The Central Bank of Nigeria (CBN) said on Monday it did not charge any fee on COVID-19 loan application as claimed by reports. The CBN’s Director,...
The Nigerian bourse demonstrated signs of recovery last week with the market recording three days of gain in a row out of the four trading sessions....
The Financial Reporting Council (FRC) has issued a directive to external auditors to embrace procedures other than the normal ones in obtaining audit proofs so as...
Rallying from the immediate dip that happened after the historic production cut deal between the Organisation of Petroleum Exporting Companies (OPEC) and its Russia-led allies, oil prices inched...
Operators in the downstream sector have said the pump price of gasoline might fall for the third time in barely three weeks if other operators towed...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
There is a massive possibility that 82% of corporate organisations in Nigeria will have their revenues contract in the wake of the coronavirus outbreak. Data gleaned...
Nigeria’s erstwhile Minister of Finance, Ngozi Okonjo-Iweala has been appointed member of the New External Advisory Group of the International Monetary Fund by Kristalina Georgieva, the...
Some local airlines in the country have declared an extension of their flight operations after lockdowns were imposed by many state governments in order to contain...
Micro credits adding up to N5 billion will be disbursed to 500,000 traders in Nigeria in few weeks as government’s financial response against the impact of...
The likelihood is huge that market confidence is gradually increasing with three consecutive days of gain experienced Tuesday through Thursday. There were no activities on Friday...
Nigeria has allied itself with the Organisation of Petroleum Exporting Countries (OPEC) to reduce global crude oil production by 10 million barrels per day (bpd) between...
The hope of Nigerians enjoying two months of free electricity supply may have been dashed, as the Ministry of Power on Friday denied reports making rounds...
Shell Petroleum Development Company of Nigeria has announced that unforeseeable circumstances are threatening its exportation of Forcados crude oil following “a shutdown by the pipeline’s operator,” a...
The banking industry will post lower profits this year due to the ravaging impact of the coronavirus pandemic, business intelligence and rating agency, Agusto & Co, has...
Oil prices plunged Thursday by as much as 12% as the deal to cut global production by 10 million barrels per day (bpd) failed to wow...
Gains in large-cap equities led by Nestle and Seplat ushered the Nigerian bourse into its third day of bull run on Thursday. Bargain hunting has been...
Sub-Saharan Africa’s Gross Domestic Product (GDP) will encounter contraction of between 2.1% and 5.1% in 2020 and slide into recession, its worst show in a quarter...
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has stated that the N457 billion planned for subsidy payment in the 2020...
Nigeria and other regional member nations will get emergency credit of up to $10 billion from the African Development Bank (AfDB) to battle COVID-19. Akinwunmi Adesina,...
The Nigerian government said it would close operations at state-owned refineries temporarily as part of plans to obtain funding and a model to upgrade the facilities....
The Nigerian bourse sustained the fairly positive performance it recorded Tuesday at the end of Wednesday trade with all the key performance indicators ending towards the...
The Nigerian government Wednesday reviewed its proposed capital spending for 2020 downward by N312 billion. The cut in the capital projects figure of the 2020 budget...
The suspension of the subsidy regime on petroleum products announced by the Nigerian National Petroleum Corporation (NNPC) two days ago would not be seamlessly implemented except...
Nigeria’s application for a $3.4 billion credit from the International Monetary Fund (IMF) is currently under review. “We are working hard to respond to this request...
The World Bank Tuesday announced it had given Nigeria medical support in the sum of $82 million, its own bit of global institutions’ assistance to nations...
FBN Holdings Plc – the parent company of Nigeria’s oldest bank, First Bank of Nigeria Limited –Tuesday announced it would pay a dividend of N0.38 per share...
The steep decline in activities that have dominated the market in the last couple of days reached a new low Tuesday with Trade Volume tumbling by...
Cement maker, Lafarge Africa Plc, has declared a Profit After Tax of N115.104 billion for Full Year 2019 relative to a Loss After Tax of N8.802 billion...
American credit rating agency, Fitch Ratings Incorporated, Monday lowered Nigeria’s Foreign Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+’ and consequently assigned a negative outlook to the...
The Nigerian National Petroleum Corporation (NNPC) has declared that the subsidy regime in petroleum products pricing is over. “Subsidy and under-recovery are zero today and it...
The market posted one of its biggest single day losses this year on Monday, shedding about N221.615 billion as negative sentiment remained rife. Profit-taking in industrial...
As a measure to shore up its weakening fiscal base and mitigate shocks from the coronavirus pandemic, the Nigerian Government said Monday afternoon it had approached...
Africa’s largest oil producers, Nigeria and Angola, may lose $65 billion of their income to the harsh, monumental impact of the coronavirus pandemic in 2020, an...
Dangote Cement Plc has declared its intention to generate capital of up to N100 billion from the public through corporate bond. Nigerian largest company by market value...
Foreign investments valued at $23.9 billion (over N8.771 trillion) came into Nigeria by way of 22 banks last year, the statistics office has said. The injection...
Intensifying to a new height last week, the downtrend in the equity market showed no sign of subsiding soon with the Nigerian bourse recording losses all...
Nigeria’s erstwhile Minister of Finance, Ngozi Okonjo-Iweala has given her backing to the resolve by African finance ministers to request debt relief from multilateral, bilateral and...
The Nigerian government has granted a tax holiday of up to three years in conformity with the provisions of the Industrial Development Income Tax Act. Termed...
The Nigerian economy faces the huge prospect of losing up to $650 million dollars (about N238.550 billion) and 91,380 jobs to the downtrend induced by the...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
A coalition of six insurance companies in Nigeria Saturday announced an insurance cover of N5billion for health workers and volunteers in the frontline against coronavirus in...
Tony Elumelu Foundation (TEF) Entrepreneurship Programme, 6th edition has been postponed due to the COVID-19 outbreak until 2021. TEF entrepreneurship program is an annual scheme that...
The Nigerian Electricity Regulatory Commission (NERC) Friday released guidelines for power industry operations during the coronavirus crisis, instructing stakeholders to maintain continuity of service as long...
Oil prices rose for the second consecutive day on Friday with Brent (the international benchmark for Nigeria’s crude) climbing up further to $34.91 per barrel. It...
Market activities this week were sorely affected by inevitability by investors and traders to conduct business away from the Nigerian Stock Exchange (NSE) building as the...
The World Bank’s Board of Executive Directors excluded Nigeria from the list of 25 countries that will benefit from its $1.9 billion first set of emergency...
Heavy sell-offs in the shares of the two most capitalised companies on the Nigerian Stock Exchange –Dangote Cement and MTNN –accounted primarily for the N13.851 billion...
As the COVID-19 crisis unfolds, the focus of business leaders and others has been on immediate responses and short-term time horizons. This is for good reason....
NEM Insurance Plc has proposed a total dividend payout of N792.075 million translating to N0.15 per share for Full Year 2019. This follows the release of the...
