All posts by BusinessNews Staff

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  2016 budget: FG directs MDAs to cut costs

  Vice-President Yemi Osinbajo on Tuesday said all government Ministries, Departments and Agencies would be expected to cut costs under the 2016 budget. He said this was necessary in order to control expenditure of the Federal Government, which...

  • Posted October 8, 2015
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  Mercuria acquires 17% stake in Forte Oil for $200m

  One of Nigeria’s integrated energy solution providers, Forte Oil Plc, on Monday confirmed the acquisition of 17 per cent of its equity by Mercuria Energy Holdings SA for $200 million. With the foreign direct investment in Forte...

  • Posted October 8, 2015
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  Recapitalisation: SEC engages 15 accounting firms to verify operators

  The Securities and Exchange Commission (SEC) has enlisted the services of over 15 accounting firms to verify the sources of funds by MARKET operators that complied with the new minimum capital requirement. SEC had in  2013, announced...

  • Posted October 8, 2015
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  Oil price fall may continue till 2017 – OPEC

  The decline in global crude oil prices may not abate until 2017 as the oil market is expected to rebalance within two years, the Secretary-General of the Organisation of Petroleum Exporting Countries, Abdalla el-Badri, has said. Badri,...

  • Posted October 8, 2015
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  Access Bank, Irish firm improve ATM, e-banking channels

  Access Bank Plc has collaborated with CR2, an Ireland-based self-service banking software provider, to modernise its Automated Teller Machines, Internet and mobile banking channels. CR2, in a statement, announced that the Nigerian lender had selected BankWorld, its...

  • Posted October 8, 2015
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  London, SEC to strengthen Islamic finance in Nigeria

  The Securities and Exchange Commission and the City of London on Tuesday pledged to work together to deepen Islamic finance in Nigeria in order to bring financial inclusion to Nigerian Muslims and non-Muslims averse to traditional financial...

  • Posted October 8, 2015
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  Fixed charge reduction temporary – Power firms

  Against the backdrop of growing agitation from many quarters for the removal of electricity fixed charges, most of the electricity distribution companies in the country have proposed a temporary reduction in the charges. The Discos stated this...

  • Posted October 8, 2015
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  Why Nigerian Capital Market needs entrepreneurs – Stockbrokers

  Stockbrokers in the Nigerian Capital Market have stated that the market is in dire need of entrepreneurs to boost activities and reposition the market for global competitiveness. The stockbrokers  stressed that no capital market can thrive without...

  • Posted October 8, 2015
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  Nigeria’s PenCom emerges Africa’s best performing pension establishment

  The National Pension Commission of Nigeria (PenCom) on Wednesday emerged the best performing pension institution in the maiden edition of the Africa Pensions Awards (APA) . The Chairman of the African Pension Award Committee, Mr John Ashcroft,...

  • Posted October 7, 2015
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  Nigeria averages N1.5billion POS transactions daily – CBN

  The Central Bank of Nigeria (CBN) has said that Nigeria averages about N1.5 billion worth of transactions on the Point Of Sales (POS) terminal daily. Mr Dipo Fatokun, the Director, Banking and Payment System Department (BPSD), CBN,...

  • Posted October 7, 2015
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