Sarah NEGEDU

Banks Record Low Profits In 2015 - Massive job loss looms

Economic indicators show that it has been a tough year for banks with most of them set to post low profit margins as compared to corresponding year.

The poor returns is coming on the heels of denial by the Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele that “there is no [...]

Sun, 20 December 2015


Scam alert: CBN cautions customers on BVN messages

The Central Bank of Nigeria has advised bank customers to be wary of fraudsters who trick people into releasing their bank details through fraudulent messages purportedly asking them to complete their Bank Verification Number, BVN registration process to avoid the deactivation of their accounts.

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Sun, 20 December 2015


Minister canvasses agric subsidy

As the clamour for the removal of petroleum subsidy deepens in some quarters, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has called for the diversion of the subsidy fund to agriculture.

Ogbeh, who made the call at an interactive session with the House Committee on Agri [...]

Sun, 20 December 2015


Chinese coys propose multimillion dollar investment in Nigeria

In furtherance of the proposed multi-million dollar investment by some Chinese companies into key sectors in Nigeria, a Chinese company, HellogJiang Pingyuan Rice Group, has proposed a $300 million rice project in the country.

Chief Executive Officer of the group, Mr. Wang Jing Xin, disclosed t [...]

Sun, 20 December 2015


CBN bans BDCs from multiple outlets, street trading

Operators of Bureaux de Change, BDCs, across the country have until March 10, 2016, to shut down all branch operations except for its registered office, or risk facing sanctions from the central bank.

A recent guideline from the CBN also advised operators to cut off all business relations with [...]

Sun, 20 December 2015


World Bank’s prescription for Nigeria as oil price plunges

The World Bank Group has said Nigeria could have successfully withstand the global oil price crash, if decisive measures were taken to end subsidy payment on petroleum products by the federal government.

The bank in its ‘Nigeria Economic Report No. 3’, released last week, said the $ [...]

Mon, 14 December 2015


FG moves to end fuel scarcity with subsidy payment

The lingering fuel scarcity that had threatened most parts of the economy may soon be resolved as the federal government, last week, announced N407 billion subsidy payment to oil marketers.

Minister of Finance, Mrs. Kemi Adeosun, had in a statement announced the payment, disclosing that a total [...]

Mon, 14 December 2015


FG to provide 30million litre of milk to pupils

About 30 million Nigerian children will be provided with a litre of milk a day, under the school feeding programme for primary and secondary, the federal government has hinted.

Minister of Agriculture and Rural Development, Chief Audu Ogbe, who said the move is aimed at tackling the problem of [...]

Mon, 14 December 2015


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