archiveSeptember 2016

The Nigeria's overnight naira interbank lending rate rose sharply to an average of 40 per cent on Friday, up from 15 per cent last week after the Central Bank of Nigeria (CBN) debited commercial lenders' accounts for treasury bills and bonds purchases. According to Reuters report monitored by Business247 News...

The Federal High Court in Ikoyi, Lagos today nullified the suit filed by Lagos-based lawyer, Ebun-Olu Adegboruwa, calling for the nullification of the appointment of Colonel Hameed Ali (rtd) as the Comptroller-General of the Nigeria Customs Service (NCS). The case was instituted in November 2015 to challenge the appointment of...

Nigeria plans to raise $1 billion on the Eurobond market this year in a move designed to plug a budget deficit, said the country’s Finance Minister, Mrs Kemi Adeosun said on Friday. Speaking at a press conference in the nation’s capital of Abuja, Adeosun said the government had earlier this...

S&P Global Ratings downgraded Nigeria further into junk territory as the country struggles amid low oil prices and severe shortages of foreign-exchange. S&P lowered Nigeria’s rating one level to B, five levels below investment grade and in line with Kyrgyzstan and Angola. The outlook was changed from negative to stable....

The National Bureau of Statistics (NBS) has said that Consumer Price Index (CPI) which measures inflation has reached a record high of 17.61per cent in August, 0.5 per cent points higher from 17.1 per cent in July. In its Consumer Price Index (CPI) report released today, NBS stated that increases...

Economic development involves investment in various sectors of the economy; the banks collect savings from the people and mobilize savings for investment in industrial project. Commercial banks not only facilitate but speed up the process of economic development through making more funds available from resources mobilized. But in recent times,...

  Having seen two consecutive quarters of slow growth in Nigeria, which has pushed the country’s economic into recession, some financial analysts in the country have warned the Federal Government that Nigeria may continue to wallow in economic recession until 2020 except the government return all the money from the...

The National Insurance Commission (NAICOM) and 58 insurance companies in the country are currently funding the insurance rebranding project of the Nigeria's insurance industry, Business247 News Online has learnt. While NAICOM is co-funding the initiative, each of the 58 firms, it was reliably gathered, is currently donating millions of Naira...

Oil prices fell more than 1 percent on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria following interruptions fuelled concerns that the global glut will persist. Benchmark Brent crude futures fell below the $46-a-barrel mark, trading down 1.4 percent at $45.95 a barrel, down...

  Dr. Stanley A. Okoro is a doubled Board certified plastic surgeon based in Atlanta, Georgia in the United States of America, USA, and a medical doctor of international repute. A native of Orlu, Imo State, he was adjudged the best cosmetic plastic surgeon in the State of Georgia in...