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All posts by BusinessNews Staff

  • Emefiele vows to sustain Forex policy on 41 items, recover unpaid duties on rice imports

    Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has declared that there is no going back on the central bank’s recent policy shutting out 41 imported items from the foreign exchange (forex) window, even...

    • Posted July 30, 2015
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  • TCN records new power transmission peak of 4662MW again

    The Transmission Company of Nigeria (TCN) on Wednesday disclosed that the national electricity grid transmission has attained a new peak capacity of 4,662 megawatts (MW), some 6MW different from its last record of 4656MW. TCN, in a...

    • Posted July 30, 2015
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  • Market integration: United Capital, CB complete first trade

    The West African Capital Markets Integration Council says United Capital Securities and CAL Brokers have successfully completed the first direct trade between two West African countries under the phase one of its markets integration programme. The trade...

    • Posted July 30, 2015
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  • Nigeria, UK target greater capital flows

    The Nigeria-United Kingdom Capital Markets Project on Tuesday stepped up efforts to enhance capital flows into the Nigeria capital market by launching a report aimed at encouraging the long-term development of the market. The report, ‘Nigerian capital...

    • Posted July 30, 2015
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  • NSE index continues slide

    The Nigerian Stock Exchange All-Share Index declined further on Tuesday, shedding 192.76 basis points or 0.63 per cent to close at 30.614.81 basis points as stocks continued to fall. The ASI had dipped by 0.91 per cent...

    • Posted July 30, 2015
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  • Customs seal Stallion, Olam over rice import debt

    Operatives of the Nigeria Customs Service on Tuesday sealed the premises of Stallion Group’s Popular Foods and Masco Agro, and Olam in a bid to recover over N23.6bn allegedly owed the government by four rice importers. Other...

    • Posted July 30, 2015
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  • 11 companies may make NSE’s $1billion premium board

    In a bid to enhance its plans to make  the Nigerian Stock Exchange (NSE) a $1 trillion market, authorities at the exchange have concluded arrangements to float a new board to be called Premium Board. The NSE...

    • Posted July 30, 2015
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  • Presco lauds CBN’s forex restriction on importation

    Presco Plc has commended the Central Bank of Nigeria (CBN’s) policy to ban foreign exchange sales to certain segments of the economy, noting that this move by the apex bank will help save its hard-earned and scare...

    • Posted July 29, 2015
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  • Widening gap in interbank, parallel forex markets spurs round-tripping

    As the Central Bank of Nigeria’s (CBN) earnings-constraining regulations as well as its tight monetary policies continue to eat deeply into commercial banks’ profitability, the yawning gap between the interbank and the parallel market forex rates has...

    • Posted July 29, 2015
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  • NAICOM releases guidelines for market conduct, business practices by insurance companies

    The National Insurance Commission (NAICOM) on Tuesday released guidelines for Market Conduct and Business Practice for all Insurance institutions in the country. The Commissioner for Insurance (CFI) Mr Fola Daniels, represented by the Director of Authorisation and...

    • Posted July 29, 2015
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