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  • Non-performing loans: CBN directs banks to strengthen buffers

    Concerned about the level of loan loss reserves being reported by commercial banks, the Central Bank of Nigeria (CBN) in a proactive measure has mandated the Nigerian lenders to immediately double their general provisions on performing loans...

    • Posted November 15, 2015
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  • NNPC insists Nigeria’s petrol stock still sufficient

    In spite of the fresh increase in queues for petrol by motorists at service stations across the country, the Nigerian National Petroleum Corporation (NNPC) on Friday insisted that the country has enough petrol stocks to last for...

    • Posted November 15, 2015
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  • Nigeria loses N800m annually to vehicle import restriction

    Nigeria is losing not less than N800 million annually as a result of restriction on vehicles import into the country, the President, Shippers’ Association, Lagos State, Mr. Jonathan Nicol, has said. The import restriction was part of...

    • Posted November 14, 2015
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  • Fidelity Bank to upgrade core banking software

    Fidelity Bank Plc said it plans to upgrade its core banking operation to a higher version, which would ensure maximum satisfaction to its customers. The Executive Director, Shared Services, Mrs Chijioke Ugochukwu, said this on Wednesday during...

    • Posted November 14, 2015
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  • BoI shortlists 1,000 business proposals under GEF Scheme

    Following the conclusion of the evaluation of entries received from 3,100 members of the National Youth Service Corps (NYSC), in respect of the online Business Ideas Competition organised by the Bank of Industry (BoI) under the Graduate...

    • Posted November 14, 2015
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  • Bond yields spike on expected tighter liquidity

    Yields on Nigeria sovereign bonds rose sharply across maturities on Thursday with traders going short on debt in the expectation that a new cabinet would bring greater fiscal policy clarity and prompt the central bank to start...

    • Posted November 14, 2015
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  • Electricity consumers’ complaints highest at Ikeja Disco – NERC

    The Ikeja Electricity Distribution Company recorded the highest number of consumer complaints between January and March this year, figures contained in the third quarter report of the Nigerian Electricity Regulatory Commission have shown. Specifically, 30,084 customers tabled...

    • Posted November 14, 2015
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  • Udoma begins work on 2016 budget

    The Minister of Budget and National Planning, Senator Udo Udoma, on Thursday formally assumed duty at the headquarters of the ministry in Abuja. Udoma, who arrived the ministry at around 10am in company with the Minister of...

    • Posted November 14, 2015
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  • No legal basis for NAFDAC’s N1bn fine – Guinness

    Guinness Nigeria Plc on Thursday said “there is no legal basis” for the payment of the N1bn fine imposed on it by the National Agency for Food and Drug Administration and Control. The company said this in...

    • Posted November 14, 2015
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  • Downstream operators want crude refining policy

    Stakeholders in the downstream subsector of Nigeria’s petroleum industry have stressed the need for a national refining policy, which defines the framework for encouraging investment in petroleum refining in Nigeria. The stakeholders at the Ninth Oil Trading...

    • Posted November 13, 2015
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  • Consumers get only 50% of generated power — Nnaji

    A former Minister of Power, Prof. Bart Nnaji, on Wednesday told the Senate ad hoc Committee on Power that the nation was still experiencing epileptic electricity supply because the regulatory agencies had failed to carry out necessary...

    • Posted November 13, 2015
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  • Kachikwu lists Buhari’s policies for oil sector

    President Muhammadu Buhari’s overall plan for Nigeria’s oil and gas sector for the next four years was on Wednesday made known by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. Kachikwu who doubles as the...

    • Posted November 13, 2015
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  • Telecoms Advisory Council harps on industry growth, regulation

    The Telecoms Advisory Council has pledged its readiness to help grow the telecoms sector to an enviable height, insisting that growth of the industry is its priority. The 49 member council, which falls under different categories of...

    • Posted November 13, 2015
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  • Bond yields fall sharply as CBN eases liquidity

    Yields on Nigeria’s bonds fell sharply across maturities on Tuesday as liquidity surged on the interbank money market, traders said, adding that the Central Bank of Nigeria (CBN) had loosened monetary policy to spur credit growth. Nigeria’s...

    • Posted November 12, 2015
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