All posts by BusinessNews Staff

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  FG orders banks, financial institutions to suspend further retrenchment

  As economic downturn hits the nation harder, the federal government, yesterday, directed all banks and financial institutions to suspend staff retrenchment. Minister of Labour and Employment, Chris Ngige issued the directives yesterday. He said: “Following the high...

  • Posted June 5, 2016
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  Ajibola sworn in as CIBN president

  The Chartered Institute of Bankers of Nigeria at its Annual General Meeting held recently elected Professor Segun Ajibola as its 19th President and Chairman of Council. Ajibola will oversee the affairs of the institute for the next...

  • Posted June 5, 2016
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  More innovation needed for financial market – CBN

  Operators in the country’s financial market need to leverage technological innovations to drive the growth of the market, while forestalling a possible occurrence of a market failure, the Director, Banking and Payment Systems Department, Central Bank of...

  • Posted June 4, 2016
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  Cooking gas price rises by 45%, marketers lament

  The price of Liquefied Petroleum Gas, popularly known as cooking gas, has jumped by 45 per cent in less than a week amid scarcity of the product. Our correspondent gathered that the price of 20 metric tonnes...

  • Posted June 4, 2016
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  Foreign airlines lose Nigeria’s high yield market to economic downturn

  THISDAY investigations have revealed that foreign airlines lose about $200 million monthly to the present economic crunch in Nigeria, which has forced potential travellers to defer their trips due to lack of disposable income. Also, there is...

  • Posted June 4, 2016
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  Lagos restates commitment to SMEs

  The Deputy Governor of Lagos State, Dr. Idiat Oluranti Adebule, has expressed the commitment of the state to promote the growth of Small Mediums Scale Enterprises (SMEs). This, she said followed the recent inauguration of the N25...

  • Posted June 4, 2016
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  Pension funds rise to N5.4tn

  Director-General, National Pension Commission,(PenCom), Mrs Chinelo Anohu-Amazu has revealed that Nigeria’s pension funds now stand at about N5.4 trillion with approximately seven million contributors. Anohu –Amazu who spoke Anohu-Amazu said this while speaking on the Role of...

  • Posted June 4, 2016
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  Again, Nigeria’s Manufacturing Index declines

  Nigeria’s Manufacturing Purchasing Managers’ Index (PMI) rose to 45.8 index points in May 2016, compared to 43.7 in the preceding month. This according to the PMI report for May 2016 posted on the Central Bank of Nigeria’s...

  • Posted June 3, 2016
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  FG plans London Bond talks as naira move looms

  Nigerian officials are meeting bond investors in London next week, according to a person familiar with the matter, as the government considers tapping international debt markets for the first time in three years to help finance its...

  • Posted June 3, 2016
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  Investigative hearing reveals shady deals in 2005-2007 oil bid rounds

  The House of Representatives ad hoc committee investigating all oil bid rounds has heard details of shady deals in the tenders for the 2005-2007 bid rounds. The committee wednesday heard that none of the companies that won...

  • Posted June 3, 2016
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