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All posts by BusinessNews Staff

  • CBN says no plan to convert Domiciliary Accounts Deposit to Naira

    The Central Bank of Nigeria (CBN) on Thursday refuted the news making the rounds that it is planning to convert Nigerian bank customers’ foreign currency domiciliary account deposits (US dollars or British pounds sterling) into the naira....

    • Posted February 28, 2015
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  • Equities Market declines after 8 days of Bull Run

    The Nigerian equities market closed on a negative note yesterday after eight consecutive days of gains. The market has remained bullish since last week following the activities of bargain hunters. However, the market moderated on Thursday as...

    • Posted February 28, 2015
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  • Exporters reject CBN directive on export proceeds

    Stakeholders in the non-oil export sector have rejected the Central Bank of Nigeria’s new guidelines on the utilisation of export proceeds. The stakeholders, comprising heads of all commodity associations in the country, rejected the policy on the...

    • Posted February 28, 2015
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  • New Nigerian discoveries boost Exxon Mobil reserves

    Exxon Mobil has replaced by 104 per cent its 2014 production by adding proved oil and gas reserves totalling 1.5 billion oil-equivalent barrels, including a 162 per cent replacement ratio for crude oil and other liquids. According...

    • Posted February 28, 2015
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  • Nigeria listed among 20 Fastest Growing Economies

    A new survey released by Bloomberg has projected that Nigeria, China, the Philippines, Kenya, India and Indonesia will rank among the 20 fastest growing economies in world this year. In an accompanying chart by the New York-based...

    • Posted February 28, 2015
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  • Nigeria exported N1.49tn crude to Spain in 2014

    The Head, Economic and Commerce of the Spanish Embassy in Nigeria, Mr. Pablo Segrelles, has said that €6.5bn (N1.49tn) worth of crude oil was exported from Nigeria by his country in 2014. He said the huge volume...

    • Posted February 28, 2015
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  • FG automates revenue collection at airports

    In a bid to boost revenue generation in the aviation sector, the Federal Government on Thursday declared that it would implement the Aviation Revenue Automation Project to the letter. It said the project, which is aimed at...

    • Posted February 28, 2015
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  • Power supply dips by 360MW

    The supply of electricity to consumers across the country has fallen by 360.88 megawatts in the last one week and the Federal Government has again attributed the development to the vandalism of pipelines that transport gas to...

    • Posted February 28, 2015
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  • NAICOM fines insurance firms N543.69m

    The National Insurance Commission has collected N543.69m as fines from insurance companies for various infractions of laid down regulations and professional misconduct. The Deputy Commissioner, Finance and Administration, NAICOM, Mr. George Onekhena, who disclosed this to our...

    • Posted February 28, 2015
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  • FIRS, NIBSS, Systemspecs sensitise taxpayers on e-Filing

    As part of efforts to create awareness on the recently introduced e-filling scheme by the federal government, the Federal Inland Revenue Service (FIRS), the Nigerian Interbank Settlement System (NIBSS) and Systemspecs Limited, jointly organised a stakeholders’ forum...

    • Posted February 28, 2015
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