Equity market opens in downward trend, shedding N234 bn

April 4, 2018 BluePrint Newspapers 0

Transactions on the floor of Nigerian Stock Exchange (NSE) yesterday opened week in negative trend following the loses recorded by some capitalised companies. The NSE All share index declined by 648.87 basis point to 40855.64 from 41504.51 point recorded the previous day. Market capitalisation of listed equities depreciated by N234 billion Or 1.56 per cent to N14.758 trillion from N14.992 Read More

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Expert tasks DisCos on effectiveness

April 4, 2018 Tope Sunday. Abuja 0

An expert in the Nigeria’s power sector, Mr. Adetunji Iromini, has charged the Electricity Distribution Companies (DisCos) to be super-eff ective in every responsibility bestowed on them for the power sector to thrive, a renewable energy expert has said. Iromini, who is the Chief Executive Officer, SolarCentric Technologies Limited, also noted that “the power sector value chain is financed by Read More

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NIC upturns 28 tobacco workers’ sack

April 4, 2018 Moses John. Abuja 0

The National Industrial Court (NIC), has ruled in favour of Food, Beverage and Tobacco Senior Staff Association (FOBTOB) against the Grand Cereals Nigeria Limited and its sister company, Spring Waters Nigeria Limited, over indiscriminate and unlawful sack of 28 workers in their employ. The court, sitting in Abuja delivered its ruling in favour of the union, in a matter that Read More

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institute of Islamic Finance inducts 130 – IIFPN President

Over 130 persons have been inducted as members of the Institute of Islamic Finance Professionals of Nigeria (IIFPN). Acting President IIFPN, Dr. Tajudeen Olalekan, who disclosed this recently at the 2018 induction for members in Abuja, explained that the institute was lincensed and authorized to not only promote Islamic finance education, but also to train members and certify them as Read More

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‘Agric commodities export exceeds 150% in 1 year’

April 3, 2018 John Oba. Abuja 0

The Coordinating Director, Nigerian Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe, has disclosed that Nigeria’s agricultural commodities export rose by 150 per cent in 2017. Isegbe stated this recently at the sensitisation workshop for farmers and exporters of agric commodities. Isegbe noted that the increase was due to intensified sensitization by the agency to ensure that exporters of agricultural products Read More

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VAIDS: FG to review states, private sector’s plea for extension

April 3, 2018 Benjamin Umuteme. Abuja 0

The Minister of Finance, Mrs. Kemi Adeosun, at the weekend confirmed that the government was currently reviewing the requests by the states and private sector for an extension of the tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS). The tax amnesty programme, which expired on Saturday, offered a nine-month window of opportunity for tax payers to regularise Read More

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Imperative of forensic and investigative auditing in Nigeria

April 3, 2018 Chijioke Okoronkwo 0

With the increasing rate of fraud in the public service, there can be no better time for the National Assembly to expedite action on the Chartered Institute of Forensic and Investigative Auditors (CIFIA) Bill that is before it than now World over, there is a paradigm shift from traditional auditing practice to skillful deployment of science and technological tools. These Read More

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FG to deliver 24 housing units in Edo

April 3, 2018 BluePrint Newspapers 0

The federal government has promised that 24 units of housing being constructed as part of the National Housing Programme in Edo State will be delivered before the end of 2018 The Zonal Director of the ministry, Mr. Daminabor Oko-Jaja, made the disclosure recently at an on the spot assessment of ongoing construction at Idumwu-Ehigie in Uhunmwode Local Government Area of Read More

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Agric input suppliers petition CBN over non-payment of contract money

April 3, 2018 AbdulRaheem Aodu. Kaduna 0

A forum of Agricultural Input Suppliers on the federal government’s Anchor Borrowers Programme from Sokoto state has petitioned the Central Bank of Nigeria (CBN) over nonpayment of their contract sums by the United Bank for Africa Plc (UBA). The forum in the petition signed by 15 agricultural input supplying firms said, they were engaged in the first quarter of 2017 Read More

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Undernourished people have increased – Report

April 3, 2018 John Oba. Abuja 0

The Global Food Policy 2018 report released by the International Food Policy Research Institute (IFPRI) has revealed that despite recent food policy efforts, the number of undernourished people have been on the rise since 2015. The report obtained from Food Tank website attributed the increase to failures in food policy reform due to a lack of international cooperation. Furthermore, the Read More

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Economy to experience slowdown in Q2 over delayed budget, expert warns

April 3, 2018 Benjamin Umuteme. Abuja 0

An economist, Prof. Sheriff deen Tella, yesterday advised Nigerians not to expect much from the nation’s economy in the second quarter following continue delayed in the passage of 2018 budget. Tella, a Professor of Economics from Olabisi Onabanjo University (OOU), Ago-Iwoye in Ogun state, who spoke in Lagos, said that the economy will not witness meaningful growth unless the budget Read More

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‘Nigeria’s housing sector should be envied but.

