All posts by BusinessNews Staff

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  Stakeholders defer NSE’s demutualisation

  Stakeholders in the stock market comprising the Nigerian Stock Exchange National Council and members have deferred the demutualisation programme of the Exchange pending an Extra-Ordinary Meeting on the subject. This resolution was made at the Exchange’s 55th...

  • Posted June 25, 2016
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  Naira devaluation, oil sector crisis threaten banks

  The capital adequacy ratios of a number of Nigerian banks will come under increasing pressure should the weakness in the naira and crisis in the nation’s oil sector persist, Fitch Ratings has said. CAR, which is a...

  • Posted June 25, 2016
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  Nigerian firm cuts gas supply to Ghana

  The West African Gas Pipeline Company said on Tuesday it had suspended the flow of gas from Nigeria to Ghana over unpaid bills by the Ghanaian government. Ghana’s state power producer, Volta River Authority, owes Nigeria’s N-Gas...

  • Posted June 23, 2016
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  NRC increases Lagos goods trains, eyes fuel haulage

  The Nigerian Railway Corporation says it has increased its capacity for goods haulage, especially dry products, in the Lagos district with the intention to capture more freight business this year. It also said the corporation planned to...

  • Posted June 23, 2016
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  Poor metering: NERC to sanction Discos from October

  Power distribution companies that fail to provide meters for all maximum demand customers on their networks not later than the last quarter of this year will be sanctioned, the Nigerian Electricity Regulatory Commission has said. According to...

  • Posted June 23, 2016
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  CIS endorses CBN’s floating exchange rate policy

  The Chartered Institute of Stockbrokers (CIS) has applauded the Central Bank of Nigeria (CBN) for the re-introduction and re-modelling of the floating single foreign exchange policy. The CIS in a statement, described the move as a bold...

  • Posted June 23, 2016
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  NPA boss foresees 2016 revenue rising as naira floats

  Revenue from Nigeria’s ports may beat initial estimates this year after the country abandoned a peg on the naira in favour of a more flexible, market-driven exchange rate policy, to alleviate dollar shortages that had been hurting...

  • Posted June 23, 2016
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  NAICOM approves NICON Insurance 2014 Accounts

  The National Insurance Commission (NAICOM) has approved the 2014 audited financial statement of NICON Insurance Limited. The approval was granted following the confirmation by the insurance apex regulator that NICON had substantially complied with regulatory requirements. The...

  • Posted June 23, 2016
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  NSE Index hits new high as bulls return to Stock Market

  The Nigerian Stock Exchange (NSE) All-Share Index (ASI) hit a new high yesterday as the Bulls returned to the stock market following successful take-off of the flexible foreign market. The ASI, which fell by 1.63 per cent...

  • Posted June 23, 2016
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  FG unveils new debt management strategy

  The federal government has unveiled a new debt management strategy to run from 2016 – 2019 aimed at a marginal increase in external borrowing and increased commitment to capital projects execution. The Director General of the Debt...

  • Posted June 23, 2016
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