The rising incidence of electronic fraud in the banking industry has remained a source of concern to operators in the industry. Data gathered by the Financial Institutions Training Centre (FITC) showed that electronic fraud has been on an upward trend since 2010. This is even more worrisome because the increase has been both in terms of number, volume and sophistication, as the fraudsters have adopted high powered technology.
Updated 6 Years ago

Apparently worried by the outcome of the 2015 election foreign investors are beginning to scale down their level of investment in Nigeria as witnessed by marked slowdown in investment inflows in first quarter of this year. THISDAY investigation revealed that the failure by the national assembly to pass the Petroleum Industry Bill has also played a major role in the slowdown of foreign investment into the country.
Updated 6 Years ago

Ejiofor Alike in Lagos and Chineme Okafor The recently constituted National Council on Power (NCOP) has recommended that a minimum of N160 billion be made available to the Transmission Company of Nigeria (TCN) to take care of its annual expenditure on operations. NCOP however stated that about 75 per cent of such fund, depending on its source should be expended on meeting the capital expenditure (Capex) of TCN in ramping up its electricity wheeling capacity in Nigeria’s Electricity Supply Industry (NESI).
Updated 6 Years ago

The Director General, Debt Management Office (DMO), Dr. Abraham Nwankwo, has said a total of nine bonds worth $3.4 billion were issued in the international capital market by some Nigerian companies. He added that about 22 Nigerian companies had raised over N223 billion from the domestic market between 2007 and 2013.
Updated 6 Years ago

It's a summer weekend and you're savoring another barbecue or a wonderful stroll by the beach and thinking, "How do I carve out more moments like this? If I only could be more productive during the work week" To help you in your quest, we polled some Entrepreneur.com contributors for their topproductivity hacks. See if any resonate for you.
Updated 6 Years ago

Organic, local and sustainable all have their places in the craft distilling movement. How about energy efficient? It's a priority for Industry Standard vodka (about $37)—which is, as the bottle reads in part, "made by nerds." "The entire goal of the distillery was to make the most product in the smallest square footage using the least amount of power, all while making fantastic product," David Kyrejko, one of the distillers, told CNBC.
Updated 6 Years ago

The South African Department of Trade and Industry (the dti) is investing in the creation of Black Industrialists. A strategy the DTI is pursuing is to centralise BEE accreditation and look at ways to take this function in-house. This move is inline with the South African National Government’s target of creating 100 hundred Black industrialists in the next three years.
Updated 6 Years ago

Kenya Airways (KQ) has finally succumbed to pressure by suspending flights to Ebola-hit Liberia and Sierra Leone where a combined death of 761 have been recorded. The suspension will take effect from 12:00am on Tuesday, August 19, 2014, the national carrier announced on Sunday. “This operational decision effective Tuesday August 19, 2014 midnight is based on the situation risk assessment by Kenya’s Ministry of Health,” said Titus Naikuni CEO of Kenya Airways.
Updated 6 Years ago

Hotel operator, the JSE-listed Sun International, on Monday said it will sell its varying interests in Botswana, Zambia, Lesotho, Namibia and Swaziland to the biggest leisure and hospitality firm in Asia Pacific, Minor International Public Company (MINT) for R664 million ($62.7 million). “The investment by MINT will be a combination of an acquisition of existing shares from…Sun International…and the acquisition of an interest in the operating management agreements whereby Sun International Management Limited provides management and related services in respect of each of the African Assets,” Sun International said in the announcement.
Updated 6 Years ago

Iran exported $7.9 billion of crude oil and gas condensates in the first four months of the current Iranian calendar year, which began on March 21, the Shana news agency quoted MP Hossein-Ali Hajideligani as saying on Sunday. Iran exported $41.6 billion of crude oil and gas condensates in the previous Iranian calendar year, Oil Minister Bijan Namdar Zanganeh said in April.
Updated 6 Years ago