All posts by BusinessNews Staff

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  NSE Index rises 1.37% as equities remain attractive

  The Nigerian equities market maintained a positive trend yesterday with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciating by 1.37 per cent to close at 34,583.29, from 34,115.84 the previous day. Similarly, the market capitalisation added...

  • Posted November 28, 2014
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  Deputy CBN Governor says naira not devalued

  The newly appointed Deputy Governor of Central Bank of Nigeria, Dr. Joseph Nnana, on Wednesday said that the apex bank had not devalued the naira. Rather, he said the CBN merely announced the exchange rate in compliance...

  • Posted November 28, 2014
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  Banks can withstand impact of oil price decline – NDIC

  The Managing Director of the Nigeria deposit insurance corporation (NDIC) Alhaji Umaru Ibrahim has disclosed that Nigerian banks can survive the impact of the current falling price on the economy. Ibrahim also said with the federal government’s...

  • Posted November 28, 2014
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  Nigeria’s oil fortunes face terrorism threat – Dangote

  Africa’s richest man and founder, Dangote Group, Aliko Dangote, has raised the alarm over rising threats to Nigeria’s oil and gas fortunes owing to the rising spate of terrorism in the country. He said the windows of...

  • Posted November 28, 2014
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  NLNG’s subsidy on cooking gas hits $50m

  The Nigeria Liquefied Natural Gas Limited has subsidised Liquefied Petroleum Gas (cooking gas) to the tune of $50m since the commencement of its intervention scheme on the product nationally. The firm, which currently supplies some 80 per...

  • Posted November 28, 2014
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  Reps committee wants Shell to pay $3.6bn damages

  The House of Representatives Committee on Environment on Wednesday recommended that Shell Nigeria Exploration and Production Company should pay $3.6bn (about N604.8bn) as damages for losses incurred by coastal communities in Bayelsa State during the 2011 Bonga...

  • Posted November 28, 2014
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  Devaluation: Banks face losses on borrowed funds

  Deposit Money Banks that have obtained foreign loans running into hundreds of millions of dollars face record losses on the loans following the devaluation of the naira by the Central Bank of Nigeria on Tuesday. According to...

  • Posted November 28, 2014
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  AMCON completes sale of Enterprise Bank to Heritage Bank

  The Asset Management Corporation of Nigeria (AMCON) yesterday announced the successful completion of the sale of the entire issued and fully paid up ordinary shares of Enterprise Bank Limited to HBCL Investment Services Limited (HISL) for a...

  • Posted November 28, 2014
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  NSE CEO elected President of African Securities Exchanges Association

  The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema, has been elected President of African Securities Exchanges Association (ASEA). This decision was reached at the Executive Committee meeting of ASEA after its...

  • Posted November 27, 2014
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  World Bank controls 62% of Nigeria’s public external debt

  Data released by the Debt Management Office (DMO) has revealed that the World Bank Group controls a total of 62 per cent of Nigeria’s public external debt at end-September this year. Analysis of the data also revealed...

  • Posted November 27, 2014
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