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  • CBN, banks pledge increased funding to Agric Sector

    The Central Bank of Nigeria (CBN) and deposit money banks in Nigeria, under the aegis of the bankers’ committee have restated their commitment to expanding bank lending in agro-business in order to discourage importation in the country....

    • Posted December 17, 2014
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  • FG hands over 51% stake in Stallion Properties to NNPC Pension Fund

    The federal government on Monday formally handed over its 51 per cent shares (161,814,000 shares) in the residual assets of Stallion Property and Development Company (SPDC) to the Nigerian National Petroleum Corporation Pension Fund Limited (NNPC PFL),...

    • Posted December 17, 2014
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  • Oil: Brent drops to five-year low at $61

    The average price of crude oil from the Organisation of Petroleum Exporting Countries fell below $60 for the first time since July 2009, according to data from the 12-member cartel. However, the global benchmark Brent, against which...

    • Posted December 17, 2014
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  • Metering: NERC begins monitoring of power firms

    The Nigerian Electricity Regulatory Commission has commenced a nationwide monitoring of power distribution companies in order to determine those that have failed to provide meters to electricity consumers who have paid for the device under the Credited...

    • Posted December 17, 2014
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  • Nigeria, Mexico to increase trade, investment

    The Federal Government, in a bid to improve bilateral relations with Mexico, has inaugurated the Nigeria/Mexico Chamber of Commerce and Industry. The move, according to the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, will help...

    • Posted December 17, 2014
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  • Telecoms industry attracted N1tn in two years – FG

    The Nigerian Telecommunications industry attracted $6bn (N1.08tn) in Foreign Direct Investment between 2011 and 2013, the Federal Government has said. The Minister of Communications Technology, Dr. Omobola Johnson, who said this at the 2014 Ministerial Platform held...

    • Posted December 17, 2014
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  • Value of transactions on NASD OTC hits N2billion

    The value of trading on the NASD OTC market  last week hit N2 billion,    three months after it  hit N2 billion. The NASD OTC is licensed platform for the trading of unlisted securities. Prior to 2013, holders...

    • Posted December 17, 2014
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  • FRC to probe sale of Mainstreet, Enterprise Banks

    The Financial Reporting Council (FRC) has indicated plans to investigate the sale of the bridged banks by the Asset Management Corporation of Nigeria (AMCON) next year. The Chief Executive Officer of the FRC, Mr. Jim Obazee, gave...

    • Posted December 16, 2014
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  • NSE all-share index plunges to two-year low

    The Nigerian equities market dipped to a two-year low last Friday as investors intensified dumping of shares causing the Nigerian Stock Exchange (NSE) to close at 30,763.38.  Also, market capitalisation ended at N10.156 trillion.  Bears have been...

    • Posted December 16, 2014
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  • SON approves Dangote Cement quality measures

    Dangote Cement Plc said the Standards Organisation of Nigeria had approved the quality, environmental and safety measures put in place by the company and some business units of the Dangote Group and certified them accordingly. According to...

    • Posted December 16, 2014
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  • Airlines profit from falling oil prices – IATA

    The International Air Transport Association (IATA) has said airlines are profiting from falling oil prices, which is projected to remain below $100 dollars till middle of 2015 and beyond. Director General and CEO of IATA, Tony Tyler,...

    • Posted December 16, 2014
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  • 36.9m Nigerians excluded from financial system – Survey

    Findings from the EFInA access to financial services in Nigeria 2014 survey has revealed that 36.9 million adults, representing 39.5 per cent of the population are financially excluded. This means that they have no access to financial...

    • Posted December 16, 2014
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  • CBN introduces new N100 Friday

    The Central Bank of Nigeria on Sunday said the commemorative N100 note would go into circulation on Friday. President Goodluck Jonathan had recently unveiled the N100 note in commemoration of Nigeria’s 100 years. It was in remembrance...

    • Posted December 16, 2014
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  • Oil slump taking toll on economy – Minister

    The Federal Government has admitted that the persistent drop in global oil prices is already taking a toll on the country’s economy. The Minister of State for Finance, Ambassador Bashir Yuguda, stated this while speaking on Friday...

    • Posted December 16, 2014
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