All posts by BusinessNews Staff

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  Central Bank’s intervention at Interbank bolsters naira

  The naira appreciated by N2.85 against the United States dollar at the interbank arm of the forex market to close at N186.30 to a dollar on Wednesday, compared with the N189.15 to a dollar it was on...

  • Posted February 6, 2015
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  House of the Week: A beautiful 8-bedroom house in Maitama

  Our featured property of the week is an 8 bedroom house for sale at Maitama, Abuja. This property features 8 bedrooms, 8 bathrooms, 2 dining areas, 2 lounges, 2-room BQ and a 2-bedroom guest chalet. The entire...

  • Posted February 6, 2015
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  SEC explains Market Trade Groups empowerment

  The acting Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo  has said empowering trade groups in the Nigerian capital market would enable  the commission focus  on its primary responsibilities of regulating and developing the...

  • Posted February 6, 2015
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  Telephone subscribers base hits 136 million – NCC

  The telephone subscriber base leaped from less than 500,000 in 2000 to over 136 million fixed and mobile lines by November 2014, the Nigerian Communication Commission said on Wednesday. The Director, Policy Competition and Economic Analysis, NCC,...

  • Posted February 6, 2015
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  NSE capitalisation climbs to N10.2tn as bull run persists

  The market capitalisation of the Nigerian Stock Exchange (NSE) climbed to N10.198 trillion on Wednesday on bargain hunting by investors, which has been on for three consecutive days. Having dipped by 14 per cent in the first...

  • Posted February 6, 2015
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  NNPC puts Nigeria’s current crude oil losses through vandalism at 60,000b/d

  The Nigerian National Petroleum Corporation (NNPC) on Wednesday estimated that Nigeria currently loses about 60,000 barrels of crude oil and condensate per day through petroleum pipeline vandalism and sabotage. The NNPC also said the current crude oil...

  • Posted February 6, 2015
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  Naira devaluation likely if oil hits $39 – Report

  A further devaluation of the naira is very likely if the price of oil in the international market drops below $40 per barrel, a new report has stated. The development may also force the Central Bank of...

  • Posted February 6, 2015
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  Niger Republic’s dam threatens Kainji, Jebba power plants

  Two of Nigeria’s major hydroelectric power plants that draw water from the River Niger face the threat of reduced water volume as the plan by Niger Republic to dam the upstream section of the river continues to...

  • Posted February 6, 2015
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  Power sector records N7.2bn losses in six months

  Nigeria’s power sector with an Aggregate Technical, Commercial and Collection losses put at over eight per cent, could have lost over N7.2bn from August 2014 to January this year, given a monthly ATC and C loss of...

  • Posted February 6, 2015
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  FG set to inject N250billion into FMBN

  The Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Ya’ Kumo, has said the federal  government has concluded all necessary arrangements to recapitalise the apex mortgage bank to the tune of N250 billion. While...

  • Posted February 6, 2015
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