All posts by BusinessNews Staff

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  Naira continues to depreciate at parallel market

  The Naira on Wednesday continued to depreciate against the dollar at the parallel market in spite of the sale of foreign currency to operators of Bureau de Change (BDC) It lost N1.00 to the dollar on Wednesday...

  • Posted October 7, 2015
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  NAMA trains 15 air traffic controllers on surveillance radar course

  In order to boost capacity of existing manpower in Air Traffic Management for the implementation of Performance Based Navigation (PBN), the Nigerian Airspace Management Agency (NAMA), has embarked on the training of 15 Air Traffic Controllers on...

  • Posted October 7, 2015
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  NERC explores possible sanctions against TCN over illegal account

  Following the expiration of the seven-day ultimatum given to the Transmission Company of Nigeria (TCN) by the Nigerian Electricity Regulatory Commission (NERC) to close down an illegal bank account, the regulatory agency is exploring possible sanctions against...

  • Posted October 7, 2015
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  2016 budget will encourage economic diversification – Buhari

  President Muhammadu Buhari on Monday promised that the 2016 budget being prepared by his administration would be specially designed to encourage the diversification of the nation’s economy. He said new policies and measures that would move the...

  • Posted October 7, 2015
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  NSE moves to ensure cordial brokers/ sub-brokers relationship

  The Nigerian Stock Exchange (NSE) has made moves to facilitate an agreement between dealing member firms(stockbrokers), and Sub-brokers that will foster good working relationship and enhance   smooth securities transactions in the Nigerian capital market. The NSE last...

  • Posted October 7, 2015
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  Nigerian Gas and Steel decries capital flight on importation

  Nigerian Gas and Steel (NGSL) Limited has decried the increasing capital flight on importation of steel pipes by Nigerians and restated its commitment to save the huge capital flight for the country’s economic growth. Managing Director of...

  • Posted October 7, 2015
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  Shell to add 50,000bpd to Nigeria’s oil production

  Shell Nigeria Exploration and Production Company Limited on Monday announced the commencement of production from the Bonga Phase 3 project. The Bonga Phase 3 is an expansion of the Bonga main development, with peak production expected to...

  • Posted October 7, 2015
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  CBN may ease forex controls as demand drops

  The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, says he will consider easing restrictions on currency trading if demand for foreign exchange drops further. Emefiele told delegates at a conference on Africa hosted by the Financial...

  • Posted October 7, 2015
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  Nigeria lost N757bn to others in Q1 – World Bank

  Nigeria lost about N757.44bn in transactions with other countries in the first quarter of the year, the World Bank has said. The bank said this in a report, Africa Pulse, which was released in Washington after a...

  • Posted October 7, 2015
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  Ikeja Electric to install 10,000 meters monthly

  Following the completion of the pilot scheme of the advanced meter installation phase, which began in June, the Ikeja Electric has announced plans to commence the second phase of the project, which will lead to the monthly...

  • Posted October 7, 2015
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