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Wednesday 12th December 2018,
Hope for Nigeria

Acute liquidity Hits Nigerian Stock Exchange

Acute liquidity has hit the Nigerian Stock Exchange (NSE) as a result of Central Bank of Nigeria (CBN)’s monetary policy which has increased cash reserve requirement on public sector deposit from 50 per cent to 75 per cent. The development [...]

May 5, 2014 Business, General
Abducted Nigerian Girls

Socio-political commentator Adetunji Omotola on abducted Nigerian Girls

The number of kidnapped schoolgirls missing in Nigeria has risen to 276, up by more than 30 from a previous estimate, police said, adding that the actual number abducted by Islamic extremists on April 14 was more than 300. Police [...]

May 3, 2014 General, Media representation

Lagos Hospital Fires 2 Nurses for Wearing Hijab

The National Orthopaedic hospital, Igbobi Lagos (NOHIL) has allegedly fired two nurses for wearing hijab while on duty. The nurses, Sekinat Sanusi and Fasilat Olayinka Lawal, are contesting their dismissal, stating that they wore their hijabs based on a policy set forth by the Nursing and [...]

May 3, 2014 Health issues

‘Nigeria Needs New Housing Policy’

A renowned Nigerian architect, Dr. Lanre Towry-Coker, has called on delegates at the on-going National Conference in Abuja to undertake a clinical review of the 1999 Constitution with regard to the provisions of the Land Use Act, which he said [...]

May 3, 2014 Technology

Nyanya Village Head Wants More Security Deployment

The Village Head of Nyanya in Abuja, Alhaji Haruna Shuaibu, on Friday, urged the Federal Government to deploy more security personnel to his domain to check the spate of bombings in the area. Making the appeal at the scene of [...]

May 3, 2014 Technology

Woman prematurely gives birth aboard plane on Spanish island after flight diverted

Aviation officials say a woman has given birth prematurely aboard a passenger plane after it was diverted to a Spanish resort island. The 30-year-old woman, who was in the 26th week of pregnancy, went into labor during the British Airways [...]

May 3, 2014 International

South African stocks hit life highs, Abil falls on profit warning

South African shares surged to life highs on Friday spurred on by the fastest growth in U.S. job growth data in more than two years, but African Bank took a divergent path, falling precipitously after warning of a half-year loss. [...]

May 3, 2014 Business

Ecobank to scrap dividend after fall

Pan-African lender Ecobank reported a 2013 pre-tax profit of $222 million, down 34 percent on the previous year and said it would not propose a dividend for 2013. Basic earnings per share from continuing operations stood at $0.60 compared to [...]

May 3, 2014 Economy

WTM Africa Supports Responsible Tourism Initiatives

THE inaugural World Travel Market (WTM) Africa, taking place at the Cape Town International Convention Centre (CTICC) from 2nd – 3rd May 2014 is following in the footsteps of its sister event World Travel Market by bringing Responsible Tourism to [...]

May 3, 2014 General

Making history… Port Harcourt finally becomes World Book Capital 2014

History was made Wednesday, April 23, as Port Harcourt, capital of Rivers State, became the first sub-Saharan African City to be named UNESCO World Book Capital. For one week, the bibliophiles, publishers and literary aficionados gathered in the city to [...]

May 3, 2014 General

NBS Warns Against Using GDP To Evaluate Poverty Rate

The National Bureau of Statistics (NBS) has urged Nigerians not to use the rebased Gross Domestic Product (GDP) to evaluate the unemployment and poverty rate in the country. The NBS Statistician-General, Dr Yemi Kale, gave the advice at the Securities [...]

May 3, 2014 Economy

Imoke hands out 5,000 laptops to civil servants

The Cross River State Government has presented 5000 laptops to civil and public servants in its bid to ensure a paperless civil service and build capacity to improve on service delivery. Governor Liyel Imoke, who handed out the laptops  during [...]

May 3, 2014 Technology

Crude Oil Lifting Contracts: Names of 36 Beneficiaries Revealed

The provisional names of the 36 companies that were awarded contracts to lift crude oil by the Federal Government through the Nigerian National Petroleum Corporation (NNPC) from June 1, 2014 to May 31, 2015 have been revealed. Although the list [...]

May 3, 2014 Oil & Gas

‘Inflation, interest rate stifle poultry growth’

The troubled poultry industry is not poised for a turnaround, the Vice-President (Agriculture) Association of Small Business Owners of Nigeria (ASBON), Mr Stephen Oladipupo,  has said. According to him, progress in the industry is stifled by inflation and high interest [...]

May 2, 2014 Economy

Illegal fishing causing job losses, say expert, report

Illegal fishing is causing the nation job losses  considering the number of households depending on the industry for their livelihood, a fisheries expert, Prof Martins Anetekhai, has said. Anetekhai, who is the former Dean ,Faculty of Science,Lagos State University (LASU), [...]

