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  • VIV announces animal protein summit for Nigeria

    December 16, 2013 12:47 PM 16

    The meeting will be held on 15 January 2014 in Abuja, the capital city of the Nigerian Federation and its political centre. Farmers and integrators from throughout the country are registering to attend, as well as processors, retailers, government officials and representatives of the feed business. With a population expected to grow to 700 million by 2050 and a strong

  • CBN Approves Change Of Name For Police Mortgage Bank

    December 16, 2013 12:33 PM 6

    The Central Bank of Nigeria (CBN) has approved the change of name of the Police Fokas Saving and Loan Ltd to the Nigeria Police Mortgage Bank Ltd. The Abeokuta-based Police Fokas Saving and Loan Ltd, which was acquired by the police, was a primary mortgage institution. The approval is contained in a statement issued on Monday in Abuja by SP Abayomi

  • FG releases New import guidelines at the ports and borders post nationwide

    December 16, 2013 6:18 AM 19

    In a bid to curb importation of fake products into the country, the Federal Government has issued fresh guidelines for cargo clearance at the ports and borders post nationwide. A memo dated December 3, the Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala direwcted the Comptroller-General of Customs, Alhaji Dikko Abdullahi

  • Crude Oil Benchmark: Senate, Reps May Opt For Joint Sitting

    December 16, 2013 6:18 AM 16

    Following the failure of the Senate Harmonisation Committee and that of the House of Representatives on Medium Term Expenditure Framework (MTEF) to come to a compromise on the benchmark for crude oil in 2014 budget, the lawmakers may go for voting in a joint sitting presided over by the senate president. Recall that both committees last week failed to harmonise

  • Dangote Targets 150,000 Jobs with Integrated Sugar Production, Articles

    December 16, 2013 4:32 AM 15

    The management of Dangote Sugar Group has revealed that the company would employ over 150,000 new staff members to work in its new sugar plantations in about six states of Sokoto, Kebbi, Jigawa, Taraba, Kogi and Kwara. The company also announced the appointment of a new group Managing Director for the Dangote Sugar Group, Mr. Graham Clark, and also announced

  • PHCN Legacy Workers’ Fate Worries NERC

    December 16, 2013 4:16 AM 8

    There is confusion in the Nigerian Electricity Supply Industry (NESI) over the status of legacy staff of the now defunct Power Holding Company of Nigeria (PHCN). The workers who were disengaged following the privatisation of the PHCN successor companies are yet to be officially served their severance letters despite having been paid their severance packages

  • Ecobank Capital, Others Raise $500m Facility for Firm, Articles

    December 16, 2013 3:22 AM 5

    Ecobank Capital, the investment banking arm of the Ecobank Group at the weekend disclosed it recently raised $500 million for Orion Oil Limited. While Ecobank Capital acted as the Mandated Lead Arranger, the United Bank for Africa (UBA) Plc was the co-arranging bank. Participating lenders were Afreximbank, BGFIBank Group, UBA Group, Banque Atlantique

  • Re-aligning Domestic Policy Making, By Ifeanyi Uddin

    December 16, 2013 12:15 AM 6

    In a meeting last week with personnel from one of the bigger investment banking outfits operating out of the United States of America, I was gifted an insight into the source of the often annoying dissonance between “foreign analyst’s” perception of the economy, and my sense of it. The background to the meeting was that this person, previously of the International

  • EFCC uncovers how ex-Head of Service, Oronsaye, others allegedly stole N6 billion

    December 15, 2013 11:09 PM 12

    The Economic and Financial Crimes Commission, EFCC, has uncovered how Steve Oronsaye, a former Head of Service, and other top directors of the Nigerian civil service colluded to allegedly defraud the nation of about N6.2 billion pension fund. The fund, allegedly stolen through a maze of bogus contracts, was meant for biometric enrollment and payment

  • Mismanagement of Service Wide Vote Worries House of Representatives, Articles

    December 15, 2013 11:00 PM 8

    The House of Representatives has said it is worried over the way and manner in which between N900 billion to N1 trillion were withdrawn from the Service Wide Vote accounts between 2004 to 2012 with nothing to show for it. The Chairman of the House Committee on Public Accounts, Solomon Adeola Olamilekan, disclosed this when he received audit queries issued