UK lawmakers to review RBS-Lloyds ‘bad bank’
LONDON: lawmakers have demanded that Britain’s finance ministry should examine the advantages and disadvantages of breaking up state-backed lenders RBS and Lloyds. Reuters reports that the cross-party...
View ArticleTelecoms subscribers excited as number portability begins today
The commencement of Mobile Number Portability in Nigeria comes as a relief to telecoms subscribers, who have been complaining about the poor quality of services being rendered by the service providers,...
View ArticleCBN to change polymer naira notes to paper
The Central Bank of Nigeria has stopped the printing of small denomination naira notes in polymer because they fade quickly. The Deputy Governor, CBN, Mr. Tunde Lemo, disclosed this in an interview...
View ArticleBPP saves N420bn from contract vetting
The Bureau of Public Procurement has saved N420bn for the Federal Government in the last 15 months through the vetting of contracts of ministries, departments and agencies. The Director-General, BPP,...
View ArticleNigeria spends N365bn yearly on rice importation —FG
Nigeria is spending about N365bn annually on the importation of 2.1 million metric tonnes of milled rice, the Federal Government has said. According to the government, the country is currently the...
View ArticleDiamond Bank’s balance sheet now N1tn
The Managing Director, Diamond Bank Plc, Dr. Alex Oti, has said the bank’s balance sheet in 2012 hit the N1tn mark. He also said the bank would open more branches to meet the demand of its growing...
View ArticleAbuja airport to begin digital tolling
As a means of addressing security threats to air travellers, the Federal Government has concluded plans to use digital toll gates at the Nnamdi Azikiwe International Airport, Abuja. Our correspondent...
View ArticleNews Corp settles shareholder lawsuit
News Corporation on Monday said it recovered a $139m in insurance proceeds in a settlement with shareholders over the board of directors’ actions related to the company’s phone hacking scandal and its...
View ArticleBarrick puts Australian gold mines up for sale
Barrick Gold Corporation, battling heavy debt and a slump in gold prices, has put three mines in Western Australia up for sale, a person familiar with the process said on Monday. Reuters reported that...
View ArticleSouth Africa appoints new CEO for national carrier
South Africa has appointed a new chief executive officer for its national airline, South African Airways. Prior to the appointment, the airline was headed by an acting CEO, Nico Bezuindenhout, after...
View ArticleUS stocks rise on earnings
United States stocks rose, sending the Standard & Poor’s 500 Index higher for a third day, as earnings from Travelers Cos. to Netflix Incorporated beat estimates and new-home sales rose in March....
View ArticleNATE decries discrimination against HND holders
The Nigerian Association of Technologists in Engineering has urged the Federal Government to address the existing dichotomy between public service employees who graduated with Higher National Diploma...
View ArticleToyota plans assembly plant, takes RAV4 to Abuja
Toyota Nigeria Limited has announced that it is giving serious consideration to the establishment of an automobile assembly plant in Nigeria. Chairman, TNL, Chief Michael Ade.Ojo, dropped the hint in...
View ArticleMobile phones’ll be critical part of banking – Agbaje
The Managing Director, Guaranty Bank Plc, Mr. Segun Agbaje, said on Tuesday that the Nigerian banking landscape was moving towards a level where mobile phones would be a critical part of banking....
View ArticleABC Transport expands operations
ABC Transport Plc has announced the expansion of its operation with the injection of 24 new luxury buses. Already, the firm said in a statement obtained on Monday that it had taken delivery of nine...
View ArticleForces against power sector privatisation inciting labour – FG
The Federal Government has alleged that most actions undertaken by labour unions against the privatisation of the Power Holding Company of Nigeria are being promoted by forces that are not interested...
View ArticleExperts chart way forward for civil service
Experts have called for the reform of the Nigerian civil service to bring it in line with modern realities, FRIDAY OLOKOR writes. Experts who gathered at a one-day discourse on the future of the civil...
View ArticleSABMiller brings forward Clark’s appointment as CEO
Global brewer SABMiller said it had brought forward the appointment of its new chief executive, Alan Clark, Reuters reported. Clark, who has been chief operating officer since last July, had been due...
View ArticleStanbic IBTC declares N10bn profit
Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has declared a profit before tax of N11.7bn for 2012, an increase of 16 per cent above the N10.1bn recorded in 2011. According to the audited...
View ArticleMTN signs $3bn loan deal with Zenith, others
MTN Nigeria has secured loan facilities totalling $3bn (about N470bn) from a consortium of local and international financial institutions to enable it expand, modernise and improve its network...
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