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  • FG spent N500bn on power sector liabilities

    The Federal Government spent about N500bn to settle the liabilities and debts that threatened to truncate the power sector reform, the Supervising Minister of Information, Dr. Nuruddeen Mohammed, has said. Mohammed, who said this at a press...

    • Posted January 2, 2015
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  • FG may reopen MMIA cargo terminal next week

    Indications have emerged that the Federal Government may reopen the cargo terminal of the Murtala Muhammed International Airport in Lagos next week. This is because the congestion, which led to the closure of the terminal two weeks...

    • Posted January 2, 2015
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  • Stanbic IBTC to float more Exchange Traded Funds

    Chief Executive Officer, Stanbic IBTC Asset Management Limited(SIAML), Mr. Olumide  Oyetan, has disclosed that the company will float more Exchange Traded Funds (ETF) in 2015. He said the company would do so because of its commitment to...

    • Posted January 2, 2015
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  • Over 100 stockbroking firms comply with new capitalisation

    Over 100 market operators playing the role of broker/dealer were able to comply with the new minimum capital requirement  before the Securities and Exchange Commission (SEC) extended the deadline by nine months to September 30, 2015. SEC ...

    • Posted January 1, 2015
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  • BoI invests N1.1bn in local manufacture of smart cards

    The Bank of Industry (BoI) announced its resolute support for backward integration initiatives that will result in the development of profitable manufacturing of smart cards now widely used in the country. The nation’s leading development bank on...

    • Posted January 1, 2015
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  • Total deposits at CBN fall by 2.9%

    The total deposits at the Central Bank of Nigeria declined by 2.9 per cent to N6.683tn during the third quarter of 2014, the CBN stated in a new report. This was in contrast to the one per...

    • Posted January 1, 2015
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  • Brokers hail SEC over extension of recapitalisation deadline

    Some market operators yesterday hailed the Securities and Exchange Commission (SEC) for extending the deadline  to comply with the new minimum capital requirements by nine months, saying it is  a good development for the market and economy...

    • Posted January 1, 2015
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  • NSE lists 6.3 billion Champion Breweries shares

    The Nigerian Stock Exchange (NSE) has admitted a total of 6.3 billion  ordinary shares of 50 kobo each belonging to Champion Breweries Plc to trade on the exchange. The NSE said the listing followed  the  company’s recently...

    • Posted January 1, 2015
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  • Banks face risk from oil price slump

    With the exposure of banks operating in the country to the oil and gas industry, the plunge in global oil prices poses risks to the lenders, Ecobank Research has said. It said the $50 per barrel plunge...

    • Posted January 1, 2015
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  • NSE index rises marginally as equities rally slows

    The equities segment of the Nigerian Stock Exchange closed higher on Tuesday a day with major market indicators rising marginally. The Nigerian Stock Exchange All-Share Index rose by 0.06 per cent or 20.4 basis points to close...

    • Posted January 1, 2015
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  • Oil prices hit new low at $57

    As oil prices declined further on Tuesday to their lowest levels since May 2009, the global benchmark Brent, against which Nigeria’s oil is priced, tumbled below $58 per barrel. Oil prices have been in steep decline since...

    • Posted January 1, 2015
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  • Power generation fell to 2,900MW in Q3 — Report

    Average power generation declined to 2,900 megawatts per hour in the third quarter of 2014, down from 3,250MW/h recorded in the second quarter of the year. Despite efforts to increase power generation to at least 5,000MW before...

    • Posted January 1, 2015
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  • Nigeria may miss cocoa output target as disease takes toll

    Nigeria may miss its cocoa output target of 500,000 metric tons in the 2014-15 season after an outbreak of fungal blackpod disease devastated farms following heavy rains, a farmers’ association said. “The devastating effect of the excessive...

    • Posted January 1, 2015
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  • FG extends capital budget execution till March 2015

    The Federal Government has extended the execution of the capital components of the 2014 budget by three months from the initial end date of December 31, 2014 to the last day of March 2015. Our correspondent learnt...

    • Posted December 31, 2014
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