City BusinessNews, Author at City Business News

December 8, 2015 No Responses

Buhari opposes social media bill

Citing the commitment of his administration to protect free speech in keeping with democratic tradition, President Muhammadu Buhari has pledged not to assent any legislation that might be inconsistent with the constitution. Reacting to the public outcry against the bill,...

December 8, 2015 No Responses

FG Proposes N6tri Budget For 2016

For the fiscal year 2016, the Federal Government has proposed a budget of N6 trillion, allocating 30 percent of the budget to capital expenditure. It has also approved and submitted the Medium Term Expenditure Framework ( MTEF), to the National...

December 8, 2015 No Responses

Oando gets approval to raise N80b

Shareholders of Oando Nigeria Plc have approved the company’s quest to raise N80 billion by way of rights issue to existing shareholders. The shareholders also approved plan to divest any or all shareholding and investment in the downstream business...

December 7, 2015 No Responses

NAICOM delists 108 insurance brokers

The National Insurance Commission has removes 108 insurance brokers, out of the list of 421 licensed practitioners operating in the country, for failing to renew their licences. Sources from NAICOM told The Punch that the affected brokers had been operating...

December 7, 2015 No Responses

Govt proposes partial for refineries

As part of measures to operate refineries as profitable ventures, the Federal Government has concluded plans to grant semi-autonomy to the entities. Meanwhile, the Federal Government has expressed its readiness to raise funds from international investors an...

December 5, 2015 No Responses

MTN to pay N780b, not N647b, says NCC

The Nigerian Communications Commission has clarified that the fine of N1.04trillion imposed on the MTN Group was reduced by 25 per cent, and not 35 per cent as initially reported. According to NCC, the company will now have to pay...

December 5, 2015 No Responses

NIMASA shuts Jetties in Port Harcourt, Calabar

The Nigerian Maritime Administration and Safety Agency (NIMASA) exercising its powers as the Designated Authority (DA) for the implementation of the International Ship and Port Facility Security (ISPS) Code has shut the Magcobar Manufacturing Limited jetty at ...

December 4, 2015 No Responses

Super Eagles drops to 66th position

The Super Eagles of Nigeria have dropped seven places to 66th in the latest Fifa world ranking released on Thursday morning. The Super Eagles gathered a total of 541 points to fall to no. 14 in Africa behind Cote d’Ivoire,...

December 4, 2015 No Responses

FAAN pledges more allowances for staff

The management of the Federal Airports Authority of Nigeria (FAAN) has agreed to increase allowances and claims for workers in the agency. This was contained in a communiqué singed by leaders of three aviation unions and the management team of...

December 4, 2015 No Responses

FG reduces MTN fine to N674b

The Federal Government through the Nigerian Communication commission (NCC) has reduced MTN fine from N1.otrillion to N674 billion. Meanwhile, the South African telecommunication giant has announced the resignation of the head of its Nigerian operations, Mi...

December 4, 2015 No Responses

LCCI to inaugurate Akande as president Saturday

The Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to formally inaugurate Chief (Mrs.) Nike Akande, as President of the Chamber on Saturday 5th December, 2015 at an Investiture Ceremony billed to hold at the Grand Ball Room...

December 3, 2015 No Responses

$8.3b rail project tops agenda as Buhari meets chinese leader

President Muhammadu Buhari will today in South Africa participate in the Forum on China/Africa Cooperation (FOCAC) taking place in Johannesburg. A statement issued by the Senior Special Assistant to the President, Garba Shehu, explained that President Bu...

December 3, 2015 No Responses

Govt insists on use of technology for development

President Muhammadu Buhari’s administration is interested in using technology to fast track the country’s growth and development, Vice President Yemi Osinbajo has said Speaking while signing a Memorandum of Understanding (MoU) between the Federal Governm...

December 3, 2015 No Responses

FG to raise N50b in 2020, 2024 bonds

The Federal Government has concluded plans to raise N50 billion in local currency denominated bonds maturing in February 2020 and March 2024 at its last debt auction of the year on Dec. 9. According to the Debt Management Office (DMO),...