All posts by BusinessNews Staff

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  CBN reviews dealers’ Forex position to 0.1%

  The Central Bank of Nigeria (CBN) on Monday reviewed upward the daily foreign currency trading positions of banks from zero per cent to 0.1 per cent. In addition, banks are now required to utilise funds purchased from...

  • Posted January 14, 2015
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  CBN should adjust naira value quarterly – Chike-Obi

  The Central Bank of Nigeria needs to adjust the value of the naira every quarter in order to mitigate the effect of inflation that can, among other things, make goods manufactured within the country not competitive. The...

  • Posted January 14, 2015
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  Equities Market records first gain in 2015

  The Nigerian equities market on Monday recorded its first gain of the year after  shedding  13 per cent last week.  The market had recorded persistent decline in the first trading week of the year, leading to a...

  • Posted January 14, 2015
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  Increased political spending, others threaten price stability

  The threats from increased political spending and growth in money supply have been identified as some factors that are underlining threats to the consumer price index (CPI) in Nigeria. Other factors that have continued to threaten inflationary...

  • Posted January 14, 2015
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  Budget: Senate may propose $40 oil benchmark

  Strong indications emerged on Monday that the Senate would propose that the oil benchmark for the 2015 budget be reduced to $40 per barrel in line with the reality of falling crude prices in the international market....

  • Posted January 14, 2015
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  Gas producers, power firms disagree over supply terms

  Private investors who took over the electricity generation companies unbundled from the Power Holding Company of Nigeria are in disagreement with gas producers over supply terms. The gas producers, it was learnt, had asked the power firms...

  • Posted January 14, 2015
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  Gwarzo replaces Oteh as acting SEC DG

  The Securities and Exchange Commission on Monday announced that the Executive Commissioner, Operations, Mr. MounirGwarzo, had taken over the affairs of the commission as the acting Director General. Gwarzo takes over the leadership of the commission from...

  • Posted January 14, 2015
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  FG puts monitoring gadgets on gas pipelines

  The Federal Government on Monday said it had commenced the installation of electronic monitoring equipment on pipelines that supply gas to power generation plants following their repeated rupturing by vandals. According to the government, the gains recorded...

  • Posted January 14, 2015
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  Gas tanker runs aground off Nigerian coast

  A Liquefied Natural Gas (LNG) tanker has run aground off Nigerian coast after taking on a cargo at the Bonny Island export plant, two trading sources said. The 165,000-cubic-metre-capacity Magellan Spirit tanker, owned by Teekay LNG Partners,...

  • Posted January 14, 2015
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  Fuel importation will end in 2018 – Aganga

  The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said that the Federal Government plans to ensure that the country stops the importation of petroleum products by 2018. He said this during an interview on...

  • Posted January 13, 2015
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