Julius Berger reacts to recession, fires 6,000 workers, celebrates 878
In what may be seen as reaction to the prevailing recession and associated forex crisis, construction giant, Julius Berger has compulsorily retired at least 6,000 workers within the last two years. However, another brighter angle to the development was the…
Maritime sector worst hit by recession, forex crisis—MWUN boss, Nted
Looking for the most hit sector of the economy by the joint forces of recession and forex scarcity, the President General of the Maritime Workers Union of Nigeria (MWUN), Mr Emmanuel Anthony Nted has revealed that the maritime sector remains…
How Customs got clues leading to the seizure of 102 bags of plastic rice
More details Wednesday emerged on the factors considered by the eagle eyed surveillance team of the Federal Operations Unit (FOU) of the Nigeria Customs Service (NCS), Ikeja Command in the interception of 102 bags of plastic rice branded “Best Tomato…
Be careful in relaxing banks’ prudential ratios—Expert warns CBN
Leading financial analyst, Dr. Ken Igboanugo has cautioned the Central Bank of Nigeria (CBN) not to be carried away by the observed strength, capital adequacy and liquidity of Nigerian banks even at the heat of recession. Prudential ratios are used…
Forex’ll sink more manufacturers next year— May & Baker Plc boss, Okafor
Managing Director of May & Baker Plc, Mr. Nnamdi Okafor has revealed that due to the fact that effort of the Central Bank of Nigeria (CBN) in managing foreign exchange access by manufacturers is not producing the needed impact, more…
Why Nigerians are not feeling impacts of development banks—Maa’ji
Lagos based development Economist; Dr. Aliu Maa’ji has explained why Nigerians are not gaining from several development banks instituted by the federal government over the years. He linked the abysmal failure of the banks to excessive bureaucracy in their fund…
NBC begins national rollout today as Abuja goes live on DSO
Before noon today (Thursday), residents of Federal Capital Territory (FCT), Abuja will be live to the high definition digital terrestrial television experience, marking the effective commencement of national Digital Switch On (DSO) and the transition from Analogue to Digital broadcasting…
Seychelles, S/Africa 14 others lead Africa as Nigeria ranks 137th in ICT Dev. Index
It was disappointment Wednesday as International Telecommunications Union (ITU) in its ‘Measuring the Information Society’ report on ICT Development Index (IDI) has placed Nigeria in a distant 137th position while smaller nations like Seychelles and S/Africa lead the continent. Nigeria…
Interswitch, others delaying listing, IPO due to deep naira-dollar differentials
The prevailing forex crisis hitting the economy has extended its streaks of frustrations to prospective capital market investors as companies planning to either list on the exchange or go to the market for shares and IPOs are now developing cold…
