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  • FirstBank leads in Forex allocation as CBN sells $143m to banks

    The Central Bank of Nigeria (CBN) sold $142,646,892.01 to 15 commercial banks and three merchant banks last week, as it sought to meet the huge demand for foreign exchange (forex) in the economy. The amount was higher...

    • Posted May 24, 2016
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  • FG’s economic policies pushing Nigeria into recession – Analysts warn

    The dismal gross domestic products (GDP) and job reports, besides the current high inflation levels (13.7 per cent) clearly show that the government’s economic policies are not effective and require an urgent review to avoid further plunge...

    • Posted May 24, 2016
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  • Nigeria faces recession as GDP shrinks

    Nigeria’s economy risks falling into recession after it shrank in the first quarter of 2016 as outputs in the manufacturing, financial, real estate, oil and gas fell significantly. The nation’s Gross Domestic Product, which measures the output...

    • Posted May 22, 2016
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  • NIMASA unveils 3-year development plan

    The  Nigerian Maritime Administration and Safety Agency (NIMASA) has put in place, a three -year development plan from 2016 to 2019, termed ‘Medium Term Maritime Growth Strategy’ to guide its efforts in reshaping the sector. The Director-General...

    • Posted May 22, 2016
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  • CBN disburses N55bn to 24 power firms as FG seeks improved supply

    As part of efforts to address the worsening power situation in the country, the Central Bank of Nigeria (CBN) yesterday disbursed a total of N55,456,161,481 from its Nigerian Electricity Market Stabilisation Facility (NEMSF) to firms in the...

    • Posted May 22, 2016
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  • FG to set deadline for NNPC, refineries’ privatisation

    The Federal Government has said it will set a time frame for the privatisation of the Nigerian National Petroleum Corporation and the refineries before the end of this year. As part of the deregulation of the downstream...

    • Posted May 21, 2016
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  • Full deregulation will soon happen – Oil marketers

    Just as they predicted two weeks ago that the Federal Government would raise the pump price of Premium Motor Spirit, which eventually happened, oil marketers have stated that the country may be heading for a total deregulation...

    • Posted May 21, 2016
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  • Let market forces determine petrol prices – NACCIMA

    The Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture has urged the Federal Government to allow market forces to determine the prices of Premium Motor Spirit, otherwise known as petrol. The association made this known...

    • Posted May 21, 2016
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  • NASCON pays N1.46bn dividend, to invest in product lines

    Shareholders of NASCON Allied Industries Plc on Thursday approved a dividend of N1.46 billion for the year ended December 31, 2015, which translates to 55 kobo per share. In his address to shareholders at the annual general...

    • Posted May 21, 2016
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  • Lagos remits N64bn into workers’ RSA in nine years

    The Lagos State Government on Thursday disclosed that it had remitted a sum of N64 billion into the retirement saving accounts (RSAs) of civil servants as contributory pension scheme since the inception of the scheme. The Commissioner for...

    • Posted May 21, 2016
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  • Banks, others move to reduce non-performing loans

    Risk managers in the Deposit Money Banks and other key stakeholders have moved to cut down on the amount of non-performing loans in the banking sector. The move followed astronomical rise in the NPLs in the banking...

    • Posted May 20, 2016
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  • SON creates digital certificate for imported products

    A digital certificate has been created for the processing of Standards Organisation of Nigeria’s regulated products being imported into the country. Rather than attaching photocopies of SON certificates, importers are now only required to input the certificate...

    • Posted May 20, 2016
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  • Jet-A1 scarcity: Airlines resume normal flight operations

    Normalcy returned to the aviation sector on Wednesday as airlines, which had their operations disrupted over the past few days due to the scarcity of aviation fuel, resumed scheduled flight operations. In Lagos, passengers who booked for...

    • Posted May 20, 2016
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  • NSIA rules out direct investment in Nigerian Stock Market

    The Managing Director/Chief Executive Officer of Nigerian Sovereign Investment Authority (NSIA), Mr. Uche Orji has ruled out direct investment in the equities market for now. Speaking to journalists during a visit to the Nigerian Stock Exchange (NSE)...

    • Posted May 20, 2016
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