News Reports

Naira gains some strength amid CBN intervention

The official interbank exchange rate remains at N197 to the Dollar.

Customs boss directs area commands to increase weekly revenue from N13bn to N35bn

The acting Comptroller-General wants to block leakages.

President Muhammadu Buhari talking

Buhari orders review of economic policies before 2016 budget

Buhari: “We will gladly have policy somersaults, if it will mean more jobs, particularly for youths.”

Electricity commission defies Senate, says N750 charge won’t be abolished

The electricity regulator agrees that there should no bulk metering of customers.

Oliseh rings closing bell at Nigeria Stock Exchange

The NFF wants improved partnership between football and corporate Nigeria.

CBN

PWC, KPMG to audit all Nigeria’s revenue agencies

“If you have tax generating agencies that are not remitting taxes, government cannot run like that.”

SEC retires 43 senior staff, closes down 4 zonal offices

“The commission has been operating at an unsustainably top-heavy structure”.

ALSCON sale: Reps orders probe of BPE, NCP’s refusal to enforce Supreme Court ruling

After almost ten years of legal battle, the Supreme Court had ruled on July 6, 2012, to restore BFIGroup as the rightful owners of the plant.

Nigerian govt directs NNPC, others to pay revenues into treasury account

The directive was given following the introduction of the Treasury Single Account.

NLC lambasts statistics bureau; says its unemployment data fraudulent  

The Chief Executive Global Analytics Consulting Limited, Tope Fasua, says the Statistics bureau is deluding itself with the new job statistics

Naira depreciates further at parallel market

One dollar is now equivalent to N225.

FIRS realises N1.97trillion revenue

The FIRS says there are 450,000 registered companies in the country, but that only about 125,000 pay taxes.

Nigeria must bring back solid mineral revenue — RMAFC

Miners lament the dwindling fortunes of the sector.

Standard Organisation of Nigeria to curb high lead content in paints

Lead is particularly harmful to children.

Nigerian universities to teach deposit insurance courses

“Fundamentals of Deposit Insurance Scheme” and “The Practice of Deposit Insurance” will now be offered in schools.

Buhari orders speedy action on aviation debt

“Our airports are the windows through which people see our country”.

Bank of Industry grants N24.6bn loan to solid minerals investors

The bank raises funding to the sector due to the fall in oil revenue.

Tiger Brands acquires Dangote Flour; may change name at AGM

Mr. Dangote hopes the company would maintain the progress it has recorded in stabilising its delivery platform

“Made in Nigeria” goods rejected in Mexico, others due to poor packaging

The main policy thrust of the Muhammadu Buhari administration is to give maximum attention to non-oil sector development.

​Securities Commission unveils e-dividend portal to reduce high unclaimed dividends

The initiative is in collaboration with the CBN.

Nigeria may compel multinationals to list on Nigerian Stock Exchange — Dogara

Mr. Dogara says there will be a law compelling multinational to list on the Nigerian stock exchange.

CBN retains 13% lending rate

CBN also resolved to keep the cash reserve requirement at 31 per cent.

Airline operators call for reduction in operation cost

Airline operators complain about multiple charges.

Lafarge Africa announces successful completion of $40 Billion merger between Lafarge Group, Holcim

The company will continued to be known in Nigeria as Lafarge Africa Plc

nigerian_stock_exchange

Nigeria, others form West African capital market regulators body

The regulators hope to establish a mutually acceptable basis for consultations and cooperation.