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Author Archives: Business Hilights

If you wish, pay for your meters, Fashola changes discuss, group kicks


Fresh twist emerged on Tuesday, on the ongoing confusion bordering on whether or not consumers’ should for meters as the Minister of Power, Works and Housing, Mr. Babatunde Fashola said government will not oppose the wishes of electricity consumers willing to pay for meters from their distribution companies if both had an understanding to do so. This stemmed from his ...

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Whatsapp, Skype calls now taking tolls on voice traffic, teledensity—BH Report

Data calls

A clear case of technology disruption capable of frustrating the target income from voice calls by operators is gradually holding sway as Nigerian telecoms subscribers are now shifting calls from voice to Whatsapp and Skype which thrive on data. A research by Business Hilights Economic Research Team (BHERT) showed that as the awareness grows, the implications are that teledensity will ...

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NITDA ready to harmonise takeoff of National Public Key Infrastructure scheme

NITDA pantami

The Management of the National Information Technology Development Agency (NITDA), on Tuesday, notified all sector based regulatory Ministries, Departments and Agencies (MDAs) and the general public, that, in fulfilment of its mandate, it has taken steps to harmonise Public Key Infrastructure (PKI) related projects in Nigeria. In a statement issued in Abuja, the Director General of the agency, Dr Isa ...

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CTO Forum ’17 to review digital future as African internet connectivity still poor

CTO forum '17

Dateline Maputo, Mozambique 11 – 13 September; leading global and continental stakeholders’ in data services will join the debate on how best to connect the rest of the world and mainly Africans to the internet of things and accessibility issues. In a statement issued on Tuesday and sent to Business Hilights via email, by the organizers of Commonwealth Telecommunications Organisation ...

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Zenith Bank report hails DBN, silent on planned MDBs’ N26bn to lift SMEs


It was not clear if it was because the report may have been ready before the recent decision of Nigerian Bankers’ Committee to pull over N26bn in aid of growing Small and Medium Enterprises’ (SMEs), otherwise, the latest Zenith Economic Quarterly, a publication of Zenith Bank Plc, has adjudged the new Development Bank of Nigeria (DBN) as the best solution ...

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Misappropriation, diversion of funds/revenue lead in whistle blowing tips—Minister

Whistle B2

The Minister of Finance, Mrs. Kemi Adeosun in Abuja on Tuesday, revealed that “In reviewing the information we receive, we have noticed that certain type of tips are recurring, for example; 39% (144) of the actionable tips relate to misappropriation and diversion of funds/revenue”. Giving details on the performance of the Unit, now domiciled in her ministry at the Bureau ...

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Russian bank mulls merger, acquisition of Nigerian banks, others

Russia Putin

Russia’s leading largest privately-held bank, Promsvyazbank, is closing in on investing in Nigeria, Kenya, Rwanda, Tanzania, Uganda, Zambia and other countries before the end of the year. The bank’s Head of Transaction, Documentary and International Businesses, Alexander Meshcheryakov, said in an interview in Moscow that the move was due to sluggish loan demand at home. He said “There is growing ...

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EFCC recovers N553m stolen funds from S’East politicians in 7 months

Efcc magu

In continuation of ongoing review of regional performances by geo-political zones, the Economic and Financial Crimes Commission (EFCC), South East zone stationed at Enugu, on Tuesday, revealed that it recovered N553.77million from corrupt politicians in the South East in the seven months of investigative operations and recovery of stolen funds. According to the Zonal Head of Operations of the commission, ...

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To boost local production, FG plans to rest issuing fish importation quota

Fish Importation

The Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri, in Abuja on Tuesday, revealed that the Federal Government is concluding plans to end issuance of fish importation quota to importers. According to him, the practice is becoming burdensome and therefore no longer feasible. In his remarks during a meeting with the Ijebu Development Initiative on Poverty Reduction ...

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FIRS, JTB deepen move to cage high-income earners, 12 states sign VAIDS


The federal government has stepped up its drive to capture several Nigerian high income earners who had been evading taxes as the Joint Tax Board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing data of high net worth individuals. The key target is to profile income earners and taxpayers in order to get them pay appropriate taxes. ...

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