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All posts by BusinessNews Staff

  • CBN extends BVN registration for Nigerians abroad

    The Central Bank of Nigeria has extended the Bank Verification Number registration exercise for Nigerians abroad from January 31 to June 30, 2016. The CBN, in a circular on Thursday, said the extension would allow Nigerian bank...

    • Posted February 6, 2016
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  • Nigeria’s 2015 GDP, lowest in 15 years − Adeosun

    The Minister of Finance, Mrs Kemi Adeosun on Friday said the growth recorded by the country in the 2015 fiscal period was the lowest in the last 15 years. Nigeria’s Gross Domestic Product grew by 2.84 per...

    • Posted February 6, 2016
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  • Why we sanction telecoms operators – NCC

    The Nigerian Communications Commission uses sanctions to ensure that telecommunications operators comply with regulations, guidelines and directives, the Executive Vice Chairman, NCC, Prof. Umar Danbatta, has said. Danbatta, who spoke at the first Annual Conference on Combatting...

    • Posted February 6, 2016
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  • Capital Oil, Bellview Airlines, Seawolf, 217 others on AMCON’s N1.146tn debtors’ list

    In a name shame tactic that has become the norm in Nigerian financial services, the Asset Management Corporation of Nigeria (AMCON) has listed Capital Oil and Gas Industries Limited, Seawolf, the defunct Bellview Airlines, Resort International Limited,...

    • Posted February 6, 2016
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  • Shell to shed 10,000 jobs, defers FID on Bonga South West Project

    As dwindling oil prices take their toll on oil industry operations, Royal Dutch Shell has announced that it will cut its global staff strength by 10,000 in 2016. It also announced in its fourth quarter of 2015...

    • Posted February 6, 2016
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  • Nigerian Capital Market loses N1.63tn in January

    The Nigerian stock market lost more than N1.63 trillion in January due to profit-taking and currency volatility, statistics from the Nigerian Stock Exchange (NSE) showed on Thursday. The News Agency of Nigeria (NAN) reported that the drop...

    • Posted February 6, 2016
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  • Fitch: Nigeria’s oil response has downside fiscal, growth risks

    The federal government’s recent economic policy announcements show its response to the oil price shock is coalescing around state-led development to boost economic growth and import substitution to blunt the effects of declining oil receipts, Fitch Ratings...

    • Posted February 6, 2016
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  • NCS warns exporters, importers on prohibited items

    The Nigeria Customs Service (NCS) has warned exporters and importers of prohibited items to desist from doing so, warning that the long arm of the law will soon catch up with perpetrators. The Customs Area Controller (CAC),...

    • Posted February 6, 2016
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  • FG lost N2.5tn on stamp duty in 2014 – NIPOST

    The Federal Government lost over N2.5tn to the non-implementation of the Stamp Duty Act in the financial sector in 2014, the Nigerian Postal Service has said. It said this in a document on the stamp duty, which...

    • Posted February 5, 2016
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  • Nigeria’s debt rises by N1.31tn in one year

    Nigeria’s debt burden rose by N1.31tn in one year, the Debt Management Office has said. Official statistics released by the DMO in Abuja on Wednesday showed that the country’s total debt rose from N11.24tn as of December...

    • Posted February 5, 2016
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