The Central Bank of Nigeria (CBN) has thrown more light on why it suspended 19 banks from selling dollar realised from international money transfer services to Bureau De Change in Nigeria. Proceeds from cash transfer through licensed international agencies, like Western Union, Money Gram,...
The selling pressure and momentum of activities intensified on Thursday at the Nigerian stock market as investors remained unexcited by emerging corporate earnings for the third...
Bank workers in the country may be in for a better deal over the security of their jobs as the e Bankers Committee, Wednesday stopped retrenchment...
More facts are coming to light on how the Economic and Financial Crimes Commission (EFCC) declared a business mogul, Goodie Ibru, wanted. News of the development,...
Profit-taking transactions tipped the modest rally that started this week to the negative side by the mid week as investors extended the underlying selling pressure to...
Nigerian government has been warned of the danger in obtaining loans, indiscriminately, from international financial institutions with which to fight recession. The negative impact of the...
The Chairman of Ikeja Hotel Plc, Mr Goodie Ibru, has been declared wanted by the Economic and Financial Crimes Commission, EFCC, over alleged capital market fraud,...
Total export trade from Nigeria declined on average of 26.7 per cent per month by year-on-year statistics till the end of June 2016, according to the...
United Bank for Africa (UBA) recorded modest growths in top-line earnings and profit as the bank grew its profit before tax to N61.6 billion in the...
The overall market position at the Nigerian stock market again closed on the positive on Tuesday as large-cap stocks overshadowed underlying widespread selling sentiments. For the...
The Association of Master Bakers and Caterers of Nigeria, AMBCON, say they have been forced by the tough economic crunch to increase the prices of bread, biscuits...
Mustapha Bukar who represents President Muhammadu Buhari in the Nigerian Senate, on Tuesday, led a debate against Federal Government’s proposed sale of bonds worth N309 billion...
The failure of more than 10 banks to pass a stress test conducted by an international rating agency, Arqaam Capital, has sent a disturbing sign of...
Nigerian equities on Monday broke away from the losing streak that had marked the first week of this quarter as increased demand for some highly capitalised...
President Muhammadu Buhari on Monday declared open the twenty second summit of the National Economic Summit Group (NESG) in Abuja. He was joined at the occasion...
Electricity consumers in Nigeria may be in for another bout of darkness as the generating companies (Gencos) announced shutting down of some of their plants as...
Contrary to expectations, the Federal Government (FG) has insisted that the Lagos state government must refund to it, an estimated $1.52 billion believed to have been...
If he has his way, Lagos lawyer, Femi Falana, SAN, would want two former governors of the Central Bank of Nigeria, CBN, probed over loans the...
Tension has taken hold of officials of both the Nigerian Customs and Federal Inland Revenue Services (FIRS) following indications that the two federal establishments are to be merged before the end of 2016 fourth...
A crack in consensus within the kitchen cabinet of President Muhmmadu Buhari over how to reduce the 11 aircraft and two helicopters making up the presidential...
Nigerian equities set out for the last quarter of this year with strong selling pressure as profit-taking transactions on the September rally shaved off N172 billion...
There is a strong indication that the attempt to reopen probe into the award of controversial Oil Prospecting Licence (245) better known as Malabu Oil deal,...
If Nigeria must come out of recession and benefit from recent reforms, it must embrace increased structural adjustment, the International Monetary Fund, IMF, has said. The...
To Assets Management Corporation of Nigeria (AMCON) officials, a spanner has been thrown into their wheel, going by the Federal High Court order on Thursday that...
After two consecutive negative trading sessions, Nigeria’s most capitalised quoted company, Dangote Cement rallied the stock market to its first positive closing position in the fourth...
A major oil exploring company in Nigeria, Royal Dutch Shell Plc, has started a technology-oriented venture with which to pacify the oil producing communities to allow...
The much feared economic recession has started taking its tolls on the manufacturing sector in Nigeria with some medium sized firms already on the verge of...
In its desperation to get a willing buyer of its crude oil and gas, Nigeria has concluded arrangement to turn to China following reports that the...
Nigerian equities continued on the downtrend as continuing profit-taking transactions shaved off N92 billion from the market capitalisation of the quoted companies. For the second consecutive...
Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has accused western powers of frustrating efforts by the nation in addressing its power challenges. Adeosun, who spoke in...
The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has been given the matching order to rescue the nation’s economy in 21 days or...
Nigeria’s Debt Management Office (DMO), said its one-week roadshow had successfully taken off in London aimed, at promoting a planned $1 billion investment loan into the...
THE African Development Bank (AfDB) says it will only extend further help towards Nigeria’s recovering from its recession only if it increases taxes, reduce interest rate...
Nigerian equities started the fourth quarter with a tinge of profit-taking as investors sought to lock in profit from the September rally that netted N254 billion...
The Federal Government has sued Shell Petroleum Development Company, SPDC and a sister company, Shell Western Supply and Trading Limited over alleged oil theft between 2013...
Diageo Plc, majority core investor in Guinness Nigeria Plc, has withdrawn from its bid to acquire more shares in the Nigerian subsidiary citing the challenging market conditions in Nigeria. The decision comes on the heels...
The Federal Government has made a budget proposed of N6, 866,335,052,740 for 2017. This was contained in the Medium Term Expenditure Framework, MTEF and Fiscal Strategy...
The African Development Bank, AfDB, has faulted the Central Bank of Nigeria, CBN, saying its 14% interest is too high for an economy hoping to get...
Mass transit companies in Nigeria may soon have cause to smile, as the Federal Government has said it has set up a N25 billion revolving loan...
General Electric (GE) has punctured President Muhammadu Buhari’s claim that it was investing $2.2 billion in a concession to revamp, provide rolling stock and take care...
Uncertainty over government’s planned sale of the Nigerian Liquefied Natural Gas (NLNG) Limited has started having its tolls on the activities of the firm. Investigations...
The troubles of communications giant, MTN, in Nigeria has caused it to be downgraded to junk by the international ratings agency, Standard and Pauls (S&P). ...
For a nation which economy is already officially in recession due mainly to reduced revenue generation, this is not good news. The Nigerian National Petroleum...
The European Union, EU, has advised the Federal Government on a number of steps to take to tackle the current economic recession in the country. ...
In an attempt to stem the current economic recession in the country, the Senate has completed work on eight ammendment bills it hopes to send to...
Unless urgent solution is found to the prevailing dollar scarcity facing Nigeria, the December holidays may be celebrated without fuel, and this is according to feelers from the Major Oil Marketers Association of Nigeria (MOMAN). Rising from...
At least $376.5bn was lost as a result of militants’ attacks on gas facilities in Nigeria between June and September 2016. This resulted from a 45 per cent drop in production of the Joint Venture assets and the Nigerian Petroleum Development Company (NNPC) within the period. The NNPC latest monthly...
Nigeria has concluded plans to raise a total of N129.67 billion in treasury bills next week, even as its foreign reserves recorded its worst slip in September 2016, according to the Central Bank of Nigeria (CBN’s) data,released at the weekend. The apex...
Investors in the Nigerian equities market ended the week with additional net capital gain of N30 billion as continued bargain-hunting sustained the recovery at the stock...
Oil prices fell Friday despite decision of the Organisation of Petroleum Exporting Countries (OPEC) to cut production by 200,000-700,000 barrels per day (bpd). This is after...
