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  • CBN reviews dealers’ Forex position to 0.1%

    The Central Bank of Nigeria (CBN) on Monday reviewed upward the daily foreign currency trading positions of banks from zero per cent to 0.1 per cent. In addition, banks are now required to utilise funds purchased from...

    • Posted January 14, 2015
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  • CBN should adjust naira value quarterly – Chike-Obi

    The Central Bank of Nigeria needs to adjust the value of the naira every quarter in order to mitigate the effect of inflation that can, among other things, make goods manufactured within the country not competitive. The...

    • Posted January 14, 2015
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  • Equities Market records first gain in 2015

    The Nigerian equities market on Monday recorded its first gain of the year after  shedding  13 per cent last week.  The market had recorded persistent decline in the first trading week of the year, leading to a...

    • Posted January 14, 2015
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  • Increased political spending, others threaten price stability

    The threats from increased political spending and growth in money supply have been identified as some factors that are underlining threats to the consumer price index (CPI) in Nigeria. Other factors that have continued to threaten inflationary...

    • Posted January 14, 2015
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  • Budget: Senate may propose $40 oil benchmark

    Strong indications emerged on Monday that the Senate would propose that the oil benchmark for the 2015 budget be reduced to $40 per barrel in line with the reality of falling crude prices in the international market....

    • Posted January 14, 2015
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  • Gas producers, power firms disagree over supply terms

    Private investors who took over the electricity generation companies unbundled from the Power Holding Company of Nigeria are in disagreement with gas producers over supply terms. The gas producers, it was learnt, had asked the power firms...

    • Posted January 14, 2015
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  • Gwarzo replaces Oteh as acting SEC DG

    The Securities and Exchange Commission on Monday announced that the Executive Commissioner, Operations, Mr. MounirGwarzo, had taken over the affairs of the commission as the acting Director General. Gwarzo takes over the leadership of the commission from...

    • Posted January 14, 2015
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  • FG puts monitoring gadgets on gas pipelines

    The Federal Government on Monday said it had commenced the installation of electronic monitoring equipment on pipelines that supply gas to power generation plants following their repeated rupturing by vandals. According to the government, the gains recorded...

    • Posted January 14, 2015
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  • Gas tanker runs aground off Nigerian coast

    A Liquefied Natural Gas (LNG) tanker has run aground off Nigerian coast after taking on a cargo at the Bonny Island export plant, two trading sources said. The 165,000-cubic-metre-capacity Magellan Spirit tanker, owned by Teekay LNG Partners,...

    • Posted January 14, 2015
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  • Fuel importation will end in 2018 – Aganga

    The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said that the Federal Government plans to ensure that the country stops the importation of petroleum products by 2018. He said this during an interview on...

    • Posted January 13, 2015
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  • CBN suspends directive on oil sector loans

    A new rule meant to assist banks to manage their loan risks in the oil and gas sector in the face of the falling oil prices has been suspended by the Central Bank of Nigeria. The suspension...

    • Posted January 13, 2015
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  • 10 stockbroking firms traded N1.7trillion shares in 2014

    Ten stock-broking firms accounted for N1.791 trillion worth of equities traded on the Nigerian stock market in 2014, data obtained from  the Nigerian Stock Exchange (NSE) have shown. Although the overall market performance will be made public...

    • Posted January 13, 2015
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  • FG faces N1.9tn funding gap in 2015 budget

    The Federal Government faces about N1.935tn funding gap in the N4.3tn budget proposed for the 2015 fiscal year, a new report has found. This represents a 45 per cent shortfall in the budget revenue. The 2015 Synopsis...

    • Posted January 13, 2015
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  • Foundation receives 3,000 applications from business owners

    The Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, has said that the organisation has so far received over 3,000 applications from entrepreneurs for its recently inaugurated $100m fund. The fund was set up last year...

    • Posted January 13, 2015
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