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Business & Finance

Ericsson appoints Rutger Reman Managing Director f

Sunday, March 26, 2017
middot; Rutger Reman has been appointed President and Managing Director for Ericsson Nigeria middot; This appointment is effective March 1, 2017 Ericsson has appointed Rutger Reman, President and Managing Director for Ericsson Nigeria, reporting to Jean-Claude Geha, President and CEO of Eric ...

2,351 whistleblowers tip finance ministry

Saturday, March 25, 2017
The Ministry of Finance, says it has so far received 2,351 tips from whistleblowers bordering on cases of embezzlement of government funds, looting of assets and contract inflation, among others. In a statement signed by Mr Festus Akanbi, the Special Adviser, Media to the Minister of Finance, Mrs ...

Forex dealers fear further dollar slump as CBN offers $100m

Friday, March 24, 2017
The Central Bank of Nigeria on Thursday offered the sum of $100 million to meet the requests of wholesale customers, out of which $91 million was taken, indicating greater apprehension among dealers who anticipate a further crash of the dollar in the FOREX market. The Acting Director of Corporat ...

Hygeia Group Acquires GCH

Friday, March 24, 2017
Hygeia Nigeria Limited has acquired Gold Cross Hospital, a 35 bedded multi-disciplinary, tertiary care hospital in Lagos subject to regulatory approval. The acquisition also include Gold Cross MRI Diagnostics also in Lagos; a fully operational diagnostic centre with MRI, CT Scan and other diagnostic ...

Nigerian banks will continue to face challenges in 2017: Fitch Ratings

Friday, March 24, 2017
Fitch Ratings released the following statementon Wednesday on the health of Nigerian banks in the face growing economic challenges. Link to Fitch Ratings 8217; Report: Nigerian Banks: Peer Review here LONDON, March 22 (Fitch) Fitch Ratings says Nigerian banks will continue to face challenges ...

FG gets World Bank's $200m credit for restoration of North East

Wednesday, March 22, 2017
The World Bank's Board on Tuesday approved a $200 million credit support for the Federal Government of Nigeria to address the acute humanitarian and forced-displacement crisis triggered by the Boko Haram conflict in North East Nigeria. The funding is for multi-sectoral crisis recovery projects i ...

FG Will Assist Ashaka Cement to Actualise its Coal Power Project – Fashola

Monday, March 20, 2017
Babatunde Fashola, Minister for Power, Works and Housing, says Federal Government will assist the Ashaka Cement Plc to actualise its 16 Megawatts coal power project. Fashola made the assertion on Saturday while speaking with newsmen during his visit to the factory in Ashaka Village, Funakaye Loca ...

Nigerian Government commends Dangote Cement self-sufficiency feat

Monday, March 20, 2017
LAGOS, Nigeria, March 20, 2017/APO/ The Federal Government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity, ascribing the feat to Dangote Cement ( www.Dangote.com ) which spare headed the backward integration pol ...

Boost for Nigeria's auto policy as ANAMMCO resumes production

Tuesday, March 21, 2017
Despite economic recession, the following first federal government's objective of using the automotive policy to enhance local production of vehicles and develop the linkage industry, has continued to yield positive results. Part of the gains of the policy is being recorded at the Anambra ...

NNPC reports MRS, Capital Oil to DSS, EFCC for expropriating PMS valued at N17b

Saturday, March 18, 2017
Two Nigerian oil firms MRS Limited and Capital Oil and Gas Limited have landed in trouble over alleged illegal sale of petrol belonging to the Nigerian National Petroleum Corporation. The NNPC said in a statement on Friday that it had reported the duo to the Department of State Service, DSS, and ...

Fanta, Sprite, Coke safe : Health Ministry

Saturday, March 18, 2017
Coca-Cola products, Fanta, Sprite and Coke manufactured in Nigeria are safe for consumption. the Federal Ministry of Health said in Abuja on Friday. The ministry gave the assurance after a meeting summoned by the Minister, Prof. Isaac Adewole, to discuss the recent judgment on the case filed b ...

Court reverses seizure of oil block from Shell, Eni

Saturday, March 18, 2017
A Nigerian court has set aside its order for the temporary seizure of one of Africa 8217;s richest oil blocks from multinationals Royal Dutch Shell and Eni. Justice John Tsoho upheld the application filed by Shell and Eni challenging a January court order ceding control of Oil Prospecting Licens ...

Anti-corruption war: Magu vows to soldier on despite non-confirmation, DSS repor

Thursday, March 16, 2017
Coming out of the Senate chambers where the confirmation of his nomination was declined for the second time, the Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, vowed not to be cowed by obstacles which have been strewn on his paths. Magu said he continue to carry o ...
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