archiveAugust 2, 2016

The Central Bank of Nigeria (CBN) has advised Nigerians at home and abroad to beware of the activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. The advice is conveyed through a press statement signed by CBN’s Acting Director of Communication, Mr Isaac Okorafor in Abuja on Tuesday....

The nation’s Economic Management Team met with top economists and financial experts in Abuja on Tuesday in continuation of its consultations towards finding solutions to the tough economic situation in the country. The meeting which was presided over by Vice President, Prof. Yemi Osinbajo, had in attendance Prof. Akpan Ekpo,...

Trading on the Nigerian Stock Exchange (NSE) ended positive today as investors recouped N54 billion in the day trading as the Market Capitalization and All-Share Index which closed on Monday at N9.563 trillion and 27,843.00 basis points respectively closed today at N9.617 trillion and 28,000.80 respectively. A total of 68.391...

  As CBN charges banks to provide for dollar loans The Naira today depreciated further against the dollar at the parallel market, Business247 News Online reports. The Nigerian currency exchanged at N380 to the dollar, from N378 it traded on Monday, while it exchanged against the Pound Sterling and the...

The Federal Government has set up a Presidential Enabling Business Environment Council committee to address bottlenecks affecting smooth operations the Nigerian industrial sector. The Minister of Industry, Trade and Investments, Dr Okechukwu Enalamah, who made this revelation stakeholder in Lagos yesterday, said it was part of the Federal Government’s efforts...

The Corporate Affairs Commission (CAC) has started an in-house review of the Companies and Allied Matters Act (CAMA), which has been in operation for over 20 years. The commission Director of Public Affairs, Churchill Williams, said in a statement that the review was "part of efforts to bring the CAMA...

Stanbic IBTC Bank’s payment cards have been adjudged the best in the country in 2016, in recognition of its leadership in the provision of card payment solutions in the financial services industry. The bank won the 2016 Card Payment Bank of the Year award at the 2016 Nigeria Telecoms Awards,...

Lagos State Governor, Mr. Akinwunmi Ambode, said the largest single line refinery in the world being developed at the Lekki Free Trade Zone by Alhaji Aliko Dangote will change the face of oil and gas business in the West African region. Governor Ambode, said this at the LFTZ during an...

As the effect of global economic challenges in the oil & gas sector persist, Oando Plc has announced a loss of N26.99 billion in half year ended June 30, 2016. The Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchanges, profit dropped by 23 per...

  As six declare N33.9bn drop in profit There is no need for further proof that things are very difficult for all operators, all sectors of the nation’s economy as well as the populace in general. Even the banking stocks which were hitherto the toast of investors on the Nigerian...