Business

Dominance of Foreign Investment not threat to Nigeria’s Stock Exchange – Finance Analysts

Finance experts have allayed the fears that the dominance of foreign investments in transactions on the nation’s Stock Exchange market is risky and unhealthy and might lead to a repeat of the market crisis recorded few years ago. The Nigerian Stock Exchange, NSE, last week, placed foreign investment in trading activities at 56 per cent […]

Eugene-Juwah

Group asks EFCC to investigate NCC over N53bn ‘spectrum fraud’

CSNAC mentioned various allegations of financial impropriety against the NCC.

How presidency, National Assembly feud over SEC boss, Oteh, makes workers suffer

The ongoing battle between the Director General of the Securities and Exchange Commission, SEC, Arunma Oteh, and the House of Representatives is already taking its toll on the staff of the Commission, who are being made to bear the brunt of the ‘ego’ clash. The National Assembly last year refused to treat the 2013 budget […]

Local content policy created 30, 000 jobs for Nigerians — Alison-Madueke

Nigeria’s Petroleum Minister says implementation of local content policy has created jobs for Nigerians.

Nigeria’s Central Bank revealing obsession for maintaining strong Naira- Financial Analyst

Nigeria’s Central Bank, with its decision to maintain all monetary policy instruments yet again, is beginning to reveal an obsession for maintaining a strong Naira, Bismarck Rewane, a finance analyst and Managing Director, Financial Derivative Company, has said. Mr. Rewane said among the factors that might have influenced the MPC’s Decision Framework is that the […]

CBN seeks quick passage of PIB, retains banks’ lending rate.

CBN urges FG to pass Petroleum Industry Bill.

CBN

Nigerian, Englama, named head of West Africa Monetary Institute

Mr. Englama will head WAMI for an initial two years.

Managing Nigeria’s Monetary Policy, By Ifeanyi Uddin

Again, the Central Bank of Nigeria’s (CBN) rate-setting committee (the Monetary Policy Committee ― MPC) meets this morning. In a marked departure from practice, the meeting this January (the MPC meets every other month) is scheduled to run for just one day (all through last year, the meetings lasted the better part of two days). […]

West Africa must learn from Eurozone on single currency- Okonjo-Iweala

West Africa states are moving to establish a single currency for the region.

Nigeria’s Capital Market to face liquidity, depth challenges in 2013

Despite the introduction of market making companies into Nigeria’s Stock Exchange, NSE, to aid liquidity, Oscar Onyema, the Chief Executive Officer of the Exchange said the Capital Market will continue to face challenges around liquidity and depth in 2013. He however, said “there is a concerted effort to drive improvements in market participant experience” at […]

Sanusi lamido sanusi

Nigeria, USAID collaborate to boost banks’ lending to agric sector

Nigeria’s government and USAID partner to increase lending by banks to agriculture.

Statistics bureau puts Inflation rate at 12% in December

Consumer Price Index rose to 12 per cent in December.

World Bank projects Nigeria’s economy to grow by 6.6% in 2013

foreign investments are expected to be the main drivers of the economic growth in Nigeria.

CBN

CBN to increase N300bn power, airline fund

The Central Bank of Nigeria, CBN, has said that it will increase the N300 billion Power and Airline Fund, PAIF, to the power and aviation sectors, a statement said. In a statement, issued in Lagos on Tuesday, the CBN said that the development is with a view to increasing available funds for the execution of […]

New SEC Board gives reconciliation with Reps as first task

The newly inaugurated Board of the Securities and Exchange Commission, SEC, on Tuesday gave itself the task of facilitating reconciliation between the National Assembly and the capital market regulatory authority. The chairman of the new board, Suleiman Ndanusa, said in Abuja that the commission is ready to collaborate with the lawmakers as part of its […]

Breaking News

Breaking News: Nigeria Pension Commission releases amended investment guidelines

Nigeria’s Pension Commission, PenCom, has finally released the amended investment guidelines for Pension Fund Assets (PFAs). The Regulation on Investment of PFA’s had to be further revised in response to the dynamics of the financial and regulatory environment. Details later…

Nigeria Stock Exchange announces market making companies

The Nigerian Stock Exchange, Tuesday, announced names of selected Fixed Income Market Makers (FIMMs), in preparation for a forthcoming launch of Retail Bonds trading in the Nigerian Capital Market. The Nigerian Bourse announced the names of the selected Fixed Income Market Makers (FIMMs) on the trading floor of The Nigerian Stock Exchange (NSE) on Tuesday. […]

CBN

FG, states share improved oil revenue in December

The Federal Government and the 36 states of the Federation as well as the Federal Capital Territory, FCT, Abuja shared improved revenue yield from crude oil exports last December despite reported incidences of rising oil bunkering and crude oil theft in the Niger Delta region. The Accountant General of the Federation, Jonah Otunla, said at […]

Nigeria, high risk, high returns market – Guinness

The Lagos Chamber of Commerce and Industry has also stated the challenges of the Nigerian business environment.

World Bank Vice President for Africa to visit Nigeria

The World Bank’s Vice President for Africa, Makhtar Diop, is scheduled to arrive Nigeria on Sunday on his first official visit to the country since his assumption to office last May. The Nigerian office of the Bank said on Thursday that Mr. Diop will hold discussions with key Federal Government officials including President Goodluck Jonathan, […]

CBN

Report foresees single digit inflation rate in Nigeria in 2013

The Financial Derivatives Company, a diversified financial institution, has  stated that the nation’s average rate of inflation will be at a single digit by year end. The firm, in a report which focused on inflation, said  this is due to a number of factors which includes anticipated increase in productivity. “Initial estimates for price inflation […]

CBN

Bank customers get Feb 1 deadline to comply with money laundering law

Most businesses in Nigeria are designated non-financial institutions and will have to register with the Special Control Unit Against Money Laundering.

Dana, Nigeria aviation authorities boycott inquest into plane crash

Dana crashed seven months ago killing all passengers on board and more people on the ground.

Nigeria set to pay N94bn subsidy to 23 petrol marketers

Finance Minister refuted allegations that her ministry is blocking verified payment to marketers.

Dana Air crash, floods jolted insurance industry in 2012 – operator

The disasters in Nigeria in 2012 acted as wakeup call for insurance companies.