In spite of the gloom on the country’s economy, investor confidence in Nigeria remains high as the $1 billion Eurobond issued by the federal government on Thursday was over-subscribed by almost eight times. The over-subscription was with orders in excess of $7.8 billion compared to a pre-issuance target of $1 billion. The bond, issued under Nigeria’s newly established Global Medium …

The Lagos Chamber of Commerce and Industry (LCCI) yesterday resounded the alarm over the damage to investor confidence and Foreign Direct Investment flow being done by the security problems in the country. Troubled by the elevated rate of violent crimes and inseurity, LCCI stressed the need for Nigeria to address the challenge speedily to make the business environment more secure …

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 …

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

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 …

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 …

Folake Sokoya Police brutality is not only characterised by “accidental discharges” or harassment of members of the public. It extends to domestic violence and the abuse of their spouses. This, however, can be traced to the training policemen receive or their recruitment process, which obviously lacks enough training on respect for human rights and the capability to remain calm in …

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 …

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 …

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, …