archiveOctober 2016

Chimamanda Ngozi Adichie I was 7 years old the first time I recognized political fear. My parents and their friends were talking about the government, in our living room, in our relatively big house, set on relatively wide grounds at a southeastern Nigerian university, with doors shut and no strangers...

Nigeria has been affirmed by the International Monetary Fund (IMF) as the biggest economy in Africa — ahead of South Africa and Egypt. In August 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of the country’s gross domestic product...

FITCH Ratings has projected a 2.6 percent growth in Nigeria’s Gross Domestic Product (GDP) for 2017. This was contained in a statement issued on Tuesday by the global rating agency. Though Fitch reduced its forecast for the country’s GDP growth for 2016 to 1.0 percent from 1.5 percent, citing weak...

The Central Bank of Nigeria (CBN) has amended the guidelines on transaction switching in the country. The directive towards this was contained in a circular to all banks, mobile money operators and payments services providers the CBN placed on its website on Tuesday. The circular by the apex bank was...

The Securities and Exchange Commission (SEC) has warned investing public of illegal capital market operation of Ruby Gold Ventures.  The apex capital market regulating body stated that company is not a registered company. SEC in a statement obtained by Business247 News Online said, “The attention of the Securities & Exchange...

At the end of equities trading on The Nigerian Stock Exchange (NSE) on Tuesday, the benchmark index weakened by 0.29 per cent to close at a month-low of 27,555.31 basis points from 27,634.99 basis points, while Year to Date loss dips to 3.8 per cent. The market capitalisation depreciated by...

PwC Nigeria has released a new report titled The Future of Nigeria which identified three critical levers for improving Human Development Index (HDI) which identifies the most critical issues that must be focused on to enable Nigeria reach its HDI target and thereby translate economic growth into real improvements in...

Barring any last minute changes, the implementation of Risk Based Supervision (RBS) may commence in insurance industry latest by December this year, Business247 News Online has learnt. Already, the National Insurance Commission (NAICOM) has come up with a draft to which the insurance operators are expected to make inputs in...

Senate Committee on Banking, Insurance and Other Financial Institutions on Monday expressed satisfaction with the current monetary policy measures adopted by the Central Banking of Nigeria (CBN) to get the nation’s economy out of recession and put it on the path of enduring growth. The Chairman of the Committee, Senator...

Arrangements have been concluded for the commencement of operation in January 2017 of the proposed Development Bank of Nigeria (DBN). Minister of Finance, Mrs Kemi Adeosun who disclosed this on Monday  said Nigeria’s delegation to the just concluded IMF/World Bank meeting in the U.S. was able to secure the commitment...