo

Trader wins car in Nestle  Shoppers’ Promo

The final draw for Nestle Nigeria Plc’s Year End Shoppers’ Bag Promo was held in Ibadan on Wednesday with a trader, Tiwalade Bukola, wining the star prize of a new Hyundai Accent car. Aside the star prize winner, Mr. and Mrs Akinwumi Adeagbo were also double winners as the couple went home with an air [...]

Positive Market Sentiments Trigger Rebound as NSE- ASI Gains 2.68%

Bonny Amadi   Positive sentiment expressed by Nigerian entrepreneurs at the World Economic Forum (WEF) in Davos ostensibly triggered positive market sentiment which buoyed performance indices of the Nigerian Stock Exchange (NSE). The demand pressure which the positive Nigerian market environment conveyed at the forum elicited, demand against supply resulting to boost in key market [...]

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.   [...]