The naira tumbled against the United States dollar on the parallel market to 503 on Thursday, down from the 500 recorded on Wednesday. The local currency had closed at 499 and 498 on Tuesday and Monday, respectively. This came almost two weeks after the naira touched 500/dollar briefly and returned to 498/dollar. The local currency had been stable against the …

Read More »

From Left: Alhaji (Dr) Umaru Kwairanga, Director Jaiz Bank Plc;  Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Alhaji (Dr) Umaru Abdul Mutallab, Chairman, Jaiz Bank Plc ; Hassan Usman, Managing Director/CEO, Jaiz Bank Plc and Alhaji (Dr) Musbahu Basir, Director, Jaiz Bank Plc at the Facts Behind the Listing at the NSE on Thursday. Advertisement

Read More »

As Nigerians and businesses grope in darkness, Honorary Adviser to the President of Dangote Group, Eng. Joe Makoju has advocated adequate funding and restructuring of the Power sector so as to achieve relative stability in electricity generation and distribution He said the power sector is currently bankrupt to the point of even threatening the health of financial institutions and the …

Read More »

Popular TV series on Africanmagic Yoruba entitled Mr & Mrs Kogberegbe is set to take Lagos State by entertainment storm as its adds a new feather with a ‘Screen-2-Stage’ event tagged Tunmigbe meaning ‘Remarry Me!’. Tunmigbe seeks to be an evening of comedy, fun and full Drama for entertainment lovers in Nigeria bringing couples together and giving them the comfortable …

Read More »

MTN Group expects to report a full-year loss due to a one billion dollars regulatory fine in Nigeria and for under-performance both in Nigeria and South Africa, the company said on Wednesday. MTN had agreed in June to pay Nigeria a N330 billion (1.05 billion dollars at the time) fine for missing a deadline to cut off unregistered SIM cards …

Read More »

A study conducted by an independent body has named the fully integrated telecommunications service provider, Globacom, as the best provider of 4G LTE services in Lagos. The National Independent Wireless Broadband Quality Report (NIWBQR), which conducted the study, is an independent body that specialises in providing national broadband quality of experience report on mobile wireless communication services in Nigeria. An …

Read More »

Investors in the nation’s power sector have called for the settlement of N50 billion owed them, while also calling for the introduction of a realistic tariff structure, reflective of the current rate of inflation and foreign exchange rate. The Chairman of Heirs Holding/Transcorp Power Ltd, Mr. Tony Elumelu, speaking Tuesday at a two-day interactive dialogue/workshop on the Nigerian power sector, …

Read More »

The management of Skye Bank Plc has announced the promotion of over 300 of its employees under the 2016 annual staff performance review exercise. The promotion, which cuts across several cadres up to the managerial level, according to the bank, is in line with its effort to reward staff members who performed creditably in their various roles during the past …

Read More »

The Board of Directors of the African Development Bank has approved a US $90-million financial package comprising a US $50-million Line of Credit and US $40-million Trade Finance Line of Credit to Commercial Bank of Africa Limited (CBA), Kenya. The funding will be channeled to SMEs and local corporates in infrastructure, tradable and other transformative sector transactions in Kenya. It …

Read More »

The Managing Director, Nigerian Railway Corporation (NRC), Fidet Okhiria, has explained that the increase in fare of Abuja-Kaduna rail line was to meet up with the part cost of the rail operations. Mr. Okhiria told the News Agency of Nigeria in Abuja on Tuesday that the initial fare of N600 is now N1,050 and the executive coach that was N900 is now …

Read More »