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  • Investors stake N2.4billion on shares as Index rises 0.09%

    Investors staked N2.434 billion on 190 million shares in 2,896 deals at the stock market yesterday even as the bulls reclaimed control pushing the Nigerian Stock Exchange (NSE) All-Share Index (NSE ASI) to close 0.09 per cent...

    • Posted January 27, 2017
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  • CBN to sell dollars in special auction to clear backlogs of airlines, others

    The Central Bank of Nigeria (CBN) has asked banks to bid in a special currency auction to clear a backlog of dollar obligations that businesses owe, traders said on Wednesday. The central bank asked commercial lenders to...

    • Posted January 27, 2017
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  • Bears return on weak investors’ sentiments

    The stock market closed lower tuesday, ending two days of positive performance with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) shedding 0.05 per cent to be at 26,217.54. Similarly, market capitalisation shed N4.8 billion to close...

    • Posted January 26, 2017
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  • Power Gencos may soon pack up due to diverse challenges – Elumelu warns

    The Chairman of Transcorp Ughelli Power, Mr. Tony Elumelu, has said the Nigerian power sector is abourt to collapse as operators reel under various operational challenges which include unpaid bills for supplies, and foreign exchange differentials, warning...

    • Posted January 26, 2017
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  • CBN includes power firms in 60% FX allocation, retains MPR at 14%

    Desirous of revamping the country’s ailing power sector, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) yesterday told commercial banks and other authorised dealers in the foreign exchange (FX) market to include electricity companies in...

    • Posted January 26, 2017
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  • BoI boosts investment in solar energy with N1bn fund

    In a bid to ensure that businesses in Nigerian communities that are not connected to the national grid do not lack access to power supply, the Bank of Industry (BoI) has launched N1billion Solar Energy Fund for...

    • Posted January 25, 2017
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  • States back FG on probe of bailout spending

    The decision of the Federal Government to audit the utilisation of the N510bn stimulus package that was disbursed to states last year has received the backing of the commissioners for finance of the 36 states of the...

    • Posted January 25, 2017
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  • FG considers asset sales, others to revamp economy

    The Minister of Budget and National Planning, Senator Udo Udoma, on Monday gave further insights into the Federal Government’s Economic Recovery and Growth Plan due to be launched next month. He said the government planned to privatise...

    • Posted January 25, 2017
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  • 2017 budget will increase spending in productive sector – SEC DG

    The Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo,  has said that the Federal Government’s 2017 budget is aimed at increasing the country’s productive sector spending. Gwarzo on Monday in Abuja said that the budget...

    • Posted January 25, 2017
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  • OPEC, Non-OPEC satisfied with implementation of output cuts

    As crude oil producers seek to reduce oversupply and support prices, the energy ministers of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries yesterday stated that the two groups had made a strong start to...

    • Posted January 24, 2017
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  • Power generation drops to 2,662 megawatts

    The Transmission Company of Nigeria (TCN) has said the nation’s power generation capacity dropped from 3,959 megawatts on January 4 to 2,662 megawatts on January 22. The Nigerian Electricity System Operator (SO) website, a sub agency of...

    • Posted January 24, 2017
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  • External reserves increase by 15% in three months

    The nation’s external reserves have risen by 15 per cent in the past three months, the latest data from the Central Bank of Nigeria have shown. Specifically, the foreign exchange reserves increased by $3.6bn from $23.8bn on...

    • Posted January 24, 2017
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  • Nigerian equities market will grow 3.5% in 2017 – Market analysts

    Despite opening the year with on a negative note, analysts at Meristem Securities Limited (MSL), an investment banking firm, have projected that the Nigerian stock market   will close 2017 positively. The stock market has recorded three consecutive yearly...

    • Posted January 23, 2017
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  • Naira to remain below 500/dollar this week — Experts

    Currency retailers and experts have said the naira will trade slightly below 500 per United States dollar this week despite the commencement of the sale of foreign exchange to Bureau De Change operators by the Central Bank...

    • Posted January 23, 2017
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