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All posts by BusinessNews Staff

  • Pierre Vandebeeck
    Presco lauds CBN’s forex restriction on importation

    Presco Plc has commended the Central Bank of Nigeria (CBN’s) policy to ban foreign exchange sales to certain segments of the economy, noting that this move by the apex bank will help save its hard-earned and scare...

    • Posted July 29, 2015
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  • 090715F-Godwin-Emefiele
    Widening gap in interbank, parallel forex markets spurs round-tripping

    As the Central Bank of Nigeria’s (CBN) earnings-constraining regulations as well as its tight monetary policies continue to eat deeply into commercial banks’ profitability, the yawning gap between the interbank and the parallel market forex rates has...

    • Posted July 29, 2015
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  • insurance_building
    NAICOM releases guidelines for market conduct, business practices by insurance companies

    The National Insurance Commission (NAICOM) on Tuesday released guidelines for Market Conduct and Business Practice for all Insurance institutions in the country. The Commissioner for Insurance (CFI) Mr Fola Daniels, represented by the Director of Authorisation and...

    • Posted July 29, 2015
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  • PIC 20.  OSUN OSOGBO WORSHIPPERS ON THEIR WAY TO THE GROOVE DURING THE
OSUN OSOGBO FESTIVAL IN OSOGBO ON FRIDAY (26-8-11).
    Osun Osogbo Festival to be listed on the Nigerian Stock Exchange

    Mr Ayo Olumoko, the organiser of Osun Osogbo Festival on Tuesday said plans were underway to list it on the Nigerian Stock Exchange (NSE). Olumoko said this while addressing newsmen during the unveiling of the 2015 edition...

    • Posted July 29, 2015
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  • Federal Ministry of Finance Building, Abuja
    FG’s gross revenue hits N485bn in June

    The gross revenue of the Federal Government rose for the second month in June, hitting N485.95bn ($2.44bn), Reuters reported on Monday quoting the Ministry of Finance. The amount is 33 per cent higher than the amount the...

    • Posted July 29, 2015
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  • Cars at the Ports
    Import quota: FG moves against defaulters, seals four warehouses over N23bn debt

    Nigeria Customs Service has commenced the sealing up of warehouses of four defaulting Rice Importers. “The action is intended to give a bite to several letters of warming and ultimatum to the beneficiaries of rice import quota...

    • Posted July 29, 2015
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  • electricity-NIGERIA
    Only 36% Nigerians experience improvement in electricity

    A recent poll results on the level of public electricity services to Nigerians have revealed that only about 36.4 per cent of the country’s 160 million people have seen some improvements in electricity supply in the last...

    • Posted July 29, 2015
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  • exxon-gas-flaring
    Nigeria’s gas reserves life index stands at 79 years – DPR

    The Department of Petroleum Resources (DPR) has stated that Nigeria’s gas reserves of 188 trillion cubic feet (TCF) would be exhausted within 79 years from January 1, 2015. Speaking at a recent meeting of the Nigerian Gas...

    • Posted July 29, 2015
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  • oil prices
    Oil falls below $54, threatens Nigeria’s savings

    The global benchmark Brent crude hit a four-month low of $53.33 per barrel on Monday, thereby threatening the expected accretion to Nigeria’s Excess Crude Account this year. The steep decline in oil prices had forced the National...

    • Posted July 29, 2015
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  • NSE-Building-Lagos
    NSE emerges top African regulator

    The Nigerian Stock Exchange has been named the African Regulator of The Year at the 6th African Business Leadership Forum and Awards, the Exchange said on Monday. The Chief Executive Officer, NSE, Mr. Oscar Onyema, was also...

    • Posted July 29, 2015
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  • nigerians-abroad-for-BVN
    BVN: NIBSS partners foreign firm for Nigerians abroad

    The Nigeria Inter-Bank Settlement System Plc says it has collaborated with a foreign company, Online Integrated Solutions, to enable it carry out a biometric registration of Nigerians in the Diaspora. The Managing Director, NIBSS, Mr. Ade Shonubi,...

    • Posted July 29, 2015
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  • President-Muhammadu-Buhari2-360x242
    States to repay bailout loans from allocations

    The bailout package being prepared by the Central Bank of Nigeria for the 36 states of the federation is to be deducted from their statutory allocations, findings have revealed. Investigations on Monday revealed that some state governors...

    • Posted July 29, 2015
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