Kaduna To Ban Sale Of High Energy Bulbs

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By Adedapo Adesanya President Bola Tinubu has said Nigeria is ready for business in the oil sector, stressing that he is ready to tackle all the issues relating to businesses in the country. He stated this in New York on Monday while playing host to a delegation consisting of the global leadership of an oil and gas transnational giant, ExxonMobil. According to a Tuesday statement by the presidential spokesman, Mr Ajuri Ngelale, the country is no longer settling for crumbs and leftovers on the investment agenda of the world’s most prolific energy conglomerates. “Nigeria has never been more ready for

By Adedapo Adesanya The oil market rose on Friday but fell for the third straight week after a sharp decline earlier this week ahead of benchmark interest rate rises and on concern that the US banking crisis will slow the economy and affect fuel demand. Yesterday, Brent crude improved its value by $2.80 or 3.9 per cent to $75.30 a barrel, as the US West Texas Intermediate (WTI) went up by $2.78 or 4.1 per cent to trade at $71.34 per barrel. The Brent benchmark finished the week with a decline of about 5.3 per cent, while WTI plunged 7.1

By Dipo Olowookere The lack of focus as well as inadequate planning have been identified as two of the major things that ruin businesses in Nigeria. To avoid one’s business from going down the drain, an entrepreneur must key into factors that will strengthen set goals. These were the views of Mr Godswill Ogidi, who is the Chief Executive Officer of Easybiz Universal Company. Mr Ogidi, speaking during the company’s Business Summit held under the theme: ‘Entrepreneurship; one solution to Nigeria’s recession – getting your ideas off the ground’, held at the Easybiz Complex, Isheri–Igando Road, Lagos, said anyone armed

By Aduragbemi Omiyale A former Nigerian Minister, Mrs Oby Ezekwesili, has asked former Vice President Atiku Abubakar to stop parading himself as the head of the Economic Management Team of former President Olusegun Obasanjo. Mr Obasanjo governed the country as a civilian between 1999 and 2007 with Mr Atiku, who intends to become the next Nigerian president this year. He is contesting the position with the candidate of the ruling All Progressives Congress (APC), the candidate of the Labour Party, Mr Peter Obi, and others. On Monday, the former VP, through his official Twitter page, said, “As the head of

By Modupe Gbadeyanka The dispute between Financial Reporting Council of Nigeria (FRCN) and Stanbic IBTC Holdings Plc has been resolved. The disagreement was due to Stanbic IBTC’s financial statements for 2015. But after settling the matter, the FRC has allowed the bank to issue its financial statements and has been submitted to the Nigerian Stock Exchange (NSE). In view of this, the FRC has lifted the suspension on Stanbic IBTC Chairman, Mr Atedo Peterside and its Chief Executive, Mrs Sola David-Borha, enabling them to sign, where applicable, audited financial statements. In a statement to the NSE dated December 21, 2016

By Dipo Olowookere Nigeria-based world-class inspection, rope access and training company, JC International, has added another feather to its cap. The firm, which has its headquarters in Lagos, has bagged an Enhanced Survey Programme (ESP) certification from the American Bureau of Shipping (ABS). This is part of its commitment to continually meet national and international standards and provide best-in-class services to clients. It was learnt that the certification, an upgrade of the ABS Non-ESP, has qualified JC International to perform Hull Gauging services on ABS class of oil tank vessels, oil bunkers, FPSOs (Floating Production Storage and Offloading), rigs and

By Dipo Olowookere One of Africa’s leading cement makers, Dangote Cement Plc, could find itself in a liquidity crisis, a renowned credit rating agency, Moody’s Investors Service, has warned. This warning was contained in a statement issued by the global firm on Thursday on the completion of a periodic review of the ratings of Dangote Cement Plc. Dangote Cement is a company owned by a Nigerian, Mr Aliko Dangote, who is believed to be the richest man in Africa. He is the chairman of the company. In the statement issued by Moody’s today, it was stressed that the aggressive dividend

By Adedapo Adesanya The Nigerian Naira weakened against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market on Tuesday, November 2. At the spot market, the value of the local currency depreciated by 9 kobo or 0.02 per cent against the greenback to N415.07/$1 from the preceding day’s N414.98/$1. The Naira suffered this loss despite the market window recording a decline in the value of transactions as data showed that the FX turnover for the day went down by 61.0 per cent or $98.06 million. According to FMDQ Securities Exchange, transactions worth $62.58

By Modupe Gbadeyanka A Central Bank of Nigeria (CBN) stress test has shown that only large banks will stay above the regulator’s capital adequacy ratio threshold if the non-performing loans levels of the Deposit Money Banks (DMBs) should rise by 50 percent, Punch is reporting. The results of the stress test were contained in the CBN’s latest Financial Stability Report posted on its website on Thursday. According to the report, the end-June 2017 banking industry stress test, which covered 20 commercial and four merchant banks, was conducted to evaluate the resilience of the banks to credit, liquidity, interest rate and