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All posts by BusinessNews Staff

  • Banks financed 80% of oil asset acquisitions – Report

    Nigerian banks financed over 80 per cent of the acquisition of oil and gas assets that were concluded in the past five years, a new report by Ecobank has revealed. The oil sector, according to the report,...

    • Posted February 22, 2015
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  • SME operators groan as naira devaluation bites harder

    Operators of small and medium scale enterprises (SMEs) in Abuja have said the devaluation of the naira by the Central Bank of Nigeria was affecting their businesses negatively. The operators stated this when Wuse Market Shop Operators...

    • Posted February 21, 2015
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  • NCAA to introduce aircraft tracking for domestic carriers

    The Nigerian Civil Aviation Authority (NCAA) will soon make it compulsory for every airline operating in Nigeria to install in its fleet tracking equipment that will capture the movement of the aircraft and relay it to the...

    • Posted February 21, 2015
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  • Subsidy on petrol hits N1.2bn in two days

    With the gradual appreciation of prices of crude oil in the international market, the subsidy on petrol that the Federal Government will pay has been rising after it slashed the price of the product by N10 per...

    • Posted February 21, 2015
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  • Naira hits N215 to dollar, N332 to pound at Bureau De Change

    The Naira on Friday depreciated by N5 to the dollar as it traded N215 at the Bureau De Change (BDCs) segment of the official market. It also depreciated by N7 at the black market, selling at N217...

    • Posted February 21, 2015
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  • CBN’s new Forex policy to improve market liquidity

    The closure of the bi-weekly sale of forex through the Retail Dutch Auction System (RDAS) by the Central Bank of Nigeria (CBN) will significantly boost market liquidity and also lead to a decline in the currency pressure...

    • Posted February 21, 2015
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  • DMO sells N142.43bn Treasury Bills

    The yield on Nigeria’s one-year treasury bills rose at an auction where a total N142.43 billion was raised, the Debt Management Office (DMO) said on Thursday, in a bid to attract investors to the longer maturity. The...

    • Posted February 21, 2015
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  • NERC issues licences for 590MW power plants

    The Nigerian Electricity Regulatory Commission has issued two on-grid licences to KVK Power Nigeria PVT Limited and Aluminium Smelter Company of Nigeria Plc to generate electricity from solar and gas respectively. According to the commission, both companies...

    • Posted February 21, 2015
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  • FAAN to publish list of debtors

    The Federal Airports Authority of Nigeria has said that it will publish the list of people and organisations indebted to it across the airports in the country. The organisation said that it was being forced to take...

    • Posted February 21, 2015
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  • CBN says exporters must repatriate earnings

    The Central Bank of Nigeria has said exporters who fail to repatriate their earnings into their domiciliary accounts within the stipulated period will be barred from the foreign exchange market. In a circular issued on Thursday by...

    • Posted February 21, 2015
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