Investors To Start Receiving Direct Cash Payment January 2nd

Investors in the Nigerian capital market would be credited directly with the net proceeds of stock market transactions as from January 2, 2016.

African Development Bank AFDB

LAPO MfB Secures N2.4b AfDB Loan

The African Development Bank Group (AfDB) has granted a N2.364 billion ($12 million) credit facility to Nigeria’s LAPO Microfinance Bank Ltd.

credits: wema

Wema Bank’s Capital Adequacy Ratio Strong, Says Management

Wema Bank Plc yesterday said its Capital Adequacy Ratio (CAR) is 18.6 per cent based on September 2015 results, which is significantly higher than the 10 per cent required by the Central Bank of Nigeria (CBN) for regional and national bank.


Senate Probes N2.4bn Abandoned NNDC Project

Senate yesterday commenced the probe of the N2.4bn abandoned Agbaraho Township roads project in Ugheli North local government of Delta state awarded by the Niger Delta Development Commission (NNDC).


Financial Market Bubbles On New Monetary Policy

Investors and money dealers across the various spectrums of Nigerian financial market have reacted sharply to the new monetary policy of the Central Bank of Nigeria, CBN, barely 24 hours of the policy pronouncements.


Naira Strengthens Against Dollar At Parallel Market

The Naira on Wednesday strengthened against the dollar as it traded for N240 at the parallel market.


MTN, Etisalat Ask Court To Dismiss Subscribers’ Suit

Telecommunications companies, MTN Nigeria Communications Limited and Etisalat Nigeria, have asked a Federal High Court in Lagos to dismiss a suit filed against them by aggrieved subscribers whose lines were allegedly wrongfully deactivated.

power plant electricty

Discos Groan Under N49.3b Debt By MDAs, States, Military

A choking debt of about N49,305,181,196.66 owed the 11 electricity distribution companies (Discos) in the country is one of the impediments against their efficient operations.


NNPC Enlists DSS, EFCC To Tackle Fuel Crisis

To end the fuel scarcity in the country, the Nigerian National Petroleum Corporation (NNPC) is engaging the Department of State Services (DSS) and Economic and the Financial Crimes Commission (EFCC) to check the hoarding and diversion of petroleum products by some unscrupulous marketers.


Buhari To Visit Lagos Friday

The Lagos State Government has increased security measures in the state with the acquisition of three helicopters, among other gadgets, to fight rising insecurity in the state.


Audu’s Supporters Push For Son As Replacement

There were strong indications on Wednesday that the campaign organisation of the late Kogi State governorship candidate of the All Progressives Congress, Alhaji Abubakar Audu, was preparing a ground for the emergence of the deceased’s son, Mohammed, as a replacement for his father.


48, Not 500 Nigerians Deported From UK – Immigration

The United Kingdom Government on Wednesday deported 48 Nigerians over immigration related offences.


Kogi Poll: Fayose Blames Buhari For INEC’s Decision

Ekiti State Governor, Ayodele Fayose, has faulted the directive of the Independent National Electoral Commission that the All Progressives Congress should nominate a fresh candidate for the inconclusive Kogi Governorship Election.


Six Months After, Obasanjo Lauds Jonathan For Successful Handover To Buhari

Almost six months after the change of government, former President Olusegun Obasanjo has for the first time congratulated former President Goodluck Jonathan for successfully handing over to President Muhammadu Buhari and commended him for continuing to have faith in Nigeria.


Biafra: MASSOB Faction Accuses South East Govs, Ohanaeze, Others Of Betrayal

The factional leadership of the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, yesterday, accused the South-East governors, members of Ohanaeze Ndigbo and other Igbo leaders in the country of betraying the interest and demands of Ndigbo in the current political dispensation.