News Reports

Dollars

Dollar gains for a second day as markets eye Fed minutes

Market analysts warned against buying into the dollar’s strength.

Transcorp-Hillton-Hotel

Transcorp gets new management team

Valentine Ozigbo has been appointed as its President/CEO with effect from January 1, 2019.

Nigeria Stock Exchange

NSE: Market capitalisation rebounds by N113 billion

The All-Share Index, which opened at 32,413.48, rose by 308.70 points to close higher at 32,722.18.

Egypt on map

Egypt remains Africa’s largest recipient of FDI, UNCTAD says

Overall, the global financial picture of FDI’s in the first half of 2018, was “gloomy”.

Festus Keyamo

Nigerian govt paying for ‘premium’, not subsidy – Keyamo

Mr Keyamo says the government is “putting Nigeria on the path of economic recovery and growth”.

EFCC operatives

Bank official jailed six years for diverting N5.2m depositors’ fund

Mr Ango sometime in 2011, while being a bulk teller in Access Bank, allegedly diverted over N5,224,500 of depositors’ money.

Oby Ezekwesili (Photo Credit: The Guardian Nigeria)

Economy: Don’t float $2.8bn Eurobond, Ezekwesili tells Nigerian govt

“In my view, what the plan to float the bond portends for the economy is that the Federal Government is digging in instead of digging out.”

Nnamdi Nwokike (left), Tony Ojobo (right). Photo is courtesy Tony Ojobo's Facebook Page.

NCC gets new spokesperson as Tony Ojobo retires

Mr. Nwokike served as Executive Secretary of WATRA for two terms of three-year tenure from 2007 to 2013.

Central Bank of Nigeria (CBN)

Why Nigeria chose stable exchange rate over building foreign reserves – Emefiele

The CBN governor says the government has made the right decision on the matter.

ICPC Head Office

ICPC uncovers Nigerian govt’s N9.8billion hidden in bank

Bank officials say their company is too broke to refund the money. ICPC st to seize assets.

Naira notes

Naira stable at N360 to dollar at parallel market

The Nigerian currency closed at N306.45 to the dollar at the official CBN window.

Lagos Deep Offshore Logistics, (LADOL).

Minister intervenes in LADOL, Samsung controversy

He said all parties in the dispute are already being engaged by the Nigeria Export Processing Zones Authority (NEPZA)

nigerian_stock_exchange

NSE market capitalisation extends loss by N12 billion

The All-Share Index, which opened at 32,417.70, lost 35.12 points or 0.11 per cent to close at 32,382.58.

Ahmed Kuru, Managing Director, Asset Management Corporation of Nigeria (AMCON)

Why airline businesses fail in Nigeria – AMCON chief

Airlines need stiffer regulations to succeed, he said.

Rice paddy, Jega

RIFAN urges farmers in Katsina to repay ABP loans

No fewer than 56,000 farmers in 36 local government areas of Katsina State secured the ABP loans.

Central bank of Nigeria (CBN)

CBN liquidates another bank over liquidity problem

“The bank was closed because the shareholders of the bank have been unable to recapitalise it.”

nigerian_stock_exchange

NSE suspends trading in shares of six Nigerian companies

The NSE also names the six companies and their offence.

NDIC building

Non-performing Loans: Finance Minister wants bank chiefs, directors investigated, prosecuted

“The spate of non-performing loans in the banking industry has become very worrisome.”

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

NSE market indices dip further by 0.12% amid price losses

The All-Share Index, which opened at 32,423.57 lost 40.42 points to close lower at 32,383.15 amid price losses.

FIRS Headquarters

Illicit financial flows include tax evasion, avoidance – FIRS

African governments’ losses from IFFs now stand at $80 billion per annum.

Babatunde Fowler, FIRS Chairman

FIRS recovers N3.63 billion from Illicit Financial Flows

The Service says it uncovered 114 companies that claimed they were not aware of lands allocated to them in Abuja.

nigerian_stock_exchange

NSE: Investors move 151.346 million shares worth N1.51billion

The All-Share Index, which opened at 32,454.03, lost 30.46 basis points to close at 32,423.57.

The World Bank

World Bank forecasts 2.7% growth for sub-Saharan Africa in 2018

The World Bank’s 2018 projection represents a slight increase from 2.3 per cent in 2017.

Oil barge used to illustrate the story. [Photo credit: Myanmar Business Today]

Oil races toward $85 as Iran sanctions loom

With oil prices soaring, there are concerns over their inflationary effect on demand growth.

Tanker used to illustrate the story.

Oil marketers demand payment of N650 billion debt from FG

The marketers say the inability of federal government to pay the debt has resulted in massive job losses in the oil and gas industry.