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All posts by BusinessNews Staff

  • FG shuts NERFUND, sends workers on indefinite leave

    The Federal Government on Thursday shut the operations of the National Economic Reconstruction Fund following the crisis that had crippled the agency in the last three weeks. It also directed all the workers of the agency to...

    • Posted June 18, 2016
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  • Market gains N205bn, index rises by 2.14%

    The stock market gained additional N205bn on Thursday after 32 firms made the gainers’ chart. The Nigerian Stock Exchange All-Share Index, therefore, appreciated by 2.14 per cent at the close of trading on the Exchange’s floor. The...

    • Posted June 18, 2016
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  • New forex policy will increase non-performing loans – Experts

    The demand-driven foreign exchange rate policy which was unveiled by the Central Bank of Nigeria on Wednesday may affect Deposit Money Banks with large portfolio of dollar-denominated risk assets, the Head, Banking and Finance Department, Nasarawa State...

    • Posted June 18, 2016
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  • NCAA moves to certify Lagos Airport

    The Nigerian Civil Aviation Authority (NCAA) has disclosed that it is on the verge of certifying the MurtalaMuhammed International Airport, Lagos. This is in line with the recommendation of the International Civil Aviation Organisation (ICAO), which audited...

    • Posted June 18, 2016
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  • Senate passes bill to compel FG to patronise Nigerian products

    The Senate on Thursday passed an amendment to Public Procurement Act 2007 with provisions which mandate governments at all levels to patronise locally-manufactured products. The bill was passed after the consideration of the report of the Senate Committee...

    • Posted June 18, 2016
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  • IMF, NEC welcome decision to end currency peg

    The International Monetary Fund (MF) and National Economic Council (NEC) both endorsed the decision by the Central Bank of Nigeria (CBN) to abandon its currency peg and adopt a flexible exchange rate policy, saying this was important...

    • Posted June 18, 2016
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  • CBN unveils N500bn non-oil export stimulation facility

    As part of efforts to boost activities in the non-oil sector of the economy, the Central Bank of Nigeria (CBN) yesterday unveiled a N500 billion low interest rate non-oil export facility. The banking sector regulator in the...

    • Posted June 18, 2016
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  • CBN empowers entrepreneurs, commences training for YEDP applicants

    As part of its contribution towards the development of entrepreneurs in the country, the Central Bank of Nigeria (CBN) wednesday commenced a three-day training programme for stream one applicants of its Youth Entrepreneurship Programme (YEDP) in the...

    • Posted June 17, 2016
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  • Senate constitutes committee to probe non-remittance of N1tn by NNPC

    The Senate wednesday constituted an ad hoc committee to probe the allegation by the National Extractive Industries and Transparency Initiative (NEITI) that Nigerian National Petroleum Corporation (NNPC) failed to remit over N1 trillion to the federation account...

    • Posted June 17, 2016
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  • External loans to the rescue as revenue from oil continues to dip

    Faced with a shortfall in oil revenue, the federal government will in the next three years seek external loans to finance its programmes and diversify the economy. The Minister of Finance, Mrs Kemi Adeosun, disclosed this to...

    • Posted June 17, 2016
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