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  • Foreign exchange reserves rise by 1.05 per cent by May 15

    Nigeria’s foreign exchange reserves rose marginally by 1.05 percent month-on-month to $29.80 billion by May 15 from $29.49 billion a month earlier, data from the central bank showed on Tuesday. The forex reserves of Africa’s biggest economy...

    • Posted May 20, 2015
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  • Dollarisation: Banks peg domiciliary account balance at $10,000

    In an apparent move to check the trending dollarisation of the Nigerian economy and cut down huge dollar liquidity in the system, banks are now directing their customers to keep to a maximum of $10,000 balance in...

    • Posted May 20, 2015
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  • Nigeria’s first sugarcane bio-factory begins operations

    The Federal Government on Monday inaugurated Nigeria’s first sugarcane bio-factory in Zaria, Kaduna State, as part of efforts to achieve national self-sufficiency in the nation’s sugar requirements. Olusegun Aganga, the minister of industry, trade and investment, said...

    • Posted May 20, 2015
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  • CBN amends commercial agric credit scheme guidelines

    The Central Bank of Nigeria (CBN) says it has revised the Commercial Agriculture Credit Scheme (CACS) introduced in April 2010. The amendment is contained in a circular issued by Mr Kelvin Amugo, the Director, Financial Policy and...

    • Posted May 20, 2015
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  • RenCap, stakeholders see huge investment opportunities in Nigeria

    Renaissance Capital, a leading emerging and frontier investment bank, and other stakeholders in the capital market have said the long-term potential of Nigeria and some other African countries is huge with great investment opportunities for investors. The...

    • Posted May 19, 2015
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  • European shares slide on Greek debt fears

    Europe’s main stock markets mostly slid Monday as the banking sector took a hit from concerns over Greece’s unresolved crisis, dealers said. The AFP reported that London’s benchmark FTSE 100 index of top companies shed 0.15 per...

    • Posted May 19, 2015
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  • Skye Bank declares N6.2bn Q1 profit

    Skye Bank Plc has posted a profit before tax of N6.2bn for the first quarter of 2015. The figure is 82 per cent higher than the N3.4bn pre-tax profit it declared for the corresponding quarter of 2014....

    • Posted May 19, 2015
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  • Law Union & Rock records N333.7m profit for Q1

    Law Union & Rock Insurance Plc said its profit before tax rose to N333.7m in first quarter of this year from N227.8m in the same period of 2014. A statement from the firm on Monday said it...

    • Posted May 19, 2015
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  • 60,000 benefit from N200bn loans – Diamond Bank

    The Regional Manager, Diamond Bank Plc, Ibadan, Mr. Oluropo Olanrewaju, says the bank has granted about N200bn loans to 60,000 Small and Medium-Scale Enterprises under its BusinessXpress account. Olanrewaju made this known at the 50th edition of...

    • Posted May 19, 2015
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  • Court stops hearing on code of corporate governance

    The Financial Reporting Council of Nigeria has cancelled the public hearing on the draft National Code of Corporate Governance scheduled to hold on Tuesday (today). The Chairman, FRC, Hajia Maryam Ibrahim, said this at a press briefing...

    • Posted May 19, 2015
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  • Accountancy vital to African economic confidence –Expert

    The Institute of Chartered Accountants in England and Wales says a strong accountancy and finance profession is vital for the development of Africa’s national economies. The Senior Adviser, International Development, ICAEW, Mr. Tony Hegarty, who stated this,...

    • Posted May 19, 2015
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  • Nigeria, S’Africa, Kenya plan ETF cross-listings

    South Africa, Nigeria and Kenya are planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities, according to the Johannesburg Stock Exchange. “We reached out to East Africa and West Africa,”...

    • Posted May 19, 2015
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  • Heritage Bank unveils initiative for Children’s Day

    Heritage Bank says it is offering school children across the country an innovative way to celebrate the 2015 Children’s Day through what it calls ‘My Day as a Banker’ experience. The bank said in a statement that...

    • Posted May 19, 2015
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  • SEC takes investor education to NYSC orientation camps

    The Securities and Exchange Commission is hoping to increase participation in the country’s capital market by targeting and exposing graduates to opportunities in the market. The commission, which has organised series of investor education programmes for Nigerians...

    • Posted May 18, 2015
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