By Yemisi Izuora-Lagos The Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA) has predicted that the national economy will move at a snail pace by 2015 due to dwindling oil price. The association said that high uncertainty continues to prevail in the real sector remains considering perceived effects of policies being initiated and implemented by government. According to NACCIMA, indicators from budgetary provisions and oil benchmarks as well expected cost-push inflation on consumer goods show that the budget is not in tune with reality while little attention is being given to the economy in the face of…
Author: orientalnewsng
By Yemisi Izuora-lagos Nigeria’s brightening financial standing has been underscored again as Wapic Insurance Plc a full line service provider in the industry, headquartered in the country and with operations in Ghana got global rating. Consequently, Wapic has joined a exclusive list of Nigerian insurance companies to be graded by international credit rating agency, A.M. Best. The leading global insurance rating agency based in the United Stated, rated Wapic Insurance Plc B; an affirmation of the Company’s financial strength. This is further reinforced by an Issuer Strength Rating (ISR) of BB- which was also credited to the Company. Wapic thus…
By Ijeoma Agudosi Every Christmas season of the year, business associations within the vicinity of the popular computer, As Business Ends For 2014village market situated in Ikeja, Lagos,felicitate to thank God for sparing their lives and sustaining their businesses. The market is where items pertaining to computers,laptops,i pads,mobile phone devices and all sundry IT/ICT accessories,repairs etc, are done, found and made available for both end users and technicians alike all in computer village ikeja. Last week they celebrated the end of the year signalling the close of buisness.With different plazas being decorated in the spirit of Christmas, the colour (green…
Source-Premium Times The Nigerian Electricity Regulatory Commission, NERC, said on Monday that a new tariff regime on gas supply to electricity producers in the country will to come into effect on Tuesday (Today). The Chairman of the Commission, Sam Amadi, said in Abuja that based on the new arrangement, manufacturers and other business owners in the country would henceforth be paying higher electricity prices. The Chairman, who did not disclose what the new tariff would be, said that it would not adversely affect residential electricity consumers who are expecting a hike in electricity bills in line with the Multi Year…
By Yemisi Izuora-Lagos Sterlin Bank Plc is set to lift its capital base up to N100 billion as a way to strenghten the bank and make it stronger. The Managing Director and Chief Executive Officer of the bank, Yemi Adeola, who announced this explained that the institution would start the process of concluding the multi-currency subordinated debt of N31 billion, which is about $200 million to strengthen its capital base and enable the bank do more business in the years ahead. Adeola noted that the bank plans to increase its ATM points to 1000 to mitigate the costs of Remote-on-Us…
By Yemisi Izuora-Lagos First Bank of Nigeria Limited has again pledged support for the Calabar Carnival 2014, the month-long platform for showcasing Nigeria’s rich heritage. FirstBank said it has partnered the Cross River State Government in the execution of the Calabar Carnival for the past seven years, which has given it a good platform to showcase its love and appreciation for the arts and culture, while bringing happiness and excitement to Nigerians. The 2014 edition of the festival themed, “Celebration Time” marks the 10th anniversary of the carnival and First Bank is proud to have played a lead role in…
By Yemisi Izuora-Lagos The Civil Liberties Organisation (CLO) has warned government that it will no longer tolerate abuse of office, looting of public treasury and non regard to rule of law which are major characteristics of the present administration. The CLO said it will mobilise the masses to protest lack of transparency, collapse of social infrastructure, extra-judicial execution of innocent Nigerians by the police, un-employment, abject poverty, decay of social institutions and persistent security challenges. ‘The Civil Liberties Organisation has watched with agony, how some politicians have, without conscience, plundered our patrimony and squandered our resource. Agents of global imperialism…
By Yemisi Izuora-Lagos Arik Air has said that it will provide extra flights to key domestic destinations in Nigeria in reaction to demands of passengers wishing to travel to various destinations across the country to celebrate Christmas and New Year . Arik airline spokesperson, Mr Banji Ola said the additional flights will extend from this week to next , adding “ Instead of the average 120 daily flights normally operated by Arik Air, the airline will during the festive period, increase its daily flights to an average of 140. The key domestic routes that will be affected during the festive…
By Yemisi Izuora-Lagos Speaker of the Lagos House of Assembly LAHA, Hon. Ikuforiji has sought greater collaboration with the State Accountability and Voice Initiative (SAVI) a state level program of the Department for International Development (DFID) especially in the area of training. The leadership of the House this morning paid a courtesy visit to SAVI office in Lagos to appreciate its partnership with the DFID project over the years. The Speaker who was represented by the Clerk of the House, Ganiyu Segun Abiru, admitted that since SAVI began engagement with the House, a lot of transformation had been recorded. “SAVI…
By Yemisi Izuora-Lagos SAHAM Finances S. A, the insurance arm of the SAHAM group, made its entrance into the Nigerian insurance industry. The company’s entry into the Nigeria as through its Mauritian operating company (Colina Holdings Limited), which bought 40 per cent equity stake Unitrust Insurance Company Limited. As Part of the group’s continued expansion plan, SAHAM said this investment would allow it to consolidate its West African development, importantly in the continent’s biggest economy. “The long-term shareholders of Unitrust Insurance Co. Ltd want the company to benefit from the pan-African expertise of SAHAM Finances, to become a reference point…