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All posts by BusinessNews Staff

  • DMO restructures N576bn bank loans of 23 States into FGN Bonds

    As part of efforts by the federal government to save states from their financial crises, the Debt Management Office ( DMO) has restructured the N575.516 billion bank loans owed by  23 states into Federal Government of Nigeria...

    • Posted November 5, 2015
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  • New lifting terms will abolish hawking of crude oil – NNPC

    The Nigerian National Petroleum Corporation (NNPC) has said that the new measures it put in place to select  new off-takers of Nigeria’s crude oil grades will eliminate ‘hawking’ of Nigeria’s crude oil at the international markets. The...

    • Posted November 4, 2015
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  • NSE sanctions Oando for delayed filing of financial results

    The Nigerian Stock Exchange (NSE) has sanctioned Oando Plc for delayed filing of its audited financial statements (AFS) for the year ended Dec. 31, 2014. This is contained in a statement by the exchange on Tuesday in...

    • Posted November 4, 2015
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  • Oil price crash compels Nigeria, others to revise fiscal terms

    A new report by Wood Mackenzie has stated that the slump in the price of crude oil has accelerated the need for Nigeria and other sub-Saharan African countries to carry out a review of fiscal terms, as...

    • Posted November 4, 2015
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  • Nigerian Breweries raises N17.7billion via Commercial Paper

    Nigerian Breweries Plc has successfully raised N17.7 billion  under its three-year N100 billion Commercial Paper (CP) programme.  The N17.7 billion has a yield of  12.50 per cent per annum. According to the company, the offer, which closed...

    • Posted November 4, 2015
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  • MTN bond yields soar to record as shares fall to 3-year low

    MTN Group Limited’s dollar bonds plunged for a third day, driving yields to record highs, as shares in Africa’s largest mobile phone operator extended a decline to a three-year low amid a lack of clarity over a...

    • Posted November 4, 2015
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  • Chevron, ExxonMobil cut costs, jobs amid plunging revenues

    Chevron Corporation at the weekend joined other international oil companies (IOCs) planning to cut jobs to stay ahead of the plunging revenues caused by the slump in crude oil prices as the company said it would cut...

    • Posted November 4, 2015
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  • No change in Standard Bank’s support for Stanbic IBTC over FRCN sanction – Fitch

    Fitch Ratings believes that the recent alleged irregularities raised by the Financial Reporting Council (FRC) into Stanbic IBTC Holdings Plc’s  financial reporting for 2013 and 2014, have not affected the propensity of its South African majority shareholder...

    • Posted November 4, 2015
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  • Nigerian Mobile Internet users hit 97m mark

    The number of mobile internet users on Nigeria’s telecoms networks has hit 97.21 million up from the 95.37 million recorded in August this year, according to figures released by the Nigerian Communications Commission (NCC). The telecoms regulatory...

    • Posted November 3, 2015
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  • 3.5million evading tax in Lagos

    The Lagos State Government on Sunday said about 3.5 million of its residents were currently guilty of tax evasion, which it said, absolutely violated the country’s 1999 Constitution and other extant legal instruments. The government added that...

    • Posted November 3, 2015
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