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  • NNPC to hold first IPO by 2018 – Kachikwu

    The federal government is planning to hold its first initial public offering (IPO) of assets owned by the Nigerian National Petroleum Corporation (NNPC) in 2018, the Minister of State for Petroleum Resources, Mr. Emmanuel Kachikwu, has said....

    • Posted January 14, 2016
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  • Banks’ $5bn swap positions to further depress external reserves

    Nigeria’s shrinking external reserves are expected to decline further due to the settlement of large swap positions between the banks and the Central Bank of Nigeria (CBN). According to estimates, the overall swap books of some Nigerian...

    • Posted January 14, 2016
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  • FBN Holdings to implement stringent cost controls

    The new Group Managing Director of FBN Holdings Plc, Mr. U.K. Eke, has said his focus will be on driving efficiencies across board by implementing stringent cost controls and ‘retooling and reshaping’ the company’s  risk culture. In...

    • Posted January 14, 2016
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  • Government to enforce agreements with power firms

    The Federal Government on Monday commenced moves to enforce all contractual agreements in the Nigerian electricity supply industry on operators in the sector. This is coming as the Minister of Power, Works and Housing, Babatunde Fashola, officially...

    • Posted January 13, 2016
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  • BPE DG faulted in NECOM House sale – Ex-director

    The former Director of Post Privatisation Monitoring at the Bureau of Public Enterprises, Mr. Ibrahim Kashim, has alleged that the current director-general of the agency, Mr. Benjamin Dikki, was indicted by a panel for the controversial sale...

    • Posted January 13, 2016
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  • FG, states to build 500 mega filling stations

    The Federal Government is partnering states and local governments as well as private investors to build hundreds of petrol stations across the country in a bid to prevent future crisis in the supply of petroleum products across...

    • Posted January 13, 2016
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  • SEC puts total value of unclaimed dividends at N90bn

    The Securities and Exchange Commission (SEC) on Monday disclosed that the total value of unclaimed dividends in quoted companies stood at N90 billion as at September 30, 2015. Speaking in Abuja at the commencement of a 3-Day...

    • Posted January 13, 2016
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  • Nigeria to sell N80bn bonds

    Nigeria will sell N80 billion worth of bonds denominated in the local currency at an auction on January 20, her first debt auction of the year, the Debt Management Office (DMO) said on Monday.. The debt office...

    • Posted January 13, 2016
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  • Stock Market sheds N233billion on continuing bear run

    The Nigerian stock market shed N233 billion  on Monday as the bears continued dominate trading, depressing  the market capitalisation to N9.1 trillion, while the Nigerian Stock Exchange (NSE) All-Share Index declined by 2.5 per cent to close...

    • Posted January 13, 2016
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  • CBN lifts ban on dollar deposits, stops forex sales to BDCs

    After months of mounting pressure from economic analysts, small businesses, manufacturing concerns, the International Monetary Fund (IMF), and politicians such as Senate President Bukola Saraki, the Central Bank of Nigeria (CBN) monday relaxed some of its foreign...

    • Posted January 13, 2016
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  • CBN pledges to provide Dangote Refinery with forex

    The Central Bank of Nigeria (CBN) has pledged to meet the foreign exchange requirements for the importation of equipment to the Dangote refinery, petrochemical and fertilizer plant, which is being constructed by the Dangote Group at the...

    • Posted January 12, 2016
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  • Q1 allocations: NNPC earned it from marketers’ past failures – PPPRA

    The Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), Mr. Farouk Ahmed, at the weekend explained why the agency decided to allocate 78 per cent of the total volume of 3.1 million metric tons of...

    • Posted January 12, 2016
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  • NLC tackles IMF chief over subsidy removal, naira devaluation

    Following the visit of the International Monetary Fund (IMF) Managing Director, Christine Lagarde, to Nigeria last week, the Nigerian Labour Congress (NLC) yesterday took a swipe at the IMF boss over her recommendations to the Nigerian government...

    • Posted January 12, 2016
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  • BUA divests from Flour Mills business in $275m deal

    BUA Group, one of Nigeria’s largest foods and infrastructure conglomerates, has announced the divestment of its flour business to Olam International, a leading agri-business company operating in several countries, in a $275 million deal. Speaking at the...

    • Posted January 12, 2016
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