By Lubem Gena The Abuja Chamber of Commerce of Industry (ACCI) is celebrating the election of its President, Prince Adetokunbo Kayode, SAN, CON as the National Deputy President Ex-officio of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA). In a press release made available to journalists in Abuja on Saturday, 24th […]
BUSINESS AND ECONOMY
FAAC: FG, States and LGCs share N769.523 billion for the month of July
By Victor Akaa, Abuja The Federal Account Allocation Committee (FAAC) has shared to the Federal Government, States and Local Government Councils a sum total of N769.523 billion as federal allocation for the month of July 2019, the amount which is slightly higher when compared to the previous month, June 2019. The breakdown of the said […]
Internet fraud: FBI nabs more Nigerians in U.S.
Scores of Nigerians have been arrested in U.S. by the Federal Bureau of Intelligence (FBI) in a major conspiracy to steal millions of dollars through fraud schemes and launder the money through a Los Angeles-based network. The arrest comes few days after Forbes celebrated Nigerian young billionaire, Obinwanne Okeke popularly known as Invictus Obi was […]
American banking giant, JP Morgan, partners NSE on derivatives
The Nigerian Stock Exchange on Wednesday said it is collaborating with JP Morgan Chase to facilitate in-depth capacity building programme on the derivatives market. The decision is consistent with the NSE’s commitment to developing a thriving derivatives market in Nigeria, the bourse said on Wednesday. It added that the collaboration with JP Morgan is expected to promote […]
IMF seeks to remove age limit for Managing Director position
The Executive Board of the International Monetary Fund (IMF) on Wednesday submitted a recommendation to its Board of Governors to consider removing the age limit for the Managing Director’s position. Since 1951, the IMF’s by-laws prohibited the appointment of a candidate aged 65 or above as its Managing Director. Also, the law prohibits any Managing Director, who […]
More items ‘ll be denied FOREX – CBN gov
THE Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, on Monday said more items will soon be denied foreign exchange from government institutions and Nigeria banking industry. Emefiele, who disclosed this in an interview with the State House correspondents on the sideline of the Presidential retreat for Ministers designate at the Old Banquet […]
NIMASA begins 24-hour intelligence gathering, surveillance
The Nigerian Maritime Administration and Safety Agency says its Command, Control, Computer Communication and Information Centre, otherwise known as the C4i Centre has begun operations on a 24-hour basis. It said that the centre located at the NIMASA Maritime Resource Development Facility in Kirikiri, Lagos, would serve as the command and control centre for the […]
We’re committed to solving electricity distribution – Discos
Electricity distribution companies on Sunday said that they were committed to resolving challenges in the power sector in the country. Speaking under the aegis of the Association of Nigerian Electricity Distributors, the Discos stated that they were committed to solving the challenges affecting retail electricity distribution across the country. The Executive Director, Research and Advocacy, […]
Buhari campaigner, 35 others get crude-for-fuel contracts
The Nigerian National Petroleum Corporation has awarded its 2019/2020 contracts for the exchange of crude oil for imported petroleum products to 15 consortiums/companies, including Casiva Limited, whose Chairman, Alhaji Nasiru Danu, was the Director of Logistics for the Buhari Campaign Organisation. A total of 15 groupings, with 36 companies in total, will participate in the […]
OPS sings discordant tune over forex ban on food imports
There seems to be some measure of discordant tunes amongst Members of the Organised Private Sector (OPS) over the recent presidential order on the Central Bank of Nigeria (CBN) to restrict foreign exchange (Forex) for importation of food items into the country. CBN While listing the adverse implication of the order they have, however, called […]