By Amechi Obiakpu Ikeja Electricity Distribution Company, has introduced a Debt Discount initiative. The initiative provides various percentage discount options to enable customers pay off their outstanding bills and meet their financial obligations to the company. The company said in a statement that the project is designed specifically to support unmetered non-maximum demand (NMD) customers, […]
Indications have emerged that Nigeria has lost over $8 billion due to capital flight in the nation’s oil and gas industry, as the International Oil Companies (IOCs) have continued to award of contracts to foreign firm, contrary to the provision of the Nigerian Oil and Gas Industry Content and Development Act (NOGICD) Act 2010. The […]
Fidelity Bank Plc, one of Nigeria’s highly diversified financial institutions, has announced its unaudited results for the half year ended June 30, 2016, disclosing that its deposit base grew to N829.9 billion from N769.6 billion in 2015 Financial Year (FY). This represents a 7.8 percent increase for the period under review. Also, the Bank’s net […]
By a seemingly innocuous circular released on July 22, 2016, the Central Bank of Nigeria (CBN) appears to have dealt a heavy blow to a money transfer business that has ripped off the Nigerian economy for years. Nigerians working abroad remit home over $21 billion annually, but the benefits of this huge stock of forex […]
Pfizer Inc said it had acquired privately held gene therapy developer Bamboo Therapeutics Inc in a deal worth up to $645 million to boost its presence in the treatment of rare diseases. Research into gene therapy, which aims to insert corrective genes into malfunctioning cells, goes back a quarter of a century but the field […]
The Minister of Trade and Investment, Dr Okechukwu Enelama, has announced the approval of the Presidential Business Enabling Environment Council chaired by the Vice President, Prof. Yemi Osinbajo. Enelama, who announced the approval by President Muhammad Buhari at a town hall meeting in Enugu on Monday, noted that the idea was to identify the various problems […]
Nigerian’s current efforts at enhancing relationship with China is not just for financial assistance but more importantly to tap from its transformation experience and narrow the trade deficit between the two countries, Budget and National Planning Minister, Senator Udoma Udo Udoma, has explained. The Minister, while interacting with staff of the Nigerian Embassy in Beijing, said […]