By Foster Obi Following economic recession that almost erased demand for housing loans in Nigeria, Africa’s most-populous country, the state financed mortgage guarantor, Nigeria Mortgage Refinance Co(NMRC) is anticipating that a return to growth will help double its asset base and create a robust platform for mortgage financing. Set up four years ago to copy […]
There are indications that a glut in Nigeria’s oil supply to the international market loom as plenty supply of light and medium grades from the North Sea and the Mediterranean continues to limit buying interest for Nigerian crude. The Nigerian cargoes, reckoned to be near 50 cargoes, was said to be weighing on the market, […]
Forbes magazine said on Thursday it was excluding all Saudi Arabian tycoons from its annual list of the world’s richest people after dozens of top businessmen from the oil-rich kingdom were detained in a crackdown on corruption last year. Most detainees were released after reaching settlements with the authorities, who say they arranged to seize […]
Staff of Nokia Solutions Networks Ltd in Nigeria Thursday started a three-day warning strike to protest anti-labour practices by the management of the company. The workers said they embarked on the strike as members of the Private Telecommunications and Communications Senior Staff Association of Nigeria. The General Secretary of the association, Mr Okonu Abdullahi, said […]
BlackBerry is suing Facebook for copyright infringement, claiming the social media giant uses technology invented by the former smartphone maker in Facebook’s massively popular messaging applications. Apps like Facebook, Instagram and WhatsApp use some messaging capabilities that were originally designed by BlackBerry, a spokeswoman for the company said in an email. “We have a strong […]
Dana Air on Thursday said it welcomes the decision of the Nigerian government to carry out a complete audit of its operation. The Federal Government on Wednesday ordered a complete audit of the operations of the airline, following recent near-mishaps involving the airline. In an incident in February, one of the exit doors of the […]
By Foster Obi Indonesia has expressed desire to buy more crude oil from Nigeria. A press statement by the Nigerian National Petroleum Corporation (NNPC), signed by Ndu Ughamadu, Group General Manager, Group Public Affairs Division said the request was made by the Head of Economic Affairs of the Indonesian Embassy, Mr. Dwiyatna Widinugraha, who led […]
The United States of America (U.S.A) has warned African leaders on the implications of shopping for loans from china to finance projects. Secretary of State Rex Tillerson said on Thursday that African countries should weigh Chinese loans carefully. He said that Washington was not trying to keep Chinese investment away from the continent. Tillerson, a […]
Nigeria’s parliament passed legislation on Wednesday meant to help authorities tackle money laundering and funding for terrorism by allowing its financial intelligence unit to operate free of state control. The move is aimed at removing bureaucracy impeding investigations of financial crime and was taken under international pressure on Nigeria to crack down on endemic corruption […]
The Securities and Exchange Commission (SEC) has extended its free e-dividend registration deadline to March 31. A senior management staff in the commission, who pleaded anonymity said in Lagos. The official said that the deadline was extended in principle for the third time for the operators to clear their e-dividend backlogs. E-dividend refers to online […]