Nigerians above 18 with a steady paycheck will now be able to access up to N5 million housing loan from the Federal Mortgage Bank of Nigeria without equity contribution.This is one of the new conditions for accessing mortgage funds from the bank.According to a statement by Zubaida Umar, the revised requirements are a 100% reduction in the equity contribution required [...]
Ernest Mupwaya, managing director of Abuja Electricity Distribution Company (AEDC), says the firm is committing N10 billion to the provision of 222,728 pieces of meters in the next five months.He disclosed this on Wednesday while flagging the installation of the prepaid meters at CITEC estate in Abuja.Mupwaya said the installation of the new set of prepaid meters will benefit the [...]
Activities on the Nigerian Stock Exchange (NSE) ended in the red as stocks shed a total of N87 billion between Monday, August 6 and Thursday, August 9.Market capitalisation dropped to N13.22 trillion on Thursday; the last time it was in such corridors was in December 2017.There were 22 losers at the end of Thursday's trading day as against 12 gainers.NAN [...]
The Nigerian Communications Commission (NCC) says MTN, a telecommunications company, must complete its listing on the Nigerian Stock Exchange by May 2019.Speaking during an interactive session with journalists on Wednesday, Umar Danbatta, NCC executive vice chairman, said the commission is conducting fresh due diligence on Teleology, the preferred bidder for 9mobile.A listing on the stock exchange had been one of [...]
Toyin Adeniji, executive director of Bank of Industry (BOI), says the organisation has put in place initiatives to support two million traders with interest-free loans.While unveiling the ‘Trader Moni’ initiative in Lagos on Tuesday, Adeniji said BOI will not relent until every Nigerian has access to loans, irrespective of their status or level of education.She said the aim of the initiative is [...]
Amy Jadesimi, managing director of Lagos Deep Offshore Logistics Base (LADOL), says the company will collaborate with the federal government to ensure fairness in the review of free zone tariffs.Jadesimi said this will help foreign and local investors with operations in the free zone to benefit from the scheme in line with the government’s ease of doing business mandate.She made [...]
The Nigeria Communications Commission (NCC) has signed a memorandum of understanding (MoU) with the National Lottery Regulatory Commission (NLRC) to improve the operations of lottery services.The commissions are seeking to ensure that the telecommunications operators have the capacity to provide credible lottery services.Umar Danbatta, executive vice-chairman of the NCC, explained that the hosting of lotteries by telecommunications operators may degrade their quality of service which is [...]
The Nigerian Naira continued to witness stability against a weaker Dollar during Tuesday’s trading session.Although the local currency could remain buoyed by repeated central bank intervention, external risks in the form of global trade tensions could create headwinds down the road. With speculation of higher U.S interest rates also boosting the Dollar and accelerating capital outflows from emerging markets, this is certainly [...]
The Central Bank of Nigeria (CBN) may increase monetary policy rate (MPR) if inflationary pressures do not abate, Joseph Nnanna, deputy governor of the apex bank, has told Bloomberg.Nnanna said although the monetary policy committee (MPC) wants to keep the major determinant of interest rate positive, the anticipation of increased spending ahead of the 2019 elections could slant some members’ votes toward [...]
Jumoke Oduwole, senior special assistant to the president on industry, trade and investment, says Nigeria "must achieve its goal of attaining the top 100 by 2020" in the ease of doing business ranking.Oduwole is also the secretary of the Presidential Enabling Business Environment Council (PEBEC).Speaking after the presentation of the 2018 Making Business Work Report of PEBEC on Monday, Oduwole said [...]
