Category Archives: Business & Economy

S’Africa’s debt becoming uncomfortable –IMF warns


South Africa’s public debt which is approaching rating agencies’ red line of 60 per cent of economic output is reaching uncomfortable levels, an IMF official said on Thursday. Montfort Mlachila, the Fund’s senior resident representative in South Africa, told a

Polaris unveils collateral-free salary advance solution


POLARIS Bank has launched a quick credit solution called “Polaris Salary Advance”. Polaris Salary Advance is a customer-led product that enables employees to get up to 50 per cent of their net monthly salary to meet basic needs before their

Ecobank trains graduates


NEW set of Graduate Trainees have commenced their entry level development programme at the state of the art Ecobank Nigeria Academy in Lagos. The programme, launched in July this year is an intensive eight-week medley of learning interventions for fresh

Masters Energy Group repositions for excellence

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THE  board of  Masters Energy Group has constituted a new management following the  resignation of Dr Uchechukwu Sampson Ogah from the board. This follows the appointment of Dr Ogah as Minister Designate  to represent Abia State by His Excellency, President

FG to inject $300m in 5,000 SMEs agribusiness


The Federal Government has earmarked the sum of $300million (about N110billion) as a support initiative for about 5,000 Small and Medium Enterprises (SMEs) in the agribusiness. Speaking at the launch of the scheme in Abuja, recently, Vice President Yemi Osinbajo,

Agusto & Co assigns ‘Aa -’ rating to UBA


Nigeria’s leading credit rating agency, Agusto & Co. Limited, has assigned an “Aa-” rating to United Bank for Africa (UBA) Plc. The agency said the latest rating  assigned to UBA reflects the bank’s performance as underpinned by its good liability

Labour accuses CBN, ministry of frustrating NIPOST reforms


The Senior Staff Association of Statutory Corporations and Government-Owned Companies has accused the Central Bank of Nigeria ( CBN ) of frustrating the proposed reform of the Nigerian Postal Service ( NIPOST ). The union also listed the Federal Ministry

Be vigilant against Ebola, NCAA warns airlines


The Nigerian Civil Aviation Authority ( NCAA ) has directed all airline operators, especially those operating regional and international flights into the country to exercise a high level of vigilance following the resurgence of the Ebola Virus Disease in the

FG’ll pay ‘failed investors’ N736bn to repossess Discos

Nigeria’s power transmission-Electricity-TUC

The Federal Government is considering repossession of 10 electricity distribution firms as one of the options to rescue the nation’s beleaguered electricity industry. This is coming ahead of the scheduled final performance review of the private firms that bought into

EcobankPay transactions value hits N1bn


EcobankPay, the lifestyle digital payments and collections service of Ecobank Nigeria has recorded a cumulative transaction value of over N1 billion. EcobankPay offers customers a multi-channel payment experience including: Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa),  Merchant