In a bid to attract more investors to the Nigerian capital market, the Nigerian Stock Exchange, NSE, has decided to scrap the 0.06 per cent charge on the Trade Alert service from March 2014. While the management of the exchange scraps the old alert system, it has introduced X-Alert, an enhanced notification system, which…
NSCDC Clamps Down on Petrol Hoarders
The Nigeria Security and Civil Defence Corps, NSCDC, Ogun State command, has arrested some petrol attendants for selling petrol above the approved pump price. Officials of the command went round some petrol stations over the weekend, and found out that many of the stations have fuel in their underground tanks, yet claimed otherwise in…
Bullet-Proof Cars: Court Grants EIE Access to Documents
Enough is Enough, EIE, Nigeria, a non-governmental organisation, has been granted leave by a Federal High Court, Lagos, to apply to the court to compel the Nigerian Civil Aviation Authority, NCAA; First Bank of Nigeria, FBN; and Coscharis Motors Limited, to disclose the information requested by the organisation on the purchase of two bullet-proof…
Minister Launches Broadband Campaign
Omobola Johnson, minister of communications technology, is one of the few Nigerian ministers who are passionate about how their ministries can contribute to the growth of the economy. The minister, during the soft launch of the Broadband awareness campaign organised by Compact Communications Limited in Lagos, disclosed that the information and communication technology, ICT, would…
Rallying Against Subsidy Scam
A coalition of human rights activists and non-governmental organisations has taken up the gauntlet to enforce the recovery of various huge sums of money diverted from the Federation Account It is a rare collaboration but one that has the common good of Nigerians as its sole objective. Femi Falana, fiery Lagos lawyer and counsel to…
Nigeria Scares Away Foreign Investors – Benjamin Akande, US-based economist
Nigeria is popularly known as the giant of Africa and the growth rate of its economy, which is rated among the best in the world, above the United States, US, and United Kingdom, UK, confirms that lofty position. Aside from the state of the economy, most of the successful physicians, businessmen, and academics in the…
Keke Marwa: New Business Frontier for Women
Driven by the need to make ends meet, many women have abandoned their traditional area of business to become commercial tricycle operators, which they consider more profitable Time was 7.30am, Tuesday, February 4, 2014, and Bose Ogunlana, 34, had just finished preparing her three children for school. She too was getting ready to leave the…
IDH to Establish Ethanol Refinery in Edo
Efforts by the Edo State government to industrialise the state are beginning to bear fruits. Recently, Industrial Development Holding, IDH, a group of South African investors, expressed its resolve to turn Edo State into the China of Africa, beginning with the establishment of an ethanol refinery in the state. Mxolesi Mbetse, executive chairman, IDH, told…
Akure Airport Now Cargo Terminal
The Akure Airport has been designated a perishable and non-perishable cargo airport by the federal government. Stella Oduah, minister of aviation, announced this during her courtesy visit to Olusegun Mimiko, governor, Ondo State, recently. According to the minister, the perishable cargo terminal project at the airport is meant to harness the agricultural export capacity of…
Boom or Burst for Investors?
The Nigerian Stock Exchange outperformed others in Africa in 2013 posting 44.6 per cent return on investment, which experts say is a reflection of the growth of the economy. But are the returns sustainable? Since the Nigerian stock market witnessed a near crash in 2009, several investors have been sitting on the fence. However, with…
