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  • Insurance industry’s total premium hits N350bn

    The insurance industry has announced a total premium of N350 billion in its business activities in 2015, against N294billion it recorded in 2014. This represents 19per cent increase from last year’s figure. The industry, however, did not give a breakdown...

    • Posted July 5, 2016
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  • Manufacturers lose N348.6bn to new forex policy

    Manufacturers who had outstanding dollar requests and Letters of Credit (applied for at N197/dollar) before the new foreign exchange policy came into existence lost approximately  N348.6bn by Monday, June 20, 2016, the day the policy commenced, findings...

    • Posted July 5, 2016
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  • Oando announces N4.1bn profit for Q1

    Indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchanges, Oando Plc, has announced a profit after tax of N4.1bn for the three-month period ended March 31, 2016. The results were delayed due to what...

    • Posted July 5, 2016
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  • Oil slump: Taxation is Nigeria’s future – LIRS boss

    The Executive Chairman, Lagos State Internal Revenue Service, Mr. Olufolarin Ogunsanwo, says taxation is the future of Nigeria following the drop in oil prices. He made the declaration in a keynote address at a symposium on taxation...

    • Posted July 5, 2016
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  • 10 brokers traded N98.430billion shares in June

    Activities on the floors of the Nigerian Stock Exchange (NSE) 2016 as measured by volume of trading by the top 10 stockbrokers for the month of June, totalled 7.218 billion shares . The volume of trading by...

    • Posted July 4, 2016
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  • Gas investment deficit denies Nigeria 40,000MW of electricity

    Natural gas reserves capable of generating 40,000 megawatts of electricity for Nigeria have remained idle as several factors continue to hamper investments by oil companies in the business, our correspondent has learnt. Despite being home to Africa’s...

    • Posted July 4, 2016
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  • FG earns N724bn from oil in three months

    The Federal Government generated a sum of N724.63bn as oil revenue within the first three months of the year, figures obtained from the Federal Ministry of Finance have indicated. The figures are contained in the 2016 fiscal...

    • Posted July 4, 2016
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  • Petrol price hike sends marketers out of business – Investigation

    The number of operators in the downstream oil sector has continued to thin out out since the commencement of the partial deregulation of the industry, a development that led to an increase in the pump price of...

    • Posted July 4, 2016
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  • UBA releases xustomised PayAttitude tag

    The United Bank of Africa, UBA, has branded its PayAttitude tag for class, convenience and efficiency. The new customised tag with the bank’s identity replaces the old unbranded  tag issued by the bank While there are a...

    • Posted July 3, 2016
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  • Foreign airlines to repatriate N120bn ticket sales proceed

    Over 25 foreign airlines operating in Nigeria are expected to complete the repatriation of over N120bn ($600m) ticket sales proceeds trapped in the country for several months owing to dollar shortages. The Chief Executive Officer, Kenya Airways,...

    • Posted July 3, 2016
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  • Interbank rate drops as market liquidity surges

    The nation’s interbank overnight rate fell to five per cent on Friday from 15 per cent a week ago, as cash from maturing treasury bills and payments by the government to contractors helped boost liquidity. The increased...

    • Posted July 3, 2016
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  • Brexit may slow down capital flows into Nigeria

    Capital inflows into frontier markets, including Nigeria, may slow as investor confidence has been severely undermined by the uncertainty created by Britain’s vote to leave the European Union. The Sub-Saharan Africa Economist, Renaissance Capital, Yvonne Mhango, stated...

    • Posted July 3, 2016
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  • Market returns to losses as 24 stocks depreciate

    The Nigerian Stock Exchange market capitalisation receded by N74bn after 24 stocks depreciated in value at the close of trading on the NSE floor on Thursday. The NSE All-Share Index fell to 29,597.79 basis points from 29,812.91...

    • Posted July 2, 2016
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  • External reserves drop to $26.33bn

    The nation’s external reserves fell marginally to $26.33bn on June 29, down 0.30 per cent from a month ago, the Central Bank of Nigeria data showed on Thursday. The foreign exchange reserves stood at $26.42bn on May...

    • Posted July 2, 2016
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