All posts by BusinessNews Staff

• 
  CBN suspends directive on oil sector loans

  A new rule meant to assist banks to manage their loan risks in the oil and gas sector in the face of the falling oil prices has been suspended by the Central Bank of Nigeria. The suspension...

  • Posted January 13, 2015
  • 0
• 
  10 stockbroking firms traded N1.7trillion shares in 2014

  Ten stock-broking firms accounted for N1.791 trillion worth of equities traded on the Nigerian stock market in 2014, data obtained from  the Nigerian Stock Exchange (NSE) have shown. Although the overall market performance will be made public...

  • Posted January 13, 2015
  • 0
• FG faces N1.9tn funding gap in 2015 budget

  The Federal Government faces about N1.935tn funding gap in the N4.3tn budget proposed for the 2015 fiscal year, a new report has found. This represents a 45 per cent shortfall in the budget revenue. The 2015 Synopsis...

  • Posted January 13, 2015
  • 0
• 
  Foundation receives 3,000 applications from business owners

  The Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, has said that the organisation has so far received over 3,000 applications from entrepreneurs for its recently inaugurated $100m fund. The fund was set up last year...

  • Posted January 13, 2015
  • 0
• 
  Why NCS missed N1.2tn revenue target in 2014

  Fresh facts have emerged as to why the Nigeria Customs Service (NCS) could not meet its revenue target of N1.2 trillion in 2014. The federal government had in 2013, through a memo issued by the Federal Ministry...

  • Posted January 13, 2015
  • 0
• 
  Analysts predict higher inflation figures for December

  Analysts at the FSDH Group have estimated that the December 2014 consumer price index (CPI), which is used to gauge the level of inflation in the country, will rise to 8.4 per cent. Inflation rate for November...

  • Posted January 13, 2015
  • 0
• 
  New Managing Director appointed for Shell Nigeria

  A new Managing Director has been appointed for Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and Royal Dutch Shell.   He is Osagie Okunbor,...

  • Posted January 13, 2015
  • 0
• 
  CBN defers implementation of policy on oil sector risk mitigation

  The Central Bank of Nigeria (CBN) has postponed an earlier directive that deposit money banks should strengthen their capital buffers in order to mitigate shocks as a result of their exposure to the oil sector. The latest...

  • Posted January 13, 2015
  • 0
• 
  Experts see opportunities in Lagos land cost reduction

  In a move aimed at reducing the cost of land acquisition and ease the process of land documentation, the Lagos State Government last week reviewed the charges on land transactions, but the development has not been entirely...

  • Posted January 13, 2015
  • 0
• 
  South-South highest kerosene consumer — NNPC

  The South-South geopolitical zone is the highest consumer of kerosene in the country with a monthly consumption of 10.17 million litres. This figure, which was obtained on Friday from the Nigerian National Petroleum Corporation’s monthly petroleum industry...

  • Posted January 12, 2015
  • 0