Business News

Textile workers picket Ikeja Electric, lament threat to 5,000 jobs

By Joshua Olalekan, Lagos Members of the National Union of Textile Tailoring and Garment Workers of Nigeria (NUTTGWN) on Tuesday picket the Ikeja Electricity Plc over threat to 5,000 jobs due to disconnection of two textile companies.

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Federal Mortgage Bank signs $2b MoU with Shelter Afrique, REDAN

By Abimbola Fashakin, Lagos The Federal Mortgage Bank of Nigeria (FMBN) has signed a $2billion tripartite Memorandum of Understanding with Shelter Afrique, and Real Estate Developers Association of Nigeria (REDAN).

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Lagos Assembly to partner road transport union to boost tourism

By Olaolu Oladipo, Lagos Lagos State House of Assembly has promised to partner with the state branch of Road Transport Employers’ of Nigeria, RTEAN with the hope to boost tourism development ahead of Lagos at 50 celebration.

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No going back on Abuja Airport closure, FG insists

By Wahab Akanji, Abuja The Federal Government has insisted that it is not going back on the closure of the Nnamdi Azikiwe International Airport, Abuja for six weeks for repairs to be carried out.

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Guinness holds extra-ordinary meeting over N40bn rights issue

By Abimbola Fashakin, Lagos Guinness Nigeria Plc will seek to raise up to N40 billion if it secures the shareholders approval when it hold an Extra-Ordinary General Meeting (EGM) on Tuesday.

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Auto dealers say 3m job loss looms over ban in land border car import

By Abimbola Fashakin, Lagos Association of Motor Dealers of Nigeria (AMDON) has said that no fewer than three million people would lose their jobs, with the Federal Government’s ban on importation of fairly –used vehicles through the land borders.

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Eko Disco announces 9-hour outage in Lagos Island, other areas

By Joshua Olalekan, Lagos The Management of Eko Electricity Distribution Company (EKEDC) on Saturday said there would be a nine-hour power outage in Lagos Island, Victoria Island and Ikoyi on Monday January 23.

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Edo promises to build Seaport at Agenebode – Obaseki

By Tony Ehighiale, Benin City Edo State Governor, Mr. Godwin Obaseki has promised that the state government had concluded arrangement to build a Sea Port at Agenebode to fast track economic activities in the area.

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CBN set to dole out N270,000 loan each to farmers in Bauchi

By Haruna Kazaure, Bauchi Central Bank of Nigeria (CBN) under its ANCHOR Borrower Programme has promised to dole out a loan of N270,000 each to farmers in Bauchi State.

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Debt: Ecobank seeks to take over Zamfara’s fund in bank

By Abimbola Fashakin, Lagos The management of Ecobank Nigeria Plc, has prayed a Federal High Court sitting in Lagos for an order allowing it to take over funds belonging to Zamfara State Government in United Bank for Africa (UBA) Plc.

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