Author: citibusinessnews
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We trust BDCs to fairly price fuel – Moses Asaga
The National Petroleum Authority (NPA) has said it trusts the Bulk Oil Distribution Companies (BDCs) to fairly price petroleum products. [contextly_sidebar id=”TdOTAHvlDTrHocCwzyTwt1Te9EhXMuLf”]The Authority’s Chief Executive Officer (CEO), Moses Asaga on the Citi Breakfast Show said although his outfit will no longer be involved in the pricing of petroleum products, it will still have an oversight…
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Nigeria’s central bank opens up on N8bn currency fraud
The Central Bank of Nigeria (CBN) yesterday explained how it discovered the N8 billion currency fraud. [contextly_sidebar id=”GEFf6ejQnm72lO8YWeD9Gb1Wkz6ovMVb”]In a statement issued yesterday, Director, Corporate Communications, CBN, Alhaji Ibrahim Muazu said, “the Central Bank of Nigeria (CBN) would like to inform the general public of the chronology of events that led the management of the CBN…
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GCB to maintain lending rates
GCB Limited has hinted to Citi Business News that it will not increase its lending rates. [contextly_sidebar id=”1floyaGDgzOX15swkm9s0j0oJyugFqUc”]According to the managing director of the bank Simon Dornoo in spite of the 100 basis points increase in the policy rate of the central bank, GCB will not increase its lending rates. The Monetary Policy Committee (MPC)…
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BoG turns down appeal of DKM microfinance customers
The Bank of Ghana (BoG) says it will not consider an appeal by aggrieved customers of DKM microfinance company over handing over their cash with the company to them. [contextly_sidebar id=”QKLnjCRXWylpKEcSUGkkCpYrAx3RgGMQ”]The customers want the central bank to give back matured investments they have in the company whiles investigations into the company for violating the banking…
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MDM Series: Firms must establish standards of performance –Prof Hinson
A Brands Consultant, Prof. Robert Hinson wants organization to establish Standards of Performance as a means to meet clients’ expectation in different areas of business. He says such a system will provide a benchmark on which employees can follow consistently bearing in mind customer feedback to grow the business. According to him, validation workshops and…
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BDCs to start setting petroleum prices this month
Government has confirmed to Citi Business News that the National Petroleum Authority (NPA) will not be involved in the pricing of petroleum products effective June 15. [contextly_sidebar id=”EqnkzxIBCdUOdcmlZh0csPiaDaNSd7qb”]This is part of the full deregulation of the petroleum downstream sector. Bulk Oil Distribution Companies (BDCs), importers of the petroleum products will be allowed the free hand…
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NLC subpoena’s adb & UNICOF
The National Labour Commission (NLC) has subpoenaed the Union of Industry Commerce and Finance (UNICOF) and the Agricultural Development Bank (adb) to appear before the commission today June 1st, 2015. [contextly_sidebar id=”yQrjnDmHB3jGDc3jptgIxSD4o5GWQ6O8″]The subpoena Citi Business News has gathered is in reference to the notice of strike given by UNICOF in a matter between UNICOF verses…