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All posts by BusinessNews Staff

  • Customs ban rice importation through land borders

    The Nigeria Customs Service has re-imposed the restriction order on the importation of rice through land borders across the country with immediate effect. The Comptroller-General of Customs, Col. Hameed Ali (retd) had last October approved the reversal...

    • Posted March 24, 2016
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  • Government records N20.47bn drop in revenue

    The Federation Account Allocation Committee on Tuesday said the country recorded a shortfall of N20.47bn in gross statutory revenue from N290.96bn in January to N270.49bn in February. The Minister of Finance, Mrs. Kemi Adeosun, disclosed the shortfall...

    • Posted March 24, 2016
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  • Nigeria deserves aircraft maintenance facility – Demuren

    A former Director-General, Nigerian Civil Aviation Authority, Dr. Harold Demuren, has said that Nigeria is ripe for the establishment of aircraft maintenance facility. He said that if 40 per cent of the money spent on the re-modelling...

    • Posted March 24, 2016
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  • NAICOM to issue Identification Numbers to Insurance Policy buyers

    The National Insurance Commission (NAICOM) has said that all insurance policies issued in Nigeria will be assigned identification numbers, with effect from June this year. The commission said this would be made possible through its much awaited...

    • Posted March 24, 2016
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  • FMDQ launches new dealing membership category

    FMDQ OTC Securities Exchange (FMDQ) has introduced the specialist category of its Dealing Membership category for non-bank financial institutions (NBFIs) to act as market makers in the fixed income market. They are to be known as Dealing...

    • Posted March 24, 2016
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  • 1,000 African entrepreneurs join TEF Programme

    The Tony Elumelu Foundation (TEF) on Tuesday announced the selection of 1,000 entrepreneurs for the second round of the Tony Elumelu Entrepreneurship Programme (TEEP). Launched in 2015, TEEP is one of the largest African philanthropic initiative devoted...

    • Posted March 24, 2016
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  • FG to raise VAT, release N350billion budgeted expenditure

    The federal government has said that it will inject N350 billion budgeted expenditure to revamp the Nigerian economy in the next few months. It will equally work in collaboration with the state governments to adopt a plan...

    • Posted March 24, 2016
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  • NAICOM approves 2015 audited accounts of seven insurance firms

    Only 12 out of the existing 58 insurance firms have submitted their audited financial reports for 2015 to the National Insurance Commission (NAICON), the Commission’s Director of Supervision, Nicholas Opara has said. He said seven out of...

    • Posted March 24, 2016
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  • National Assembly to present harmonised PIB next week

    Tired of endlessly waiting for President Muhammadu Buhari to send a new draft of the Petroleum Industry Bill (PIB) to the National Assembly, the federal legislature has taken the bold step to independently initiate the bill towards...

    • Posted March 23, 2016
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  • Unemployment rate rises to 10.4% in Fourth Quarter

    The unemployment rate in the country has climbed to 10.4 per cent in the fourth quarter of last year (Q4 2015) compared to 9.9 per cent in the previous quarter, the National Bureau of Statistics (NBS) stated...

    • Posted March 23, 2016
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