The Transmission Company of Nigeria (TCN) has said recent disruption in supply of electricity across the country was occasioned by a major collapse of the transmission grid. The TCN in a statement by its General Manager, Public Affairs, Mr. Dave Ifabiyi, yesterday in Abuja, stated that a fault had occurred on a major transmission line running from Benin-City, Edo State to Lagos through Osogbo, Osun State which resulted in the shutdown of the Egbin, Omotosho and Olorunsogo power stations respectively.
Updated 6 Years ago

Microfinancebanks’ (MfBs) operators are turning down loan proposals from farmers due to cash crunch, it was gathered. Some operators, who spoke on condition of anonymity, said the banks do not have enough cash to lend to the farmers.
Updated 6 Years ago

FBN Holdings Plc, the holding company for First Bank of Nigeria (FBN) and its previous subsidiaries, achieved strong fundamental performance in 2012 and first quarter of the year. But the share price is still substantially undervalued. Taofik Salako reports that there is still potential for capital appreciation
Updated 6 Years ago

The Central Bank of Nigeria (CBN) has said Lagos and the six other states control about 90 per cent of cash transactions in the country. The other States are Rivers, Anambra, Abia, Kano, Ogun and the Federal Capital Territory (FCT). The CBN Deputy Governor, Operations, Mr. Tunde Lemo, disclosed this. According to Lemo, this was one of the factors that necessitated the planned extension of the cashless policy to those States from July 1, this year.
Updated 6 Years ago

Flour Mills of Nigeria Plc has added the Golden Penny Sugar to its number of products in the market. The company revealed this recently during the launch of the product as a customers’ forum in Lagos.
Updated 6 Years ago

The Asset Management Corporation of Nigeria (AMCON) has offered insights into its decision of the corporation to start the sale of its three banks - Enterprise Bank, Keystone Bank and Mainstreet Bank with Enterprise Bank. AMCON describes Enterprise as the best step forward for a successful divestment programme.
Updated 6 Years ago

There are strong indications that the former Managing Director/Chief Executive Officer (MD/CEO) of Zenith Bank Plc, Mr. Jim Ovia, and his erstwhile counterpart at the United Bank for Africa (UBA) Plc, Mr. Tony Elumelu will return to their respective financial institutions as either chairmen or non-executive directors by the second half of this year or early next year.
Updated 6 Years ago

Aviation Minister Stella Oduah is seeking presidential approval to hand over the management of airports infrastructure to a Chinese firm.
Updated 6 Years ago

Rejection of results bad omen for 2015, says ACN
Updated 6 Years ago

President Goodluck Jonathan said yesterday that the state of emergency imposed on three states was to stop the excesses of the Islamic sect, Boko Haram.
Updated 6 Years ago