All posts by BusinessNews Staff

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  Naira rebounds on parallel market after CBN dollar sale

  The naira firmed against the dollar on the parallel market on Wednesday following central bank sales of about $80 million to bureau de change operators, traders said. The local currency was trading at N215 to the dollar...

  • Posted August 7, 2015
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  Blame successive governments for NNPC inefficiency – Ogbeifun

  A former President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Dr. Louis Ogbeifun, said successive governments should be blamed for the inability of the Nigerian National Petroleum Corporation to deliver value as done...

  • Posted August 7, 2015
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  Buhari orders take over of Nigeria’s airspace over Gulf of Guinea from Ghana

  President Muhammadu Buhari has ordered the takeover of the security of the nation’s airspace over the Gulf of Guinea from Ghana, even as he directed the Ministry of Aviation to expedite action on the setting up of...

  • Posted August 7, 2015
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  NCC gives Telcos ultimatum to deactivate pre-registered SIM cards

  The Nigerian Communications Commission (NCC), the telecoms industry regulator, has asked all telecommunications operators (Telcos) and other network providers to deactivate pre-registered SIM cards on their networks, within the next seven days or face sanctions. The ultimatum,...

  • Posted August 7, 2015
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  Equities value rises by N324bn as rally deepens

  The market capitalisation of equities listed on the Nigerian Stock Exchange surged by N324bn or 3.1 per cent to close at N10.763tn on Wednesday, boosted by increased demand for stocks. The NSE All-Share Index also rose by...

  • Posted August 7, 2015
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  CBN, MTN in talks over $600m debt repayment

  MTN Group Limited is in talks with the Central Bank of Nigeria about the early repayment of almost $600m of debt to reduce exposure to the naira, which has weakened against the rand this year. “We have...

  • Posted August 7, 2015
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  Wapic Insurance recorded N4bn premium in Q2

  The naira firmed against the dollar at the parallel market on Wednesday following the Central Bank of Nigeria’s sales of about $80m to bureau de change operators, traders said. Specifically, the naira rose to 219 to the...

  • Posted August 7, 2015
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  158 investors to get N42.2m from protection fund

  The Board of Trustees of the Investors’ Protection Fund of the Nigerian Stock Exchange on Wednesday said that it would compensate 158 claimants for “pecuniary losses suffered by them as a result of wrongdoing by certain dealing...

  • Posted August 7, 2015
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  Customs rakes in N5.8billion in four months

  With the assumption of office of a new Controller for the Nigeria Customs Service, Oyo/Osun Area Command, Muhammed Suleman Bawa in March this year, the command said it generated more than N5.8 billion between the period and...

  • Posted August 7, 2015
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  Nigeria’s financial penetration rate still low – IMF

  The International Monetary Fund (IMF) has said the rate of financial penetration in Nigeria was still low compared with her peers. The multilateral institution noted that recent surveys indicated that although Nigeria’s financial penetration rate was improving,...

  • Posted August 6, 2015
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