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  • NDPR to increase refining capacity to 11,000 bpd

    Chemex Modular, LLC said it had reached terms in principle with the Niger Delta Petroleum Resources Limited to expand NDPR’s existing refining capacity from 1,000 barrels of crude per day to 11,000 barrels per day. The company...

    • Posted September 9, 2016
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  • Take advantage of low stocks prices – Fidelity Bank MD urges investors

    Investors have been advised to take advantage of the low prices of shares and increase their investment at the stock market. The Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, gave this advice while speaking during a...

    • Posted September 9, 2016
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  • Efficient payment system pivotal for financial system’s growth – Emefiele

    The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has stressed that an efficient payment system is pivotal to Nigeria’s financial system as well as in engendering sustained economic growth and development. The governor pointed out...

    • Posted September 9, 2016
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  • NAIC rules out compensation for victims of tomato virus

    The Nigerian Agricultural Insurance Corporation (NAIC) has said that tomato farmers will get no compensation for losses incurred during the outbreak of ‘tomato Ebola Virus’ in different parts of the country. The Corporation explained that its role...

    • Posted September 8, 2016
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  • African economies gain from agriculture investment

    African countries that took early action in the past decade to invest in agriculture have reaped the rewards, enjoying higher economic growth and a bigger drop in malnutrition, a major farming development organisation said yesterday. The report...

    • Posted September 8, 2016
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  • UBA declares 20 kobo interim dividend after marginal growth

    As expected, the challenging operating environment impacted performances of most companies for the half year (H1) ended June 30, 2016. The banks were not left out as some of them recorded lower profits while some ended the...

    • Posted September 8, 2016
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  • GNI settles N700m claims in six months

    Great Nigeria Insurance Plc paid N700m claims between January and June to its customers, the company said in a statement on Tuesday. General business accounted for over 19 per cent of the figure while life insurance business...

    • Posted September 8, 2016
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  • FG to borrow N120bn from local debt market

    The Federal Government is planning to borrow N120bn ($387m) in local-currency denominated bonds at an auction on September 14, the Debt Management Office has said. The DMO said on Tuesday it would raise N40bn each from debt...

    • Posted September 8, 2016
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  • Stock market loses N70bn in one day

    The Nigerian Stock Exchange market capitalisation dropped by N70bn on Tuesday following losses in 29 stocks and gains in 10 stocks. Market capitalisation dropped to N9.447tn from N9.517tn, while the NSE All-Share Index slipped to 27,503.81 basis...

    • Posted September 8, 2016
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  • Nigeria losing one million barrels of oil daily – Osinbajo

    Vice-President Yemi Osinbajo says Nigeria has been losing one million barrels of crude oil daily in the last six months due to the activities of pipeline vandals. Osinbajo, who is the head of President Muhammadu Buhari’s economic...

    • Posted September 8, 2016
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  • Lister Oil Tank Farm: Ismail Arisekola-Alao’s forgery allegation a spurious claim – First Bank

    Leading financial institution, First Bank, says its attention has been drawn to the story in some media publications on the purported allegation of forgery against its officers by Ismail Arisekola-Alao in respect of the Deed of Guarantee...

    • Posted September 7, 2016
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  • Former GMDs want NNPC’s refineries restructured, run as IJVs

    Former Group Managing Directors (GMDs) of the Nigerian National Petroleum Corporation (NNPC) have suggested that the nation’s four refineries located in Kaduna, Warri and Port Harcourt be reorganised and operated as Incorporated Joint Venture (IJV) companies instead...

    • Posted September 7, 2016
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  • NACCIMA hails CBN for licensing new international money transfer operators

    The Nigerian Association of Chambers of Commerce and Industry Mines and Agriculture (NACCIMA) has applauded the Central Bank of Nigeria for licensing 11 additional International Money Transfer Operators (IMTOs) to operate in Nigeria. The trade group described...

    • Posted September 7, 2016
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  • NLNG raises govt revenue by $26bn in five years

    The Nigeria LNG Limited says it has contributed more than $26bn to government revenue in the last five years. The Managing Director of the company, Mr. Tony Attah, disclosed this in Abuja when he met with the...

    • Posted September 7, 2016
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