April 3, 2018 Tope Sunday. Abuja 0

Builder Kenneth Nduka is a Fellow of the Nigerian Institute of Building (NIOB) and the current president of the same institute. In this interview with TOPE SUNDAY, he identifies some of the challenges facing the housing sector and charts the way forward As the president of the Nigerian Institute of Building (NIOB), what is your assessment of the country’s built Read More

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NOTAP pushes for patenting, commercialisation of R&D results

April 3, 2018 Binta Shama. Abuja 0

The National Office for Technology Acquisition and Promotion (NOTAP), believes Nigerians are endowed withenormous talents that needs to be further developed for commercial exploitation. BINTA SHAMA reports The National Office for Technology Acquisition and Promotion (NOTAP),was set up to regulate the inflow of foreign technology into the Country due to the highly consumed foreign technology. Knowledge is key At the Read More

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Capital market operators want representation in MPC board

March 31, 2018 Benjamin Umuteme 0

There are increasing calls for the government to appoint a representative from the capital market into the Monetary Policy Committee (MPC) of the Central Bank of Nigeria. Operators of the market, who made the call opined that the capital market was not considered whenever MPC members met to take decisions. They insisted that appointing a capital market representatives as a Read More

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IFC, CWPF, seek increased African cross-border partnership

March 31, 2018 Benjamin Umuteme 0

The International Finance Corporation (IFC) and the China-World Bank Partnership Facility has struck a deal that would increase cross-border business relationship with Africa. The agreement which was struck at the 2018 Africa CEO Forum, will bring global financing and expertise to the continent to help build infrastructure, create jobs, and accelerate economic growth. The African CEO Forum is an annual Read More

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Transcorp posts N80.28bn revenue in 2017

March 31, 2018 Benjamin Umuteme 0

Transnational Corporation of Nigeria (Transcorp) posted group revenue of N80.28 billion during its financial year ended Dec. 31, 2017. The revenue increased by 35.11 per cent From the N59.42 billion achieved in 2016. The company’s results released by the Nigerian Stock Exchange (NSE) showed that the company’s profit after tax increased to N10.61 billion from the loss after tax of Read More

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PIGB: NASS introduces 5% fuel levy on consumers

March 29, 2018 Blueprint 0

By Ezrel Tabiowo Abuja As part of efforts to reposition the Petroleum industry, the National Assembly, yesterday passed the much-awaited Petroleum Industry Governance Bill. The passage of the PIGB saw the introduction of five percent fuel levy on fuel sold across the country, monies that would be used to finance the Petroleum Equalisation Fund as established under the bill. This Read More

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FAAC: FG, States, LGs share N647.39bn

March 28, 2018 Benjamin Umuteme. Abuja 0

  Workers at the three tiers of government are to receive their salaries for this month before the Easter break as the Federal, State and Local Governments shared the sum of N647.39 billion from the Federation Account for February. But for the intervention of the Finance Minister, Mrs. Kemi Adeosun, it would have been a bleak Easter for the workers Read More

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FG to explore alternative sources of energy

March 28, 2018 Binta Shama. Abuja 0

  The Minister of Science and Technology, Dr. Ogbonnya Onu has said the federal government is exploring alternative sources of energy for the country. Dr. Onu said this when the executives of International Energy Charter Mission Team on Energy Investment Risk Assessment paid a courtesy call on him in his office. The Minister said that his Ministry was championing the Read More

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We ‘re not aware of N13.5m running cost for senators – RMAFC

March 28, 2018 David Agba . Abuja 0

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has dissociated itself from the N13.5 million collected by each senator as running cost and N750,000 as salary. According to the agency, the items were not in the Remuneration Act of 2008, adding that it is only the National Assembly management that can clarify such expenditure. Senator Shehu Sani, a Kaduna state Read More

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FG announces project transaction advisers in aviation sector

March 28, 2018 BluePrint Newspapers 0

The federal government is set to unveil transaction advisers recently appointed for some major projects in the sector. The Deputy Director of Press and Public Relations in the Ministry of Aviation, Mr. James Odaudu said in a statement in Abuja that the decision “is in pursuance of its resolve to carry along all critical players in the aviation industry in Read More

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NAMA boosts air safety with installation of ILS in Lagos, Abuja

March 28, 2018 BluePrint Newspapers 0

The Nigerian Airspace Management Agency (NAMA) has disclosed plans to install CAT-3A instrument landing systems (ILS) at the Lagos and Abuja airports to boost air safety. Speaking at a press conference in Lagos, the Managing Director of the agency, Capt. Fola Akinkuotu said the deployment of the hi-tech navigation equipment would ensure aircraft could land in zero-zero visibility given the Read More

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Nigeria, Rwanda sign BASA

March 28, 2018 Ime Akpan. Lagos 0

  Nigeria and Rwanda have signed a bilateral air services agreement (BASA) as part of efforts by the Central/East African country’s national flag carrier, RwandAir, to expand its operations across West Africa. The agreement was signed recently in Kigali by Rwanda’s state minister for transport, Jean de Dieu Uwihanganye and Nigeria’s Minister of State for Aviation, Senator Hadi Sirika. The Read More

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Mixed optimism as FG approves arms for aviation security staff

March 28, 2018 Ime Akpan. Lagos 0

Stakeholders have subtly agreed with the federal government’s plan to transform aviation security personnel of the Federal Airports Authority of Nigeria (FAAN) by licensing them to bear arms to complement other agencies in combating security threats at the airports. IME AKPAN reports Threat to civil aviation Civil aviation has been a visible target for acts of violence and terrorism but Read More

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