The Nigerian currency was unchanged at 162.95 naira at Monday’s market close, after the regulator asked banks for bids to sell the greenback in a move to quell dollar shortages and support the naira, dealers said. The local unit opened at 163.05 naira to the U.S. currency, and weakened further to 163.50 naira intraday on strong demand, prompting central bank’s interest.
Updated 4 Years ago

Share price gains recorded yesterday by Seplat Petroleum Development Company plc, Dangote Cement plc, Lafarge Cement WAPCO plc, PZ Cussons plc, and Ashaka Cement plc helped in the stock market’s 0.24 percent gain. Seplat Petroleum Development Company plc led the pack of gainers after its share price rose by N5, from N670 to N675, followed by Dangote Cement plc which rose from N215.1 to N219.99, after adding N4.89.
Updated 4 Years ago

First Bank is the Nigeria’s oldest and largest bank with 117 years of operational history in Africa’s most populous country. The bank commenced operations in Nigeria on 31 March 1894 as a branch of the Bank of British West Africa Limited, and was incorporated as a primary limited liability company in Nigeria in 1969.
Updated 4 Years ago

The Nigerian Economic Summit Group (NESG) and the United Nation Global Compact (UNGC) are poised to launch the Business for Peace (B4P) initiative in Nigeria to expand and deepen private sector action in support of peace in the workplace, marketplace and local communities. B4P, which is a business leadership platform launched by UN secretary-general Ban Ki-moon, will assist companies implement responsible business practices aligned with the UN Global Compact Ten Principles in conflict-affected and high-risk areas and catalyse action to advance peace.
Updated 4 Years ago

CAMAC Petroleum Limited, a wholly-owned subsidiary of the United States-based CAMAC Energy Inc., has entered into a credit facility with Zenith Bank plc for a five-year senior secured term loan providing initial borrowing capacity of up to $100 million. Proceeds from the term loan facility will be used for further expansion and development of Oil Mining Leases (OMLs) 120 and 121 offshore Nigeria, including the Oyo Field.
Updated 4 Years ago

With the launch of Asseco Nigeria, a subsidiary of the Asseco Group, a leading software company in Central and Eastern Europe and the sixth largest technology company in Europe, the Nigerian technology industry is expected to get a further boost. Simon Melchior, chief executive, Asseco Nigeria, who doubles as its West African representative, said at the weekend in Lagos that the Asseco Group had grown rapidly through the past decade and was now in over 40 countries with 17,000 employees worldwide.
Updated 4 Years ago

Of the many challenges banks face as we move into the second decade of the 21st century, dealing with cyber attacks is chief among them. Cyber security experts have predicted an increase in cyber crimes in 2014 in line with the growing usage of the internet.
Updated 4 Years ago

The Northern Elders Council (NEC) yesterday condemned what it called outrageous and uncharitable statements made by the Chairman of the Arewa Consultative Forum (ACF), former Inspector General of Police (IG), Alhaji Ibrahim Coomasie, against President Goodluck Jonathan. Addressing a press conference in Abuja yesterday, the Chairman of NEC, Alhaji Tanko Yakasai, who was a foundation member of the ACF, said the group had completely derailed from the mission and vision of its founding fathers.
Updated 4 Years ago

Ahead of the 2015 general election, Governor Rabiu Kwankwaso of Kano State has visited the Kogi State leader of the All Progressives Congress (APC), Abubakar Audu, to solicit for his support and delegates of the party from the state to vote for him during the presidential primary election of the party. A delegation of the ‘Nigeria Project 2015’, the presidential campaign organ of Kwankwaso, yesterday visited Audu in his residence in Lokoja, the Kogi State capital, where they held a closed-door meeting which lasted for five hours.
Updated 4 Years ago

As part of the strategy to adopt and ratify the guidelines for various primary elections of their party, the governors elected on the platform of the Peoples Democratic Party (PDP) would tomorrow meet to harmonise their positions preparatory to the meeting of the National Executive Committee (NEC) slated for Thursday. Already, the meeting of the Board of Trustees (BoT) is scheduled for today while the National Caucus of PDP would meet tomorrow.
Updated 4 Years ago