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Business
Tuesday, 29 January 2013 15:15

Playing Hide-and-Seek with Customers’ Funds

Published in Business Written by Adekunbi Ero
Thomas Joel-Onowakpor
    Officials of Delta State government raise eyebrows over N1 billion tax revenue reportedly missing, calling on the relevant authorities to investigate the alleged fraud It started as claims and counterclaims by the Delta State Board of Internal Revenue, DBIR, and Chevron Nigeria Limited, CNL. The multinational oil company claimed it had paid N1.1 billion tax into DBIR’s account, but the board denied receiving the money, saying that it did not receive an alert from its banker to that effect. Thomas Joel-Onowakpor, executive chairman, DBIR, is now concerned as both Union and Diamond banks, the two banks involved in…
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Tuesday, 29 January 2013 13:24

NSE Introduces FIMM

Published in Business Written by Abiola Odutola
    The Nigerian Stock Exchange, NSE, has introduced the Fixed Income Market Making, FIMM, to increase accessibility of the bond market to the investing public today. Before now the bond market was mainly accessible to the institutional, corporate and high networth individuals through the over the counter, OTC, market. But according to Oscar Onyema, chief executive officer, CEO, NSE, all investors will now have access to the bond market through their brokers/dealers via the NSE Automated Trading System.     The FIMM is a platform that allows debt market’s participants to trade listed debt instruments issued by the Federal…
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Friday, 04 January 2013 11:45

Banks to introduce electronic transfer receipt

Published in Business
School of Banking Honours, in conjunction with First Bank of Nigeria, Stanbic IBTC and Unity Bank, are starting the initiative of introducing N50 stamp in the form of bank teller receipts, electronic transfer receipt with values of N1000 and above, as provided by the stamp duty Act 2004, and NIPOST Act 2004.   Th initiative, which has NIPOST, as the principal partner, and School of Banking Honours, as the consultant, is expected to generate N50 billion a year into government coffers.
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Thursday, 03 January 2013 18:49

More Winners Emerge in Sterling Bank Promo

Published in Business Written by Abiola Odutola
  Sterling Bank plc rewards its customers in its on-going MoneyGram 'gear up for school promo' for their patronage using the bank’s channels to transfer and receive funds abroad. The winners which were selected during a national raffle draw in Lagos, were Olalekan Alominle (Marina branch); Adenike Daniel (Iwo Road branch); Femi Adams (Ogba branch); Wole Oweye (Idimu branch);  and Charles Ude (Alaba 1branch). Others are Tele Adedoyin (Oke Ado branch) and Idowu Kolawole (Demurin branch). Gift items won included netnote books and backpacks. While presenting the gifts to the winners, Abdul-Fattah Amoo, group head, e-Channels, Sterling Bank, said the…
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Thursday, 03 January 2013 16:33

Capital Market Hits N9 Trillion

Published in Business Written by Abiola Odutola
    The New Year started on an optimistic note during trading on the floor of the Nigerian Stock Exchange, NSE, as major indicators maintained an upward movement in a three-day gaining streak.   The market capitalisation of the 186 first tier equities, which closed 2012 transaction at N7.91 trillion, rose to N9.10 trillion as at January 3. The all-share index also increased from 27,866.51 by December 31, 2012 to 28,501.21 as at January 3.   The financial sector led the market transaction volume with 134.20 million units valued at N1.21 million exchanged in 1,655 deals as against 93.57 million…
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Wednesday, 02 January 2013 13:04

Honing Entrepreneurial Skills

Published in Business Written by Eunice Nze-Peters
Godwin Omene, MD/CEO, NDDC.
    Through an incisive public lecture, the Chartered Institute of Personnel Management brings to the fore the burning issue of unemployment   With an increasing unemployment rate, there is a shortage of specialists in key sectors of the economy. That worrisome statistic informed the theme of this year’s annual public lecture of the Chartered Institute of Personnel Management, CIPM, Skills Acquisition And Entrepreneurship: Prerequisite For National Development, which aimed at bridging the gap between unemployment, skill acquisition and entrepreneurship.   Godwin Omene, guest speaker and former managing director/chief executive officer of Niger Delta Development Commission, NDDC, pointed out the…
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Tuesday, 11 December 2012 12:39

Revving the Economy the Capital Market Way

Published in Business Written by Tony Manuaka
Revving the Economy the Capital Market Way
    Experts map out strategies on how to use the capital market to drive government’s economic transformation agenda   For Arunma Oteh, director-general, DG, Securities and Exchange Commission, SEC, being more innovative, courageous and more pragmatic are fundamental steps that must be taken in order to grow a capital market, which can drive rapid economic prosperity as captured in the Transformation Agenda of the present administration. She poses further questions: “How can we create a market that can help to diversify our economy away from oil to a broad-based and more robust economy? How can the capital market play…
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More...

Economy: Long Road to Global Stage

Enter BMW 7 Series LCI

SON Hosts Nigeria Quality Summit

Power Sector Reform Blues

Re-aligning for Better Service Delivery

Boost for the Hospitality Industry

Grey Goose Partners EJAF

Prolific Microfinance Bank Raises Fund

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CAF's Asking Price for AFCON 2013 Broadcast Rights is Outrageous



CAF's Asking Price for AFCON 2013 Broadcast Rights is Outrageous

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Business

Long Walk to e-Dividend

IFC Partners Guinea on Pr

FG Recovers $2 Billion fr

NCC Slams GSM Operators

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A Carnival of Love for Il

A Carnival of Love for Ileso, Edosa

A Lift for the Entertainm

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ENCOMIUM KICKS OFF PLANS

ENCOMIUM KICKS OFF PLANS FOR 4TH EDITION OF THE BLACK AND WHITE BALL

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Tackling the Impotency Challenge

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Confronting the Lassa Fever Challenge

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Nigeria Beat Burkina Faso

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