Don't Miss


Latest News

  • Naira may record gain this week

    The naira is expected to stabilise on the parallel market after international money transfer agencies started selling dollars to Bureau De Change operators in line with the Central Bank of Nigeria directive. “We have started receiving dollar...

    • Posted October 10, 2016
    • 0
  • Nigeria’s five largest banks record drop in market share

    The Central Bank of Nigeria’s (CBN) Financial Stability Report (FSR) has revealed that in terms of size of assets and deposit of banks, the market share of the five largest banks in the country, declined to 43.30...

    • Posted October 7, 2016
    • 0
  • NSE capitalisation dips by N92bn in one day

    THe market capitalisation of the Nigerian Stock Exchange dropped by N92bn at the close of trading on the floor of the Exchange on Wednesday to N9.620tn from N9.712tn. The NSE All-Share Index also fell to 28,009.40 basis...

    • Posted October 7, 2016
    • 0
  • Bad loans rising, dollar scarcity to continue — CBN

    The scarcity of foreign exchange will remain challenging in the second half of 2016 due to low oil prices, which may push up credit risks for commercial banks as naira weakness makes loans harder to service, the...

    • Posted October 7, 2016
    • 0
  • Nigeria’s economic crisis may spill to West Africa – IMF

    The International Monetary Fund has warned that the current economic crisis in Nigeria may spill over to the rest of West Africa with negative consequences. It also raised the alarm that Nigeria was spending too much of...

    • Posted October 7, 2016
    • 0
  • NNPC to produce diesel from crops

    The Nigerian National Petroleum Corporation on Wednesday announced that it had commenced the integration of biofuels production from selected energy crops through its agriculture development programme. It stated that it had started mobilising to site on a...

    • Posted October 7, 2016
    • 0
  • Oil sector exposure constitutes 40% of Banks’ loans – Alade

    The Central Bank of Nigeria (CBN) Deputy Governor (Economic Policy), Dr. Sarah Alade has revealed that oil and gas exposures constitute about 40 per cent of the banks’ loan portfolio. However, Alade, who disclosed this in an...

    • Posted October 6, 2016
    • 0
  • SMEDAN, NICON sign MoU on insurance cover for SMEs

    The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has signed a memorandum of understanding (MoU) with NICON Insurance Limited. SMEDAN and NICON, in the agreement, determined to reinforce the agenda of diversification of the economy...

    • Posted October 6, 2016
    • 0
  • IMF downgrades Nigeria growth forecast for 2017

    The International Monetary Fund has cut its 2017 economic growth forecast for Nigeria. The Washington-based lender said in its World Economic Outlook Report on Tuesday that Nigeria’s economy would contract by 1.7 per cent this year and...

    • Posted October 6, 2016
    • 0
  • NCAA summons Emirates over dollar for tickets

    The Nigerian Civil Aviation Authority has summoned officials of Emirates Airlines to a meeting on Wednesday (today), as it continues its investigations into allegations that the airline recently asked its passengers travelling out of Nigeria to pay...

    • Posted October 6, 2016
    • 0
  • FG plans N6.8tn budget for 2017

    The Federal Government plans to spend an estimated N6.812tn as its budget for 2017. The figure is about 13.3 per cent or N806bn above the N6.06tn budgeted for 2016. These details were contained in the 2017-2019 Medium-Term...

    • Posted October 6, 2016
    • 0
  • Nigeria’s projected increase in oil output to offset OPEC’s proposed cuts

    Nigeria’s projected increase in oil production will potentially offset the production cuts proposed by the Organisation of Petroleum Exporting Countries (OPEC) to reduce the level of inventory in the oil market for the recovery of oil prices,...

    • Posted October 5, 2016
    • 0
  • Petrol price stable as kerosene scarcity hits marketers

    Despite the alarm of looming scarcity of petrol raised by some major and independent markets, the price of petrol at the various depots in Lagos has remained relatively stable, THISDAY’s investigation has revealed. This is coming as...

    • Posted October 5, 2016
    • 0
  • General Electric to invest N46bn in Nigeria

    A United States’ industrial firm, General Electric, on Monday announced its plans to invest about $150m (N45.8bn) in Nigeria by 2017. “There are development projects where we are investing,” the Chief Executive Officer, General Electric in Africa,...

    • Posted October 5, 2016
    • 0