All posts by BusinessNews Staff

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  FirstBank names Patrick Iyamabo as new Chief Financial Officer

  First Bank of Nigeria Limited, Nigeria’s most valuable banking brand and foremost financial institution, Tuesday announced the appointment of Mr. Patrick Iyamabo as its new Chief Financial Officer (CFO). The appointment follows the elevation of the former...

  • Posted August 24, 2016
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  Oil falls below $50 on Nigeria, Iraq supply boost

  International oil benchmark, Brent crude, retreated on Monday, falling below the $50 per barrel mark on worries about growing Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising US oil rig count. China’s July...

  • Posted August 24, 2016
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  Osinbajo seeks continental cooperation to improve economies

  Vice-President Yemi Osinbajo on Monday urged African nations to work together, especially in developing their economies for the benefit of their people. This, he said, should come before other forms of international cooperation. According to a statement...

  • Posted August 24, 2016
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  TCN shops for N2.3tn to transit 10,000MW electricity

  The Transmission Company of Nigeria says it will require $7.5bn (about N2.3tn) to wheel 10,000 megawatts of electricity, which is the target of the Federal Government by 2019. It also declared that power distribution companies were still...

  • Posted August 24, 2016
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  NSE gains N54bn at week open

  The Nigerian Stock Exchange market capitalisation advanced by N54bn to close at N9.552tn from N9.496tn at the close of trading on the Exchange’s floor on Monday. The market opened the week in gains rising by 0.60 per...

  • Posted August 24, 2016
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  Nigeria loses 3,000MW of electricity to Forcados attack

  The Minister of Power, Works and Housing, Mr. Babatunde Fashola has stated that the country is losing about 2,000 megawatts of electricity to the attack on the Forcados subsea pipeline by Niger Delta militants. Fashola has also...

  • Posted August 24, 2016
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  CBN reads riot act on utilisation of ‘free funds’

  The Central Bank of Nigeria (CBN) monday stated that it noticed that some authorised dealers in the FX market have continued to buy and sell FX referred to as “free funds” despite the provision of an earlier...

  • Posted August 24, 2016
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  NNPC to focus on redevelopment of abandoned oil fields

  The Nigerian National Petroleum Corporation (NNPC) has said that it will redevelop abandoned oil fields as part of the efforts to ramp up the country’s production and shore up federal government’s revenue. NNPC also requires an average...

  • Posted August 24, 2016
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  Banks paid N33.8tn in seven months – NBS

  A total of 463.1 million financial transactions worth N33.87trn were settled by the banking sector between January and July this year, figures released by the National Bureau of Statistics have revealed. The NBS stated this in a...

  • Posted August 23, 2016
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  PenCom, African regulators partner to improve pension benefits

  The Director-General, National Pension Commission, Mrs. Chinelo Anhohu-Amazu, has said the commission is collaborating with other African countries to increase the benefits of pensions. She said this during a press conference on the third edition of the...

  • Posted August 23, 2016
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