May 2, 2014 Economy

‘Why Nigeria cannot export cassava’

Nigeria cannot export cassava because of the high cost of production, Country Manager, Harvest Plus, Paul Ilona, has said. He said it is not profitable for farmers to export cassava at $220 (about N36,520) per tonne when locally the farmers spend [...]

May 2, 2014 Agriculture, Business

Health workers give govt 15-day strike notice

Health workers give govt 15-day strike notice – Health workers have issued a 15-day ultimatum to the Federal Government to implement outstanding agreements it entered into with them. They said they would go on an indefinites strike, if the government [...]

May 2, 2014 Economy

FG’s financial safety nets threatened as FIRS Q1 non-oil revenue down 25%

FG’s financial safety nets threatened as FIRS Q1 non-oil revenue down 25% – Federal Government’s financial safety nets are threatened as the Federal Inland Revenue Services (FIRS) revenue results for non-oil sector for the first quarter of 2014, show a [...]

May 2, 2014 Economy

National Conference Energy Committee Summons New

National Conference Energy Committee Summons New – As part of the efforts to find lasting solutions to the emerging challenges facing the private investors who acquired the distribution assets of the defunct Power Holding Company of Nigeria (PHCN), the National [...]

May 2, 2014 Economy

MTN, Etisalat, Airtel, Others To Push Mobile Money In Africa

MTN, Etisalat, Airtel, Others To Push Mobile Money In Africa – Nine Global System for Mobile communications (GSM) operators have said they would  work together to accelerate the implementation of interoperable mobile money services across Africa and the Middle East [...]

May 1, 2014 Technology, Telecomms

NERC Waives Fixed Charge Over Frequent Blackouts

NERC Waives Fixed Charge Over Frequent Blackouts – With effect from today May 1, the Nigerian Electricity Regulatory Commission (NERC) has directed that electricity consumers would  no longer pay the monthly fixed charge where they do not have power supply [...]

May 1, 2014 Power

Made-in-Nigeria Stallion-Nissan Vehicles Debut

Made-in-Nigeria Stallion-Nissan Vehicles Debut – West African conglomerate, Stallion Group, successfully rolled out its first Nissan-branded vehicle from its Lagos assembly plant in a landmark development pursuant to Nigeria’s recent policy announcement. Stallion is Nissan’s exclusive distributor in Nigeria and [...]

May 1, 2014 Technology

18,000 Women Get N600m Loan In Osun

18,000 Women Get N600m Loan In Osun – It was with fanfare and joy that women in Osun State trooped to the Freedom Park venue of empowerment programme of the state where 18,000 of them received N40,000 each totaling N600million. [...]

May 1, 2014 Economy

Sterling Bank To Increase Share Capital To N16bn

Sterling Bank Plc has gotten shareholders’ approval to increase the authorised share capital of the bank from N12 billion to N16 billion to enhance its ability to finance big projects. The shareholders gave their support at the bank’s Annual General [...]

May 1, 2014 Economy

Access Bank To Raise $1bn, Shuts Unprofitable Subsidiaries

Access Bank To Raise $1bn, Shuts Unprofitable Subsidiaries – The Group Managing Director and Chief Executive of Access Bank Plc, Herbert Wigwe, has said the bank would be closing some of its subsidiaries outside Nigeria that were not adding value, [...]

May 1, 2014 Economy

NSE Market Indices Record Marginal Growth

NSE Market Indices Record Marginal Growth – Transactions on the Nigerian Stock Exchange (NSE) on Wednesday closed flat with the All-Share Index recording a marginal growth of 0.01 per cent after dropping for two consecutive days. The News Agency of [...]

May 1, 2014 Economy

AMCON DEBT RECOVERY HITS 112%, SAYS CHIKE-OBI

AMCON DEBT RECOVERY HITS 112%, SAYS CHIKE-OBI – The Asset Management Corporation of Nigeria (AMCON) has recovered 112 per cent of its debt, its Managing Director/Chief Executive Officer, Mr. Mustapha Chike-Obi  said Wednesday. Speaking at a symposium organised by the [...]

May 1, 2014 Economy

Mergers, acquisitions driving in-roads into new insurance markets

Securing new operational license for starting insurance business in most markets have become increasingly difficult and almost a non-option, a situation that has led to a growing number of mergers and acquisitions as the working strategy for new entrants, investigations [...]

April 30, 2014 Economy

Oil firms to submit Kenyan development plans next year

British explorer Tullow Oil and partner Africa Oil Corp aim to submit development plans to the government late next year for their oil discovery in the northwest of the country, executives from the firms said Tuesday. Oil discoveries in Uganda [...]

April 30, 2014 Oil & Gas

Nigeria: Rotten Fish Galore

A SEARCHLIGHT on fish importers by the Federal Ministry of Agriculture has revealed the prevalence of bad fish in the cold rooms and markets. The Minister of Agriculture, Dr. Akinwunmi Adesina, weeks ago, had undertaken unscheduled visits to cold-rooms and [...]

April 30, 2014 Business
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