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  • CBN vows to fight speculators betting on naira devaluation

    Meanwhile, the CBN has vowed to fight off speculators taking bets that the naira will be devalued after Kazakhstan became the latest country to abandon control of its currency. “We haven’t seen any reason so far to...

    • Posted August 22, 2015
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  • Analysts highlight remedy for stable naira

    Analysts at the Financial Derivatives Company Limited (FDC) have argued that the perennial volatility recorded by the naira in the parallel market will continue unless the supply-demand dynamics are adjusted and the domestic manufacturing industry becomes competitive...

    • Posted August 22, 2015
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  • Sterling Bank, GTB’s half-year profits rise

    Sterling Bank Plc and Guaranty Trust Bank Plc on Thursday filed their results for the half year ended June 30, 2015 with the Nigerian Stock Exchange with both banks reporting increases in earnings and profits. Sterling Bank’s...

    • Posted August 22, 2015
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  • Nigeria can earn N5tn from agriculture – Shonga GM

    Nigeria can achieve national food security and earn about N5tn foreign exchange from agricultural exports as well as create massive employment with the adoption of commercial agriculture, the General Manager, Shonga Farm Holdings Limited, Mr. Adebayo Sangobiyi,...

    • Posted August 22, 2015
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  • CSOs recommend probe of dollar deposits in banks

    A coalition of Civil Society Organisations has called on the Central Bank of Nigeria and security agencies to trace the source of the huge dollar deposits in commercial banks, noting that they could be illicit funds being...

    • Posted August 22, 2015
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  • IFMA, Law Union partner on compulsory insurance

    Law Union and Rock Insurance Plc is to partner with the International Facilities Managers Association to deepen insurance penetration in Nigeria. The Managing Director and Chief Executive Officer, Law Union, Mr. Jide Orimolade, disclosed this during a...

    • Posted August 22, 2015
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  • Import duty evasion: Firms move to offset N23bn outstanding charges

    Defaulting importers in the N23 billion import duty evasion have begun moves to offset their debts. The firms, which include the Stallion Group, Olams Farms, and Conti Agro Nigeria Limited are said to be owners of a...

    • Posted August 22, 2015
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  • NCC, Telcos spent N46.1bn on SIM card registration in five years

    The Nigerian Communications Commission (NCC) and the four operators of Global System for Mobile Communications (GSM), spent about N46.1 billion on SIM card registration from 2010 to 2015, THISDAY investigation has revealed. The breakdown of the figure...

    • Posted August 21, 2015
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  • NBC begins work on N80bn mega plant project in Imo

    Management of the Nigerian Bottling Company (NBC) Limited has disclosed that work would soon commence on its mega plant project at Okigwe in Imo State which is expected to cost the company N80 billion. Also, the bottling...

    • Posted August 21, 2015
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  • BVN: CBN provides guidelines for Nigerians abroad

    The Central Bank of Nigeria says it has finalised the guidelines for Nigerians in the Diaspora to enroll for the Bank Verification Number. The Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, said this in...

    • Posted August 21, 2015
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  • Recapitalisation: SEC extends reclassification notification to August 31

    The Securities and Exchange Commission (SEC) has granted an extension to capital market operators (CMO), who intend to reclassify their functions or merger their businesses in view of the recapitalisation exercise by one month. SEC had last...

    • Posted August 21, 2015
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  • SIM deactivation: Angry subscribers storm network centres

    Following the commencement of deactivation of all unregistered and improperly registered SIM cards across telecoms networks, as directed by the Nigerian Communications Commission (NCC), irate subscribers whose phone lines have either been barred or deactivated, yesterday stormed...

    • Posted August 21, 2015
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  • Nigeria recorded N20bn decline in Q2 trade – NBS

    The National Bureau of Statistics on Wednesday said that the country recorded a N20bn decline in its second quarter trade. It specifically said the trade dropped from N4.392tn in the first quarter to N4.372trn in the second...

    • Posted August 21, 2015
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  • Nigeria, others may repay debts in instalments – Report

    Nigeria and other sub-Saharan African countries are increasingly issuing hard-currency bonds with staggered rather than one-off repayments, seeking to minimise the risk that volatile commodity prices will play havoc with their finances. Governments across the continent –...

    • Posted August 21, 2015
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