The Nigerian Institute of Public Relations, NIPR, Rivers State chapter, honours Jossy Nkwocha, head, corporate communications, Indorama Eleme Petrochemicals Limited, IEPL, Port Harcourt, with its award of professional excellence in public relations practice. Samuel Toby, chairman of the chapter, explained that the award was in recognition of Nkwocha’s immense contributions to the chapter, which has…
New Cooling System for MMA
The federal government will soon install a new cooling system at the Murtala Muhammed Airport, MMA, Lagos. Yakubu Dati, general manager, public communications, Federal Airports Authority, FAAN, explained that the government has opted for a complete replacement of the cooling system at the terminal as a lasting solution to the epileptic cooling system, which was…
HarvestPlus Spreads Pro Vitamin A Cassava
It is no longer news that Nigeria, producing over 34 million tonnes annually, is the largest producer of cassava in the world. But the recent spread of pro vitamin A cassava variety, popularly known as ‘yellow cassava’, across the country by HarvestPlus Nigeria, a research institute that is committed to breeding crops for better nutrition,…
CBN Removes Forex Limit
The Central Bank of Nigeria, CBN, has authorised the removal of the $250,000 weekly foreign exchange sales limit placed on bureaux de change, BDC, operators in the country. The announcement came a week after Lamido Sanusi, CBN governor, vowed to address the widening gap between the naira-dollar exchange rates in the official market and parallel…
UBA Increases Investments in Major Sectors
To United Bank for Africa, UBA, investing in the power sector of Nigeria should be the priority of all investment banks. To lead the way, Phillips Oduoza, group managing director, announced that the bank had extended its investment to N113 billion to different investors towards the acquisition of power assets in the country’s power sector.…
Grohe Germany Enters Nigerian Market With New Products
In its bid to penetrate the Nigerian market, German multinational company, Grohe, has introduced new designs of its products to end-users in the country with plans to capture the West African market. Some of the products unveiled by luxury and kitchen fittings manufacturer include Grandera 5-hole bath/shower, 3-hole washbasin mixer, towel rail, bathtub, floor and…
Transcorp and GE Partner to Improve Power Generation
The Transnational Corporation of Nigeria Plc, Transcorp, has notified the Nigerian Stock Exchange, NSE, that Transcorp Ughelli Power Ltd, TUPL, its subsidiary, has signed an agreement with General Electric, GE, to increase the capacity of TUPL’s power plant from 360 megawatts to 1360 megawatts in the next three to five years. Both parties also signed…
FG Attracts Investors to the Power Sector
To facilitate the financing of power infrastructural development in Nigeria, the President Goodluck Jonathan-led administration is inviting both prospective investors and financiers to an international conference on February 10, 2014 at the state house Banquet hall, Abuja. The event is expected to facilitate interaction between new investors and local and international financial institutions to explore…
Mobile Market: Stock Trading on the Go
The transformation could not have come at a better time. Indeed, expectations are rife that the X-Gen platform, an information technology, IT-driven innovation, introduced by the Nigerian Stock Exchange, NSE, and Securities and Exchange Commission, SEC, with the support of capital market operators, will more than previous initiatives make the Nigerian capital market more competitive…
Naira Palaver for Traders
Growing scarcity of lower denominations of the naira is hurting living and commerce alike A strange report of sudden shortfall in unfit-for-circulation currency notes meant to be destroyed began filtering out of the Mint Inspectorate, MI, at the Nigerian Security Printing and Minting, NSPM, recently. Designated as a currency security unit supervised by the Central…
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