The Nigerian Stock Exchange, NSE has said that the new trading engine, X-Gen, which fully became operational, Monday, will change the face of doing business, not only in the Nigerian capital market but in Africa.
Updated 6 Years ago

The Minister of Transport, Sen. Idris Umar, yesterday said six local shipping firms had met the recommendations and had been approved to access the nation’s Cabotage Vessels Financing Fund (CVFF), which was put at N40 billion as at June this year. The transport minister at an event to mark the world maritime day in Calabar, Cross River State capital, also disclosed in his keynote address that the Kirikiri Terminal 1 in Lagos has been designated a fishing terminal in order to enhance economic activities in the local fishing industry.
Updated 6 Years ago

The Chairman of the Board of Enterprise Bank Limited, Mr Emeka Onwuka, has resigned his appointment with effect from October 1, 2013. In a letter sent to the Asset Management Corporation of Nigeria (AMCON, Onwuka informed that he was resigning from Enterprise Bank to avoid a potential conflict of interest and to protect the credibility of AMCON’s divestment process, as he intends to work with a group of investors, who are interested in acquiring equity in the three nationalised banks.
Updated 6 Years ago

In view of the huge amount put in by banks in the country to fund the privatisation of the power sector, which is currently estimated at $2 billion, the federal government has been urged to strengthen the power sector value chain to ensure the success of the project so that banks can recoup their investments.
Updated 6 Years ago

Dangote To Build 1,000-Bed Hospital In Kano
Updated 6 Years ago

The dollar fell to an 8-month low against a range of currencies, before recovering slightly despite a partial shutdown of the US government. Analysts said the fall in the dollar had not been more pronounced as the shutdown had been expected. The shutdown began after the two houses of Congress failed to agree a budget.
Updated 6 Years ago

A review of the $1 billion seed capital contributed by the three tiers of government to the Sovereign Wealth Fund (SWF) has shown that Akwa Ibom, Rivers and Delta States made the highest contributions among the 36 states of the federation. Vice-President Namadi Sambo, last week, presented certificates of contribution to the federal, state and local governments, while inaugurating the council. But the actual contribution by the federal, respective states and local governments was not disclosed. The Nigeria Sovereign Investment Authority (NSIA) oversees the management and investment of the SWF.
Updated 6 Years ago

The Chairman of Honeywell Flour Mills Plc, Dr. Oba Otudeko, has distanced himself from the crisis rocking Ecobank Transnational Incorporated (ETI). He also insisted that he was not a party to the ongoing rift at the pan-African Bank, saying given his role as a founding shareholder of the bank, he had wished not to have to make any formal statement beyond his earlier plea for peace to prevail in the financial institution.
Updated 6 Years ago

Disturbed by the seeming dollarisation of the economy, the Central Bank of Nigeria (CBN) Tuesday proscribed the importation of all foreign currency by banks into the country. The central bank stated that the move was part of its resolve to save the naira as well as the economy from external threats and dominance.
Updated 6 Years ago

The U.S Senate rejected the House's third short-term government funding deal on Monday, triggering a partial government shutdown.
Updated 6 Years ago