All posts by BusinessNews Staff

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  NNPC loses N255bn in one year

  The Nigerian National Petroleum Corporation recorded a total loss of N255.3bn at the close of last year, statistics from the January 2016 edition of its Energy in Brief bulletin have shown. An analysis of the data indicated...

  • Posted January 25, 2016
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  Dollar scarcity hits Nigerian banks

  Bank customers are now unable to withdraw dollars from their domiciliary accounts amid worsened scarcity of the currency in the financial services sector, Saturday PUNCH investigation has revealed. With the situation, business persons and individuals are complaining...

  • Posted January 24, 2016
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  BDC operators import dollars from Ghana, Benin Rep, others

  There are indications that Bureau De Change operators in Nigeria have been importing dollars from neighbouring Ghana, Benin Republic and others to make up for the scarcity of the currency in the country. According to Saturday PUNCH...

  • Posted January 24, 2016
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  Nigerians’ investment in NSE down by N256.07bn

  The stake of indigenous investors in the Nigerian Stock Exchange dropped by N256.07bn over the last 12 months, according to recent data released by the Exchange. The NSE’s total domestic transactions was said to have decreased by...

  • Posted January 24, 2016
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  Domestic debt servicing gulped N2.95tn in five years

  The Federal Government spent a total of N2.95tn to service domestic debts for a period of five years from 2010 to 2014, investigation has shown. Statistics obtained from the Debt Management Office in Abuja on Thursday showed...

  • Posted January 23, 2016
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  Market gains N121bn despite losses by 14 firms

  The value of equities in the Nigerian Stock Exchange appreciated by N121bn on Thursday in a second-day gain after straight losses for 10 days. This feat was realised despite the fall in the share prices of 14...

  • Posted January 23, 2016
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  Fuel subsidy removal will save government N985bn – Osinbajo

  Vice President Yemi Osinbajo has said the Federal Government, which relies on crude oil for about two-thirds of its revenue, is seeing a silver lining to the plunge in crude prices because it will no longer have...

  • Posted January 23, 2016
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  FG sells N195bn treasury bills at higher rate

  The country sold N195.95bn ($975m) in Treasury bills with maturities from three months to one year in its second auction of the year on Wednesday, at higher yields than previously, the Central Bank of Nigeria said on...

  • Posted January 23, 2016
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  Oil firm to sack 700 workers

  The Shoreline Group, a Nigerian oil producer, has halted plans to issue $500m worth of Eurobonds and will sack 700 of its employees amid the sustained drop in global oil prices, the Chief Executive Officer of the...

  • Posted January 23, 2016
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  Stock market rebounds after 10-day loss

  Trading on the floor of the Nigerian Stock Exchange on Wednesday closed on a positive note after recording losses for 10 straight days. Shares appreciation in 39 companies pushed up the NSE market capitalisation to N8.025tn from...

  • Posted January 22, 2016
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