archiveJune 7, 2016

The World Bank has announced the downgrading of its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows. According to the latest update...

Naira eased 1.1 per cent on the parallel market on Tuesday, as customers trying to hedge against likely currency depreciation when the Central Bank of Nigeria (CBN) clarifies its new forex policy, snapped up every available dollar from retail outlets. The naira was quoted at 361 to the dollar on...

The British American Tobacco Nigeria Foundation, (BATNF), has received further commendations for its efforts in enhancing farming practices among smallholder farmers in rural communities across Nigeria. The Foundation's interventions have reportedly created unique opportunities for smallholder farmers, enabling them to better contend with farming challenges such as lack of capital...

The Federal Civil Service Commission (FCSC) has approved the appointment of Florence Anyanwu as the acting Auditor-General of the Federation. She will take over from Mr Samuel Ukura, who attained the mandatory retirement age of 60 on June 5.2016. This was contained in a statement issued by Olawunmi Ogunmosunle, the...

Equity transaction on the Nigerian Stock Exchange (NSE) continued on a negative trend on Tuesday as the All Share Index declined by 0.45 percent to close at 27,475.48 from the opening value of 27,598.54 even as Market Capitalization dropped N43 billion to close at N9.436 trillion from the opening value...

The Nigeria Customs Service (NSC) has dragged a Chinese, Zhu Jinxin, to  the Federal High Court in Lagos for allegedly attempting to export several logs of wood that was under prohibited list. It was learnt that he brought the wood in a container to Tin-Can Port for export to China....

Oando Plc has announced conclusion of a N94.6 billion facility provided by ten leading financial institutions in Nigeria. The institutions involved in the financing are; Access Bank Plc, Diamond Bank Plc, Ecobank Plc, First City Monument Plc, Fidelity Bank Plc, Keystone Bank Plc, Stanbic IBTC, United Bank for Africa ,...

The Debt Management Office (DMO) has said that Nigeria plans to raise 105 billion naira ($527.6 million) in local currency-denominated bonds with maturities of five to 20 years on June 15,. According to a report of Reuters monitored by Business247, the DMO said it will raise 50 billion naira from...

 The Bank of Industry (BoI) said it has disbursed N95 billion to 400 enterprises in the first half of 2016. This is line with its commitments to rev up its operations in support of Federal Government's policies and programmes as well as those of state governments partnering with the bank....

Former Goa Chief Minister (CM) Ravi S Naik on Tuesday demanded the Centre to ban the Nigerians from entering India while alleging that they indulge in illegal activities. He further stated that if Nigerians come to India to study then the government should keep a strict watch on them. According...