Don't Miss


Latest News

  • CIBN stresses importance of banks to economic recovery

    The financial services sector is at the heart of the economy and it must lend to the Micro, Small and Medium Enterprises in order to enhance economic recovery, the President/Chairman of Council, Chartered Institute of Bankers of...

    • Posted August 26, 2016
    • 0
  • Poor transmission: Power distribution firms forfeit N1bn monthly

    Power distribution companies have said they are currently losing over N1bn every month as a result of limited electricity evacuation capacity of the Transmission Company of Nigeria. According to the Discos, the poor transmission infrastructure in Nigeria...

    • Posted August 26, 2016
    • 0
  • Stock market loses N438bn in one year

    The Nigerian stock market (equity category) depreciated by N438bn between August 24, 2015 and August 24 this year. The Nigerian Stock Exchange All-Share Index also slid from 29,214.13 basis points to 27,880.46 basis points within the same...

    • Posted August 26, 2016
    • 0
  • CBN to stop dud cheque issuers from operating current account

    The Central Bank of Nigeria is in the process of stopping issuers of dud cheques (returned cheques) from opening current account, the Deputy Director, Banking Supervision, CBN, Mr. Stephen Nwadiuko, has said. He said the CBN was...

    • Posted August 26, 2016
    • 0
  • FEC begins 2017 budget preparation, approves MTEF

    The Federal Executive Council on Wednesday approved the Medium Term Expenditure Framework and Fiscal Strategy Paper for 2017 to 2019, thus kick-starting the preparation of the 2017 budget. The approval was given at a meeting of the...

    • Posted August 26, 2016
    • 0
  • Nigeria’s oil production to remain down through 2017

    AGAINST the positive picture painted on possible rise in the price of crude oil at the international market above USD50 per barrel, Nigeria may be left out of reaping this fortune as the United States Energy Information...

    • Posted August 25, 2016
    • 0
  • Gas alone can’t solve Nigeria’s electricity problem — FG

    The Federal Government has declared that gas alone cannot solve the country’s electricity challenges. Disclosing this at the just concluded 2016 Annual Conference of the National Association of Energy Correspondents in Lagos state, Minister Of Power, Works And...

    • Posted August 25, 2016
    • 0
  • SEC proposes rule for 12-year-old unclaimed dividend

    The Securities and Exchange Commission has proposed that companies and registrars in custody of dividends, which remain unclaimed by shareholders 12 years after the date of declaration or subsequently attain the 12 years threshold shall upon the...

    • Posted August 25, 2016
    • 0
  • 272 firms shut down in one year – MAN

    Manufacturers and other private sector operators on Tuesday painted a gloomy picture of how the foreign exchange restriction placed on 41 items by the Central Bank of Nigeria had affected operations in the business sector. They said...

    • Posted August 25, 2016
    • 0
  • Japan donates $9.7m solar power project to Nigeria

    The Japanese Government, through its agency, Japan International Cooperation Agency, has donated solar power worth $9.7 million to the Federal Government to boost electricity in the country. The Ambassador of Japan to Nigeria, Mr Sadanobu Kusaoke, disclosed this in...

    • Posted August 25, 2016
    • 0
  • FirstBank names Patrick Iyamabo as new Chief Financial Officer

    First Bank of Nigeria Limited, Nigeria’s most valuable banking brand and foremost financial institution, Tuesday announced the appointment of Mr. Patrick Iyamabo as its new Chief Financial Officer (CFO). The appointment follows the elevation of the former...

    • Posted August 24, 2016
    • 0
  • Oil falls below $50 on Nigeria, Iraq supply boost

    International oil benchmark, Brent crude, retreated on Monday, falling below the $50 per barrel mark on worries about growing Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising US oil rig count. China’s July...

    • Posted August 24, 2016
    • 0
  • Osinbajo seeks continental cooperation to improve economies

    Vice-President Yemi Osinbajo on Monday urged African nations to work together, especially in developing their economies for the benefit of their people. This, he said, should come before other forms of international cooperation. According to a statement...

    • Posted August 24, 2016
    • 0
  • TCN shops for N2.3tn to transit 10,000MW electricity

    The Transmission Company of Nigeria says it will require $7.5bn (about N2.3tn) to wheel 10,000 megawatts of electricity, which is the target of the Federal Government by 2019. It also declared that power distribution companies were still...

    • Posted August 24, 2016
    • 0