All posts by BusinessNews Staff

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  Senate demands NNPC, DPR, others’ audited accounts

  The Senate Committee on Gas Resources on Wednesday directed the Nigerian National Petroleum Corporation and its subsidiaries to submit to it their detailed audited accounts for the past three years. Apart from the NNPC, other agencies affected...

  • Posted January 22, 2016
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  Trafigura, Duke lifted $24bn crude without contracts – PPMC

  Investigation into the crude exchange deals of the Nigerian National Petroleum Corporation has revealed that two trading firms, Trafigura and Duke Oil, lifted $24bn worth of crude oil out of the country before formal contracts were signed....

  • Posted January 22, 2016
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  N470m lost daily to gas pipeline attacks – FG

  Last weekend’s attack on the Nigeria Gas Company’s pipeline connected to Chevron Nigeria Limited’s facility at Escravos in Delta State is costing the economy a daily loss of N470m and has also resulted in the shutdown of...

  • Posted January 22, 2016
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  FCMB anticipates lower profit for third quarter of 2015

  FCMB Group Plc on Monday sent a profit warning to the stock market community, saying earnings and profitability for the third quarter ended September 30, 2015 will be lower than the figures of same period in corresponding...

  • Posted January 21, 2016
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  DMO to raise $1.75bn from bond market in first quarter

  The Debt Management Office (DMO) is to raise between N260 billion ($1.30 billion) and N350 billion ($1.75 billion) from primary issue in the first quarter of 2016, according to its provisional issuance calendar for Q1 2016. It...

  • Posted January 21, 2016
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  Stocks decline: FG may summon stakeholders meeting

  There is a strong indication that the federal government may summon a meeting of capital market stakeholders over the consistent decline in the stock market. A combination of factors, such as political risk, currency volatility, and uncertainty...

  • Posted January 21, 2016
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  CBN unveils N300bn fund for non-oil exporters

  The Central Bank of Nigeria on Tuesday unveiled a N300bn special intervention fund to boost non-oil exports in the country. The announcement was contained in a communique issued at the end of a non-oil export conference conveyed...

  • Posted January 21, 2016
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  Nigeria loses N571bn annually to tax waivers – Report

  About $2.9bn (N571bn) is being lost annually by the Federal Government to tax incentives given to some companies operating in the oil and gas sector under the Nigerian Liquefied Natural Gas consortium. The figure was released by...

  • Posted January 21, 2016
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  Emefiele blames naira fall on US policy, importation

  The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, explained to the Senate on Tuesday that some harsh monetary decisions taken by the United States and Nigeria’s over dependence on foreign goods were responsible for the continuous...

  • Posted January 21, 2016
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  France promises visa for Nigerian business owners

  France has pledged to ease visa processes to make it possible for more Nigerian entrepreneurs to travel to the country to establish business outfits. The Consul General of the French Embassy in Lagos, Mr. Laurent Polonceaux, made...

  • Posted January 21, 2016
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