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All posts by BusinessNews Staff

  • NCC shuts four telecoms firms

    Four telecommunications companies were on Wednesday closed down by the Nigerian Communications Commission for engaging in illegal operations. The Compliance and Enforcement team of the NCC, led by an Assistant Director, Mr. Salisu Abdu, carried out the...

    • Posted December 12, 2014
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  • NSE index dips further after broad sell-off

    A broad sell-off on Wednesday caused the Nigerian Stock Exchange to close lower for the third straight day this week. There was no respite for the NSE All Share Index as it fell significantly by 728.79 basis...

    • Posted December 12, 2014
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  • FCMB launches personal Business Account

    First City Monument Bank Limited (FCMB) has introduced the Personal Business Account to support traders in the country. The bank unveiled the product in an event held at the Alade market, Ikeja, Lagos on Wednesday. In his...

    • Posted December 12, 2014
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  • Greenoaks completes acquisition of 92.8% stake in Union Assurance

    The board of Greenoaks Global Holdings Limited has announced that it has completed the acquisition of a 92.8 per cent stake in Union Assurance Company Plc, a former associate company of Union Bank Plc. Greenoaks Global Holdings...

    • Posted December 12, 2014
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  • CBN’s intervention boosts inter-bank liquidity

    The overnight lending rate of the interbank market fell to 50 per cent yesterday from a record high of 70 per cent on Monday after the Central Bank of Nigeria (CBN) refunded naira to dealers who participated...

    • Posted December 11, 2014
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  • Nigeria’s growth to slow in 2015 – Okonjo-Iweala

    As Nigeria adjusts to falling crude prices, growth could slow by about a percentage point next year, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said. Africa’s most populous nation is...

    • Posted December 11, 2014
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  • Bank charges discouraging use of ATMs – NISER

    The Nigeria Institute of Social and Economic Research on Tuesday called on the Central Bank of Nigeria to discourage all unnecessary charges by Deposit Money Banks for the use of Automated Teller Machines and Point of Sales...

    • Posted December 11, 2014
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  • NNPC blames fuel queues in Lagos on road construction, gridlock

    The Nigerian National Petroleum Corporation (NNPC) and its downstream subsidiary, the Pipelines and Products Marketing Company (PPMC), last night blamed the sudden fuel queues experienced in filling stations in Lagos to the ongoing construction of Apapa road...

    • Posted December 11, 2014
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  • NSE index plunges to 32,075.71 as bear run persists

    The Nigerian Stock Exchange (NSE) declined by 0.43 per cent to 32, 932.41 from 33,075.71 the previous day as the Nigerian equities market continued  itsdownward  slide. Similarly, market capitalisation shed N47 billion to close at N10.872 trillion....

    • Posted December 11, 2014
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  • Petrol shortage hits Lagos as supply drops

    Petrol supply in Lagos worsened on Tuesday as long queues of vehicles resurfaced in a number of filling stations, disrupting the free flow of traffic on some roads. Indication also emerged that loading activities at the Lagos...

    • Posted December 11, 2014
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