Tuesday 16 February 2016

Naira falls to N345/$ in parallel market


                                                    forex

The Naira yesterday suffered its biggest daily depreciation against the dollar as the exchange rate rose to N345 per dollar in the parallel market.

This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday.

Monday 8 February 2016

NIGERIA: SMEs central to government’s diversification bid – Regha


Mr. Davidson-Regha

 In Business, Finance, Interview, News by Tony ChinonsoComments Shares Mr. Davidson Regha is General Manager and Divisional Head, Retail & SME Banking, Heritage Bank Limited. He is responsible for providing the strategic thrust of the Retail and SME Division with reporting responsibilities to the Group Managing Director/CEO. He was seconded to Enterprise Bank Limited in November 2014 after its acquisition by Heritage Banking Company Limited as Acting Executive Director to oversee the business of Lagos and Corporate Banking Divisions.

Friday 5 February 2016

220 firms owe AMCON N1.14 trillion



Asset Management Corporation of Nigeria (AMCON) yesterday said that Seawolf Nigeria Limited, and 219 other companies are indebted to it to the tune of N1.14 trillion.

This was contained in a list of debtors released yesterday by the Corporation for publication in major newspapers. The list reveals that the top debtors owe the Corporation N479.33 billion, representing 42 percent of the total indebtedness.

The top ten debtors’ list is led by Seaworlf   Nigeria Limited with N160 billion. Others in the top ten debtor’s category include: Tanzila Petroleum Limited-N49.23 billion; Resort International Limited-N36.3 billion; Home Trust Savings-N25.75 billion; Suru Worldwide Ventures-N24.41 billion. Others are Roygate Properties-N23.26 billion; Ziglagsis Network Limited-N20.33 billion; Lexcap Partners-N18 billion; and Anyiam Osigwe Limited-N17.25 billion.

Source: Vanguard News By Babajide Komolafe

LG launches 10.10.10 warranty package


LG electronics recently launched the much anticipated 10.10.10 package which offers customers a ten-year warranty on a variety of products ranging from Refrigerators, Chest Freezers and Air Conditioners with Inverter Lunear Compressor/ Inverter Compressor.
Other products with this warranty are Washing Machines with Inverter/ Direct Drive Motor, Charcoal Lighting Heater in micro wave and Cordless Vacuum Cleaner with Smart Inverter Motor.
Spokesperson for LG Electronics, Mrs. Blessing Obiesie  told journalists at the event held in Lagos that the initiative was formed by the need to make more customers enjoy  value durability on major LG products; a feat that was once the exclusive preserve of premium customers.”
She said: “ Prior to now, we had warranty of two years on our products. But for some of our premium ones such as the big sized freezer, and the big Air Conditioners, the warranty was 10 years. Right now, we have extended the 10-year warranty to smaller products like the refrigerator, small freezers, microwave, vacuum cleaners and washing machines.”
Her words ,” This campaign is to tell our customers that apart from premium customers enjoying this warranty, average customers will now enjoy a whole lot of products.”
Continuing she said: “The prices remain the same. LG as a brand is set to give its customers value for product bought via durability and through cost effectiveness by making the products affordable to all customers.”
Source: Vanguard Business By Elizabeth Uwandu

Wednesday 3 February 2016

Wine Tourism in South Africa May Double by 2025 as Rand Tumbles


 
 
Tourism based on South Africa’s wine industry has the potential to more than double in size in the next nine years as the declining value of the rand makes the country increasingly attractive to visitors, according to an organization representing producers.

The market could grow to 15 billion rand ($930 million) in 2025 from 6 billion rand now, said Rico Basson, managing director of Vinpro, which has 3,600 wine producers and cellars as members. It’s among local groups supporting the Wine Industry Strategic Exercise, or WISE, to develop the economic potential of wine tourism in South Africa, which is growing by 7 percent a year, according to Basson.

Tuesday 2 February 2016

Entrepreneurial Education Revolution: An Imperative for Sustainable Development in Nigeria (2)


 

Nigeria faces a number of challenges that can only be met if it has innovative, well-educated, and entrepreneurial citizens who, whatever their walk of life, have the spirit and inquisitiveness to think in new ways, and the courage to meet and adapt to the challenges facing them.
Moreover, a dynamic economy, which is innovative and able to create the jobs that are needed, will require a greater number of young people who are willing and able to become entrepreneurs, young people who will launch and successfully develop their own commercial or social ventures, or who will become innovators in the wider organisations in which they work.

Monday 1 February 2016

N5.2trn Pension fund: Fashola advocates investment in real sector


 
Federal government efforts at containing the massive corruption embedded in pension fund in time past may have achieve results but not enough to allow the N5.2trillion lay fallow, says the Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola The Minister at the Nigerian Pension Industry Strategy Implementation Road Map Retreat organised by the National Pension Commission (PenCom) retreat held in Abuja penultimate Friday, advocated proper use of pension fund to build the required infrastructures for a rapid development for the country.