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  • Naira Slips to 7-Week Low at Sale as Dollar Demand Outpaces Supply

    Nigeria’s naira depreciated to a seven-week low against the dollar at a foreign-currency sale today, after the central bank failed to meet lenders’ demand for the U.S. currency for a 12th straight auction. The currency of sub-Saharan Africa’s...

    • Posted August 17, 2011
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  • Fola Daniel’s tenure as commisioner for insurance extended

    President Jonathan has renewed the tenure of Mr. Fola Daniel as Commissioner for Insurance for another term of four years beginning from August this year. A tested underwriter and administrator with experience spanning over 30 years, Daniel,...

    • Posted August 17, 2011
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  • Okonjo-Iweala returns, sworn in as Nigerian finance minister

    Nigeria on Wednesday swore in a respected former World Bank managing director as finance minister in an appointment that has raised hopes for reforms in Africa’s largest oil producer. Ngozi Okonjo-Iweala resigned her position at the World...

    • Posted August 17, 2011
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  • India needs to diversify its bilateral trade with Nigeria

    India needs to diversify its bilateral trade co-operation with Nigeria even though the present experience has been cordial and fruitful, High Commissioner to Nigeria Mahesh Sachdev has said. The envoy made the remarks before reading President Pratibha Devisingh...

    • Posted August 17, 2011
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  • NEXIM sea-link project would cost $61.5 million – Roberts Orya

    As part of efforts to deepen trade within the Economic Community of West African States (Ecowas) , the Nigerian Export Import Bank (NEXIM) has embarked on a sea-link project that would cost a total of $61.5 million....

    • Posted August 17, 2011
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  • Gas masterplan will generate $25 billion annually

    The Ministry of Petroleum Resources foresees that the Nigerian Gas Master Plan will generate $25 billion annually (about N375 billion) in the next few years. Goni Sheikh, the Permanent Secretary in the ministry, gave the projection at...

    • Posted August 17, 2011
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  • Stable Electricity in Nigeria before 2015 – Goodluck Jonathan

    PRESIDENT Goodluck Jonathan has assured that his administration would do all that it could to ensure that the country attained uninterrupted power supply in Nigeria before the end of its tenure in 2015. He made the declaration...

    • Posted August 17, 2011
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  • Daily Stock News (Aug 16,2011)

    Equity Market erased the loss recorded yesterday as market experienced strong bargain activities, taking advantage of gap-up opening witnessed in the early trade while sustained tempo witnessed in the mid-day session gave support to the impressive turnaround...

    • Posted August 17, 2011
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  • Five rescued banks to call EGMs by Sept 30 – AMCON

    Nigeria’s state asset management company (AMCON) said it expects five of the nine banks that were bailed out for $4 billion to call extraordinary general meetings by Sept. 30, so shareholders can vote on recapitalisation deals signed...

    • Posted August 16, 2011
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  • FGN Bonds: Trading dips by 35% in OTC Market

    A decline was recorded in trading in the Over-the-Counter, OTC, market for Federal Government of Nigeria, FGN Bonds, as turnover dipped by 35.48 per cent. In particular, a turnover of 184.38 million units valued at N169.011 billion was recorded in...

    • Posted August 16, 2011
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