News Reports

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE: Investors lose N222 billion in six hours

The market capitalisation which opened at N10.993 trillion shed N222 billion or 2.02 per cent to close at N10.771 trillion.

Oil Barrels used to illustrate the story. [Photo credit: ThePointNG]

Oil prices: OPEC postpones emergency meeting

The delay is said to be as a result of a fresh disagreement between Russia and Saudi Arabia.

Kingsley Moghalu

Moghalu defends ‘low crude oil price’ wish

The former central bank deputy governor puts forward and defends his economic ideas.

Apapa Port

Lockdown: Banks to provide ‘skeletal services’ at Apapa port

An official said the banks would open between the hours of 9 a.m. – 2 p.m. daily for payments of duty on cargo.

NNPC petrol station used to tell the story.

New Fuel Price: NNPC seeks smooth movement of petroleum tankers nationwide

The corporation said that the federal government counted on the support of the law enforcement agencies across the country to ensure smooth distribution of petroleum products.

An oil vessel used to illustrate the story An oil vessel used to illustrate the story

Coronavirus: Nigeria, Angola, Senegal, Cameroon, Ghana among the most hard-hit as oil price plunges

The African Energy Chamber analyses the most vulnerable African countries amid the COVID-19 pandemic and low oil price

Nigeria realised N2.3 trillion from crude oil sales in 2018 — NEITI

In 2018, 255.6 million barrels were lifted by NNPC, while companies lifted 445.5 million barrels.

Central Bank of Nigeria (CBN)

Coronavirus Lockdown: Buhari grants limited exemptions to banks, other financial institutions – Officials

Mr Buhari imposed a lockdown, restricting movements in Lagos, Ogun and Abuja.

Coronavirus: Nigerian govt sues H-Medix, Faxx Stores, others over hike in prices of sanitizers

The government is also prosecuting Prince Ebeano Supermarket Limited and and Bakan Gizo Pharmacy & Stores Nigeria Limited.

Godwin Emefiele, CBN Governor

Coronavirus: Banks to maintain skeletal operations in Abuja, Lagos, Ogun — CBN

Although these establishments are exempted, access will be restricted and monitored.


Coronavirus pandemic could lead to global condom shortage — Producer

Condom is the most widely used contraceptives in the world.

UBA Supports Lagos State in Fight Against COVID-19 . Group Managing Director/CEO, United Bank for Africa(UBA), Mr, Kennedy Uzoka presenting a cheque of N1 billion to Governor of Lagos State, Mr. Babajide Sanwo-Olu, as part of the Bank’s donation of over 5 billion Naira (USD14 million), through the UBA Foundation, to catalyse a comprehensive pan-African response to the fight against the coronavirus (COVID-19) global pandemic., in Lagos House, Marina on Sunday

Coronavirus: UBA presents N1 billion to Lagos govt

The bank applauds the government’s effort to fight the pandemic.

African Development Bank President (AfDB), Akinwumi Adesina

Coronavirus: AfDB launches $3 billion ‘Fight COVID-19’ social bond

The bank says it is the largest dollar denominated Social Bond ever launched in international capital markets to date.

NNPC Towers: P&ID and the Petroleum ministry signed the contract here

NNPC, 31 oil firms mobilise $30 million coronavirus fund

NNPC chief said the fund would be deployed to meet three important emergencies.

Polaris Bank

Coronavirus: Polaris Bank donates 400 specialized beds, accessories

The beds, according to the bank, will be handed over to the Lagos State Government; being the state most hit by the pandemic, the Nigeria Centre for Disease Control (NCDC) and other state governments.

Central Bank of Nigeria (CBN)

Coronavirus: CBN suspends sales of forex to BDCs

The CBN announced the suspension of the sale to BDCs in a letter dated March 25, 2020.


CBN mobilises Nigerian billionaires for assistance against coronavirus

CBN tells Nigerians to prepare for the worst.

Nigeria Stock Exchange

NSE returns to negative posture, indices down by 0.05 per cent

The All-Share Index dropped 11.68 points or 0.05 per cent to 21,729.48 compared with 21,741.16 recorded on Tuesday.

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE: Market indices up 0.19 per cent as MPC retains rates

The All Share Index (ASI) increased by 40.18 points or 0.19 per cent to close at 21,741.16.

Central Bank of Nigeria (CBN)

Coronavirus: MPC retains all policy rates, supports CBN’s stimulus plan

Many financial experts had expected the monetary policy rates to be reviewed in an attempt to reinvigorate the Nigerian economy.


Bank shuts down Abuja branch after customer dies of coronavirus

The deceased visited the branch on March 12, and didn’t show any symptoms at the time of the visit.

Central Bank of Nigeria (CBN)

Coronavirus: What CBN, MPC should do to stabilise economy – Experts

The Monetary Policy Committee of the CBN is scheduled to hold its second meeting for the year on Monday and Tuesday.

NIPCO filling station

How govt arrived at new N125 per litre fuel price – Official

With the plunge in crude oil prices, the government had no option than to respond to dynamics of the international crude oil market.

The newly appointed Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami. [PHOTO CREDIT: BBC]

COVID-19: FIRS unveils automated tax system to boost revenue collection

The FIRS said the electronic system would also help block leakages in tax collection.

Minister of Finance Budget and National Planning in the Buhari administration, Zainab Ahmed [PHOTO CREDIT: @FinMinNigeria]

Nigeria suspends $22.7bn borrowing plan

The decision to jettison the plan was taken “due to current realities in the global economic landscape.”