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Business News Brief – August 13, 2015



Inflation rate remains 9.2%
The National Bureau of Statistics on Wednesday released the Consumer Price Index for July 2015, stating that the nation’s inflation rate had remained unchanged at 9.2 per cent.[Read More…]

My administration will boost power supply, says Buhari
President Muhammadu Buhari on Wednesday promised that his administration would give priority to power supply in Nigeria.[Read More…]

Oil sector accounts for 80% Nigeria’s corruption —IPMAN
Nigeria’s oil and gas sector accounts for about 80 per cent of the total corruption-related issues across the country, the Independent Petroleum Marketers Association of Nigeria has said.[Read More…]

Naira now 221 as CBN sells dollars
The naira on Wednesday appreciated to 221 from 224 against the dollar at the parallel market after the Central Bank of Nigeria sold about $80m to Bureaux de Change operators.[Read More…]

CBN implementing ‘panicky’ policies —ECCIMA
the Central Bank of Nigeria to stop the slide in the value of the naira are “panicky” measures that could be counterproductive.[Read More…]

Telcos lament 50% revenue loss to WhatsApp, Skype
The increasing takeover of calling and Short Message Service by over-the-top players, or apps, such as WhatsApp and Skype, is eating deep into voice revenue of telecommunications companies in Nigeria by as much as 50 per cent, The PUNCH has learnt.[Read More…]


NNPC to be sole petrol importer, says Emefiele
Payment of subsidy on fuel importation and Foreign Exchange (FOREX) differentials on bank loans granted to marketers by the Federal Government are to end soon.[Read More…]

CeBIH confirms $50,000 annual ATM withdrawal limit
The Committee of e-Banking Industry Heads (CeBIH) yesterday confirmed Central Bank of Nigeria (CBN’s) $50,000 annual limit on Automated Teller Machine (ATM) overseas.[Read More…]

Berger Paints’ CEO unfolds growth plan
Mr. Peter Folikwe, the new managing director of Berger Paints Nigeria has outlined the company’s strategic growth plan, which is aimed at enhancing shareholders’ value.[Read More…]


Bank Debtors’ List: Nda-Isaiah Petitions CBN, to Sue Enterprise Bank for Defamation

The publisher of Leadership Newspapers and promoter of Banana Republic Limited, Mr. Sam Nda-Isaiah, has petitioned the Central Bank of Nigeria (CBN) Governor over an alleged defamation of his character by Enterprise Bank Limited.  He also vowed to sue Enterprise Bank.[Read More…]

95% of MSMEs in Africa Don’t Have Access to Loan, Report Reveals
A recent report that focused on micro, small and medium-sized enterprises (MSMEs) across Africa, has revealed that more than 95 per cent of MSMEs, operate with personal cash, which is untraceable, costly to handle and unsafe.[Read More…]

Badagry Dockyard a 100% Private Venture, Says Firm
The Badagry Ship Repair and Maritime Engineering Company (BSMEC) has responded to the ongoing controversy which trailed its recent decision to site a $1.5billion dockyard project in Badagry, Lagos State.[Read More…]


Nigeria Requires N15b Annually To Achieve 8,000mw By 2016 – TCN
The Deputy Managing Director, Transmission Company of Nigeria (TCN), Dr. Atiku Abubakar, has said that about N15 billion would be required yearly for Nigeria to achieve 8,000 megawatts of electricity by 2016.[Read More…]

Sharp Practices: Reps Urge NCC To Sanction Service Providers
The House of Representatives yesterday urged Nigerian Communications Commission (NCC) to apply relevant laws in checking what it called unethical conduct of Telecom Service Providers in the country.[Read More…]


5,000mw NIPP projects at risk as investors develop cold feet
The hope of Nigeria getting 5,000 additional megawatts  of electricity to be added to the national grid has been dashed, as the concerns which bided for the seven out ten of the National Integrated Power plants (NIPPs) have failed to make full payment of the value of the assets.[Read More…]


European stocks fall after China pushes yuan lower again
European shares extended the week’s sell-off on Wednesday after China allowed the yuan to weaken further, hitting export-focused stocks for a second straight day.[Read More…]

Asian shares gain on hopes China is slowing yuan’s descent
Asian shares gained on Thursday, taking heart from a late recovery on Wall Street and from reassurances from China’s central bank that there was no basis for further yuan depreciation after it devalued the currency earlier this week.[Read More…]


Oil Extends Gains From Six-Year Low as U.S. Crude Supplies Fall
Oil extended gains after rebounding from a six-year low as U.S. government data showed crude stockpiles fell for a third week in the world’s biggest consumer.[Read More…]


fake richard mille
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The latest and best quality materials in today's watch field are used in conjunction with precious metals to make it surrounded by a luxurious and noble aura when it is born. The detailed processing of each screw and each plane is a manifestation of its high quality. It perfectly combines the unconventional skull design with the tourbillon technology that Richard Mille is famous for. It gives people visual enjoyment and brings us thinking about the ultimate problem of life, which is evocative. endless. Coupled with a movement that has applied many advanced technologies to show the beauty of machinery in front of people, its performance is beyond doubt!