archiveJanuary 2017

The Director–General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, has restated the commission’s resolve to promote the development of Commodity Exchanges in the country. Speaking when he received the new exco of the Association of Stockbroking Houses of Nigeria (ASHON) on a courtesy call at the commission’s head...

A report by Fitch, an international rating agency has said that the Nigerian Banking sector will experience worsening asset quality on the backdrop of macro economy challenges. The firm listed problems in the oil industry and foreign exchange rate pressures on borrowers to service their loans as the key problems...

The Nigerian Stock Exchange All-Share Index (NSE ASI) and the Market Capitalization increased by 0.09 per cent while the Year-to-Date return stood at -2.36 per cent. The All Share Index closed at 26,240.45 against the previous close of 26,217.54 while Market Capitalization closed at ₦9.029 trillion against previous close of...

Investors are lining up to buy dollar bonds Nigeria is expected to issue soon despite the country's first recession in a quarter of a century, a currency crisis and budget shortfalls driven by low oil prices. On the face of it, the $1 billion of bonds Nigeria hopes to sell...

Fiery Pastor and General Overseer of Omega Fire Ministries Worldwide, Apostle Johnson Suleman, on Wednesday, condemned the attempt by the Department of State Service (DES) to arrest him at a function in Ekiti State, saying such a draconian action by a ''Change" government is harsh, dangerous and negates the tenets...

Minister of Power, Works and Housing, Mr. Babatunde Fashola explained on Wednesday in Abuja that lack of finance to pay for the supply of gas to power stations was responsible for the drastic drop in the electricity supply currently experienced across the country. Fashola disclosed this when briefing the media...

Gambian President Adama Barrow's administration faced a backlash Tuesday after admitting its new vice-president may be constitutionally barred from serving and confirming ex-leader Yahya Jammeh will be permitted to keep a fleet of luxury cars. According to AFP report, one day after naming Fatoumata Jallow-Tambajang as deputy leader, an outcry...

The House of Representatives has given its committees on Anti-Corruption, Environment and Habitat six weeks to investigate former President Gooodluck Jonathan’s N0.3 billion “Clean Stove For Rural Women scheme”. The resolution followed a motion by Rep. Abiodun Faleke (APC-Lagos), which was unanimously adopted by members through a voice vote to...

Internet users decline by 536,346 subscribers in December The Nigerian Communications Commission (NCC) has said that the country recorded increase in teledensity in 2016, ending the year with 110 per cent growth. Telephone density or teledensity means the number of telephone connections for every hundred individuals living within an area....

General Electric Co has proposed investing in Nigeria's oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE's plan and similar promises from companies like Italy's Eni (ENI.MI) to work with Nigeria to rehabilitate the country's three oil refineries could help the government as...