Relief as naira appreciates on liquidity boost
The Naira yesterday appreciated at the forex market barely 24 hours after liquidity challenges forced it to depreciate thrice in six hours. Naira gained five points to close at N465 at the parallel market, from N470 it traded on Wednesday,…
High cost of materials frustrating industries
More manufacturing sectors have continued to decry disruptions in the production lines due to collapsing infrastructure and forex crisis. Latest in the lamentation is the textile companies in Nigeria have decried the increase in cost of raw materials, saying it,…
NCC mulls Computer Security Response teams for telecoms operators
As part of renewed efforts to nip cyber attacks on the bud, the Nigeria Communications Commission (NCC) has disclosed plans to set up Computer Security Incidence Response Teams (CSIRT) exclusively for the telecommunications sector. The Commission believes that with 152…
House probes AMCON’s N2.4trn unpaid debts
The House of Representatives Thursday mandated its Committee on Banking and Currency to investigate the non-liquidation of N2.473 trillion owed the Assets Management Corporation of Nigeria (AMCON). The Committee, which is to fully investigate the failure of “obligors” and debtors…
New respite as ExxonMobil sees 1bn recoverable oil resource
United States-based ExxonMobil Corporation yesterday, said it had discovered up to one billion barrels of oil in the Owowo field, offshore Nigeria. The group said it was “a significant discovery with a potential recoverable resource of 500 million and one…
Dangote Cement’s profit drops by N24.47bn
The profit after tax of Dangote Cement Plc dropped by N24.47bn in the nine month, ended September 30, 2016. In a statement, the company attributed the drop from N157.993bn recorded in the Q3 2015 to N133.521bn in the Q3 2016…
Nigerian Breweries declares N7.93bn interim dividend for Q3 2016
The Board of Directors of the Nigerian Breweries Plc yesterday announced an interim dividend of N7.93bn, translating to N1 per share for the nine months ended Sept. 30, 2016. The company’s Secretary/Legal Adviser, Mr. Uaboi Agbebaku, in a statement on…
Labour bodies reject re-introduction of toll gates across the country, berates Senate.
Barley one day after the Red Chambers of the National Assembly passed a hurried resolution to re-introduce toll gates on federal roads, anger, venom and anxiety have been trailing the move. Apart from pockets of rejection by several organized bodies,…
Etisalat boosts SMEs growth with Market Access Forum in Lagos
Etisalat Nigeria has keyed into the ongoing efforts of the Federal Government’s objective of promoting Small and Medium scale Enterprises (SMEs) as enablers of national socio-economic development. This it did by sponsoring another session of the quarterly Market Access Forum…
CTO unveils global report on ‘over-the-top services’
The Commonwealth coordination meeting at the World Telecommunication Standardization Assembly 2016, the Commonwealth Telecommunications Organisation (CTO) has launched a global study on over-the-top (OTT) services. The study is based on a mandate issued by the Commonwealth ICT Ministers in June…
