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  • Higher food prices push inflation to 9.4%

    The Consumer Price Index (CPI) which measures inflation increased mariginally to 9.4 per cent in September compared to 9.3 per cent in the previous month, according to the National Bureau of Statistics (NBS). It attributed the rise...

    • Posted October 16, 2015
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  • Nigeria to ban rice importation in 2017 – Yari

    Zamfara State Governor and Chairman of the Nigeria Governors’ Forum (NGF), Alhaji Abdulazeez Yari, has said Nigeria will ban importation of rice  in the next two years (2017). Yari, who briefed State House Correspondents on Wednesday in...

    • Posted October 16, 2015
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  • Access Bank strengthens alternative banking channels

    Access Bank Plc said it has selected CR2’s BankWorldomnichannel suite to manage its self-service channels including ATM, internet, and mobile. According to a statement, the strategic alliance was celebrated at Access Bank’s London headquarters recently. It pointed...

    • Posted October 15, 2015
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  • Demutualisation: NSE appoints Rand Merchant Bank, Chapel Hill as financial advisers

    The Nigerian Stock Exchange (NSE) has made a major move towards its demutualisation with the appointment of Rand Merchant Bank (RMB) and Chapel Hill Denham (CHD) as financial advisers for the exercise. The NSE had in March...

    • Posted October 15, 2015
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  • Forex restrictions: Massive job cuts loom in manufacturing sector

    The federal government’s drive to create jobs for millions of unemployed Nigerians may suffer setback owing to the Central Bank of Nigeria’s (CBN’s) foreign exchange (forex) restrictions, business analysts have warned. The policy, which took effect in...

    • Posted October 15, 2015
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  • Ecobank Nigeria, Deutsche Bank seal deal on trade financing

    Deutsche Bank and Ecobank Nigeria Limited have announced the signing of a memorandum of understanding (MoU) to expand their trade finance relationship. Under the terms of the MoU, Deutsche Bank would provide export credit guarantee program GSM-102...

    • Posted October 15, 2015
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  • NGF in strategy talks with MDAs, donor agencies on reforms

    Ahead of the meeting the National Economic Council on Friday, the  Nigeria Governors’ Forum (NGF) has met with strategic government agencies and development partners on ways to advance the proposed reforms and supports to states of the...

    • Posted October 15, 2015
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  • Petrol queues resurface as marketers cut imports

    Following a reduction in the importation of Premium Motor Spirit (otherwise called petrol) into the country, long queues have started resurfacing at filling stations in Lagos, Ogun, Oyo and other states of the federation as well as...

    • Posted October 14, 2015
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  • CBN adjusts Forex peg to N196.98/$1

    The Central Bank of Nigeria (CBN) strengthened its exchange rate peg slightly to N196.98 against the dollar on the interbank market on Monday, from N197 to a dollar it set last week, traders said. According to Reuters,...

    • Posted October 14, 2015
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  • NNPC to explore alternative funding to offset subsidy debts to oil marketers

    The Nigerian National Petroleum Corporation (NNPC) monday said it would explore new financing mechanisms to offset outstanding debts on subsidy claims which the federal government owes petroleum marketers in the country. The corporation also stated that it...

    • Posted October 14, 2015
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  • GTBank partners AFD on N3bn SMEs’ financing scheme

    Guaranty Trust Bank Plc (GTBank) said it has gone into partnership with Agence Française de Développement (AFD) to launch a N3 billion Ariz Portfolio Guarantee Scheme, an initiative designed to boost financing for business start-ups and development...

    • Posted October 14, 2015
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  • Nigeria may curtail Ghana natural gas supply over debts

    Nigeria may curb the supply of natural gas to Ghana because the country hasn’t paid more than a year of bills for the fuel, the West African Gas Pipeline Corporation said. Ghana stopped paying for the fuel...

    • Posted October 14, 2015
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  • Nigeria loses N200billion to fraudulent auctioning of seized cargoes

    The Nigerian Association of Auctioneers (NAA) has said Nigeria lost about  N200 billion in four years to fraudulent disposal of seized goods by the Nigeria Customs Service (NCS). In a statement by the NAA General Secretary, Isibor...

    • Posted October 14, 2015
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  • Access Bank upgrades system, gets ISO certifications

    As part of effort to strengthen its operations and also entrench operational excellence, Access Bank Plc has upgraded its system with additional securities measures. The bank has also been conferred with the ISO 27001:2013; ISO 22301 and...

    • Posted October 13, 2015
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