News Reports

PIC MIX: Access Bank - Diamond Bank

Access Bank, Diamond Bank shareholders approve merger

The merger is expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.

Godwin-Emefiele

Central Bank of Nigeria blocks forex for textile importation

The restriction starts immediately and affects all forms of textile and garment importation.

Director-General, Debt Management Office, DMO, Patience Oniha

FG offers fresh bonds for March

The two-year bond will be due in March, 2021 while the three-year bond will mature one year after.

Nigerian Stock Exchange (NSE)

NSE: Market indices maintain upward growth, up by 0.95 per cent

The market capitalisation inched N113 billion to close at N11.981 trillion against N11.868 trillion on Friday.

Minister of Trade and Investment, Okechukwu Enelamah

World Bank GEM Project: Group wants EFCC to probe alleged diversion of $35mn

The group accused the minister of diverting funds and engaging in a series of abuses the anti-graft agency should look into as a matter of urgency.

Oil rig

Oil prices rise on trade deal hopes, OPEC supply cuts

Hopes of an end to the trade spat between the two world’s biggest economies added support to a market that has been rallying for the past two months on cuts to production.

NBS

Nigeria’s foreign trade volume increases by 39% – NBS

The trade value for 2017 stood at N23.16 trillion.

Court

Court stops computer professional council from forcefully registering members

The judge says the Computer Professionals Registration Council of Nigeria Act (Control and Supervisory Regulation) 2010 did not expect it to be engaging in trivialities.

Naira notes

Naira appreciates against dollar at I&E window

The Nigerian currency exchanged at N360.00 to the dollar from the N361.18 it traded on Wednesday.

Maikanti Baru

Nigeria controls $48bn new oil, gas projects in Africa — Baru

Experts see Africa as bright prospects for Africa’s energy industry.

Nigeria Stock Exchange (NSE)

Presidential election result: Nigeria Stock market loses N196 billion

The All-Share Index lost 525.54 points or 1.63 per cent to close at 31,728.70 when compared with 32,244.24 recorded on Wednesday.

Qatar Airplane used to illustrate the story.

Qatar Airways suspends plan for new flights to Africa due to boycott

In 2018 the airline reported a 69-million-dollar loss in the 12 months until the end of March 2018.

Naira notes

Naira appreciates marginally against dollar at parallel market

The Nigerian currency gained N1 to exchange at N358 to the dollar at parallel market.

Aliko-Dangote-1062x598

Dangote sells 23.54 metric tonnes of cement across Africa

The Company says it also dominated the Nigerian cement market in 2018.

Nigeria Stock Exchange (NSE)

NSE: Indices record 0.57 per cent growth

The market capitalisation rose by N69 billion to close at N12.194 trillion against N12.125 trillion on Friday.

Chickens [Photo: Naijagist]

How to make poultry products affordable in Nigeria

A poultry farmer advises people to produce feeds for the birds.

Federal Inland Revenue Service.

FIRS grants 30-day reprieve to wealthy Nigerian tax defaulters

He urged taxpayers to register their companies with their e-mails and telephone numbers.

Oil rig

Oil prices fall as U.S. crude output hits record 12m bpd

America is the only country to ever reach that level of production.

ExxonMobil used to illustrate the story

Nigeria orders oil multinationals to pay nearly $20 billion in taxes

Reuters news agency reported Thursday that the move could deter investment in Africa’s largest economy.

Federal Inland Revenue Service.

Nigeria’s VAT collection rose 8.96% in 2018 fourth quarter — NBS

The manufacturing sector generated the highest amount with N28.82 billion.

Nigeria Stock Exchange (NSE)

NSE: Trading sways southward, down by 0.14 per cent

The All-Share Index lost 45.40 points to close at 32,568.65 compared with 32,614.05 recorded on Wednesday.

Attorney-General of the Federation, Abubakar Malami (Photo Credit: DailyPost)

Alleged Breach of Contract: UK court ‘grants Nigeria’s request to appeal $6.59bn damages’

The dispute started over a contract signed between the Nigerian government and a company in 2010.

Agip Head office in Lagos

$55 million alleged non-remittance: Agip knows fate April 20

The Nigerian government is accusing the oil company of under-declaring the volume of crude oil it shipped out of the country.

A Bureau De Change, BDCs, operator

Naira gains marginally against dollar

Traders say the market witnessed low patronage, which they attribute to the election week.

Muhammadu Buhari [Photo: Presidency]

Why European Commission included Nigeria among 23 ‘dirty money’ blacklist

Six African countries are on the new list, namely Libya, Tunisia, Ethiopia, Botswana, Ghana, and Nigeria.