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  • AMCON set to name Keystone Bank buyer

    The Asset Management Corporation of Nigeria has said it will conclude the process for the sale of Keystone Bank in the next two weeks. AMCON said it was in the final stage of the sale process, adding...

    • Posted August 9, 2016
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  • Government undermining domestic airlines – Operators

    The Airline Operators of Nigeria has said domestic carriers are being undermined by the government through lack of support for their operations. The Chairman, AON, Capt. Noggie Meggison, said in a statement that while foreign exchange was...

    • Posted August 9, 2016
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  • Dangote commences construction of concrete roads in states

    Dangote Industries Limited has announced the commencement of the construction of concrete roads in various states across the country, particularly in Lagos, Bauchi, Kogi, Kaduna and Ogun states. “We are very happy at the moment. We can...

    • Posted August 9, 2016
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  • CAC prepares companies’ Act amendment bill

    The Corporate Affairs Commission is currently finalising the draft bill for the amendment of the Companies and Allied Matters Act to strengthen the regulatory and enforcement powers of the commission. The Director, Public Affairs, CAC, Mr. Williams...

    • Posted August 9, 2016
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  • Customs boss moves against fraudulent importers, freight forwarders

    The Comptroller General of the Nigeria Customs, Col. Hameed Ali (rtd) has vowed to bring to book importers and freight forwarders who are bent on defrauding the federal government. Specifically, he said importers who abuse the fast...

    • Posted August 9, 2016
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  • Buhari seeks more economic engagement between Nigeria, Italy

    President Muhammadu Buhari has called for more intensive trade and economic engagement between Nigeria and Italy. Speaking recently during a courtesy call by Mr. Paolo Gentiloni, the Italian Minister of Foreign Affairs and International Cooperation at the...

    • Posted August 9, 2016
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  • Non-oil sector growth drops to -0.36%

    Amidst efforts by the Federal Government to diversify the economy from oil, the prospects of earning revenue from the non-oil sector are fast fading, owing to the dismal performance of the sector. Data from Bloomberg showed that...

    • Posted August 8, 2016
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  • Bonny light crude projected to hit $55/b by December

    Analysts at FBNQuest, an economic research and investment banking arm of FBN Holdings Plc, has predicted that the price of Bonny Light crude oil at the international market would hit $55 per barrel at the end of...

    • Posted August 8, 2016
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  • Underdeclaration: NCS loses N200m duty

    The Nigeria Customs Service on Friday said it had lost about N200m to underdeclaration of goods at the seaports. The Comptroller General of Customs, Hameed Ali, said this in Lagos while announcing the seizure of 16 containers,...

    • Posted August 8, 2016
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  • Traded shares drop by 37% in two months

    The quantity of shares traded on the floor of the Nigerian Stock Exchange dropped by 37.4 per cent from the end of May to July ending this year. The quantity of shares traded in the month of...

    • Posted August 8, 2016
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  • Pension funds rise to N5.7tn

    The total assets under the Contributory Pension Scheme rose from N5.3tn in December last year to N5.729tn at the end of June. The funds, which stood at N4.6tn in December 2014, include the total amount contributed by...

    • Posted August 8, 2016
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  • Fitch affirms 8 Nigerian Banks’ Ratings on sovereign criteria change

    Fitch Ratings friday affirmed the national ratings of eight Nigerian banks. The banks are First Bank of Nigeria (FBN), United Bank for Africa (UBA), Fidelity Bank, Diamond Bank, First City Monument Bank (FCMB), Union Bank , Stanbic...

    • Posted August 7, 2016
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  • FG moves to cut power utilisation by 85%

    The Minister of Science and Technology, Dr. Ogbonnaya Onu, on Friday said that the Federal Government had taken steps to reduce power consumption by households, businesses and government by 85 per cent. He told our correspondent, in...

    • Posted August 7, 2016
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  • NSE market capitalisation loses N112bn

    The Nigerian equity market on Friday ended on a negative note with the market capitalisation dropping by N112 billion due to huge losses by some highly-capitalised stocks. The market capitalisation which opened at N9.531 trillion shed N112...

    • Posted August 7, 2016
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