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  • CBN warns against counterfeiting of naira

    The Central Bank of Nigeria (CBN) in its resolve to sustain stakeholder confidence in the country’s currency has commenced the education of Nigerians on the incorporated security features of the naira, even as it warned culprits to...

    • Posted November 28, 2014
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  • Arik Airline increases flight frequency on domestic routes

    The Managing Director, Arik Airline, Mr Chris Ndulue, on Wednesday said the airline had increased its flights on the Enugu, Benin, Calabar and Ibadan routes to cope with passenger demand. Ndulue spoke in an interview with the...

    • Posted November 28, 2014
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  • NSE Index rises 1.37% as equities remain attractive

    The Nigerian equities market maintained a positive trend yesterday with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciating by 1.37 per cent to close at 34,583.29, from 34,115.84 the previous day. Similarly, the market capitalisation added...

    • Posted November 28, 2014
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  • Deputy CBN Governor says naira not devalued

    The newly appointed Deputy Governor of Central Bank of Nigeria, Dr. Joseph Nnana, on Wednesday said that the apex bank had not devalued the naira. Rather, he said the CBN merely announced the exchange rate in compliance...

    • Posted November 28, 2014
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  • Banks can withstand impact of oil price decline – NDIC

    The Managing Director of the Nigeria deposit insurance corporation (NDIC) Alhaji Umaru Ibrahim has disclosed that Nigerian banks can survive the impact of the current falling price on the economy. Ibrahim also said with the federal government’s...

    • Posted November 28, 2014
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  • Nigeria’s oil fortunes face terrorism threat – Dangote

    Africa’s richest man and founder, Dangote Group, Aliko Dangote, has raised the alarm over rising threats to Nigeria’s oil and gas fortunes owing to the rising spate of terrorism in the country. He said the windows of...

    • Posted November 28, 2014
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  • NLNG’s subsidy on cooking gas hits $50m

    The Nigeria Liquefied Natural Gas Limited has subsidised Liquefied Petroleum Gas (cooking gas) to the tune of $50m since the commencement of its intervention scheme on the product nationally. The firm, which currently supplies some 80 per...

    • Posted November 28, 2014
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  • Reps committee wants Shell to pay $3.6bn damages

    The House of Representatives Committee on Environment on Wednesday recommended that Shell Nigeria Exploration and Production Company should pay $3.6bn (about N604.8bn) as damages for losses incurred by coastal communities in Bayelsa State during the 2011 Bonga...

    • Posted November 28, 2014
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  • Devaluation: Banks face losses on borrowed funds

    Deposit Money Banks that have obtained foreign loans running into hundreds of millions of dollars face record losses on the loans following the devaluation of the naira by the Central Bank of Nigeria on Tuesday. According to...

    • Posted November 28, 2014
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  • AMCON completes sale of Enterprise Bank to Heritage Bank

    The Asset Management Corporation of Nigeria (AMCON) yesterday announced the successful completion of the sale of the entire issued and fully paid up ordinary shares of Enterprise Bank Limited to HBCL Investment Services Limited (HISL) for a...

    • Posted November 28, 2014
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  • NSE CEO elected President of African Securities Exchanges Association

    The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema, has been elected President of African Securities Exchanges Association (ASEA). This decision was reached at the Executive Committee meeting of ASEA after its...

    • Posted November 27, 2014
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  • World Bank controls 62% of Nigeria’s public external debt

    Data released by the Debt Management Office (DMO) has revealed that the World Bank Group controls a total of 62 per cent of Nigeria’s public external debt at end-September this year. Analysis of the data also revealed...

    • Posted November 27, 2014
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  • Stocks cheap on foreign investors’ exit – Onyema

    Foreign investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued in Africa’s biggest economy, the bourse’s chief executive officer, Mr. Oscar Onyema has said. The benchmark index’s 18 per cent decline this year isn’t justified...

    • Posted November 27, 2014
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  • Credit to private sector rises to N17.789tn

    Banking sector credit to the private sector increased year-on-year to N17.789 trillion at the end of October 2014, compared to the N17.659 trillion it stood at the end of September 2014. The Central Bank of Nigeria (CBN)...

    • Posted November 27, 2014
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