All posts by BusinessNews Staff

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  RDAS closure will cause 20% increase in production cost – LCCI

  The Lagos Chamber of Commerce and Industry (LCCI) has said the decision of the Central Bank of Nigeria (`1) to close the Retail Dutch Auction System (RDAS) will lead to about 20 per cent increase in the...

  • Posted February 25, 2015
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  Senate reduces oil benchmark to $52

  The Senate on Tuesday, reduced the oil benchmark from 65 dollars to 52 dollars. The News Agency of Nigeria (NAN) reports that this is the outcome of a closed-door meeting of the Senate in Abuja on Tuesday....

  • Posted February 24, 2015
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  CBN, SEC to collaborate for stronger financial sector regulation

  The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have agreed to collaborate more for stronger  regulation of the  capital market in particular  and the Nigerian financial system in general. The acting Director...

  • Posted February 24, 2015
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  Nigeria’s GDP drops by 5.94% in fourth quarter

  Nigeria’s real Gross Domestic Product (GDP) further dropped to 5.94 per cent in the fourth quarter (Q4) of 2014 compared to 6.23 per cent in the third quarter, according to the  National Bureau of Statistics (NBS). The...

  • Posted February 24, 2015
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  More pressure on naira as market loses $800m

  The removal of about $800m from the foreign exchange market following the closure of the Retail Dutch Auction System and Wholesale Dutch Auction System window by the Central Bank of Nigeria will put further pressure on the...

  • Posted February 24, 2015
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  Skye Bank supports oil firm to boost local content

  As part of its effort to boost local content in the nation’s oil and gas industry, Skye Bank Plc has increased the capability of one of its corporate customers, Marine Platforms Limited, by funding the acquisition of...

  • Posted February 24, 2015
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  Guinness repositions, appoints new Finance Director

  In a move seen by market operators as aimed at repositioning the company financially, Guinness Nigeria Plc has replaced its finance and strategy director. The company announced the appointment of Mr. Ronald Plumridge as the new director ...

  • Posted February 24, 2015
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  Provide N200bn loan to investors – LCCI urges CBN

  The Lagos Chamber of Commerce and Industry says the closure of the foreign exchange window, the Retail and Wholesale Dutch Auction systems, by the Central Bank of Nigeria will compound the challenges facing the real sector. It...

  • Posted February 24, 2015
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  Profit-taking may dominate market this week – Experts

  The gains recorded in the stock market last week is likely to result in profit-taking activities this week, capital market analysts have said. Following a week in which the Nigerian Stock Exchange All-Share Index fell by eight...

  • Posted February 24, 2015
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• CBN warns exporters against misusing earnings

  The Central Bank of Nigeria says any exporter that uses export proceeds for non-eligible transactions will be barred from the foreign exchange market. In a circular on its website on Sunday, the CBN’s Director, Trade and Exchange...

  • Posted February 24, 2015
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